The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-05-21
THE COAL COMBINATION.
ASA PAoKER,s COMPxNY FORCED
INTO THE RING.
Plan Of the Coal Monopelists 20 Keep Up
Prices Loreeiy-Increased supply Of An
thrncitc-No Danger Of Famine.

Plan Of the ConI Monopelists 10 Keen Tn
Prices Largeiy-Increased supply Of An
thrncite-No Danger Of Famine.
PoTTsvII.LE, May 20-The Lehigh Valley
Railroad Company recently resolved to abando on
the great coal com bination, alleging az a reason
that the combination has injured trade, and
that other members OF the Ring have not kept
faith. II Is well known that the Philadelphia
and Reading Company and the I.ehigh and
Wilkesbarre cannot meet their ally large
obligations unless they obtain extraord inarily
high prices for their COAL and 1t Is believed that
Others OF the combined corporations are In a
similar dilemma Hence the Lebioh Valley road
must be brought to terms; a meeting OF the
combination was called, a plan was drawn up
bv Messrs. Gowep, Sloan, and Dickson. and Mr..
Asa Packer, President OF the Lchigh Valley,
was given to understand that he must add his
signature or there would be war. Mr.. Packer
signed, and the hopes OF broke ring and cheap
coal have vanished. The terms Of the agreement
TO adhere to schedule prices, but also to stop
production for At least ten days. so rs 70 keep
the stock In market within the specified limit.
The total supply Of anthracite for the year is
liked at 1000 900 tons, and to each compacting
comp nv Il allotted its portion of that total sup
ply, according to its capacity. II the demand
also allotted among the different companies
Re ding Compsny is 2,Scoooo tons and Il /, has has
already supplied more than one-half of that
amount, It's shipments being 13l2,1+3 tons to
date. The total supply OF anthracite from all
the regions M to date In G2p.563 tons ahead Of
that OF At year to the same tune. The supply
OF bituminuus IL Stacking OF somewha at, but IL
IL so far 55,4Ss ahead Of that OF the same period
last year. The Increase In the comparative sup
ply OF anthracite is accounted for partly by the
fact that last year the Schuylkill region was
totally suspended, aud did not resume work
until the latter part Of June.
The Lehigh Valley Company has never been In
full sympathy with the combination, aud was
the only company feared by the others, yet until
now II was never found necessary to force It
into the traces. Had Mr.. Packer decided to open
warfare instead Of succumbing, he would have
dealt The combination tue severest blow II could
have received from any quarter and II Ia believed
IN only the most extraordinary Inducements
could have prevailed upon him to fall into line.
His company Ia a strong one, and its coal has al
ways brought the highest price In market. With
him pliantly In the Ring, however, the comhin
ton becomes more gigantic and powerful than
ever before.
Towarc the close OF last year the Pennsylvania
Coal Com any made break from the cOmbina.
ton by selling coal at from nfty to seveuty-nve
cents less per ton than ring prices; but IL only
maintained that attitude until the time for
forming the compact for 1876, when 1t went
back INTO the ring.
Although these manpuvres will not result in
the price OF coal being raised above that agreed
upon In the schedule fixed at New York some
months ago. yet the recent decline will be re-
covered. and the schedule maintained for the
year. unless "A break should occur in an unex-
pected quarter, which Is not at all likely.