Wilmington daily commercial., 1875-05-08
FIRST ED1TION.
PHILADELPHIA.
OUR sATuRp DAY LETTER

/
--rAMrfhISG WITH JunY--THEArRicAL
| CHANGE, &C., &c.
| Sl)eiial Correspondence Of The Commercial
PHILADELPHIA, May I.
We have been running over with news this
| week the time llas been too short for all we
had 10 read and think about and references must
necessarily bc brief hut in all the variety of in
terest 1t is doubtful II anything has taken a
more practical hold than the discussion on the
coal prospect. Finally, there are indications
of Is fuel famine. How can 1t
it he otlerWise whom not ton of coal is com
ing III and when til ere IL such constant de-
mand for that which il in store 1t il a
fact that there is very little coal in the city
and no immediate hops OF retlling Htock5 when
that little IL exhausted, as 1t must be before
many days In whole sections of the city the
yards are scraped clean. / was assured yestet-
day thar there WAS scarcely a ton OF coal in
West Philadelphia. Housekeepers III that Sec
tion are Offering $40 and sl2 a ton at the local
depots and cannot get 10. Dealers on the Della
ware side, who have a little left
sell III half-ton lots, 30 as to husband
their supply. In many cases, too, they refuse
to sell to any but regular customers. and they
are especially hard on customers of the Reading
Coal 20. The humorous yards OF that company
are entirely bare and the citizens who have been
buying their coal at one or another of those de-
pota find it almost impossible to get ali "inde-
pendent dealer to supply them, Il he knows
the facts. There are plenty OF well-todo folks
buying their coal by the bucketful of the huck-
sters. 1t is not ut all comfortable state of
things, either in itself or in anticipation.
"Well, said too bright clap to me, ''if the
worst comes to the worst there are gas stoves;
we'll burn gas. That is good deal like Marie
Antoinette's bread ys. cake notion
The feeling on the subject has been intensi-
fed by the investigation of tho affairs of the
Heading Coal and Iron Co., now in progress be-
fore Legislative Committee. The anger of the
retail dealers is easily understood after noting
the remarkable exhibit made at these meetings.
The address of Mr.. Silas w. Pettit detailing the
history of tLls monstrolls monopoly ought TO be
read hy every man and woman i'll the country.
1t is impossible to give all its points in the space
ut my disposal but IL IL enough to say that it
proves beyond possible dispute the lutent of the
Reading Co. To control-to own, rather-the
whole of the Anthracite Coal Trade. A more
lentless, more unscrupulous effort is not to be
found i'll the whole long history OF American
speculation. President Gowens throat to 81 get
ugly il the retailers did not give his company
their coal to sell, his underselllng the dealers ut
a loss for the purpose of driving them out of tho
business, and tile whole shameful array OF facts
are presented by MIR. Pcttit with force that is
unanswerabe. The testimony relative to de-
tcntiens short weight. &c., il overwhelming and
the entire investigation, which will be continued
next week, eXcites the greatest Interest.
The declaration by the Pennsylvania Railroad
Co. of a 4 per cent. semi-annual dividend, in
stead of one OF per cent.-the latter being the
figure for Il number oil years pRrt-occasioned
much commont, not unanimously favorable ex-
cept on the part of the coynpany's stauncb back
err, the newspapers. While it is true that Ill
times of depression there should be no lying es-
innate of profits aud that dividends should
rightly be cut dnwn in proportion to decrease iii
earnings, it il also true that such action should
be taken i'll an open and above board way.
Somebody ii always hurt i'll a game of this kind
and it is natural that the "hhorts should cry
out but slc considerations apart, it appears to
be clear that some favored persons were given
notice OF the proposed reduction in Pennsyl-
yania' in time 10 unoad, aud il ia even said by
those who ought to know that the company it,
self sold considerable stock at the current rate
just before making an announcement which 1t
lnew would send the security down two or three
dollars Il share. This III where the transaction
assumes its uncomfortable look.
A criminal case OF Importance has been the
preliminary hearing of two men named Rankin
and Throckmorton, charged With "tamperinB
with, or Illegally approaching, jury, In trial
recently hold in the Common Pleas Court. The
offence a one of the graVes Imaginable, for
upon the purity OF the jury our whole system oi
law depends. One OF the parties iii the suit Ill
question testified HAT Tirockmorton advised
hm to engage liani.iu's sersices that Rankin
would - fix The jury in behalf Of hls irregular
client. This fixing process has not yet beon di-
vn ,ed. The testimony WAS so strong that the
furnehing bsii and the other being committed
to jail in default.
The Gerjemaun case ha. been at last got iuto
Court, and attracts more attention than any tri-
nj other than for murder, that has been held
here N many years The whole Catholic ele-
ment Ii in a tuinnlt over it aud the Court House
preAente something Of the ntbuieut scene daily
behei at the famous hall of Justice III Brook
lyn. IL of course rempins III yanr recollection
tlat Gerdemanu Is the recalctrant priest who
il char ed with embezllins large sum OF mon
stated in the indictment rs SlSu,0uu, al
though popularity believed to be much greater
from st. Boniface's Catholic church, OF when
lie w,is pastor. Tie evidence ID oil very mixed
character and scarcely bears out the severe ut.
tacl- made upon the eX-priest at all points.
HIS bad business habits through which his az
fairs found to be in almost lneStricabie con-
| fusion, explains good deal OF the charge, and
the prejudice excited among Catholics by his
| abiuration of his faith aud his forsaking of cell
| bacy let's further light upon the prosecut.on
| nnt apart from this, much remains unexplained,
| and If the reverend gentleman is cleared 1t
will be one of the narowest escapes on record.
The failure OF Mr. Henry q. Norris the prom.
| nent iron founder caused shock IN u wide
| business circle. 1t was thought when first an
| nounced that the disaster was lrremediable, but
| il is now stated that arrangements nave peen
| made for suspension and that il is likely the
unfortunate contractor may be allowed to recov-
| er his position. The concern is one OF the larB-
| ebt OF the kind in the country. Mr.. Morris was
! n
! Co., and some years ago drawing his ihterest
| therefrom- amounting it il stated to nearly a
| million dollars-carried OH the same general
business at that other old Philadelphia establish
ment, "Merrick'a." His financial troubles are
| occasioned by the difficulties III Cuba, to which
country he had delivered great quantities of
sugar machinery, and for which he was poorly
paid, or not paid at all. Mr.. Morris has the sin
| cere sympathy of the business community.
The House of Correction investigation has
| not bettered the position of MIR. Franciscus and
| his associates particle. The troublesome Bar,
| low has made his charges good at all points, ana
the managers are, many of them, placed IN the
| very questionable position OF having purchased
supplies without calling publicly for proposals
| therefore, and furthermore of having bought
such supplies of themselves, the bills beng made
ont to Individual members of the firms with
| which they are connected. They claim to have
made no undue profits and that the city is not
the loser, but il so their offence, from high
| nolnt of view, is not the less.
| srhe deposltors in the defunct Franklin saw
ine Fund have had another disappointment.
meetipg was held this week at which It was iond-
IL hoped the administrators would be able to
declare considerable dividend. On the con
trnry. it was thought the best policy 10 deVote
fine resources of the company to ilhlshinS the
lmldmg Of humorous properties that had peen
commenced by Mr.. Cyrus Cadwsllader during Ills
nta1