New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-01-08
A COAL TRADE kEAG UE

THE COMPANIES COMBINING TO CONTROL THE PRICE
ALLEGED INCREASED EXPENSE OF MINING
PROPOSED COAL Neutrality-suspicious. COAL
ASSERTED TO BE BECOMING SCARCE.
The representatives of the anthracite coal
companies held a meeting yesterday morning, in the
Office OF the Delaware and Hudson Company, at No. II
Broadway discuss the expediency and possible effect
of combination to control the price OF coal The FOL
lowing companies represented NJ the meeting Inc
Reading, Delaware and Hudson; Delaware, Laekawanna
and Western the wilkesbarre Coal and Iron Company
Pennsylvania Coal Company Lehigh Coal Exchange
and the Central Railroad of NewJersey, which practi
cay represents the Lehgh, HOneybooke and wilkes
barre consolidated companies Among the large capt
tasts present MI Dickson President OF the Della
ware and Hudson MI GOwan Of the Reading; Charles
Parrish OF Wkesbarre John Taylor johnson OF the
Central Railroad OF New jersey and Judge Asa Packer
Of Pennsylvania who represents, as legal ADVISER sew
eral Of the largest coal mining companies in that state
The meeting private, but from statements OF the
gentlemen present learned that the proceedings
entirely informal and the discussion was mainly
confined 10 the subject Of tonnage. There was no decis
ion in regard that subject; and the more vital ques
tons of wages strikes and the prices Of coal which is
understood the representatives intended TO decide were
not touched at all. The meeting was 20 informal, not
withstandng the interests involved that there was no
hartman OF secretary formal statements ana even
no certain decision at Adjournment rs TO the next
meeting although il s believed another Will be held to-
day.
INQUIRIES among prominent dealers in coal ELECTED
great deal OF general information relative 10 the pur
poses to be achieved by the combination, but nothng
definite AZ TO the character Of the discussion In regard
general purposes several dealers sad thaI the
combination. which very unnecessarily IenGers eoa
consumers suspicious and uneasy Is merely protective
scheme to secure the members against variety OF evis
lt,b aesailQl them OF their
want OF unity and system in the transaction OF business
One of the greatest mercantile interests OF the country
the coal business has been conducted since its inception
without Exchange. Dealers in produce Cotton DRY
goods stocks and gold, ali have ther Exchanges WLee
arbitration can IN moment settle the many DIVISIONS
and disagreements that must always arise
between 1.-TWO Of a trade" The coal inter
ests on the other hand, have always been
conflicting and underbddng another and have con
seauently paid n smaller percentage on the eaptai
invested than other great interest IN the country
An exchange would obyiatc the necessities which Ire
quentiy occur OF knocking on" percentage or me
price OF coal on the mere statemento puyGf
That II was OF short weight or OF an neiIol quaIS' ~
would standard price on which consumers auu
producers could confidently make their calculations ior
a year ahead 1t would we'd an influence oeSnst the
sudden and disastrous strikes when 80 snect price,
and woud generally become source OF benent 70 poln
producer and consumer The combination coneinpatsu
"A unity of system somewhat similar u that u .f1de
exchange, and was not invested WIN any more 'eirpie
significance than That 10 the consumers.
Samuel Bonnel, r., director OF lne piG1cteu eoL-
eOldatiOn. 10 be called the 'lfngh ana Nlkernaffe
Company" said that there were natufa causes Ior IN
price OF anthracite coal which the people
did not comprehend few years ago ms coal could
De carted out OF the c0a mines WIN Mule iaroau
al 81 a ton, but IL has Ueen mined 20 rapidly and con
stanty since that shafts 500 and 400 feet deep are now
required 10 reach it, ana expensive breakers are needed
at head OF each sha for the purposes OF ascent and
descent ana yeGaon 1 n, year o tfI ' Of e
Iniue, more difficult to NINE, and moreover
much scarcer the prioe o. pay y, s ana
adjoining coal fields becomes greater ana labor has
increased price 10 snch an extent that tne ordinary
labor which cost 80 ma 20 cents a uIy men hoM
averages Il 20; ana skilled ahOrers instead OF 81, now
obtain and a day the consumer requires ms coal
broken into small bis at the mines because he wli
it IN The large Jumps AZ when u y mIned an1
this work adds greatly to the cost The proposed
coordination Is necessary 10 secure 10 Geaefs ahu inc
companies the reasonable profit which AL businesses re-
quiTe for profits nave been ritiereu away greatly mere
tofore by the diversity Of interests among inc com
panes. The ohec mentioned are the sole cause OF inc
proposed combination.
Mr. Quiutard. OF the Philadelphia and Reading Coai
and lion Company, SAID that the combination would Lot
be likely to materially advance prices. They aimod
chiefly 10 secure a =, gidn stIndaIa " pleeS on "ea
an COLO gge q e 10 d 5nSyr 10 inhce
To- buy coa when they had ht:ie need OF ~
q nd The price was steadily advanced every month
Stardetiil AGAIN nntil March. THIS nad the ems
tonary proceeding, but now the difficulties Of mlhhs'
tne growing scarcity OF arithmetic coal, and the col
ficts among coal companies required "a more certain
and uniform system The combination Toaiu , nDd De
uld not feel any material effect from lts organization
Anthracite coal he continued was pecohhp 80 scarS.
u
Ice unknown and be thought that q movement toward
the use OF btumiuous coke by families wonld becoine
very general shortly II was as clean aud Tree RON
dust rs anthracite. ought 20 be much cheaper.
Mr. Belkuap. connect6 with the firm oil LlpueTman q
Co dealers IL high coal, sad the tasis VI wages had
been liked ia the LeIsh on AZ the same f&..s az last
year and the necessary agreements TO That e1set had
been slSueG oy the men
THE GUEsuoN IN fENNsYIYANlA'
poTTsyIlLF, Penn, Jan. THE meeting
here Tomorrow M noon between the delegates oil the
onerators and miners in the schuylb region, 10 TX the
basis OF wages Tor the year 1874 promises 10 he harno
NOUS on ing cOncIatory tone OF the meeting OF
Operators IN NewYork to-day. Franklin b. 6owen,
President OF the Reading Coai ana Iron Company the
largest owners ana esees Of mines nSohuyidl a. Won
as of the Philadelphia ana Reading Railroad Company
arrived here tonight AID VIII doubtless ne the leading
spirit IN the meeting HIS view represent
ing the OPERATORS thought to be that there Should DC
10 per cent reduction the contract price o mining COAL
n ms should he insisted general strike VIII occul
ON. the part OF tic miners. ii 10 desired that
tho urice ar Of the Beading Company shond DC the
criterion for prices which wages are based ana hot
tie prices furnished 10y individual operators lhis III
understood from private sources VIII not De PeIeup
toriiy INSISTED on By the men. The genera, impression
Is Thar rnlgal concessions viii DC made aLG last yeaI
programme adhered 10 ior 1914.