The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1877-10-06
The Coal Trade.

The Coal Trade.
The principal feature Of the trade for the past
week. and, the one which has attracted
great deal OF attention in coal aud financial
circles, is the circular Of the sales department
the Lehigh and wilkesbArre Coal Company, Is
sued from New York on September a7th, offer.
ing the Goa Of that company at prices varying
from Is to 70 cents below tho circular prices OF
the Reading Coal and Iron Company, and also
less than the circular prices Of the Jehigh Val.
ley coal operators. AS IL Is well known that the
Reading Coal and Iron Company were sold
ahead for some weeks delivery. and were not
pressing coal upon the market. the men Of the
Delaware Lackawanna and Western Railroad
Company. the Delaware and Hudson Canal
Company and the Pennsylvania Coal Company
remaining still on q strike with no immediate
prospect OF RESUMPTION. this sudden reduction
IN the price OF coal by tho company that hnd the
marAet practically TO themselves has caused =
n eat deal " comment amonQ business men 1t
has been suggested that nOssiblY the movement
may have been made witch q view Of Influencing
the men OF the Wyoming region now upon a
stri and Of inducing them 10 believe that coal
cannot 90 SOLD except at low prices but the
publicity which has been gwen TO the circular
throughout the country whore anthracite is
used, and the fact that simultaneous with It's
issue t1e clieu nrB OF some stock brokers have
been issued calling attention TO tae fact that the
markeGs for co Il were oveTstOckod by the ship
ments Of the Healing RairOad Company. gives
sOme foundation Tor the belief which 10 enter.
tained IN some circles trat The circular has been
Issued IN aid Of s0ule speculation IN stocks, and
u this 10 the case IL adds AnO her element 70 the
feeling OF distrust entertained by the public Of
the management OF cooperative proper ty, and is
another conclusive Argument In favor OF m es-
tabishod and rigid rule Of corporation ethics
prohibiting prohibiting any person having charge Of tie
dealings in the stock markets. MIR. Parrish.
who ls the contractor for mining coal for th9
Lehigh and Nllkesbarre Coal Company, states,
us we arp informed. That he has nothing what
ever to do with making DrlceH or with selling
The product OF the company, his only business
being that Of contractor, who has to mine the
coal and deliver It to his company IN cars At the
0reaker. There Can be NO DOUBT, however, that
The coal trade, although we learn that the Reai
ing Coal and Iron Company has no intention
whatever either Of reducing prices Of coal Or
rates oil freight nnd tnat 1t has now on Its books
orders for over 900 tons Of coal for future de-
livery. 1t may be well in this connection, to
state that notwit Outstanding the reports of the
DOCKING up OF the markets bv the shipments Of
the kead!ng Railroad, the tonnage OF that com
piny fOr the month Of September will not be as
1875 and that It ia only. 10000 tons more than
the average shipment, Tor tile month OF Septem.
Der for the previous six yesrs. The coal tonnage
for tho week ending September 18th is 205,OOO
tons, and iOr the month S20,rO tOuB. The Quan.
tity eentto Richmond for The week was 50, 100
seduction @ of t6e Pmadelphi E and iO Readips
Coal ard Iron Company will re0ch 4C6,000 tons
for september. 1he quantity on hand Septem.
upI A<u bho SoNeEhl uopSbo VI bho COmphuJ
was as follows:
At Port Richmond. 1.4S0 tons.
In Philadelphia retail yards. 81 46S -
In New York Il Eastern deDOts... 31.742 -
In New York harbOr ntl0at......... 22,0So 80
1OIal' l'.sss...ss.'.'...s...ss.ss .SUordH -
As showing the magnitude Of the tonnage
here noted, II Is but necessary to say that TO
transport 1900 tons requires 900 loaded cars,
making $40 trains Of l3J cars each, equal " in
length OF line to over VS. miles Of loaded cars and
when We take into account the same number Of
empty cars that have to be moved We have an
other % miles. or total Of lsJ miles Of cars,
more than enough to entirely oil both iupiand
down tracks OF the road from POttsviile 10 Port
for some definite information as to coal mat ers
IN the Wikesbarre region, and especially as to
coal matters IN q general resumption OF work
bv Mr. Parrsn's men. They were to have re.
sumed last Wednesday, but up to Saturday
evening only q small number had gone into the
mines. To-day it 10 likely there will be q gen.
eral resumption of work there. or the few at
work will leave the miDos and the strike con.
tinue indefinitely. AS, yet we see nothing in
the aspect Of the coal trade al all discourapnR.
The season for the active movement In cGal iB
steadily shortening. and there is nothing in the
amount OF stock on hand or In the amount
likely to be produced hence to the beginning OF
winter. that threatens any material reduction
III pr1ces. Those who may lay in their winters
supply Of coal at present prices are not likely to
repent their actlon.-LedRer, Monday.
The folio wing table shows the quantity Of coal |
shipped over the Lehgh Valley Railroad fol- the
week entinR Sept 2ond, 1877 and for the year as