Page "Palmer, Illinois" Paragraph 16

At one time it was the dream of a group of citizens in the area to sink a coal mine, bringing industry, employment, and fuel to the community.

The sight selected to sink the mine was in the southwest edge of town, on the north side of the railroad.

According to ledgers still in existence, kept on sinking of the shaft, MacDonald and Bro., did the drilling.

On March 30, 1872, the first share of stock was sold to Suplines Judd for $ 100.

Many other shares were also sold for $ 100, some for $ 70 and some for $ 50.

A total of seventy-two shares were sold in the amount of $ 5, 460.

Corporation papers were recorded on June 14, 1872.

The cost of sinking the shaft was $ 2. 50 per foot, and it is believed that the depth was approximately.

The last entry made in the ledger was Nov. 3, 1873, the sinking of the shaft was abandoned with no reason given.