The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-12
THE COAL COMBINATION.

No Action Agreed Upon-Reasons Why
the Advance In Prices Was COntem-
plated.
1t appears from inquiry among the officers Of the
principal coalproducing and transportation CON-
panies that there is now no immediate danger OF
an advance In the price OF that very valuable and
comfort-y yielding commodity. The chief agitation
on this subject has been among the Dealers as they
were the first to become aware Of the proposed
combination among the great corporations to put
up the price. To o certain extent, too,
they have been rather Industrious in circu-
lating the rumor in kindly sort
OF way, OF course, so as to prepare the
public mind for the shock and lead IL to more
gentle submission OF terms. 1t is claimed among the
great coal corporations--those who produce as well
as those that do the transportatiOn-that the adj
vance will be resorted to only as necessity, as the
prices which have prevailed during the past year
or two do not yield fair average percentage on
their capital In 1872 the product OF coal brought
into market was about twenty million tons, as
against between fifteen and sixteen millions
for the preceding year. This, 1t will
be seen, was an increase in the supply OF
about twenty per cent, and no corresponding In
crease IN the demand and consumption was OBJ
servable In fact the product OF 1871 was In excess
Of the demand, and the result was that the over
stocked market went down to present low rates.
With view to protect themselves against what
promised to result as 0 loss to these companies. q
number of informal conferences or consultations
have been held between representatives OF some
three or four of the largest corporations, at which
the subject OF prospective increase OF rates was
mooted In the most Informal manner Yesterday
afternoon HERALD reporter called at the office Of
the Delaware, Lackawanna and western Railroad
COMPANY and learned from Mr. T.. b. Holden, the
coal salesman OF that concern, that nothing had
resulted from these consultations. He said: =
..These consultations have been held at various
times during the past six months, and were ori-
Qinay intended to affect the trade OF 1873 But
they were OF so informal a character that nothing
whatever resulted from them, though doubtless
they might crystalline the effort into action In
very short time. The chief ideas among the con-
suting parties was to so regulate the product OF
coal at the mines and Its supply In the marts for
actual consumption that fair paying rates could
he main tanned With some OF the companies
IL has been problem how TO avoid bankruptcy at
the rates which have prevailed during the past two
years ana with the best OF them the exhibit was
by no means gratifying compared with the capital
invested | hardly think anything will be decided
upon that will AFFECT the prices during the present
Winter, as there does not seem at present 10 DC
any concert Of action contemplated"
The reporter visited the oflces OF several othei
coal corporations and had conversations with theii
officers but they did not differ materially In theii
views from those entertained and expressed BY
Mr. Holden. The conversations In some cases were
quite lengthy, but the facts given above are al
that could prove OF any interest to the public OF
the subject.