The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-06-01
THE GREAT SALE YESTERDAY
The Peculiarities OF the
Movement.
An Exciting Demand and Surpris-
ing Reduction in Price.
Important Developments-The Small Mine Own
era to be Driven out-The Monopoliss IN
Mines and Railways Combined

During all the long struggle between the coal
mine workers and owners the HERALD has, as Is
1ts custom, kept its readers familiar with every
step in the progress or the unpleasant events
which have occurred, together with the pleas Of
EITHER party for the course they pursued.
We now come 10 new step IN the progress
howard q predetermined conclusion, by which the
wanna have decided to secure for the future more
perfect control OF their properly, and, for time at
least,
LOWER PRICE FOR COAL
20 all who 1t The great sale yesterday was the
opening OF the new rather the part OF the
nxed programme. The .strikes,'' as is known are,
IN their more unpleasant aspects, at an end. The
enects of the last horror have been measured the
mine workers are believed to have been hungered
worn and saddened, until desire for quarrel has
ceased, and with confidence in present regularity
she controllers of the quantity to be thrown upon
she market and OF the price to be demanded for it,
have commenced the new movement which they be-
lieve Win, while
DESTROYING THE SMALL NINE OWNERS,
restore the chiefs TO ''more favorable position In
the minds OF coalburners at LARGE
The sale yesterday was the first in the past six
months. II Is well known that the retail yards IN
this and the surrounding cities almost entirely
without a supply, as were the yards OF manufac-
turers and Others who very large amounts.
This fact created very general impression that the
first sale, on hungry and excited market would
realize very large prices, leaving return to the
range OF prices ruling before the coal night began to
subsequent sales. Such, however, not the case.
Those OF the retail dealers who were familiar with
the leading thought In the new programme bid ac-
sively but low. and when they did all they chose to
buy was knocked down TO them at, under the sup.
ply conditions, really moderate rates. Soon after
abe sale began which was conducted by Draper u
CO., at the Exchange place salesroom, 1t became
well understood that
THE $4,000 TONS
OF Scranton coal to be sold would be "et gop at an
average or less than six dollars per ton. Had the
holders desired more 1t is clear TO every familiar
with the scanty supply on hand they could have
secured 1t without having resort 10 even the more
common manGuvres for upnoldlng rates; but they
did not. and the reason Will be given below. The
bidding for stove and CRATE sizes was spirited; but
the prices bid were low.
LUMP STARTED AT FIVE DOLLARS PER TON,
and al that price a lot was sod. The remainder OF
that size went Ut from "a 90 10 81 621s.
THE SIZE USED on STEAMBOATS,
was started at "a so and the nrst ot sold at SIS
per ton. But the decline rapid ana subsequent
sales OF that kind were made at "a g7M, "a g5
81 S2, 81 So 81 10 and 81 70-a rather remal kable
decline with harbor Iul OF almost empty bankers.
was started at the rst lot went at IS os. and
second at So ora at winch otner sales We're made.
was started at SIS per ton; rose on bids-the imme-
olate demand being very large-to So 49, at whicn
all there was was Sold
STOVE
was started at SIS so; was changeable for a time
but finally rose TO the maximum rate on the card Of
the day, and was sold at So The demand was most
extraordinary, and yet In the OF that TACT the
subsequent sales were made at So o1s, 50 So SIS 50
ana IS TN.
CHESTNUT
was also IN good demand, and the bidding, though
lively, was low. 9he first lot started 81 the
other sales having fully satisfied buyers low
range OF rates was the rule Tor the day. and the
was knocked down at 81 90. The otner lots OF the
same size brought, some 81 IS ana others 81 6lh
Compared with the sale made fuliy SIX months
ago the following small difference Is shown In the
rarisa