The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-08-26
THE COAL COMBINATION.

GACIIEMENT IN TIKI PHILADELPHIA STOCK
MARKET-pEcrDED ADVANCE IN READING
srocK-PRosPEcr OF INcnEAsED SALES OF
COAL AT SATISFACTORY PRICES.
PHILADELPHIA, August 25, 1875.
The disruption OF the Goa. combination has had
powerful influence upon the stock market OF this city
within the past wentyfour hours 1t is said that for
the past two days the firm OF CAV McAllister Co.,
acting on behalf OF Mr.. McComant, OF England, have
been buying argely OF Rcadngin fact all tho stock
that has been offered in this market In all
about 10000 shares This transaction has eornered
tho shorts they have been constrained TO into
the Board and buy at the advanced figures The
element on tho street and IN tho Board eScecd any
thing that has previously occurred Every one who
had any interest in stocks gathered at tho Board to
increase their margins aud thus themselves from
financial ruin.
The advance of Reading will strengthen prices and
restore confidence to market that has been sluggish
for months. Out Of All apparent evil will onIImes
spring good, and In this case tho maxim has proved
opposite. The revolution In the coal combination,
II was supposed, would paralyze the market, but
fortunately the vast and enterprise Of prn-
cipal owners OF Reading brought 10 the 'front.' and
an advancing in place OF declining market has been
the result.
Franklin B. Gowen, President of tho Reading, says
that tho DISCRIMINATION OF the coal combination will
prove decided benefit to his company, and that they
will sell more coal than has bean sold Tor months past
and at prices that will be satisfactory to the public
THE SITUATION IN THE MINING DISTRICT.
PirrsroS, Pa, August 25, 1876.
The excitement in this locality caused by the disrup.
ton Of the coal combination has settled down and
moro buOyant feeling exists among all classes. Tho
percmptory order issued by the Pennsylvania Coal
Company Monday night stopping all work in their
Mines followed last evening by another ordering
the miners in again. and this morning all hands went
TO work. or course this movement pleased the NOR
chants very much, well rs the miners,
and tho Pennsylvania Coal Company is tho
manstay Of this locality there fears
regarding any bad results in the immediate
future. An interview with some OF the leading
officials this afternoon, revealed the fact that steady
work Is looked for in tho mines Of tho Pennsylvania
Company. for two or three months at least Tho COIN
pany ship sail It's coal its road to Hawlcy, in
this State where 1t Is transferred branch OF tho
Erie road.
There fears existing early this week that
the competing lines would combine, and settle
tain high for transportation, in which great
disaster anticipated but has been fully demon
stratei that such thing will happen and that the
roads viii compete fairly for the coal tonnage.
sTRiSE pTrsroN MINES.
little furry was caused here yesterday by n turnout
o. the miners employed By the Pitston Coal Company.
1t Is the rule to dock miners so much for ROCK slate
and other refuse accumuiations which come up with
the coal from tho mines below, as they paid so
mucn a ton Tor mining Usually miner scnGs up
2, 700 pounds Tor ton, the company calculating that
100 pounds will be thrown while passing through
the breaker and screens. The PttstOn Coal Company
issued orders to the dockagc and to do this
miners were yesterday locked IRON 100 TO 1000
pounds the cards which they have heretofore re-
ceved 800 to j, 500 for This caused strike,
and the men are still OUT.
VIGOROUS WORK To BE COMMENCED BY THE WILKES
BARRE COMPANY.
Mr. Parrish, President OF the Lehgb aud Wilkosharre
Coal and Iron Company, informed your correspondent
to-day by the 10th OF september company will
be 800 0O0 short OF the spending thpments
up that time last year. Hc said that his company
would ready next week to ship 20 900 per day
and n,maed that this amount would probably be
shipped their mines after next Tuesday Tor three
months to come Mr.. Parrish was confident that tho
Lehigh and Wilkesbarre Coal Company could furnish
as good quality of coal and cheap, any other
company, and he said they intended to do IT, He
stated that labor would he somewhat reduced, but
those who employed would have steady work
some time 10 come.
VIEWS OF INDIVIDUAL OPERATORS.
The individual operators are terribly out of sorts
almost every OF their mines closed today-and the
representative men are quite gloomy in ,her prophe
cies concerning the future Many Imagine that q
general strike among the miners Viii ensue II any at
tempt IL made to cut down wages II is calculated
that in the Wyoming region Alone embracing but
few miles OF territory, over 1000 900 OF capital are
invested by individual operators, most OF which is
lying idle. Tho wiscst among the operators hero
the first will be formed In lew weeks Thcy claim
mental 10 the best interests OF the companies and tho