The New York herald., 1876-09-21
GREAT COAL SALE.
The Pennsylvania Coal Company's
Remarkable Auction
PRICES ADVANCED ON SPEClALTIES
General Dissatisfaction Among
the Bidders.

Tho announcement that the Pennsylvania Coal Com.
pany would yesterday sell, through John H. Draper
Co. auctoneerS at the Exchange Salesrooms, 100000
tons OF Pittston COAL drew the basement 200
dealers At eleven O'Clock A. N. Mr.. Draper. with q
smile, mounted the platform and announced the con.
ditions Of SALE given elsewhere. He was accompanied
by small brigade OF clerks and George A. Hoyt Wee
President OF the company. Tho other gentleman ire
ouently interrupted Mr.. Draper and ordered him u
knock parcels down tho figures bid; while others
were ready advance the prices About lO0 600 tons
were sold, II is believed; one OF tho principal
and heaviest buyers being dsaer VINO was raised 10
tho Office OF tho Pennsylvania Coal Company when
Honest Mayor Havemeyer was at It's head, and whose
bids wero with aacrity Tho gale yesterday
would indicate slight advance In all lines OF
coal except chestnut, which Is the chief retail csm-
modify oil the company. The Impression seems to DO
general among trade that tho company in yester-
days sale wore anxious to advance tho Wholesale
prices and depress speciatics In which they have
a monopoly Of the retail business
The company stipulated that tho sao would be posi-
tive 10 the highest bidder OF every lot put up, and no
bids would be made, directly indirectly, account
OF the company. Fifty cents per ton In bankablo
funds deposited the day Of sale and the balance
to be paid within days II was stipulated that tho
coal should be removed tho company's
docks At Newburg during the month OF Octo-
bor and If purchasers failed to so remove
IL tho company would reserve tho right, at
their option at any tune thereafter to discontinue
the deliveries tho fifty cents per ton deposit
on all remaining undevered or resell tho lots ON ac-
count Of tho deau,ng purchaser, who shall reimburse
,ha company any loss by reason of such default
Tho tenth section of tho terms of tho sao leaves tho
company loophole through which to escape suits for
damages II they lail to deliver any lots sold II reads
as ioiows:-
fiat any time Of the company is SO inter-
tnraout Or strikes among miners or other epoyss evsd
by reduction OF wages made by sad company,
materially decrease the quantity Of coal when
the company would otherwise have been able to
deliverable, company will not hold itself liable
delivery 81 the coal now sold any portion thereof
athoaeh portion of tho coal that Is received curing SAID
and business be disposed OF otherwise than IN the uh
psny in case the coa now sold delivered
rata n .%p"s % ss Of a" coal
from oil the causes named in his section the money
Raad RI"ndeS 9" account d ''A A'' ''''''N w." '''
Promptly at eleven o'clock Mr. Draper announced
the above conditions OF SALE When he had nnsned
reading them person in the audience exclaimed,
swcr. Hero Vice President Hoyt announced that the
would be 55 900 vi lump Steamer or grato
as the buyers might eject TO take Buding Was very
SPIRITED beginning at s. so per Ton and gradually ad
vancng cents per ton until So W was reached
DraperS hand IelL Among Tue Ouyefs
A. d. smith. Havomeyer Brothers,
Bailey, Winchc, McEwen, Story Brothers.
.sswords," Chaue, wnchcll e. Hahn, WATERBURY,
Bemis 4 Phillips, Whytc l. Son and e. L. Bingham.
These gentlemen seemed TO take the lead IN
ddiug The salo occupied less than an hour, and at
It's conclusion Of tho press applied TO
Mr. Hoyt Tor information us to tho tonnage sold he
gru1iy replied that the press could have nothing, as
his company the prev sale had been badly mis-.
roprcsented. When politely informed that IL was 10
prevent misrepresentation oil the company that tho
press asked for transcripts OF tho sale BOOKS he de-
clarcd they would be supplied
As the sale progressed the amounts and prices were
checked OIL, aud, can be nscertained, The
sales were AS foows:-
STEAMER Coal, 2, 800 tons-500 toas at So 02n per
ton: 800 tons at $3 per $50 at - 97ts per
ton sou al 81 w per ton 250 tons At 81 " pei
ton.
LUMP Coal T. 500 tons-1 00o tons at 81 9j per toni
5000 81 80 per tom 800 tons ut 81 % per tom
500 tons ut $2 30 per ton.
CRArE Coal $4,000 tons. H. 600 tons at SO O2ts per
ton; 750 tous So per tom go tons ut 81 91la per
ton 20 per tom TO- 5OJ tons at )! 30 per
ton; 81, $50 tons ut 81 ~ "a per ton
EGG CoAL-6,000 tons, ut So l2sa.
SrovE Coal, 20, 200 tons.-5,1O0 tons ut So 10 per
ton; l.Ooo tons at $3 721s per ton; $500 ut
SIS is per ton; 1900 tons at So 80 per ton.
CHESTNUT CoAI, III, 000 tons.-3,OU0 tons at 50 %
per ton; 1000 at So rs per ton; 5000 tons ut
So 20 per ton.
A COMPARISON PRIZES,
At the great coal salc on tho 2sth OF August tho
Pennsylvania Coal Company sold over 80, OUO Of
coal at good prices Below Is a comparative statement
of the prices realized yesterday against those OF tho
10Th o August Tho highest ngure IN each designation
Is glvcn:-