New-York tribune., 1873-01-15
the day. and over Ohio. Kentucky and Tonnessss dur
in1 ha DIRht
THE COIL QUESTION
EXPLANATION BY THE READING compAsY-TIiE
LEADING COAL MEN ABOUT TO MEET IN

EXPLANATION BY THE READING coMpASY-rnE
LEADING COAL MEN ABOUT TO MEET IN
| NEW YORK. i4-IL
| In an interview, yesterday, Mr.. +. A. Quin-
| lard, who represents tho Philadelphia and Reading
Railroad this city, and attends 30 ts general interests
here said that the coal business was unpronsoe last
year and the Reading Railroad Company bad resoVed
10 improve its prospects. The Reading Coal and Ioh
Company had resolved TO sell by retail IN Phiianeips
with the view OF promoting the common interest OF pro
ducers and present the coery owner IN
the Schuyn region consigns his coal 70 an agent In
Philadelphia who sells it the retail dealer who' "
turn, disposes Of it TO the general consumers Tie
Reading Coal Company, by embodying the duties Oh
miner, carrier. and dealer in ITSELF VIII effect saving
which cannot but be advantageous the public In this
city there three great coal companies the retail
trade and the public better supplied than when the
| trade entirely in the hands of dealers
The Reading Company does not intend 10 use any
coercion. Mfr. Franklin Gowen the President Of tho
Reading Road Of the clear-headed In the
country, and will do nothing that wall interfere with the
transit OF coal the road In many instances he adj
yanced money at per cent to coliery owners and
aays forebOre from using any pressure with the view
OF inducing them to agree his plans The combining
OF the coal and railroad business. which regarded
leading TO abuses done for selfprotecton. IL re-
suited from the necessities OF the trade The fears re-
glrdng the mixing of coal are groundless It has been
the uniform constant practice OF largo company TO
mix the coal OF different mines. and by doing II has
been able to supply regularly article OF Uniform
quality.
In addition the foregoing observations. the follow
ing from the recent report Of the Reading Rail
road indicate the nature Of the plans Of the Coal Com
pany and the great extent of its business:
The Philadelphia and Reading Coal and iron Company
has continued 70 ownership OF lands aud
now controls 40 0 or anthracite coal lands
upon there cOeres. Most OF these cOleres
are worked By e5sees but d OF the largest OF them are
now owned and Will be worked by the Company. The
and rents derived frOm this tuunage amounted W
s9i6T74 90. The Coal ana Iron Company Will mine next
year between 100000 15000DO tuDs from Its own
lands and including this product u is believed that the
az least l10OOOO tuns during tho year 1873 Should the
anticpations formed ~ the coal trade for the coming
season prove correct the managers believe that the Coal
and Iron Company will during this year when IL but
the second OF its existence be IN receipt OF an income
sufficient pay the Interest upon the entire cost OF It's
property.
The report says that the managers have resolved
to build feet steam collIers, some Of COO and some
OF 200 capacity. and TO erect shipyard at Port
Richmond.
It is believed in the NewYork coal trade that the
Reading Coal Company intends monOpolize tho sale
OF schuylnl coal in this city which s now transacted
by about 20 firms 1t Is also considered probable that
the steam coers will De used to deliver coal direct from
the depot the Delaware TO purchasers in this city and
Jersey City.
meeting OF the principal men OF the leading coal
companies Will be held this week, 1t is believed,
with the view OF deciding upon uniform course OF
action.