The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-08-01

What the Advance i'm Price
Means.
THE TROUBLE AT THE MINES.
A Corner. i'm the Coal HUI
SineSS.
ATE COOPERATIVE SYSTEM in MINING.

There has been steady advance In the retail price
OF coal since June l. when the system settled upon
Tor the causing Of advance had been gotten fairly
stwork. combination for this purpose was pre-.
dicted BY expert observers Of the trade early as
last January, the tact being that never was the
tendency Of large companies to swallow
smaller more actively displayed than In the opera
lions Of last year. Tho year 1850 opened with tho
annthiiation Of numerous small companies and the
accumulation OF vast auounts OF mining property
BY lease and Zee simple In the hands OF lew ggau-
To corporations. Combination was thus made easy,
and the result was that early in the spring meeting
Of the leading companies held In this CITY with
. view to regulate the production Of coal. Al
this meeting the proposition to limit prOduc-
ton In order to cause An advance In
prices found most favor, and though the
sessions Of the convention were private when
the convention adjourned 1t was pretty well under
stood among coal mou that the thing had been ar
ranged, and an advance in prices might have been
fOretoid The retaii has risen to - 90 $I1 per
con; and a. tins July) IL the season when country
dealers ship their supplies It may be anticipated that
prices are not likely to ia this season, Or at least
net earlier than January. the July and Au-
gust rates on this account. IN fact are
pretty nearly indicative OF the rates for
>ne year, the rates dealers In the interior
pay generally controlling the price at the seaboard;
and as the trade ID in the hands OF less companies
and larger ones than formerly lt Is less dlilcuG to
manipulate the market Speculative enough the
coal business ways BEEN and sometimes rather
dishonest IN It's pracces; Dut never before
pOrtunites for controlling the trade by combination
been presented Of wicn 50 easy an advantage c0uio
be TAKEN Last iail attempt was made TO force up
prices by holding back suppnes; tins season at
tempt has been made 70 reduce the volume Of pro-
ductt0n.
RELATIVE STATISTICS
will serve TO illustrate anu make the subject COM
prehensibe. Notwithstanding the troubles In the
Schuyiktii region the voune produced last year was
1000,000 tons Iii eXcesa OF that Of 1857. me
volume OF THE Schuyikih region had bSen lessened
by neariy $4,000 toas; tnat OF the several other
regions had Increased something more than 1850 900
tons. The whole so.ame Of production was equal
20 almost la,oJo,ooo TONS of which l,0oo, 900
or the remaining 100000 tons about hAn
Is divided between the New York and Philadelphia
and Ia snaier qualtt,es It Will ne seen by glance
vt the Gsures that Tue supply for this year VIII he
ample. for instance, the coal tonnage VI the Read
ing Railroad-tne great artery between the coal re-
gion aud Ph.iadel p.ils-was, for the week ending
July ~, 1880 tOns, which, added to the previous
2,oaO,ao9 tons, agaiust I,sl66oi tens to the
same date III lauo. The increase therefore, has
been $4,000 TONS me Schuyikill Navigation Coul-
pany had some decrease or tonnage, naviaQ for.
w8rded Tor the week I5,U5l tons and Tor the year
3l4 1853 tons against 4i9,5o6 for the corresponding
months OF last season. me decrease Is therefore
only 1885, LOB tons whence, deductin2 the increase OF
the road, II Is found tiIat the production OF the
ScnuylkLl region only 1856 bealnd last year. For
the same weeA The tonnage or al the great arteries
from tue coal region was 3IA11 TONS against
l53.O29 for last year, same week, when the miners
the '' tonnage the ave great sas thSs
lar hos been 4o3 500 Ons against 1854 253 for
1SGS. The decrease ~ An, gOo tons, or almost nall
million. II nothing happens, therefore, taxing into
account the TACT mat the suspension lasted until
August ~. IN the four weeks yet to come To iii up
ceeded that OF zoos ny vt least 10000 TONS
When al tho regions are In full blast cue
average weekly production Is $4,000 tons Tor
was SO last year, giving nom August "A
TO November 80 i0il product OF 100000
TONS The collieries IN the different regions
(July) all Ht WORK except the TWO companies the
Scranton region, and neDce there IL every reason
believe that the supply Of 1863 Will somewhat ex-
coed t5,00v,U0o TONS which was in the course of
trade proved 10 De more than euuai to the demand
Tor tho 1850. Tue act 10 the demand, OWING 10
high prices, nus increased very little for the past
years. For MISUNDERSTANDING purposes, III TACT, the
call has rather iessened Of the two while Tor
domestic consumption there has been q trining
Increase; and, On the whole. what with high priceA
and uncertainty rates at that the tendency Ii
TO Use vita the u5aiost economy. Dealers and coal
companies a have thus IN measure defeated their
mand. The natural consumption or coal, were
prices az tney should be and coal movements less
speculative ought not " fail short OF 600 00J tons
Annually in the New York MARKET while as Il Is the
consumption nos over 400U, CO., and Ia not likely to
Increase wth ANY Tapl.iNy. In 1894 IL 600 OO0 was
equal 10 the need 0t the whole country; in 1855
1a,0so, 600 was somewhat In excess VI consumpuon
and the probability ls that the lo,o00,00 OF iss8
ducers, the remainder neIng sold at an exorbisant
profit thus speculation defeats Itself, and through
Il the trade is hanpered and suffers.
BASED upon the IDEA OF deficient supply the ad-
vance Is ABSURD S Ii proved by the figures, and Will
IN the end defeat It's own purposes by leaving q
large production on the hands or the c0mpauIes;
Tor, AZ present rates win the economy Of consump-
ti0n Occasioned, the demand exceed To- OJO 90
tons soouer or later the excessive 600 OvO must
be sold at loss lhis conclusion Is based upon
the TACT that ARRANGEMENTS were made by conlpa-
MES To swell Tie prouu tion OF 1869 1901 OUJ,
ar arrl OF hna
or property anu implements must lie idle and non.
remunerative GA tnclr hands. The year opened
WIN, WIN prospect Of low low prices aud stimu.
that by the adoption OF another system
the promise OF the year Is to be rendered null and
void to the ultimate 1888 OF the coal regions. The
INST business vi the spring meeting Inculcate
measures 10 deeat the sLeam boat transpOrta
ton movement, wnicb promised TO reduce the cost
oil getting the arc.e 10 the seab0ard by one-lalf.
This done cUnO,ndtion was eifeced to force the
price Of coal as lar above the nominal figure as pos
was Introduced. Nor did the trouble as alleged in
VINO had enough o. strikes last year. The strike was
In reality instigated~ Dy the companies Tor the
very purpose OF decreasing the supply or raising
nus ana cry To tlat elect. The rationale OF the
matter was rst 10 decrease the supply for the ear
er part OF the season, until July, thus compelling
p Guy r0m Inc Inferior to buy at hian rates with
would govern those OF the latter part OF the season.
secondly having forced up the price, to forward
izng rs heashy as possible the fali buying of the
grea cities; and thirdly If necessary 10 adopt the
dd November trick OF holding back shipments to
stimulate prices.
by these means It was anticipated that prices
might be forcea up and kept up with large pour.
ting Of supply into the MARKET thus far that game mas
been successful. whether the rest Of the season viii
favor tirem remains TO be seen; but It may be
shrewdy suspected that the failure must come
aud there need be surprise II
prices iaii TO the lowest minimum before
The better way Is for Interior
dealers to be IN no hurry about buying
thus permitting the companies TO defeat them
selves through scanty realization on the July and
August trade. which VIII leave them Wiling enough
10 abate their pretensoaS- The aborers throughout
the Pennsylvania region belong mostly to compact
and Uniform ORGANIZATION and It was easy therefore
10 bring about the contemplated movement. 10 IN
volved pledge on the part of the companies to
share with tue miners the PROFITS OF certain Gxed
rate at Inc seaboard, and pledge on the part OF the
laborers to keep up the price oy stopping produc-
ton WhanAyRr aaar 70 Ia