The sun., 1873-01-27
THE GREAT COAL BUBBLE
THE READING RAILROAD MONOP-
oZYAND ITS DESIGNS.
The Authrncite Coal suppIy OF the Coustry
In the Grasp OF One Maz-what Leading
Csei Cousunsers ssy abeut H-Securink
nil the Ayeuurs IN the Coal Vk~lds.

CeUt GOusunsers say nbeut H-Securtnt
nll the Avenues 90 the Coal yields.
Correspondence OF the sun.
HAMBURG, Pa, Jan. 23.-"The great diffi-
Guilty In this Reading coal bubble 10 not a wH
between Mr.. Gowen Of the Reading Coal and
Iron Company or Railroad Company, which
ever way the people may choose to take II, and
the retailers OF the schuylkiil valley and Phils-
delphia, but 10 Ia, or viii he, q sanguinary con-
1ict between Mr.. Gowen and his Ring Of opef-
ators and the manufacturing interests Of tine
whole Atlantic secboard, " new line OF COM
muncation With the coal regions and tide
water IA not constructed" Those are the words
spoken to your correspondents by one Of the
most prominent manufacturers and fnauciers
OF Pennsylvania. We were travelling up the
schuylkilI valley yesterday, and for the purpose
OF obtaining the views OF so prominent a man
he was approached and interviewed. He con
tinued
my private opinion is that Mr.. Gowen first
started this complaint Of the retailers even be-
fore he advised the company to open retail
yards. This he did, and soon afterward appear
ed In the public prints, covering only such
points as he had at first agitated. II Is his
principal object and the object Of his company
to direct all attention TO the controversy now
going on between himself and the Retail Coal
Board OF Philadelphia While the people are
moves, his trusty agents are closing negotiations
with the other great coal carrying mohopolcs
of the country and moving on the last capture
Of the battle. There Ia 1ittle doubt but that Mr..
Packer would be at the head and front OF this
movement himself, had not Mr.. Gowen been the
SHARP. sHREwp, CALCULATING rIsAScIER
and operator that he is. The Lehigh Valley,
North PennsyIvsnis, Delaware,t Lsckawanna
and Western lines were making terrible inroads
upon the coal territory Of the anthracite regions,
and Mr.. Gowen detected this. He made all
haste to England, negotiated q necessary loan,
returned, and at once commenced buying thou
sands Of acres OF coal lands. Mr Packer then
knew It was useless TO proceed INDEPENDENTLY
OF Mr.. Gowen, and as the latter gentleman is
the younger and fully able to carry out the
monopoly and tight II TO the bitter end. he was
selected to carry the corner through and do just
as he thought was best TO bring about the do
Gowen was made President through the exer-
| tions Of Mr.. Packer Is not correct. Therefore
! the retailers and middlernen all a sham night on
the part of the co-compact, the real object Of the
which will enable them TO carry out their scheme
TO that end, which viii put the wholesale coal
consumers Of the whole Atlantic seaboard At
their mercy. The retail consumption Of coal s
but trife compared TO that used In bulk and
! IL not evident that the wholesale markets can
alsoi a company that will go as far as u has
gone will go 10 the very end, and the time 10 not
| The gentleman left the train al Reading TO
/ proceed TO Harrisburg. IL Is matter of much
J surprise 10 hear the manufacturers OF that city
| and the whole valley speak as earnestly as they
| do. There IL now under contract the building
Of the ierks County Rsilrosd, an extension % OF
| finished, will be another through line from tide
! water at Wilmington, Del. TO the coal regions
/ This viii be the only check
THIS GREAT COAL MONOPOLY
can have. The road is finished, equipped. and
, IN running order as far as Birdsboro, ten miles
below Reading; and the through line will be nm
] ished and in running order in less than year.
! Mr. Gowen, II Is said cannot buy or prevent the
| completion OF this new line and that is the only
! stock is held by the Messrs. Dupont OF Delaware,
and they never sell ANYTHING but powder. The
/ towen and the whole Reading corporation. own
! the remainder Of the controlling stock OF the
may be- way Yet YETI remamns ming 10 break the back
OF this huge coal monster that is not yet two
YEAR od mr. G9weh h9TsSss as pHssqns hs
purchase OF this new line. II that IL brought
about, the compact VIII be complete, and the
| head. This new line, about which there has
! been much said, when completed can furnish
I Wish IL pases the iSss tracks Of the
Railroad AZ Coatesvllle, only a short distance
oftons can be shipped TO that city at areduoed
cost The Reading Company know this, aud
hence IL is that the stock Is being negotiated FOL
by the agents and representatives OF the Read.
ing Company. The attention OF the Pbiladel.
phia retailers h being diverted, and
II THE TRUTH WERE TOLD,
the present sole aim and object, the only thinl
remaining for tae Reading Company to do, Is tC
secure this new line to the coal regions, no mat.
Ter at what price prominent pa.s cHa deae. @ ol
hours ago; "f the Philadelphia retailers, ii
place OF arguing the question with Mr.. Cover
vent the Reading Company from gainins.a CON
trolling Interest In this ,,d new road 1t would b'
this n point % said: p new new line that cannot b
thing that viii save the manufacturers from IN;
imposition. OF this projected coal corner, A.
interest to block up the coal market and impos'
upon the furnaces along the line OF his road in
ton OF pig iron that Is made. In other words, th
freight charge on the iron ore, coal, and lime
away would amount TO that figure. But Mr.
Gowen knows very well he can Oh arge from Y
to o. more for coal by the car, and yet not clos
up the furnaces. The country at large, particul
larly those retailers who are at present maxim
such an ado about the matter should watch th
Stockholders Of this new company that Is to rul
to the coal regions"
A Wilmington gentleman, who is stopping a
your correspondent that by this new line Goa
can be delivered In New York much cheape
than by the present routes, but that the dange
OF losing the route is Imminent. The Reading
Company are doing all they can 10 enGct Pun
chase oi the line In the New Jersey West I'm
large, particularly New York; but since Nj
Packer has gained a controlling Interest the pee
pie cannot look in that direction.
GOwES's INTRIGUEs.
Some three weeks ago the Philadelphia CORE
spondent II the Reading Eagle announced th'
the Reading road had actually bought the ne
| line TO the coal regions which announcemeT
| created an intenss excitement all over I'll
. country. Then IL was that this coal bubble wa
| first ventilated, but by some means Mr.. Cove
Z has succeeded in repTessing the correspondeT
or smotherlng the Press; and thus has preven
| ed further expose OF his Intentions or woT
, | in that direction. The report that the road ha
= | been purchased may have been premature, bt
| there Ia very little doubt but that Mr.. Cove
] md his people are trying earnestly at the presei
I time to gain possession Of the new highway.
: he does, then the compact will be closed, an
= the present local prattle among retailers alor
9 the line will sink into insignincance, AS the WI
= wings Its way to the great coal boards OF Il
Q "Then there will he a complete lock-ou
o which no power in the country can break, as
o other line can be constructed, The Legi slatu
will not be allowed TO charter a new compan
9 by the power that owns and controls II, said
Q iron manufacturer, whose stability has been col
4 sideraDly shaken since the appearance Of tn
late bubble.
. Several gentlemen OF this section also assert'
,. that
10 .rtrnp worT n NOT nm AIJnwED