The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-09-24
CHEAP COAL F0RTHE POOR
THE ONLY COMBINATION Possible
FOR THE FUTURE.
Two Great Corporations that NAV soon Own
or Control the Entire Coal PieIds-Tbe Fi-
pancisi Condition Of the Coal Roads BE-
where the Extra Profits on Coal were sunk.

THE Sus has been printing for months past
Even after the collapse Of the combination
proved THE SUNS views TO have been the cor
rect ones, come OF these writers tried TO make
themselves believe that the coal maenates
would not hurt one another, and that. finally
new combination Of some sort wouid oe
formed. Had they kept IN view the self-evident
truths that have long been for told In rHE scN,
they would not have been led into this error
that the same men who kept the old cOmbina-
ton In hot water. and finally caused u to burst
had Interior purposes to serve that would make
IL bad policy on their part to loln any combira-
ton that would result in any benefit to their
competitors. Your correspondent boldly reiter-
ates that no coal combination Ia possible for the
future except such as will arise from the entire
coal fields being owned and controlled by one or
two OF the great CORPORATIONS. be they mem
hers Of the old combination, or he they
Col. Tom Scott and Asa Packer. The signs
Of the times aud the trade both point
to the latter, and the combination here indi-
Gated is only a question OF time, unless the law
making power should intercede in the mean
time, which Is not at all likely since the Penn
sylyana Legislature is always too completely 10
the power OF the corporations.
And just here very i'm portant question arises,
which, though 1t has no immediate connec n
with the coal trade. Is nevertheless at this time.
full of significance. In the schedule accompany
Ing the new Constitution OF the state there was
aprovision that any corporation, before asking
under and accept all the provisions OF the said
new Constitution. The most Of the coal road.
did not accept on the ground that they had all
the legisl alton they wanted, and yet II is posi-
tivelt known tn 1t some Of them are now secret
" but actively working to secure a favOrai lie
representation Ia the Legislature Thus the
Reading corporation has had standing
sc,sve "D Dsr, Sartr pn,cs "na yet ms YEAR ar
for the fret tme In many wears. its oficials
swarmed the Republican County Convention Of
cChuylkill county. ctuSine the defeat Of every
candidate who was at all suspected OF anti-cOr-
poration or anti monopoly procliyites. In view
Of the facts aDove stated this matter becomes
Import Mt. What done mere In Republic
can district was also done IN the Democratic
districts. What particular things they Will ask
at the hands OF the Law makers lie MOI. yet known.
nor ls II OF present Importance: IL Ia enough
That thev do want something. and that they Will
strain every nerve to get II. rhis pr, resent di-
lemma requires extraordinary measures to en-
the Legislature. II IL comes To a fair and square
ssue between Cot scott and Asl Packer on the
jDe side, and +. H. Gowen. san sloan, Hoyt.
and Dickson on the other. the former Will most
likely come out winners.
THE WAR TO GO on.
The statement ia going the rounds that the Le-
high Valley operators. while fixing the prices
Tor the line and city trade at forty Ave cents per
ton above Reading price-. tx their rates at COM
Is the ante-comDinaton story repeated, and Is
nothing new to the SUN readers. IL Indicates
that the war between the two regions. begun
there is no occasiO for the companies and
GENERATORS to hope for Improvement In prices
but one locomotive to haul coal At the upper
end Of IT, branch. but during all the time Of the
late several suspensions II kept two locomotives
there. taking all the coal those colherles could
produce working tull time. II Is this kin Of
work aud the secret undertaking Of prices at
competitive points that raised Mr.. Gowen's ire
as soon rs discovered. and caused him TO resolve
upon war upon the Length Valley Company,
In which he counts upon the assistance OF all
the other coal roads, except the Pennsylvania.
In view Of thsand tue additional Z ct that
Asa Packer has for some time been cunnngly
PLAYING for the mastery Of the coal FIELDS u be-
comes 40 Important matter to know the financial
condition OF his corporation. and consequent
" his ability TO stand war Outward appear
ance and the fact OF his having declared an
per cent. per annum dividend payable in
October. would indicate sound condition to
the suuef hctd observer. But what are the
actual factsY In the matter OF stock and deDt
iu1ation the Lehi1h Valley Company stands At
the he ID OF the list OF coal roads, with nearly
40 per cent. since -a8. or an AVERAGE Of ~ per
cent per annum. lhs II certainly queer ex-
bloit In the face Of the regularly declared divi-
bends Of from to ~ per cent per annun dur
the money for the dividends come from, " not
from fresh ioansS he roads snd other proper
ties claimed to have been acquire with this In
crease Of stock and debt too are not Of u very
promising nature financially. The reports beng
exact figures, but In 1874 the payments were
<5,Oeso,E2e 81 and the receipts only s6,75q,3al e.
oCi Is. ana the de6t oy ssos4 900. and the amount
paid for dividends WAS t2.35sls2O he above
gross receipts, though Idlllk snort OF covering
the actual necessary expenditures, were earned
from charges for freight and tolls which have
receipts in 1874 failed to equal tue eIpe nses
how can they % made 10 do so now with re
A BITTER FEELING.
In reference - the war between the individual
coa Interests and the corp rdions, the last fe =
DAYS nave developed very oitter feeling "
corporation managers are manipulating thu
trade all into their own hands. which woulc
In nj he inAi
viduals and make them an easy prey FOL
the monOpolist, the only difference between
what was then one solid, gigantic monopoly, II
now broken up into SIX smaller but none the
less eIacting ones, the benefit derived by the
consumers being drawn mainly from the utua
desires for the supremacy IN the coal trade
ue storf oihlnk 'uo possloie ioI hhalIoh ol
anew combination In the near future, apur,
invention by which the companies expect &c
benefit by Inducing people to buy heavily 10 an
ticipation OF advanced prices. Since the work
ingmen have accepted tue reduction 10 wages
and there Is. therefore. to be NJ suspension from
that source, the last excuse for a forced curtail-
rent Of the supply Is taken away. The very fact
that the operators made the most exactlng and
unreasonable demands Tor reduction Of wages
actually bringing the days wages for miners
down to about Is 30 per week the inside labor
e.. TO s1S, aud the outside llborers to from
oesire to work but being unwilling to carry the
blame OF SUSPENSION themselvss, Tried &c
badger the workmen into a strike. There
few operators who keep heir cOllieries idle until
they say, they can get higher prices for coal
enough Ia the past TO lay by an ample store fol
n rainy day. Though he immense reduction Of
wages was bitter pill for the miners TO swal
low, they did wise thing IN accepting II for tn,
time being, because they thereby enectuall'
blocked the game for an advance Of prices, and
with the light tbat Is now being shed upon tn,
whole subject Of tho coal trade, the day when
by force ~ public opinion, they will receive
their Just dues cannot he long deferred.
RvIsoUs GREED.
The companie. and operators say they hay
not made any money the past year or two. be
cause wages were too high for the price OF al
That will 10 to tell the marines. Inc readers o
The SUN have already the evidence that for tn
years ls73, 1874 1875, and for 1876 to the burst
Ing OF the combination, the price Of coal aver
aged 81 Of more than II did In 1872, when wage
were fuzzy rs per cent. higher than they wer
four weeks ago, ana 40 per cent. higher tina
they are now. Tho cause OF tue failure
make profits must be looked Tor In al
other direction. IL was the very gree
10 enhance prices which curtailed the do
mand. aud thus brought about the man
suspensions. thus In the hrst eight months
the present year there was not more than abot
three months steady work, and one month
IDLE time at any ordinary c0lliery will eat up u
Iroats Of a months full work at good prices Il
coal. VIII explain. A colliery Is unlike Ia
tory IN most respects, During suspension tim
the expenses % keen II up are large. The mule
must be led, the water must be kept out, whlc
requires TWO engineers, tue boss pay goes OF