“Besides this fight Mr. Ross conducted the affairs of the Coal
Company through disastrous fires which seriously affected the
output of the mines, and labor troubles one of which was of
a protracted and costly nature. Throughout all the various
negotiations which were almost continuously carried on between
the two companies for years, Mr. Ross found his paramount
interest was in the Coal Company although he was financially
and executively interested in both, so that eventually he
withdrew from the steel board and gave his whole time to the
Coal Company, becoming its president, a post he retained until
December, 1909. In March, 1909, at the annual meeting of the
Dominion Coal Company, Mr. Ross made an exhaustive statement
concerning the relations of the two companies following the
decision of the Privy Council in the preceding month, in which he
justified the course taken by his company. He explained from the
coal point of view, how the company had saved the Steel Company
from bankruptcy at a critical time following the termination of
the lease of the Coal Company to Steel in 1903 and the subsequent
dispute which became acute in 1906 and reached the courts
the following year. The final settlement of the terms of the
judgment between the two companies and the eventual purchase of
Mr. Ross’ interest in coal for four million, seven hundred and
fifty thousand dollars, which took place late in 1909 when he
retired from the presidency and Coal was amalgamated with Steel,
concluded the most interesting and strenuous period of his career.
Public-domain text, read in full here on John Shaqi.
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