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.

In 1907, shortly after the building of the Yellowstone Park Railroad (later renamed the Montana, Wyoming and Southern) to Washoe, mining at Washoe began on a regular basis. In 1911, with Elijah Smith's health failing, an attempt was made to gain control of the affairs of the company. The accounting firm Pogson, Peloubet and Co. did a massive audit of the company's finances. In 1912 a mortgage replaced all of the outstanding indebtedness.

James M. Freeman began working for the company as assistant general manager about 1908. Within a few years he had become general manager and vice president of the company. He continued in this dual role until 1945, when the Company ceased large-scale production. He became company president in 1954 and then retired to a position as a director in 1956.

After the retirement of company president Elijah Smith, the presidency changed hands many times. Shortly before his death, Elijah Smith assigned most of his interest in the company to Charles R. Smith [relationship to Elijah unclear] of Menasha, Wisconsin. In 1911 William W. Worthington became president. On William Worthington's death on January 30, 1912, C. R. Smith succeeded to the presidency. From then on control of the company from Menasha was fairly consistent, although the offices continued to be in either New York City, Billings, or Washoe. Among the later presidents were Henry S. Fleming (1916-1919), Thomas M. Kearney (1919-1931), W. H. Miner (1932-1935), Carlton R. Smith (1936-1943), D. C. Shepard (1944-1952), James M. Freeman (1953-1958), and Oliver C. Smith (1959-1975). The Montana Coal and Iron Company was involuntarily dissolved in 1980.

The Montana Coal and Iron Company prospered through World War I. Both the Washoe / Smith Mine and the nearby Foster Creek Mine operated at full capacity. With warm winters and competition in the domestic market by natural gas, the company's fortunes declined through the 1920s and 1930s. The company's Smith Mine is most famous for the terrible explosion of February 27, 1943, which killed 73 miners.

From the description of Montana Coal and Iron Company records, 1889-1967, bulk, 1910-1945. (Montana Historical Society Library). WorldCat record id: 318912058

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.

In 1907, shortly after the building of the Yellowstone Park Railroad (later renamed the Montana, Wyoming and Southern) to Washoe, mining at Washoe began on a regular basis. In 1911, with Elijah Smith's health failing, an attempt was made to gain control of the affairs of the company. The accounting firm Pogson, Peloubet and Co. did a massive audit of the company's finances. In 1912 a mortgage replaced all of the outstanding indebtedness.

James M. Freeman began working for the company as assistant general manager about 1908. Within a few years he had become general manager and vice president of the company. He continued in this dual role until 1945, when the Co. ceased large-scale production. He became company president in 1954 and then retired to a position as a director in 1956.

After the retirement of company president Elijah Smith, the presidency changed hands many times. Shortly before his death, Elijah Smith assigned most of his interest in the company to Charles R. Smith [relationship to Elijah unclear] of Menasha, Wisconsin. In 1911 William W. Worthington became president. On William Worthington's death on January 30, 1912, C. R. Smith succeeded to the presidency. From then on control of the company from Menasha was fairly consistent, although the offices continued to be in either New York City, Billings, or Washoe. Among the later presidents were Henry S. Fleming (1916-1919), Thomas M. Kearney (1919-1931), W. H. Miner (1932-1935), Carlton R. Smith (1936-1943), D. C. Shepard (1944-1952), James M. Freeman (1953-1958), and Oliver C. Smith (1959-1975). The Montana Coal and Iron Company was involuntarily dissolved in 1980.

The Montana Coal and Iron Company prospered through World War I. Both the Washoe / Smith Mine and the nearby Foster Creek Mine operated at full capacity. With warm winters and competition in the domestic market by natural gas, the company's fortunes declined through the 1920s and 1930s. The company's Smith Mine is most famous for the terrible explosion of February 27, 1943, which killed 73 miners.

From the guide to the Montana Coal and Iron Company records, 1889-1967, (Montana Historical Society Research Center)