The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1874-01-05
The Coal Monopoly.
New YORK, Jan. 4

The consolidation of the Wilkesbarre
Honcybrook and Lehigh coal compane,
will probably be completed the presen,
month under the name of the Lehgh and
Wilkesbarre coal company. No final papers
have as yet been signed, but as the new
company is to be registered under the laws
of Pennsylvania meeting of the repre-.
sentatives of the companies is to he held in
that state during the coming week, when
the organization will be perfected and
ready for action.
THE NEGOTIATION.
The history of the movement is as fol-
lows Up TO within few weeks the
lloncybroOkc coal company was compar-
atively insignificant affar--mcrely name
for whatever interests the Central railroad
OF New Jersey possessed in the coal fields
The Lehigh coal and navigation company,
which has shipped extensively over the
railroad in order to balance It's transporta-
ton bills and secure the interests of its
stockholders, made an assignment of II
] i'i ~ u"'t W ldlu III tHt Codl ulSlIlClS 10
/ the Iloneybrook coal company, and of
course through ii to the railroad company,
raising the aggregate of land held ustensi-
bly, by the lloncybrookc company to G000
acres. The Lchigh company and the
| WilkcsbaTc companies have for years past
worked in harmony, having interests iden-
Teal in many respects. Their offices are
united at 80 Broadway, and their yards are
in several places held in common. The
new combination thus is really formed by
these three coal companies viz the Lee
high coal and navigation company, the
! Wilkcsbarre coal and iron company, and
the lloncybrookc coal company, represent
ing the Central railroad of New Jersey.
The area Of coal lands which this will
place under the control of the newly form
ed company is $1,000 acres capable of an
indefinite yield.
STANDING OF THE COMPANIES.
The relative strength of the larger coal
companies will now stand as follows:
Philadelphia and Reading Coal and Iron
Company, with 10000 acres to an annual
yield Of $500, 600 tons of coal. The new
Company will stand second, with its 81.
600 acres and yield of 1000 900 tons.
The Delaware and Hudson Canal. Company
bring out nearly 1000. 600 tons of Lacka-
wanna coal.
The superiority Of the Reading Company
in the amount Of acreage and yield will
not materially effect the new combination,
as the Reading Coal Company has its en-
trcpot at Philadelphia and thence by the
Delaware and Rartan Canal to this city.
With the close of canal navigation their
stock, of course, is shut ont of the metro
poltan market. This leaves the recent
combination as the leading company hay
ing constant communication between their
points OF production and this city The
only competitor route from PENNSYLVANIA
to this neighborhood is the Lchigh Valley
Railroad Company, running in direct
route from Boston to South Amboy. This
line, under the control of Asa Packer,
smaller dealers and companies along its
route. AS this is an independent line. it
may occasion some Inconvenience to any
would-be monopolies.
OPINION OF AN AGENT.
r. G.. Moulton, agent of the Lackawana
coal, does not think it could very strongly
a., 81, 4 Il
policy of all the managers is to start from
a minimum price in April or March and
then by gradual, steady advances raise the
price to a maximum in the late fall This
gives large manufacturers and other heavy
consumers Of coal an opportunity Of buy
ing at u low rate, the increase of price fall
ing chiefly upon the family trade in the
cities. a mutual understanding to this ct-
feet has existed between the Philadelphia
and Reading Coal and Iron Company, the
Delaware and Hudson Canal company, the
Lehigh Coal and Navigation company. the
Wilkesbarrc Coal and Iron company, and
the Delaware and Lacllawanna and West
ern railroad company, which furnishes the
Scranton coal. 1t was the futile attempt
of MIR. lIoyt, Of the Pennsylvania Coal com
pany, to underscl the combination during
the early part of the present winter that
led to the controversy between the COM
panics at that time. The new company is
but the Legitimate carrying out of the same
policy of cooperation, and what further
alliances may be in process Of negotiation
time alone can show, though it is whisper
ed that the changes will not stop with this
latest development, though it may be some
time before they are made public.