The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-08-30
The Auction Sale OF Coal. !.

GOEISHlLllEytA AT AuSs SVs HV PAlSS9
realized by tho. auction sale Of coal 10
New York were apxiously looked for BY
all engaged in the coal trade; much sur.
prise and alarm was shown as prices were
bulletined; the general expectation being
that the sale would be adjourned Of So 90
per ton. As the lowest figures could not
Be obtained, the coal operators say that
the prices brought will compel them all
toslspend operation, unless the tolls and
labor can be reduced 10 much lower fig.
ures thanat present, with chances against
them, even OF great reductions, as the mi
ners will.hardly submit 10 lower prices
than now prevailing. The situation has
gloomy outlook for the fall and winter
trade. . ... ,..
NEW YORK, August 29.-The great
coal sale took place to-day at noon at
Hanover Square, which was completely
blocked with coal spectators. Buyers
from all parts Of the country were present
Intense excitement reigned in the neigh.
borhood and the wagons; trucks and wip.
dows were filed with spectators. While
the active buyers were congregated in the
dense mas around the auctioneers stand
the latter read $3 so at which over 15, 900
tons were sold, the remainder sold for
SS 20 to spectators who bought at the
rate Of 5000 tons bid. Twenty-Five thous-
and tons OF egg brought So % and So l24.
There was decided manifestation on the
part Of the buyers to wait untilso one
made purchases and then bear the price
down. Purchases were evidently uncer-
tain of how far the market might break
and many held back expecting that they
would get good bargains: In many cases
they were <successfnl'as the prices tumb.
led during the sales and then recovered
to beyond the starting point. AS the sup!
ply became exhausted 0,000 tons OF stove
started at s. so at which 10000 tons
went of, it then advanced at a jump TO
So 90 and was rapidly disposed Of. This
finished the Delaware & Hudson Canal
Companys stock. ~ g.
The next offering was 10000 tons Of
Delaware, YLackawana & Western coal,
known as Scranton coal; 10000 tons Of
steamer sold at 50 SIS down to S2 70; 3O,-
900 tons OF CRATE went at 81 IS TO 50 65;
$4,000 tons Of egg began at 81 so, went
down to So 70, and then up to 81 80; 40
900 tons OF stone started at s. 65, rapidly
declined to So IS, and then recovered to
So G2I; $1,000 tons Of chestnut went off at
s. 20 to 81 IS. OF 200 900 tons OF Phila-
delphia & Reading coal, rs, 600 tons only
were deliverable at Williamsburgh by
barge or boat, and the remainder went to
Port Richmond; $4,000 tons Of fuel were
put up, and 5000 tons OF egg went at
S. G7a; $4,000 tons same at 81 90; ad-
yanced TO So 62l; then declined toS2 so,
at which price the balance was bought
up, $4,000 tons of stove, commenced at
$3.50; went TO So 2ll and advanced 10
S3 %. 100000 chestnut sold 4or 50 20.
10000 tons steamboat, deliverable at
Port Richmond, sold at 81 55 to 81 90.
10,OOi tons broken started at'S2 10,
jumped to $2 70, and then to 81 S.; one
lucky speculator buying 5000 tons at
50 45. 5000. tons egg, same conditions,
were next offered, and 900 tons went at
50 80; the price fell to 81 25, and
finally 10 So O9i, at which price
the remainder, 5000 tons, was bought
up. Then $4,000 tons Of chestnut,
all Philadelphia &. Reading Railroad
Company; lot sold ut from 81 80 to 81 IS,
at'which balance was bought up. Next
lot consisted Of $4,000 tons, Pennsylva-
mia Coal Company; 10000 tons Of CRATE
sold at 50 G7i and s. 20; 5000 tons,
steamer, 81 72!; 1000 tons. egg, 81 IS and
closed at s. 90; 25,00O tons stone were
put up and 5000 tons bought at So so;
price fell quickly to s. 90, and the re-
mainder was disposed OF at that price:
at the last sale OF the day 5000 tons Of
chestnut) the bidding became brisk and
buyers anxious. The first sale was at
S3 42l and, the price quickly ran up to
$3.50, So 90, s. 20; the balance was dis
posed Of at. $500. This concluded the
sale. Prices tumbled from one to two
dollars per ton on all grades. 1t is said
that other gigantic coal sales will follow.