Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-08-30
BLACK DIAMONDS AT AUC-
TION.

truly yours, GEO B. NJ CLELLAN.
BLACK DIAMONDS AT AUG
TKON.
Immense Crowd Present-spirited
Bids-Prices Low to Medium.
Coal Operators In Pennsylvania sas
the Prices Obtained viii Compel
Them All 10 suspend MIN.
Ing Operations.
NV foRK, August 29.-The great
coal sale took place to-day at noon, 81
Hanover square, which vas com pletely
blocked with coal spectators. Buyer
from all parts OF the country were pres
ent and intense excitement Ieiened In
the nelghborhoeds wagon trucks and
windows wele filed with spec! ators,
! while the actual buyers were congre.
| gated ia dense mass around the auc.
tioneer's stand. sThe latter read the con-
dittons OF the sale and annCu need that
1t was perfectly bona tide, and that no
reservation was to be put on the goods
offered for sale. He said that there were
four companies represented, in the ssle,
but they were not combined in any way
| and no effort would be put forth by them
to keep the market up, and buyers could
bid aud rest assured that their own iudg-
ment was all they had to contend with.
The four companies selling coal were:
Delaware :snd Hudson canal coal COM
pany; Delaware, Lsckswanna and
Western railroad company; PhiladeI-
phis'a lad Reading railroad company, and
the Pennsylvania coal company. D3l-
aware and Lackawanna first offered
one hundred and ten thousands tons coal.
Five thousand tons steamer coal w As
put up, and 1000 tons of it sold for S.;
the price then fe to 81 IS, and then to
81 IS, at which the balance was bought.
Forty thousand tons were then put up,
and the first pr'cs offered was So so, at
which over Ii, 600 tons were sold; the
remainder sold for So 20 to spectators,
who bought at the rate of 5000 tons bid;
$4,000 tons Of egg brought So "a. and
So 121. There was decided manifesto
ton on the part Of buyers to wait until
some one made purchase, and then
beat the price down. Purchasers were
evidently uncertain of how far the mar
ket might break, and many held back,
expecting to getgood b bargains. In many
cases they were successful as prices
tumble d during the sale and then recov-
cred to beyond the starting point as the
supply became eXhsuste Forty thou
sand tons OF stove started at So 80. at
which 900 tons went eff; 1t then ad-
vanced at jump to So 80, and was rap
idly disposed OF. This finished the Deia
ware and HUI ison canal compauy's stock.
xzfF At TOW Of
d slaware, Lsckswanpa and Western,
known as rs :rauton COAL" 10, 900 tons
OF steamers sold at So IS down to SIS Is;
10000 tons of CRATE went at 81 So 10
81 IS; IS 600 tons Of egg began at 81 so,
went down to So rs, and then up to
50 80; 40, eco tons of stove then started
at IS IS, rapirly declined to So So, and
then recovered to So 62a; Is 90 tons of
chestnut went off at 81 6002 IS. OF
the 100000 tons of the Philadelphia and
r esdIng coal and iron company, 1900
tons only were deliverable at Williams.
burg by barge or boat, the IT III Sinder Of
the 125 600 tons at Port Richmond.
Seventy five tons of fuel was put up, and
5000 tons of egg went at 81 674; $4,000
tons of the same went at So 60, advance
ed to So 622 then declined to 81 so, at
which price The balance was bought up;
90, 900 tons of stove then commenced at
So 20. went to So 223, and advanced to
So 25; 10000 tons of chestnut sold for
S. 20; 10 600 tons of steamboat, de-
liverable at Port Richmond, sold
at 81 25 to 81; 10 900 tons of
broken, was started at So As, jumped
to 81 20 and then to 81 So, one lucky
Spectator buying 5000 tons at So As;
$4,000 tons OF egg, on same conditions,
were next offered, and 1000 tons went at
81 80; the price fell to So %, and finally
to 81 173, at which figure the lot was
closed out. Fifty five thou sand tons of
stove commenced at So ST. and fell to
So 523, at which price the remainder,
$4,000 tons, was bought up. Fifteen
thousand tons chestnut, all Philadelphia
and Reading railroad company lot, sold
at from 81 80 to 81 rs, at which the bal
ance was bought up. The next lot con-
sisted of so, 600 tons of the Pennsylvania
coal company; 20 600 tons Of CRATE sold
at So 673 and So 20; 5000 tons steamer at
50 724; 1000 tons egg at 81 IS, closing at
81 80; 25.000 tons etove were put and
5000 bought at $3 80, the price falling
quickly to So go, and the remainder was
dispoeed Of at that price. At the last
sale of the day, 5000 tons OF chestnut,
the bidding became brisk, and buyers
were anxious. The first sale was at
s. 4ss, and tn, price quickly ran up to
S. so, So so and s. 20; the Lalance was
disposed of at So. This concluded the
sale, The prices tumbled from ST. to 81
per ton on all the grades. 1t is said that
other gigantic coal salss will follow.
louisville, PA, August 29.-The
prices realized by the auction sale Of coal
In New York were anxiously looked for
by all engaged in the coal trade. Much
surprise and alarm was shown as the
prices were bulletined, the general ex.
pecsation being that the sale would be
adjourned II So so per ton, as the lowest
figure, could not be obtained. The coal
operators say the prices brought will
compel them all to suspend operations,
unless the tolls and labor can be reduced
to q much lower figure than at present,
with the chances against them sven of
great reductions. As the miners will
hardly submit to lower prices than thcse
now prevailing, the situation has q
gloomy outlook for the fall and winter
trade.
Crime and Casualty i'm New Orleans
NEW ORLEANS, August Estate
Tax. Collector Yates, Of st. James par.
ish, was arrested and is now in prison,
charged with being defsulter to the
State for over forty thousand dollars.
James Payne, a stock dealer, was sit
ting on a gallery leaning against the
railing; the railing broke, and Payne
fell fifteen fest and was instantly killed.
A boy, aged about sixteen years, was
killed by the Canal-street railroad steam
train tonight, while attempting to board
q csr when the train was in motion.
Killed by the Explosion of a Boiler.
ST.. LOUIS, August 29-The boiler OF a
steam threshing- machine at work at the
farm of John Harris, near Lone Jack,
Missouri, exploded to-day, killing George
Cobb and a young man nsmsd Powell,
and seriously ipjuriDg James Steward,
John Harris, and man named Potter.
The Red River Raft.
SHREVEPORT, August 29.-Captain