New-York tribune., 1873-02-06
Dividends ProbA.
DiVideris aboGtto be (
paid. Ter be paid. ture
THE COAL QUESTION.
THE NEw-ENGLAND COAL TRADE.

BOsroN, Feb. A mercantile firm here
have received a letter from Mr. +. b. Gowen OF the
Reading Coal Company, wherein he states that they
have reduced the retail price Of coal in Philadelphia
81 co per tun and says II any Philadelphia consumer
of coal Is fearful OF the result OF monopoly Of the
retail trade will enter into contract with him. with
good sufficient surees. to sell him all the coal he
wants for twenty years at prices which shall never be
within 50 cents high the average OF the last ten
yearstaking gold as the standard OF value" He holds
that their course will result greatly to the benefit OF
both manufacturers and consumers In New-England.
Both classes want good coal at fair prices, which, once
established in the Spring shall be either steady through
out the year. gradually increasing as the season ad-
He points out that the local business OF the Reading
Railroad has largely increased. although its through
traffic remained stationary for 10 years, and con-
clud9s as follows:
"No one should hold the post Of President Of large
railroad company unless NJ has moral courage enough
10 foew out the path that he believes 10 be right unds
urbed by any mpuat0ps upon his character and unaf
feced by any popular or newspaper clanOr nave an
oldfashioned idea that make more money by be-
ing honest than by being dishonest and propose bot
to abandon this idea until have given II fair trial
NAV manage the affairs OF company. and will pick
up my green bag and 20 back to practicing law"
REVIEW OF MIR. BoRDNs ARGUMENT.
! TO the EdftOr Of The Tribune.
SIR: As there are always two sides to every
question So / think, the specious argument OF the
President Of the Philadelphia Coal Exchange viewed
from different position, loses much of its Intended
force and susains the claims OF Mr.. Gowen. ask a
very little Of your space TO make this clear.
In a former letter gave a synopsis OF the coal trade
from its infancy to the present time, and showed that
the Reading Road exchange for the facilities 1t has
afforded to get the product Of the mines to tide water
has received very small reward. The quarres and bck
erngs Of the schuylkil County operators briefly
alluded TO- and their injurious influence upon the inter
ests of both producer and consumer suggested.
showed, or attempted to show. that Mr.. Gowen had
adopted the only practicable scheme to neutralze this
state of things, by buying out the factOus owners and
uniting the whole Schuylk County interest in one con
solidated organization The universal howl that has
been uttered by the middlemen # indicates anything
at ALL shows that Mr. Gowen's plan carried into
execution none too soon.
any uprcudced person study the statistics Of the
Reading Railroad tolls, and he will find that they have
never been any than fairly remuneTative. When
we consider the facilities It has given-in branch rail
roads cars wharfage conyeniences barges 10 NewYok
and the Sound well.regulated and fixed freights to
this CITY, and towaee 10 the Sound ports-the profits
reaped by the railway very meager indeed. Just
think for one moment OF all these particulars, and
imagine in what a condition the PENNSYLVANIA coal
interest land consequently the whole Eastern mauuac
turing interest of the United States) would be to-day
without them Then, il please, turn to Mr. Borda's
letter in your les look at his statistical tao and see
how completely 1t refutes the very argument IL Is In
tended to point Surely with such report OF ten years
of shipments from Port Richmond staring them In the
face is it any wonder that Mr.. Gowen and his stock
affairs as a matter of simple sepreservatiOn Why
coal sold low s. 60 board at Port Richmond,
last year. and delivered in NewYOrk at 81 20 10 81 75
railway tolls had not been prepostorousy low
10 make this possible
The competition of the New-York companies, who
were determined to stop this business OF disturbing and
deb auching the market by the shipment by war
ring operators of great quantities of inferior grades OF
Schuyk County Goals, and forcing them on the mar
any price they would bring the cause Of dis
aster the Schuykill County people. IL not the
tolls OF the Reading Road Mr. BOrdas letter lights up
the whole secret In spite OF himself IL shows the Read
ing Roads enormous decrease lin prOts"proving the
inadequacy OF its tolls and the very large increase In
the cost OF Transporting cOapwhich proves the
sy radical change aud the tremendous increase
in the Indebtedness OF the C0mpany"-whch CAPS the
climax and shows that Mr.. GOweD, in doing what he
has, has shown himself OF brains and master Of
the situation His energetic and sensible action
just Ia the nick OF time 10 the coal interest from the
bankruptcy toward which it drifting ana to give
life, vgOr, and hope.
While must suffer who are the victims OF crcum-
stances antecedent 10 Mr.. GOwen's move and not It's
consequence. the public will gain at once, and the
Schuylki County operators also, in the end. In
cuslon refer you again 10 Mr.. Gowens proposition"
as given at close OF Mr.. BOras letter. tOr every
word Of shows In ITS writer keen appreciation Of the
position of affairs and points the toward extT
cation from present deplorable difficulties:
Heto- York, Jan. 90, 1873. WALTER LAWToS,