New-York tribune., 1876-08-23
THE COAL TRADE UNBOUND.

The Board of Control OF tne hssoc"Vo" C""
Companies met yesterday afternoon at the Coa ana i
Exchange at Corandt and Churchsts 10 cohsiuer 'no
present position OF the combination the ia'ure 10 car,
ont liz objects and the best measures to take of 'e
frt1re Representatives Of several companies wcio
present as follows: Thomas Dickson freslueu' VI '''
Delaware and Hudson Canal Company; sainuei ''o"'
President of the Delaware Lackawahha anu "'''.
r iilroad Company John Taylor johnston rIcS"' -
the New-Jersey Central Railroad Company; Mr Parrish
~ rho o,..vb and Wilkesbarre Company; Mr. Hoyt OF
the Pennsylvania Company Franklin b. Gowan OF the
Philadelphia and Reading Railroad company anu ~
Pardce of the Lehigh Valley operators.
The meeting held with closed DOORS ana '"s''o
about 40 minutes, at the end OF which the ropresel
tves stated that the association had been dissolved Inc
ue,bcrs were reticcn as to the proceedings which lei
To this result but said that the debate had been calm ana
without heat They referred nqurers to the Secretary
for an official report Of tie proceedings That seh'ean
stated that the preamble and resolutions gwen oelo"
embraced all tn t was to be said on the subject Inc
resolutions were presented by Mr. Gowap ana seeohue"
hy Mr Hoyt, and read IA follows:
Wbcycos Prior 10 tho organization Of this Board OF
Control fer current year. committee Consisting y,
Thomas Dickson and f. Is Gowan n ~ osiation With
the subject OF tho continuance 3l thS Dlrnad
Asa Packer. President OF the Lehlgh NallcN tihioau
s ,hn organizatinn Of the associated coal com
panics was as important 10 the Interests OF 'e irg
Valley Railroad Comrany To those on any ohcr coh
w' nnI cynrcssrd a wish that the said association
shod be continued during tho year. ana fnrthtr prngen
mdraI oI op@rators Of the Lehh Valley region acting
through Mr. Pardee as their representative IN s' i o
~ ControI might desire in order 10 sustain sad Doaid
and carry out thc regulations provided the hgh Valley
Raroad ~ q transporter, was not obliged 10 oecohe III
active member OF the assoeiaion; aud ..,.,,oo,
Wbcrcas I'm consequence of The personal assurances
given by Asa Packcr TINS asscclliinn was , sl hv Mg
Paree as the representative OF the Lehg NaeS ieson'
During the month OF April last the quota OF
,bc Irri Valley region in excess over one bnhdca
thousand tons, and me rccS,ntE = 90 ,, for in
a tl.g
the articles Of the association and d., hc,, c I'm
of Mny last the following resolution was UNANIMOUSLY
ES,i That in Of the persistent refusal Of The ie
hsh Valley Coal company abide by the terms o The naru
Of con,Gi NJ & Hna % m o@to a tsS isa Vae5 regions
TO iit hc the ion TO The proper qaei on & sG
o aSd inai the Board OF Control aUourns sine die
Tncreas The adoption o the said resolution was post
poued AT the suggestion Of M-ssFs farlee ana sNoy,r,
representatiyes OF the Lchsh rtg'o ann M
uuiil the following morning was ha' q, WIZ, ] III. tat ~
sal gentlemen pledged themselves To inc p1 a. 'r r
The chccs, oi the TONNAGE over and above lhe !Fc
quota the Iehgh Valley interest ior tla month t -,
,ii n.rec ON hchalf of all the Lebgh Valley oicratorr
including the LeEigh Nacy In ,p",npS , ,rpv w "U, t6c
the action Of The Board OF S1hitol, anu ra, y far The
nroeraumc ol the Associated Coal companies ioi inc
Thr pcigc oi the representatives of the Lc.
NH region was considered sati factory by TIE Board of
"rip as shown by the following telegram sent b. Mr.
PaIdcc he day upon "' s, p'S MAJ e is7e
F. b Gcw,y Fresidea': .r,-....,,
have sen Judge Packer the agreement VIII be c11S1 G"t
CL,-,,, Notwithstandirc said agreement tIc l. ngh
v,iiey tcaion exceeded quota in the month oi June
> 900 t,u,. and whereas meeting Of the Board o
Control held July 81 20, at wIsn ine QUESTION & ~
Guessed iy Nrssr-. Paee aud Swoycr VINO repprt'u ,n
y,rv ars meeting of the tbsh valley operators nlu
uo,rG HAT the ieIsh valley operators suspend ship
mruts for weeks n the month oi AusSt, so As W
cquaze the tonnage o - proper amount, anu rSc % t
t.c excess thereby bad iu 1Ge h1u iuith @ Ia @ h '
would abide 10y 1hc ACTON o tue ioatu o. f'ro. @ %
ana reduce their shipments to the proper quota ioi %
remainder OF lnc year as ostablShe" ~ 'h' Dou Vi
WH,.ca Satwth.tanding the said lost agreement the
Lciga Valley region b. Ia excess "i Its io'1 Iur NV
month o July 81 l'l ton. anu "a. ~,
cut stne.s of the attempt oi many ui w oitI"'Sls 70
, reIc,d r., .u. colhorf in which the LchIgh valley
Railroad Company II Interested have brt III nm t''
'v"I that the quota wiz ~ cxor-s Tor the month Of
AUGUST, a. il was il June and Juy and . , ,..r....
uLsr.4s. The -cutatNcs 90 iLt LrAlE valley re
s!on ~ his board admit their inabyio pa" inc penalty
,,naid a for cxecss of ehipmcn ont any OF
c gmapfc,s or e,lgcs they have heretofore had IA
consequence OF the want OF cooperation Ct lh' An'hH
Vnilcy p,irnad Company and Asd Packer; therefore
kcsoiced Fhat this association Ice Dissolved ana that
'"o''"'" NV THOMAS DICKSON, President.
r1cso ,csolnfions were adopted uuauimou,ly, Mr..
porlrc of the Leh!Eh Company voting also Following
the resolutions tic announcement that the i"nF
strong companies, tue Delaware, Lak""dnhh ana "'''
/ en- the Delaware aud Hudson the fhiadclpH" ahu
/ Rcadag aud TIE Pcansylyania Companies had aHIaed
ia copuc and sell at public auction, on Aug %. 100000
toug Of coal ana the other two companies take the
consequences Tue eject OF the breaking OF the com
bin,,ion had been generally discounted ~ the lead
ing operators hu. thc street n large Thought that thee
might be a compromise, and az consequence consider
abie stock changed hands Delaware. Lacaawanna ana
western ming = per cent and New jersey Central
| uer cent The market acrward recovered and Deia
ware Lackawanna aud western recovered ts loss, aud
| NeW-J,,,ey Central reacted y per cent,
COMMENTS UroN THE DISRUPTION.
After the escvcraTeprcsentavc7 had returned to their
respective ocre TEInuSE reporter sought them Tor
detailed statement of the proceedings Asa Packer the
chief Of the principal company Offending was not In
! town Mr. ParGoe Who represented him, said that he
had no story to tell beyond the fact that the combination
/ had . zone np" Further than hdt ne would not say.
sfr Sloan OF the Delaware, laclawannd and Western
! Company ,ad that the ,ehigh Valley Company was
primarily responsible for tI ilsrupon Of the oombna
ton II had eyado1 it, Obligation and when called upon
to lay The penalty refused, and so,ht 10 emporilc
The four sron5 companies had combined ami would sell
| 100000 toDs OF coal at auction on Au-. 20.
Tbonlas Dickson President of the Delaware and Had.
son Canal Company and of the Board of Control Of the
,ssoc,tee ecoaI Companies taid that the combination
had been dissolved because Of the bad faith Of the Lcgh
Valley Company. That company had entered
| the combination aud had repeatedly violated
its pledge, both in the matter OF price aud pro-
ction Mr. Packer. the President of the company had
named Mr Pardee his representative and had agreed
to abide by HE pledge. when the compact violated
Mr Packer ad that his company wac not cs0nsbie as
| Z, couid NOT control the operators who owned
| the coal lands and shipped over hs rail
roa1 Mr. Dickson here explained that the
| othpr companies owned their own coal lands,
while ,unc of the land along the ehgh Valley Railroad
wa Owned by other persons. The Lehigh Valley Com
uany however, gone far in advance Of its quota
| that II was finally decided 10 dissolve the combination.
| ti,a ufipu baN lac