The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1876-08-31
[From tho New York Telegram, Tuesday c
THE GREAT COAL SALE.
Half q Million Tons Of Black Diamonds Dis
posed OLA Large Attendonco-Low Prices
but Spirited Bidding-Prospect Of Cheap
Fuel for the Coming Winter.

but Spirited Bidding-Prospect Of Cheap
Fuel for the Coming Winter.
The great auction sale of half million
tons of coal took place to-day in front of
the Office of John II. Draper &c Co.. Han
over square. The open space was tbronged
long before noon-thc hour appointed for
the tale-and people jostled and crushed
against each other in their eagcrness to pro.
cure places in close proximity to the auc-
tioncer. The sun beat down in all its
noon-day intensity, but still the prospec-
tive purchasers of black diamonds stood it
bravely.
Promptly at 10 o'clock Mr.. Draper
pushed through the crowd, and cheer
from party Of Wall street brokers gave
notice that the sale was about to begin.
Mr.. Draper, on re1ching the stand, said
'Now, gentlemen, if you will give me your
attention I'll tell you about this coal sale.
| Five hundred thousand tons are to be dis
posed Of, aud / will sell them on account
of the companies | shall name and in the
following order: First, the coal of the
Delaware and Hudson canal company !;
second, the Delaware, Iackawanna and
| Western railroad company and last, the
| Pennsylvania coal company. In answer to
certain reports which have appeared 10 the
press, | wish to Say that the sale will be
absolute to the highest bidder, and subject
lars which have been distributed among
YOU"
THE TIRoNG OF BUYERS.
By this time the throng had so increased
that fully 1,5Oo people were congregated
in the vicinity. Every available stoop and
window was occupied, and it was carly
evident that although low prices were
locke for the Client hts of n spirited COM
petition were present. Mr.. Draper, q
blonde gentleman, full of vivacity, glib Of
speech, and evidently possessed of an ample
share of that wit which is in great part the
capital of the auctioneer. then announced
that re was open for business.
"Flrst, | shall sell the coal Of the Della
ware and Hudson canal company, he said
land in the following lots, subject to the
following conditions: Steamer, 8 900
, CRATE, 40, 900; egg, %, 000; stove, 40 900
to be delivered free on board at Rondout
Fifty cents per ton, in city bankable funds
to be deposited on the day of sale as a Sc
J curity for the fulfillment of the contract by
the purchaser, and the balance to be paiC
: within ten days thereafter at the Office o
the company, when the order for the delv
cry of the coal will be given on their agen
at Rondout-the coal to he taken away
, during the month of September, 1876
Should the purchaser fail to take it ava,
/ within the month, the company may, a
their OF ton, at any time there after, discon
tinus further deliveries, and retain the aft,
r cents per ton deposited on the day of sale
\ or should the company elect SO TO do, the,
may resell the coal either at public sale o
| otherwise for account of such defaultin
5 purchaser, who shall pay to the compan,
4 any deficiency caused by the coal bein
: sold at q price less than that original
J. agreed to be paid.
I THE FIRST BID.
CHOW, then, for the steamer coal, 800
tons, or any part Of il in lots of 100 ton
b aud upwards, how much am l offered
A p0rtentous pause followed, and it SCENE
rs though no one had the courage to brea
y the silence, until from the outskirts of tn
= throng was heard 1.-TWO fifty" 1.-TWO fifty
Is five, sixtv.fiye, seventy fve-that's the wa
i to tall; it, hut it's dirt cheap. Tw
!. eighty, shall | have any more? Five, tw
u eighty-fve. eighty. How much
Z Only two hundred tons; two hundred tor
Z sold at two eighty-fve to Crook. Crool
Il you've got good thing" The ball bcin
now fairly OPENED the auctioncer bega
$ again, and in less time than it takes to tc
!, il the following lots were disposed of