Delaware tribune. [volume] (Wilmington, Del.) 1867-1877, 1875-05-13
philadelphia.
us SATURDAY LErrsa.

A COAL FAAINE-THE LEdIsLATiyE INQUIRY INTo
THE READING COAL 60. "a MANAaEAIENT--PENNA.
RAILROAD PEE GENT. DlyIDEND--THk HOUSE
y OF coRRECTIoN-HEAvY BUSINESS FAILuRE--THE
FRANKLIN SAVING EUND--THE aGRDKMANN cAsE
--TAMPERrNa WITH JURy--THgATRIcAL
CHANGE &o., &c.
Special Correspondence Of the Commercial.
iH luN PnILADKIPHIA, May T.
We have been running over with news this
week tho time has been too short for all We
had 10 read and think about and references must
terest It il doubtful II anything has taken 4
more practical hold than the discussion oil the
coal prospect. Finally, there are Indications
of a. fuel famine. How can 1t
it he otherwise when not ton OF coal is COM
Ing in and when there il such constant de-
mand for that which il in store 1t is =
fss4 that there is very little coal in the city
and no immediate hope OF reiilling stocks when
that little is exhausted, as it must be before
many days In whole sections Of tho city the
yar's are scraped clean. 1 WAS assured yester-
day that there was scarcely ton OF coal in
West PhiladelphiA. Housekeepers in that sec.
ton are offering $40 and fl2 ton at the local
depots and cannot get it. Dealers on the Della
ware side, who have a little left,
prefer, where they sell at all, to
sell in half-ton lots, SO as to husband
their supply. In many cases, too, they refuse
70 sell to any but regular customers, and they
are especially hard on customers OF the Reading
Coal Go. The numerous yards OF that company
are entirely bare ana the citizens who have been
buying their coal at ono or another Of those de-
pots find it almost impossible to get an ''inde-
pendent" dealer TO supply them, II he knows
the facts. There are plenty Of well-to.do folks
buying their coal by the bucketful Of the huck-
sters. 1t is not at all comfortable state Of
things. either in itself or in anticipation.
swell" said a too bright chap to me, ''if the
worst comes to the worst there are gas stoves;
we'll burn gas That is good deal like Marie
Antoinettes bread vs. cake notion.
The feeling on the subject has been intensi-
fed by the investigation of the 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
tho remarkable exhibit made at these meetings.
The address OF Mr.. Silas W. Petit, detailing the
history Of this monstrous monopoly, ought 10 be
read by every man and woman in the country.
1t is impossible to give all its points in the space
At my disposal but il is enough to say that it
proves beyond possible dispute the intent of the
Reading Co. to control-to own, rather-the
whole OF the Anthracite Coal Trade. more re.
lentless, more unscrnpnlous, effort is not to be
found in the whole long history Of American
speculation. President Gowen's threat to 'get
ugly" il the retailers did not give his company
their coal to sell, his underselllng the dealers at
loss for the purpose of driving them out of the
are presented by Mr.. Petit with a force that is
unanswerable. The testimony relative to de-
tentions, short weight, &c., is overwhelming and
the entire investigation, which will be continued
next week, excites tile greatest interest.
The declaration by the Pennsylvania Rsilroad
Co. Of "A per cent. serni-annual dividend, in
stead Of one Of s per cent.--the latter being the
figure for number OF years past-occasioned
mnch comment, not unanimously favorable OK
eept on the part Of the company's staunch back
ers, the newspapers. While it is true that i'll
times OF depression there should be no lying es-
timate of profits, and that dividends should
rightly be cut down in proportion to decrease in
earnings, it is also true that such action should
he taken in an open aud above beard way.
Somebody is always hurt in game OF this kind
and 1t is natural that the "shorts" should cry
ont, but such considerations apart, it appears to
he clear that some favored persons were given
notice Of the proposed reduction in Pennsyl-
yanis" in time to unload, and it is 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 il
knew would send the security down two Or three
dollars share. This ID where the transaction
lsiig:.nos its uncomfortable look.
criminal case Of Importance has been the
preliminary hearing Of two men named Rankin
and Throckmorton, charged with ''tampering
with, or illegally approaching, a jury, In trial
recently held in the Common Pleas Court. The
offence is one OF the gra1est Imaginable fol
upon the purity Of tho jury our whole system o
law depends. One of the parties in the suit IL
question testified that Throckmorton advised
lin to engage Rankns services; that Ranlil
would " fix" the jury in behalf OF his irregua,
client. This fixing process has not yet been di
ynged. The testimony was 80 strong that Tho
parties charged were held in $1,000, one OF then
furnishing bail and the other being committed
to Jail in default.
The Gerdemann case has been at last got into
Court, and attracts more attention than any tri
III other than for murder, that has been helt
here in many years. The whole Catholic ele
ment is in q tumult over it and the Court Houst
presents something OF the turbulent scene dali,
beheld st the famous hall OF justice III Brook
lyn. 1t Of course remains in your recollection
that Gertemann is the reealctrant priest wht
is charged with embezzling large sum OF mon
ey-stated in the indictment as SlSO,0OO, al
though populsry believed to be much greater
from st. Boniface's Catholic church, of whicl
he WAS pastor. The evidence is Of a very mixe'
character and scarcely bears out the severe ut
iacks made upon the eN-priest at NIL points
His bad business habits, through which bis at
fairs are found to be IN almost inextricabe con
fusion, explains good deal of the charge, aht
the prejudice excited among Catholics by Iii
abjuration Of his faith and his forsaking OF Gel
bacy let's further light upon the prosecution
Bnt apart from this, much remains unexplained
aid Il the reverend gentleman is cleared
will be one OF the nsrowest escapes on record.
The failure OF Mr.. Henry Ct. Morris the prom
inent iron founder caused shock III wild
business circle. 1t was thought when first an
uounced that the disaster was irremediable, bu
it is now stated that arrangements have bee
made for suspension and that it If likely tn
unfortunate contractor may be allowed to recoN
or his position. The concern is one of the lart
est OF the kind in the country. Mr.. Morris wa
II member of the old firm of Morris, Tasker
Co., and some years ago drawing his lAtcres
therefrom-amouuting it js stated to nearly
million dolars-carfied on the same geners
business at that other old Philadelphia esrabsl
ment 'Merrick's." Ills financial troubles Al
occaslcned by the difficulties In Cuba TO whlo
country he had delivered great quantities {
sugar machinery, and for which he was poor
paid, or not paid at all. MIR. Morris has the sil
core sympathy of the business community.
The House of Correction investigation hi
not bettered the position of Mr.. Franciscus Al
lis associates a particle. The troublesome Ba
low has made his charges good at all points, AT
the managers are, many Of thein placed in IL
very questionable position of having purchast
supplies without calling publicly for propose
therefore, and furthermore of having bong
such supplies OF themselves, the bils being ma'
ont to individual members of the firms wi
which they are connected. They claim to la
made no undue profits, and that the city is II
the loser, bnt il SO their offence. from his
point OF view, is not the less.
fThe depositors in the defnnct Franklin Sa
ing Fund have had another disappointment.
meeting was held this week at which it twas fon
ly hoped the administrators would be able
declare considerable dividend. On the co
trAfy, IL WRb CuOukuN tue UeHJ puIlCy W ueNe
the resources Of the company to finishing t
building OF numerous properties that had be
commenced by Mr.. Cyrus Cadwallader during
startling financial career. This real estate
improved, and sold to advantage, the implicati
was that there might be something to return
people who had been cheated. But there VIZ
no promises made and only the most sangni
now expect anything.
An attempt has been made to sell the FORE
mansion At Broad and Master streets, at ~
Ion. The limit determined on, Sl10,0OO, v
no. reached, however, and the property
withdrawn. In an active state Of the mar
tLe tpore named would be cheap for there
ground fo,' half dozen splendid building 81
aud the house now upon it is one OF the flu
on the street. But everything is down. and
wonder is thst even tl0l, 900 was bid. The
rest bequest gradually assumes the proporti'
of = huge fzzle. II the Home is ever bn
there will be nothing for it to do-nothlng
least in proportion TO the outlay.
Have you noticed what q stride the lthi
taken among our Sunday papers Inc
patch still has the best editorial page among
Sunday press but in all other respects the
greatly leads all its cotemporaries These
psrs have, in fact, fallen far behind the I'll
and Colonel Fitzgerald in making varied
ample newspaper, attempts's 2 decided new DEL
ture The routine and family story business
the other papers grew very tiresome years
ard it is q wonder that no one Jumped IN J
since TO make Sunday newspaper. Ihe
day Presy gave promise OF it, indeed, but 30
how fell by the way Now the item seems
ly to succeed III it. , =.
An important change is announced to h
= L.. tFn M