New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-08-31
THE COAL COMPANIES SACRIFICE.


IN REGARD TO THE PENNSYLVANIA COAL COM
PANYs SALE.
The different coal companies interested IN
the auction sales Of Tuesday busy engaged yeser
day in closing their contracts with the numerous pur-
chasers and arranging for the delivery OF the coal during
the coming month without exception, the representa-
tves OF the companies said the coal would he deVered
during the coming month. Some OF them COMPLAINED
however, that they should agree to deliver all that IL
was claimed mad been bought at the auction sale, they
would be compelled to deliver Mt least twice the
quantity sold There was continued denahu
throughout the day at the offices OF the uDer-
ent companies for moro coal at the auction
figures. Late in the afternoon it was claimed by the
companies that they had made no new saes that ther
fine had been fully occupied In closing the business OF
the previous day besides which, In the unsettled eond
ton OF the market they did not wish TO MAKE any ne"
contracts There rTnor current IN the AFTERNOON
that considerable quantity OF coal mad peen SOFA DS
middle men and others ut advance OF 90 cents 10 T
above the auction figures With the exception however,
NJ few sales made 10 old GUS TONER'S who claimed to be
out of coal and willing to walt another day. ana
which were made on private TERMS the ruHor was not
confirmed.
During the afternoon the Pennsylvania Coal Company
adopted the following figures for Pttston coal delivered
at Newburgh Lump, - TO- steamboat, 80 10; grate'
50 35; egg 50 IS stove, 81 chestnut, 3d. To these
prces s. cents must be added If delivered at Ncw-iof
II was stated at the office OF the company that these
were the prices the day hut In the very unsettled
condition of the market they were liable 70 ne chahgeu
NJ any time At The offices Of the Philadelphia ana
Beading Coal and Iron Company and the Delaware
and Hudson Canal Company, the statement was
made that a schedule OF prices would not
he ready until to-day 1t Is understood however, that
this schedule viii probably not dhor materially from
the following Lump, 80 % steamboat - 20 Ssate
50 50; egg 50 So stove, 81 10; chestnut % 10 lHe
prices arranged by combination carly In the year Tor
4
81 So; crate - 60; chestnut, - 3D. Samuel sio'n'
President Of the Delaware, Lackawanna and western
Company said schedule OF prices would be nlde Ut
present by his company. ~ II was inc IN
ten;un to continue the system OF SELLING tS coal al
1ucticn-a system abandoned b. tho company al ABOUT
the time the combination was made He Thought great
mistake was made 10y throwing such large quantity OF
coal ON the rket ut time sold on Tuesday,
but this he said would not be repeated Hereafter 'he
company woud sell such quantities OF coal rs cifcu'
s,nnccs mi-it determine and without any combination
with other companies.
Nothing Was doing at The Office Of the LeE 20 'aley
Company Yesterday The officers and directors were
aoldir meeting 1T Bethlehem, PENN during The day
At that meetu stated at the Office the future
action Of company To b. determined ana toGy
the September schedule VIII be made known Tie prices
Will il Is thor Int, be decidedly affected b. yesterday
sale.
sever, nr,a,e con forcnce were held during the day
ono of these yS meeting 81 the Northern Anthracite
Goa! Association. which WAS held IN the once oi to
Delaware and Hudson Canal Company. IN the Coal ana
Iron Exchange, C0ranis The chalr was o'cup'eu
By JOSEPH j. Albright Of Scranton, the western AGENT oi
The Delaware aud Hudson Canal Company, but ater
season q nearly Two hoar, the meeting adjourned uh
to-day without having reached any definite conclusion
upon the price, adopted 'or coal going North ana
Sprth.we,i from the anlh.ecite mines
Tie great reduction in the Wholesale prices ut Tues
davis sales hal marked eject yesterday uTon the re-
dol ~ Jnef
their rates 20 10 % per and others OF thols agree
ing 10 deliver coal the next three months no the !a'es
at present demanded. As rule, however dealers we're
di,posd Ia wait until the pIescLt unsettled condition Oh
the market should sUDsic sOnieT LIT btioh MaAhS nc"
schedules
oxr coMrA~Y's GOOD FAITH QUESTIONED
r.rortcT 81 TuE THuNE spoke To the treasurer OF
tie pcunsyvluil Coal Company n regard 10 th' charge
which had been made that that company sale was
"do,torci" and the coal hJuSt m IA he interest OF
the company Kc'cr"n"" was made to the statement
that hat been repeated upon tno street that MI ii"yt
y,rlI times during tie sale had called out to pcrsor
with whom he was known Ia DC personally Intimate:
BUY II all in Swords; bug "a AL he rcst" The follow
ing statement was mado IN reply to tho Inference drawn
FROM this:
5- swords vas formerly employed in ;he on,c ~ his
Inc coal business 10, himself H. Fas often bought larss
quanl!. Of cal o., vi , SS ~ r iHI nd f, r"
cradle lrtrrret IN Inn aud very nniut.y h' Wouh LLr
] ~ o.
j and 30 Il, il ro,s;be that be d.d use the rS
ur..nu alleged hut that any dishonest or iti'Eiih
h"rr'' ., @ Il .u,ii5a YES r,ly by tho POM
,yle.un Company Wa offered ana sold I'D to'd tu T.
4 iuog,AtU ~ rcnohic man need not go I5r iot eNi
a.rcr oi t II l. shown In The prices received II tuc'e
cgGitlnirs had really allowed any p,bddng ~ all or
no., o. H. brouahr hut Womb have nm tup to
tln, Ike payine gtirc. Bat st1to 0J the case ~
! phnp!y th, numb Of tue prDoipa cooi conplul,s
f,rI ans co. b.ur,ion that thcy might know exactly
what 10 de- end upou from each other, ana tht the nir
ket mghr BE- definite ana steady WIN sch ah U.rah.t-
mcnt sily earned ont n would hr lmp"s'i9is Ior
The prices 10 r-r unreasonable figure. ANA DON
! prodUce.a and consumers would nave btn pfoM,t'a.
But some Of he weaker sellers Dean 90 o'i ,u uu oi
10 cents below schedule prices ana, u eo'hSe,
obtained all tie trade and The communion was 81
result strong comuan,s ielt that they must as
pose OF lrSg lHn,y ., E SH " ~ ton w"rE So
The sale TOOK place We disappointed, II Is true III
lie pes received, and u viii be loss Ia n5, but that
IIlInake no difference In our mctol OF procedure We
shall continue 10 mine coal and II II aceumualrS
even AT exp n the present low prices continue,
the wages OF the miners must he decreased, and the
then, ~ all events coal w'l come up Ana now tn.t
there no combination TO regulate H. there nothing TO
prevent the price rising to 80 sun DO not anticipate
y ohcr nryate indiyidna and actually OF another
company. shall walt some Time before pur-
G a5irs than l'' hat for which it now reals
Ut me add one iaci however. II companies Obliged
To mine and bring into market coal ut less than cost 1t
the same ms they Otherwise would 6nd candidy,
present State Of Things continues, doubt very much
whether CONSUMERS viii get much FOR their money IN
good c0a, as they would were the combination prices
cung to- Companies cannot be expected To lose money
I'M the public nicr' and, Ia every othcr trade, they
viii protect themselves In some such way what mean
H. that the pains will not he taken To put the coal
Ia as good shape after IL comes out OF the ne ana the
byer will have TO consume tie Inferior article until no
! is willing to pay a far price for the best.
A. s. Swords who IT was claimed bought coal In the
interest OF the Pennsylvania Company, treated the
| saton as an absurdity. lie said
am so foolish as TO lose such an opportunity as