New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-12-16

1," ,e j.; ny, pO'' ;Vrotance IS the Pennsylvania
Cual COMPANY which also ships us coGf ~, hoI nv ~
ever the Delaware 8ad iiud on Iait nc i, go ~
this tre ia th0 littston d@stIeL ana lbe!I
improve neIis, inCluGmg Gla,iy I"'u vi SIT I1Li
miles IN euEb arc Eely C @..nM, S, NJ Nhose
The Iyljph Cosl and NatiE&tloA company; WIFE,
works anl wonderful gravity road he Just BACK OF
NDuCh Chunk, and tic LacKaWahha COai Ouii'paiS'
also very iinpoiiant Az mS"u Ivy W W. and
Ns,t;c,,k district aIe iHuUnerGble smaller corl-
psnie, tie principal Of which, uhul recently VIC
lie cpieLrattd Baltimore Company. whose coal hea
,avs been considered superior II quahty ana Nalhe
IN orv other These smaller mines 10 GA both sldes
Of tie Susauehala River for some 90 miles ana d req
rasoff an immense aggregate CaptaI--IIon t0OVV'
e. S50O zee bing the first cost Of shaft and the ma
bi,rry necessary 10 work it. But few OF all these
are more than paying current expenses ana some 'uo
The history OF the anthracite coal trade during tho
past five or Dix years has been that OF nearly every
mercantile and manufacturing business that was nos
killed al the commencement Of the war Tempted
by large profits and the excitCment or trade under
such an abnormal impetus, hundreds or eaPlt1nS.s
formed themselves into companies III NeN -I"ih n;
Boston, and other financial CenteIs, and c0mmenceq
extensive mining operations, without que regard
fol- the reaction that must inevitably follow. AS
consequence, the trade was chOked by an over sup
Ply and ut the termination Of the war, many OF the
con panies who had operated 80 rechcesly, SUD
denly fonnd themselves stranded, though still per
fcctly solvent, ON the immense heaps Oh cOal theI
had themselves exhumed. As the natural result OF
such q reaction, the smaller ana newer companies
who had enjoyed such brief season 81 prosperity
becoming QigguSt0L. anu CaCn DlOnln OiIlS
TO the dissatisfaction of these impatient fortune
seekers, making haste TO get rich' Is ire pros
poets Of the coming year are hardly better IMAM the
eXi ting state of affairs 10 is only natural taI many
individual OckhOideTs. and even entire companies
will feel DESTROYS of dispOslng OF their interest III
what appears like such an uncertain investment;
The officers Of these companies arc overwhelmed
with letters of inquiry respecting inc MINES the con
dit0n Of the finances the value OF the STOCK ana lle
likelihood Of dividends And ii IS no unusual thng
10 see gentlemen FROM the clay "prospectlpg, WIN
the knowing mir of men well veTsed in mining mat
tiers to see whether there is al actual cOal mime on
their coinpany'S land or whether they have been
the victims of swiudie, AMER me man,
ner Of CERTAIN petroleum operations OF hiSt0Ilca
fame. To satisfy the demands OF their stockhOloelS,
as well as 10 maintain their reputation IN the FLOCK
markets certain Of the little companies nave recently
paid small dividends ont OF their surpuS capital IN
the hope of largo earnings IN the 1ntuie' lniS s'e
Of affairs opens % glorious opportunity Ipl tho 90"
sud wealthy companies and they are inlly awe 70
the chauce and ready TO take advantage oi H. with
GOOD business Foresight they gradually absorbing
"a many AS possbe of the smaller enterprises, and IN
this way the trade viii eventually come INTO tue
hands of few extensive nonopolies that cannot
Tail Ia be Immensely proiitabie To ue iaFoIeu ones
who arc iOi tunato enough TO get within the rlng'
Unless majority of the stockholders stndy the III,
terests more closely than they are likely to do, ana
retain possession Of the mines IN spite OF present
nominal on microscopic dividends, Trey VIII ne
crowded out OF of the most profitable specui;I,
tionS to DO found within the limits Ot the United
STATES
As an Instance Of this may be mentioned the re,
cent purchase by the Delaware and Hudson Canal
CuuluaDV tupPiItlng through WHhi ~ hiipNh a.
The I-u0n Coal Company of the land Improvements
and stock of the Baltimore mines, for the sum OF
81 10000 ia nODey and negotiable STOCK There was
double motive in this purchase, u II true, ana the
same reason for the sale that will actuate many OF
the other companies when opportunity offers. HE
Delaware and Hudson Company whose pIlncpaI
works are in the CalbOndae distinct have nearly eX-
haustcd their old VEINS, and what coal remains Is not
of q quality equal to that OF the wyoming region.
Az the Baltimore coal has always stood FIRST Ia me
estimation of dealers and the public, owing 10 It's
purity aud the used in screening and removing
the slate IL Is undoubtedly the intention oil the pur-
chasers to mix IL with their poorer coal and send the
whole 20 market under the name of baltimore an
thncite. Another reason Is that but lew good VEINS
remain in the Carbonate and Scranton region, and
additional land is necessary to the further pTOsecu-
tion of their business. This great sale has been the
chief theme of conversation among coal operators
for some time past, who grayey shake their heads
and sigh over the uIwecOme consciousness that
New-YOIk money is buying them out IN spite OF
themselves
Al there is TO apparent probability Of the supply
OF coal now remaining on hand decreasing matel1-
ally within the next u months, at least, we need
hardly expect 70 il reach very hlgbpTlce az re-
tail. Coal which can be bought in any quantity az
Mauch Chunck for - - per tuu could be delivered
al doors at SO 20 o. s., ana stll leave as large
margin If pIOits IS any business man has night 10
eXptct There is no longer chance of the demand
exceeding the supply for the facilities for land and
water transportation perfect that enough could
10 f,ryorIcd iu b, yeek 10 last the consumers for
month The network Of railroads radiatmR from
WlkesbaTle connect the valley with all sections or
the East and South wmlo the canals uniting with
peake Bay hy way of HayTe de Grace, furnish ample
and speedy transportation for coal IN any direction
IT, therefore II attains high market price thlA WIN
ter il will DC owing to some tTlck OF the trade Inc
gIeat difficulty has always been that coal passes
through too many hands before 1t reaches the retail
els, and army OF hungry spectators STAND Teauy
10 levy toll IL at every turn aud corner OF IT. ROAD
from the mines 80 Our cellars. The new idea pro-
posed some two three seasons ago OF forming com,
panes Of consumers " ho purchase by the cargo aud
divide it retween them, IS COCO one ana can De
made profitable il honestly and sklfuly managed
/ by those conducting the negotiations.
in former times the market value OF coal was oc-
casionally aft cred BIZ rise in the price of labor
dictated by the unions among miners and Workmel'.
These occasional advances In wages and the frequent
! strikes aud turnOuts' were made good use OF by
heavy coal spectators who would supply themselves
in advance, OH Trustworthy information Of an
intended demonstration, and then bull the market at
the first intImatiOn of cessation OF work at the
mines This is thing Of the past, however, and bat
little chance for such speculations VIII be offered Tor
| the next year, at least As none OF the MINES arc
paving almost any pIeteXt would be accepted rs a
reason for dIschargng their hands and closing up for
! time benevolent desire 10 avert the fearful sur
fering and starvation that would inevitably follow
the dismissal OF so many thousand wolknen &C the
present season. and the difficulty Of getting equally
experienced and efficient body Of men together when
operations are actively resumed. are considerations
strong enough TO induce @ present sacrifice on the
part of the employers. The wOrkmen, who are
intelligent enough to appreciate the position IN
which they stand, are very quiet on the subject OF
wages, and accept what Ii now given them with
gratitude. Very little remains OF the troublesome
and ungOyernable spirit they once manifested; ior
they know that at the first intmabOn of any difficulty
the managers would he only too glad TO unite on
lock out and that the consequences 10 them would
be distressing in the extreme The utmost generosity
has characterized the dealings OF the companies with
their wOrkmen and it is TO be hoped the recipients Of
these faVOrs will remember them when better times
i shall have rendered them more independent
From all the above facts, it Will be seen that the
coal trade is hardly profitable al present TO those en-
gaged IN ID. Our national Characteristic impa-
tence Of that delay often necessary in the accom-
pshment of great results is likely 10 affect the value
| Of coal stock somewhat during the coming Winter.
As said before many individual stockholders and,