Overholt Diary

page 226 image in the Overholt Diarypage 227 image in the Overholt Diary

Mar. 10th 1871

226 Mar. 10th 1871

Uncle Clay's first coal purchase was at Broadford, + his partners were Father, Joseph Rist, + A.O. Tinstman. (see work entries of firm)

Uncle Clay sent word to West Overton to Father to come to Broadford to see him. He suggested that they buy a coal tract of 150 acres from John Rist, in payment in which each should give a ?? for $13,000.00.

Uncle Clay ?? + Father the management + the firm was styled "Overholt, Frick + Co"

Father was manager + Uncle Clay head, each at a salary of $1000 a year.

227Fifty ovens were first constructed, called "Novelty Works."

During excavation work for the ovens, 25 or 30 men were almost burned alive, being saved in the nick of time by Fathers calling to them in time.

This incident, together with the uncertain times, induced Father to resign + sell out his interest (Uncle Clay buying 1/2 of it, + A.O. Tinstman the other 1/2).

Father retired from the firm, "O, F. + CO." on June 20, '71, + the firm became known thereafter as "Frick + Co." (50 ovens just furnished when father retired.)

Father then remarked how ?? far sighted Uncle Clay was, far above everyone else.