The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1877-12-15
The Coal Trade.

The principal features OF the coal trad'
the past week have been a lessening Of stocl
and increased frmness in prices. This may
be partly due to the lateness of the coal sea
son and naturally lessened production, an6
partly to reports current both here aud al
New York of efforts making to form another
coal combination for 1873, similar to that in
operation two or three years ago, for such
limiting of production and control of price!
as will protect alike producers and carrier;
Of coal without at all rendering prices op.
pressive to consumers. These reports have
been put in circulation several times within
the past year, but, t,having mostly been start
ell by parties in Wall street operating in the
stocks Of tho several carrying companies
without the knowledge or consent of their
officers, have eventuated In nothing, so that
the trade has generally gone from bad to
worse, until now,at the end of the coal year
nearly all the parties engaged in it find
themselves sufficiently punished to consent
to listen to the voice of reason and willing
to join in divising some policy Of action for
the future that may stay the general ruin
that now seems so imminent. 1t is proposed
that the same six companies that composed
the old combination, with the addition of
the Pennsylvania Railroad Company,which,
now looming up as a coal carrier of about
one million of tons, shall.o Join in a new COM
pact. A year ago the Pennsylvania Railroad
declined to become a party TO the then
proposed arrangement. But on Saturday
the president and directors of this company
held meeting with view of considering
the subject, and President Scott met the
representatives of the other six companies at
New York on Thursday last. So that, under
the improved feeling now thought to be
existing, any arrangement agreed upon will
probably include seven companies instead of
six. There has as yet been no general
meeting of presidents, but each orall of them
has been consulted, and Mr.. Gowen, presi-
dent of the Reading Railroad Company, has
prepared the following paper as outlining
the general purpose OF such an arrangement
as it is supposed allEwill agree to:
FORM OF AGREEMENT.
That for the regulation and management
of the anthracite coal trade during the years
1878, 1879 and 1880, Board'of Control shall
be established, composed of one representa-
tive of each of the following companies
l. The Philadelphia and Reading Railroad
Company,
2. The Lehigh Valley Railroad Company,
3. The Central Railroad of New larsev,
4. The Delaware and Hudson Canal Co.,
5. The Delaware Lackawanna and West
ern Railroad Company.
9. The Pennsylvania Coal Company, and
Z. The Pennsylvania Railroad Company,
Which Board shall meet monthly, or
ottener if necessary, and shall elect one
person as president and one person as Sc
cretary and treasurer.
At all meetings of said Board, each repre-
sentative shall cast number of votes equal
10 the precentage which his company repre-
sents of the entire production of coal as
hereinafter allotted, 50 that the full vote of
all the members shall be one hundred. For
the years 1878, 1879 and 1850 the said Board
ofControl shall have full powcrand authority
to carry out and enforce the provisions of the
agreement, viz:
First. The entire production of anthracite
roal in Pennsylvania shall be apportioned
and allotted to the above named seven COM
l'anies in the following proportions, viz
10 the Per cent.
Philadelphia and Reading Railroad Co. -
Lchigh Valley Railroad Company....... -
Central Railroad OF New Jersey, includ-
ing Lehigh and Wiliesbarre and Le-
high Navigation Company's coals...... -
Delaware and Hudson Canal Company. -
Delaware Lackawanna and Westem.... -
Pennsylvania Coal Company.............. II
pennsylvania Railroad Company. -
BLANK tons to be filled as agreed upon.l
1t being understood that all qualities and |
sizes of anthracite coal, including buckwheat |
md pea coal, shall be included, but the coal |
lirt and clulh shall not be included and |
llso that all coal used by any of the COM
lanies for raising steain and heating at coal |
mines and breakers shall not be included, |
)ut that all coal used by any of the COM |
oanies for any other purposes shall be |
included in the allotment. II being provided, |
however, that any anthracite coal shipped |
md consigned to the Pacific coast Of the |
United States, or to any foreign country other
han the Dominion of Canada or the West
ndia Islands, may be deducted from the
mount otherwise chargeable to the company
hipping it, and shall not be taken into ac-
cunt as part of the quota of said company or
5 part of the aggregate shipments to be
pportioned as above, but in all cases a
roper statement Of all such foreign ship
nents, with name of vessel carving the
argodate and amount of bill of landingand
,ort of consignment, shall be made to the
'oard of Control from time TO time, and
eiOre the amount of such shipments can be
educted as aforesaid. In all cases except
where expressly provided otherwise, that
ompany Of the above seven upon whose line
he coal either leaves the breaker, or whose
inc the coal first reaches in transit, shall he
harged with and become responsible for
nch coal, and each company shall be con-
ldered in this connection as the owner and
esponsible for any ofthe branch orauxiliary
ines, whether of railroad or canal, which
nay be owned, controlled or operated by it,
r witch may belong - its system of rail
rays or canals.
Second. That at the commencement of
ach year the entire production for said year
hall be assumed at some definite quantity,
'hch shall be divided among the seven
in the propo ions above named,
nd the yearly quota Of each company thus
scertained shall be again divided into