The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-05-04

substantially during the winter, and when COM
pleted they ought with the increased waterway
superstructure, to resist future floods. As no
through business could be done on this canal dur
ing hg tne aemsn1es Oh sne year economy rather e
Iehigh Canal and it was not opened until Novem-
Der 16 at which date the portions of the Delaware
Division above and below the aqueducts were also
The extraordinary repairs to the Lehigh Canal
during the year amounted to about $4,000, and
those to the Delaware Division to about $50 900.
The additional amount required beyond the cost of
will be not far from $4,000, which will properIV
be chargeable to the revenue of 1869, having been
made necessary by the freshet Of that year.
Board desire to express their obligations to their
associate, Mr. John Lesenring, for his efficient aid
during the height of the storm in preserving the
dam at Mauch Chunk from destruction. Also, for
his assistance and advice thereafter in both rail-
road and canal repairs. All of the Company's
officers and employees labored earnestly in restoring
our works, and they derived great benefit from Mr.
Lesenrings large experience in the freshets Of the
A reference TO the reports of this Company for
the last thirty years will show that the Lehgh
@ ng was s Ss 1amsgea gea In IN S 1850 aRd
intermediate years was trifllng. The freshet of
October last, while making evident the fact that
naces, with their cinder banks, increase from year
to year the danger to the canal, by narrowing and
increasing the depth and rapidity of the river dur
ing seasons of high water, also shows that whore
the greatest damage was done in 1862, change of
location saved the canal at those points from any
injury, and that similar changes can be made at
other points which suffered severely in this freshet
with like result
Much has already been done to improve the De-
laware Division and to protect it from high water
by raising the banks, building stop-gates and re-
newing locks, and with the completion Of the new
aqueducts and other works now in progress, that
canal may be regarded as less liable to injury than
at any previous period
have always been charged to maintenance for the
current year. 1t is proposed to continue these i'm
provements and to strengthen all weak points on
the Lehigh Canal developed by the last freshet.
COAL INTERESTS.
In the supple mentary report submitted last year
ing suspension of labor in the coal regions. The
miners demanded that their wages should be gov
eLned by the price of coal, and after suspension
of six weeks they carried their point in the Schuyl
kill and Wyoming regions. After eight weeks sus-
pension the Lehigh operators also yielded. The
terms of settlement were so unsatisfactory to the
operators in the latter region that, after trial of
few weeks, they generally notified the men that
they could no longer pay the prices, and second
suspension for over two months resulted. This
Company having arranged with its men more
favorable terms than others in July, did not join in
the second suspension, which resulted to those who
participated in a considerable saving from their
previous contract and lower rates than we were
paying. Even with this gain the prices of labor are
very much higher throughout the Lehigh than in
either the Schuylkill or Wyoming region, thus
taking to certain extent from these operators their
advantages of nearness to market and superior
The greater portion of our Lehigh coal was sent
rupted by the freshet. Arrangements for the ship
ment of our whole product by rail during the
winter were in progress at the time, and were COM
pleted as speedily possible, but the production
during October, November and December
much less than if no change of mode of transporta
strike of eight weeks from May 10 to July s, pre-
vented the realization of our expectations Of
large ga bu oyer @ no S9S on 1oa b
months of the year coal sold at high prices but the
cost of mining was increased in much greater
prices at which the coal was sold, SO that we made
no greater profit for the year than we should have
mSerae Sde 0 proes but srester ularty Oh
The coal agency established In New York, re-
ferred to in the last annual report, has worked
satisfactorily, and promises to be of Increasing ad-
There is a considerable demand in this city for
our Soa for family use and mot asxng a @
Board has decided to open g yard from which to
sell and deliver the product of our various mines.
With this view we have purchaseda property on the
North Pennsylvania Railroad, between Diamond
a capacity to meet large demand.
The II ,144 snares OF Wilkesbarre Coal and Iron
Company stock purchased in 1861 was sold in june
last and the Company received in exchange a
tract of 2000 acres of land near the foot OF our
Wilkesbarre planes, and considerable sum OF
money in addition. Valuing the land at the very
low price of s245 per acre, we realized the par
value of our own stock given in exchange for the
Wilkesbarre stock in September, 1867. Whatever
be regarded as profit on the transaction.
The purchase of stock was made for the purpose
of ensuring tonnage for our railroads and canals,
and was induced by the policy of some of the large
companies operating in the Wyoming region Of con-
trolling large bodies of coal lands That policy Is
still continued and at this time all OF the railroad
and canal companies leading from that region own
and lease extensive tracts or land. 1t W5 not re-
garded as prudent to dispose of the Company's in
terest in the Wilkesbarre Coal and Iron Company
stock possibly resulting in the withdrawal of their
business, without making other arrangements for
trade.
and Iron Company in Hanover township adjoin the
Biddle lands, and the two tracts amount to over
$500 acres. nearly all within the coal field. The
Cook tract near this body of land has about 100
acres of coal. In addition purchases have been
made to the extent of $3.50 located in Newport
township five miles distant from the western limit
of the Hanover township tract.
The reasons that led to the sale of the stock and
the purchase of these lands were various The price
offered was considered higher relatively, than the
lands could be purchased at.
Large expenditures would be necessary during
the next two three years to continue the coal
product of the Wikesbarre Coal and Iron Compa-
ny at the rate of 1869, and further expenditures
were deemed judcious TO increase the product and
diminish the cost OF mining. While we owned
majority of the stock, the remaining stockholders
were indisposed TO advance any portion of the
money necessary for these Developments. 1t was
estimated that no larger expenditure during 1869
beyond the proceeds of the sale OF the Wilkesbarre
Coal and Iron Company stock, to purchase the
large body of land and give the entire control of
and profit large product of coal, than 1t would
be necessary for us to advance to retain the control
ana nalf ownership Ol pIOpSIly VI INC WnhoS-
barre Coal and Iron Company.
The only operations on the Hanover lands are
those of MessTs. Parrish & Thomas, who mine from
a portion of the property under lease granted in
1866 which Yields rental of about $50, 600 per
mum. A shaft near the middle OF the property on
the line of the Pennsylvania Canal shows the top
vein to be unusually fine in quality at that point,
and at early period it will be advisable to build
a breaker and open the mine.
on the Newport lands extensive developments
were in progress at the time of purchase, for the
details of which see the report of the superin-
tendent. They contemplate production of 30O,O 900