Evening star. [volume] (Washington, D.C.) 1854-1972, 1874-01-03
A Vast MOnopolx.
CONSOLIDATION OF KAILRoAp AN


COMPANIES.
The act Of the Pennsylvania legislature by
which the consolidation Of railroad and other
corpor atioDs for the purpose of forming monop-
olies was made illegal went into effect January
!, but In anticipation of its going into operation
number of leading coal companies have been
silently and expeditiously at work forming a
combination by which they may elude the de-
signs OF the lawmakers. The New York World
Gays:
1.-The wlkesbarre Coal and Iron Company
recently absorbed into itself the corporation
known as the honeysrook Coal Company at the
same time that the Central Railroad Company
OF New Jersey was making ARA lgements with
the Lehigh Coal and Navigation Company for
a union OF interests and responsibilities. These
combinations alone would make two powerful
corporations, bnt after the unions had been
made grander stroke of policy prompted the
further consolidation of the new companies
In this way vast monopoly has been created,
consisting of the Central railroad of New
Jersey and the Wilkesbarre, Lehigh, and
Honeybrook coal companies. The de-
tails have not as yet been fully completed
The name will probably be The Wilkesbarre
nd Lebigh Coal Company" and its president
SO far as appear ances indicate the choice, is to
be Charles Parish, now president of the W likes
barre Coal and Iron Company. The new cerpo-
ration will control extensive regions in the coal
FIELDS, besides having perfect system of canal
and railroad transportation direct between this
city and the coal districts, with present facili-
ties for yield OF 200 eco tons. The only COM
peting route from Pennsylvania to New York
and the east is by the Reading railroad to Penn
New York. Another means of communication
by which coal may be conveyed to the manu-
featuring districts of Massachusetts, and Con-
necticut will be the bridge at Poughkeepsie
when completed, but the newly organized com
pany profess to fear nothing from such rivals
and indulge in the apparently well founded
nope OF being able to control the coal markets
Of this continent 1t will carry at once more
coal than any other two companies. The east
ern agencies of the Wilkesbarre company are
located at present at Boston, Providence
Salem, Mystic, and one recently formed at New
Haven. These will continue to remain In ope-
ration as the stations of the new organizati
Arrangements have been made at No. 30 Broad
way, New York, where the Offices of the Lehsh
and Wukesbarre companies are now located,
for the proposed union uLder the direction of
William ii. Tillinghsst, treasurer of the Wilkes
barre company. The united capital which has
been placed into the new company is not known,
but will be very heavy. The capital of the
present Lehigh company is SIC, 900 900, and of
the Wilkesbarre company $4,000, 900. How
much the Central railroad was to furnish and
the part contributed to the pool by the Honey.
brook company does not transpire. The prime
movers in the transaction feel very joyful over
the successful issue OF their negotiations, and
express themselves very confidently as to their
ability to guide the vast power which the com
bination bestows upon them.