New-York tribune., 1875-02-22
COAL PRICES FOR THIS YEAR.


THE ARRANGEMENTS OF THE ASSOCIATED COAL
COMPANIES FOR THE sEAsoN--RATEs CUT DOWN
LITTLE.
A new programme has been arranged by the
coal companies the 1878 and has been
accepted by FIVE at least OF the SIX Transporting hnes
The Pennsy yania Coal Company 10 the general
plan laid down by the other corporations during the
shipping season. but 1t is not formal party TO tho ar
rangemeDt. The schedule now fixed upon reduces the
price OF coal 25 cents per ton below the rates of last
year. The rules laid down by the combination, which
are Of general interest, are as follows:
Tonnage to competitive points for ten months from
Feb 20 Nov So 1876 Inclusive to be 600 tons and
TO he dissrbut among the elk Interests IN the Same
proportion that adopted in February, 1879 for the
That standing committee OF SIX. composed Of one
representative OF each Interest," DO appointed for the
to meet mOuthy, or ofteer at the can OF the
tive TO tonnage TO com peutive points, and TO have
power. frcm time TO time, TO permit an increase OF Io
With a view OF regulating the relative demand and snp-
ply provided that increase or dminuton OF ship
ents be based upon the percentage OF above
mentIonel that each interest shall be entitled to its
proper proportion OF the aggregate competitive tonnage
Ttis recommended tina, prices shall open In March,
1876 OF l5 cents ton above the opening
prlces aud thereafter advance as folows say III
April, Ave cents; May 10 cents; June, 10 cents anu
July, August September, October, aud November each
Is cents and that season prices be established 80 AS
TO DC more than 80 cents below the average o Tue
No commission whatever to be allowed upon coal sold
at yearly prices contracts az yearly prices to DO
made with any one but consumers and retailers; and
then ony upon the condition that all careoes OF coal 80
sold shall received the purchaser aud taken upon
the wharf and not sold or transferred aaoa No sizes
IL be sold at yearly OF season prices except lump,
steamboat, broken, egg, ana CHESTNUT ana egg only 10
~ he allowed 70 any party buying at monthly circular
prices and then only to such as purchase at least 2Oo
An coal solo at yearly or prices to he sold by
written contracts deliverable In equal monthly propcE
mons beginning either the 1s OF March OF lst OF
April aud ending at time aztec the lst OF November
any failure take all or any of Que monins propor
tion to forfeiture pro 1do 0f eaeA Succeeding
Ali deiv9ries Of coal upon monthly allotments. at
monthly circular prices, to be CHARGED at me circular
price current in tine month IN which the delivery Is
,de, and under no circumstances Whatever snall coal
delivered in one month DO charged at the circular price
OF any preceding month unless the purchaser had
at the shipping port ready to receive such coal
before paton VI the month IN which the delivery
WAS 70 be made.
THE TRO-CONvFRTIBLE BOND SCHEME.
IT'S RIAL AUTHOR NOT THE HON. W. d. KELLEY-ED-
WARD KELLoGG's PLAN FOR NATIONAL CUR
REyCY AND HIS ATTEMPTS TO SECURE ITS
ADOPTION
lFRoM THE REGULAR CORRESPONDENT OF THE TRIBUNE
PHILADELPHIA, Feb 20-PrObably nine
tenhs readers suppose Judge Kelley to be
the author Of the introconverOle bond scheme which
he has long advocated In Congress with much persist
and which had great fascination for the mind OF
the average Congressional hoancicr Others attributed 1t
TO Henry Carey, the well-kDown Philadelphia political
economist and still others remember that Horace Gree
ley discovered TIE TRIBUNE several years before
his DEATH or call to mud the fact that at time when
the honor OF its invention thought worth contend
ing for daily commercial newspaper IN New York
boldly claimed the authorship and was supposed TO
have established its claim. Taking up to-day a.book
Just published by Henry Carey Biird, Of this city,
titled, "A New Monetary System The Only Means OF
Securing the Respective Rights OF Labor and Property
nd nf Rev
sions" by Edward Kellogg found that the project
supposed by modern statesmen TO have potent power
TO all financial evils not discovered by him,
but he appears TO be fairly entitled to what merit there
may be IN conceiyng OF paper currency furnished by
the Government and redeemable only In n bond bearing
low of interest Mr. Kellogg died in 1885, and tho
present work ia a revision Of O book on Labor and
Capital published during his lifetime It is edited by
his daughter, Mary Kellogg Putnam OF Elizabeth N. j.;
who contributes biographical sketch FROM this
sketch 1t appears that Mr. Kellogg wrested long with
the problem OF paper currency cut loose from gold
and silver He at last hit upon the Government treasury
note called by him safety note" the kind o;
needed, but what 20 redeem question
He thought upon it at night and day, arc od for
three years, until night the Spring .ls3 az no
spraton: Redeem IL with bond DeIring interest"
He wrote article elaboran0 this idei read IL IN
Horace Greeley, printed 1t In broadside sne.t. aud
aferward published II In condensed form In three col
umDs OF THE TRIBUNE. His scueme cOntJiDOd the two
essential features hc S6J bond PLAN namely a legal
tender note convertible into low nterestbearng bond
the bond being PAYABLE only IN tue same notes. Tne
he modern nirocOnyerble bond advocates started
with the proposition pay interest as well as principal
In paper, they have iaely away Nv The
current OF opinion that Is setting strongly toward
nrst principles. aud acerptod gold interest as
al feature Of their Dian. It Is curious TO
Ills theory aud VI has repeated failures lie wrote