The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1864-08-22
tnr LoNpoN CoAL rxcHANeE.


We extract the following interesting description
sf the New Coal Exchange in London -
what could this elegant and cOmmodiOus build
ipg have been erected for Certainly not for
any coal trade requiring such accommodation.
For, speak With any Of the three or four hundred
gentlemen who congregate here and what will
YOu hear? Why, you will hear, in the forcible
and yet figImatiye language which city gentlemen
delight to use that there Is no coal tradethat it
has gone to the dogs-is done up--smashed-
FOtten-on its last stlegs-and not worth rap.
Here, for instance, we are at the Coal Exchange
itself and here Is an intelligent, sharp-wtted
booking gentleman to whom we are personally
known, let as speak with him upon this subject.
He owes no gTndge to the world, and the world
ewes him none he is not bilious and as times 60,
hAs as good digestion as most men, though he
Believes in Cookies pills, and keeps supply Of
that priceless family medicine among his shirt
collars, yet how he bursts out, how he brlstles,
how he detOnates, how he perks up at the mere
mention of the trade TO which he belongs Com
modore Trxnnion, in his famous interview with
the exciseman, could scarcely have been more
vigorously yitnperatiye.
"Coal trade, sir !" he exclaims, and the stream
OF his eloquenceis stopped by DANA dam of
irrelevant calculations. Goal trade sir y be says
again, in minute or two. "Dont talk about it.
Il isn't worth talking about 1t won't bring
man bread and cheese. Look at this place
Examine il Cast your eye over i'll Docs il
look Ike place where man can get bread and
cheeseY
There was an announcement in one corner of
the room that Bass pale ale could be obtained in
draught or in bottle, and that Melton Mowbray
pOTk-pies might be had fresh. l thought it only
lair 70 assume, therefore, that the more frugal
fare he alluded TO could be obtained also. should
lave pointed this out to my friend, but he went
on before had time TO deliver myself
s"COal trade, sirW he exclaimed, for the third
and last time. "The coal trade is all U p Bel
loWs-mending would pay better"
Having no personal knowledge Of the industry
20 which be alluded, and being unproyided with
IN |
pelled to accept unmurmuringlY the information
my friend conveyed to me. And certainly, when
looked around the hall in which stood, the
mere external appearance of things was in favor
OF his assertion that the coal-trade had no Longer
any existence.
And here let me be frank with the reader. Ii
visiting the Coal Exchange did not expect tC
see coal in bulk being bought and sold. / did
not expect TO see half-hundred-w weight sacks
Standing on the floor, or superior qualities sam.
pied in brown paper bags. did not expect TO
iod. = or, "LooE here Do Down again pto' TO is 3D. -
inscribed upon them. did not expect TO ind
wholesale merchants resembling retail dealers,
or anticipate that there would be many features
Of external similarity between the coal-bro1er
and the coal whipper. But 1 did expect that,
.inasmuch as samples of wheat harley oats and
peas are displayed in Mark Lane, so samples OF
.buddle's West Harley, South Peareth, Tandeld
Moor, and Walker Primrose, whatever they may
.D0, would be displayed in Lower Thames street.
But no. In Coal Exchange coal was the one
substance nowhere seen. There wasn't even
knub!
11 11Outwardly, therefore, a. have said, there was
very little indication Of business; and for aught
Icould see 10 the contrary, the coal trade might
really have been as extinct as the megalonyX.
"Well, B" said l, "when my modest consumption
aecesstates the introduction Of fresh stores into
the cellar, know very welllhOw buy coal, but
/ can't for the life of me toll how you buy it."
"Wel, we buy IL in this manner" he replied,
evidently forgetting forthe moment, in his earnest
ne5s that the trade was in shattered, not TO say
Aaesparing condition; 1--WE buy-but first Of all
you see that this is q circular building
The fact was SO obvious that take no credit
70 myself for having already observed it before
"Well, you see these desks following the cir
cuMference OF the building here on the ground
floor. They are the desks Of the factors, and the
factors are Intermediary agents between the col
liery owner and the coal merchant, receiving o
commission for what they sell, Ike brokers in the
tolonisa trade"
Precisely. They sell; but how do you buy 2"
Ny friend made no reply, but took me to one
OF the,desks and told me 10 look at IT, did. 1t
was apparently of deal, painted black an ink
stand was sunk into t pens were lying about (;
and upon bed OF blotting paper hand-blll or
printed.
Read that said my friend, pointing to the
read it, and found that it ran something as
"Biake, Fielding & Co., per Star ofthe East. -
haVenSWorth .s.ssrs.s..s.ss.. '2t1
Sleek burn '..'''''''''.''''.'. leJ
Acorn Ci0Se.ss sss..s..s....s'.-..'.. ~
"There," said my friend, trumphantly, when
1 had finished the per1sal Of this inteligible and
instructive document, CHATS how we buy Goals o.
IL might De that lay intellect was somewha!
elondy, it might be that the explanation was Do
Ecient in ceernesF, but If my friend had told me
that he bought Goals by thinking of the frosty
Calcasls, or by wishing himself with Nancy, /
sbOnld have been Just as enlightened.
However, said in reply, with an expression
OF aclte sagacity, eliminating IN businesS-like
wink "oh that's hos you buy coal, is II? An
! seei those hgures---"
"Precisely those hsnres indicate thc number
Of tone offered, and the name iadiettes the pit
they conc from"
"But DO you never have samples 2"
"No. We are acquainted with all tue coal
brought O. the market, and when new coal is
lntrOduceG we buy it on the representations made
70 US by TIE factors; representations which of
course determine its price"
"Then il l. not until you have the coal in your
own hands that you really know its quality.
And what is tie amount of business annually
tanRacted heEc in this curious manner" I"
Last year h,amounted TO about three and
half millions OF tons"
"Well," said 1 "for trade that is on its last
legs that total doesn't seem bad. Somebody
must get:a living snt Of this decayed and de-
piorable Industry
But my yariend was not to be shaken by any
asneh shallow reasoning and impertinent banter
Sas this. He smiled, K is true, but il was a re-
e1lgned and melancholy smile; and then, pensiye
and srbdued, be led me 20 the upper gallery, and
showed me the nuseum Of the institution.
IL WGs deeply interesting. Every variety of
Coal was displayed there coal from Borneo coal
huap Prussia coal from New Zealand coal from
Sweden; ecai from Newcastle. There were spe-
cimeAs OF the beautiful Albcrtite, black as let
and with rich, lustrous polish upon ii that told
OF its bituminous character. Then there were
exAmpics OF the delicate crystElized coal from
MertnyK Tydyii, looking as though 1t had been
tscpaleo for exhibition as a curioas illustration
Snsns manual skill. Then in other cases were speci-
Sioree,1p 1peg9g the Impress of fern leaves and
What a - t1.ssvnctly as though stamped by die.
,,,,ist lss,le nNast when we emerged from this
sy,,s, hall Of Ecenee into a,larae bust
nfs ali snH MAJ tetl TOO was at its busiest No.
mlnhlly, ~ ls supposed ~ last oniv a., h 81
from O'Clock 20 q As mere y =. nout' gia'
However, IT lasts lpnGAS and does nv, ~, VI ias
nb nut three JuA now II Is ausrtss sioss ~ uutii
neot Tdingy bell rings loudly. No on 70 z, shd
Why e rings; no one can guess why Il rsn n',vNs ~,
custom ordains that il shall ring and n ,aoas ,Ous
ring hat If II failed 10 ring, business Vo,Ss
come 10 standRtill Is perhaps 700 much 20 assert
but that 4 terrible judgment would oyertake the
beadle II hs neglected this time -hOnored duty Isl
! think, more than probable.
ll Gf tH 4fh ulLl.