New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-10-31
TIE COAL TRADE.

REDUCTION OF FORCE IN TIE MINES THREATENED
LOCAL SALES Observation-Disclosures or WHOLE
SALE AND RETAIL. DEALERS.
A visit at the agencies of some of the lead
ing coal companies yesterday demonstrated the fact
that branch OF the trade has also been affected TO
considerable extent by the panic This Is especially the
case with the wholesale business, the local and retail
trade rule continuing very good while prices, which
have uniformly increased somewhat each month during
the pnst year. seem to have settled for the Winter.
At the Philadelphia and Reading COmpanys office,
No Pine-st. 1t stated that the trade rather
quiet what they should wish 1t to be- s de-
pressing some had anticipated. As yet there had
been little trouble among the coal Dealers one firm only
that they knew Of had been obliged to suspend. This
was an Eastern firm with abundant assets, but the
ghtness OF the market prevented their making ooec-
tons, and temporary suspension became necessary
Two weeks aterward the same firm resumed business,
and promptly met all Liabilities SO far this Company
was concerned, the agent stated that they had now
moro orders on hand than they could al, and
they were at least six weeks behind In the
orders This did not imply any unusual amount Of bust
ness occasioned by difficulty In getting the coal
from the mines the market The retail trade their
various branch houses TINS city good As 10 the
rates, he SAID they had by mutual agreement among
the different companies been raising the price
per month for nearly year past. but 1t had
now been decided that the October priee-list should
stand for tho next few months, with the exception Of
Of stove coal upon which there had been fur
Their OF 10 cents per ton. This occasioned
by the great scarcity OF that SIZE 1t the desire OF
the companies keep their circular list within
able figures during the present troubled state Of
featuring interests AS yet they running full force
the mines did they propose any reduction either
In the number Of their employees their wages at pres
ent, but u general suspension OF the larger manuac
tories would certainly render such necessary
Mr. Hoyt of the PENNSYLVANIA Coal Company said their
trade seemed 10 be somewhat Effected but to what ex
tent it would lie difficult TO Their regular sales
were made March, and the majority Of their business
now was only the filing Of these contracts The retail
trade at their various places OF business continued good
The closing OF many OF the manufactures would proba
bly, still further affect their business, indeed 1t had
already doneiso indirectly. Many orders made would
probably be countermanded. They had made
It an inyariabe rule to trans
act other than strictly cash business
and many OF the contractors were anxious TO gain
time their purchases As with many other companies
they bad already been compelled TO reduce somegh hat
the number OF employees at their mines and still further
reduction seemed probable at 10 distant day II
little to bring the coal into the market at the pres
tanned, especially while the demand continued as light
at present 1t cost at least three times much
present to get the coal into the market did is years
ago, yet the price list was little or no higher.
At the office Of the Delaware and Hudson Canal Com
lie said their business was not as yet affected TO
material extent, Work was still going steadily at
Sales perhaps, not brisk could be wished,
still they might be much queter. Their circular list
the same with the others. They had not as yet
reduced their force OF employees In the mine but did
not know how soon such measure might be rendered
STATEMENTS OF RETAIL DEALERS
A TRIBUNE reporter called several OF the leading
retail coal dealers to ascertain II there would be any
in the price OF coal during the approaching cold
and what II any, had been the effect Of the panic
upon the trade The panic to have had very little
effect upon the retail dealers, OF their sales are
for cash. Sales about the last wear and
though prices are on An average 81 higher than
they year yet there to be anticipa
ton Of further rise Since last February the leading
coal companies have increased their price 10 per
ton each mouth freight rates have been
The retail dealers do not change their prices until there
a rise VI about 80 by tue wholesale companies so
that small fluctuations have no effect upon the proo
paid by Consumers and there will probably 1s any
change before January sufficient TO affect the retail
pr1iese ri, 81. .oo,,.
price OF coal had changed since last February and
1t was not probable that there would be any change
this year. The panic had affected the business very
little as s cash basis during the FAN and Winter
He knew that tue Reading Coal Company had retail
onces IN me city Dn qua not That TINS had affected
the price Of coal The price had advanced about 81 "A
ton since last owing 20 the combination formed Dy
the large coal companies His trade good AS Ii
At j. skidniore sons at Fourth-ave and Thirteenth
st. MI skdmore said that the retail price of coal mad
not changed during the past eight months aud would
not probably this Tue panic had Affected the
price sales were as large rs usual. ago coal
companies were selling coal at 80 cents per than
10 cost them 10 produce IL but by forming cOnbina
ton they had raised the average price about 81 but
there would be no further rise.
Mr.. Riddle Of Riddle, Brndle Co. OF No. IT'S Fifth
said that the price Of coal had risen during the
Summer, but would not probably 90 any higher though
lower Tue retail price OF coal had not changed since
| last July and salos were AS large as usual.
Edward Elliott OF tue nrm VI Underhi Elliott Of