Montana Coal and Iron Company.

The Montana Coal and Iron Co. was incorporated on November 27, 1889, by Elijah Smith, Prosper W. Smith, Edward J. Berwind, John E. Berwind, Elias L. Frank, Ansley S. Davis, and John S. Tilney. The purposes of the company were far reaching, including buying and developing coal lands, marble quarries, iron and other minerals, oil wells, timber lands, saw mills, water power, real estate and other properties, and to build associated roads and railroads. The incorporators capitalized at $2,000,000. Offices were in both Billings, Montana, and New York City.

For the next twenty years, the history of the company is unclear. The Smith brothers began acquiring land and issuing stock and promissory notes in payment. Relationship of these two methods of payment was not clearly defined. Little coal was produced. The company kept very poor records of its transactions.

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