The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-05-30
THE REIDING RiTLRO.fD'S DISTRESS
Workmen's Fay In ACKNOWLEDGEMENTS Re-
sorted TO for Raising Momcy-Mr. Gowen's
Iii suocc. Abroad-GIoomy Prospects.

| sorted to for Raising Money Mr.. Gowen'.
Iii Success" Abroad Gloomy Prospects.
louisville, Pa, May est long ago be-
came rule in the coal regions to Judge Of the
solvcncy or insolvency Of n corporation by the
promptncss with which II paid s employees.
Previous to this year the Reading Company al
ways paid its men from the 10th 10 the 10Th OF
tho month for the month previous. Thus it al
ways had from ten to twenty days pay in hand.
But ever since the first Of this year IL has do
laycd beyond that time, hut never so late rs this
month. Up to this moment the pay has not been
forthcoming, although tho poor workmcn. Mt
starvation wages. are suffering for want Of tho
few pennies coming to them, and the business
community is consequently placed in the worst
possible straits. every cent almost Of the money
being owed to Them Before this time last
month some Of the workmen threatencda strike
Il their pay should not como Immediately. and
it is feared that If pay day Is delayed beyond tho
end OF this month there will be strikes hero and
there, If not generally. This is tho way this COM
pany is demonstrating its ability to meet tho
liked charges against 1t promptly"
Tho iron and coal piled up in heaps and In
cars along tho limo of the road is being mort
gagged TO raise the money to help pay off the
Heating debt tho bondholdors areasked to take
one-half tho interest in scrip, rcdecmable I'm
five years, and the stockholders arc requested
to pony" up between six and seven millions to
save thcir investments. Tho collicrcs are driven
to their utmost capacity. and tho coal rushed to
market. The colliorics are being worked upon
plans Of forced economy that will ruin them in
a short tmc. and the utmost amount Of work Is
squeezed out Of the half-stlryed miners. until it
is safe to assert that us much work is got out Of
one Of them rs used t. be done by two men in
ff4a. attf al. l.. Al.
we'll Some OF the best miners are now working
wo weeks for the price Of barrel Of -FOUR and
hundreds of them are daily asking to be put in
the places Of unskillcd labor. and labor through
out tho coal regions was never 50 DISCONTINUED
az now.
All this adds to tho embarrassment Of tho
company nor does anything Indicate that Mr..
Gowcn has met with success in England so far.
What becomes now OF his report made some
months ago, that the British stock and bond
holders were the first To agree - his PROPOSE
tons for rclicf2 II they did 90. his hurried
visit there at this time is itself pos tive proof
that the company is in a worse condition than
wus at first supposed. 1t il laughahle to read
in the papers devoted 10 this company inter-
e-ts the excuses for Mr.. Governs apparent re-
iusal 10 agree to general suspension. Accord
ing TO them, he does not trust some Of the
others since they showed bad faith in the other
combination. g.. This il the merest nonsense.
The cat in the bag is of another color entirely.
When he let for Europe the board selected Mr..
k"im to temporarily llll his place. aud would
under thn thlfnb ~ MIR Gn,y1n thnt thnv rnuid
not attend To- tho little matter nf n su-pnusinn
which tnry uenl ~ bn So fond nf ,lninr Nor ID
their advance contracts hin,l.r thntr from, ena-
p.nlinp hut their nn..ssitin. do ar. MOI THAR
,mlmrril. enanf- ,r.nt IN lil,li without LOSING, a
month Is urodnotiOn and ti1ffis. with tho m raa
ontniling enormous eNponsns turin, illrnns-
single loss il more than tho contrary can
bear and here would b. n double lias Tie
fact il that tlo british stock and nj loiiora
had 10 h.. nrst consulted ms ~ Tho .,i,rse ~ bs
pursued and that Tim. had Ia hn ,-,inn1 in tho
hope of ,hnwing the others into some foolish
action That would civ. t,nvnn al i, "a e,rt ~. h -
own ingenuity had fnilrd to secure him Uo
would like 10 have tho name of tn. Bismnr.k Of
tho coal domain. although he Inns moi vet eot
over tho A Is & of il
A year ago the people In tho coal regions
would have looked upon n crash i'm the roni
concerns as a great calamity 10 them. To-day
tO be- inevitable under tho belief .hnt come what
may things canrot be- made worse than they nrs.
Wherever YOU look in these regions Won behold
the evidences that the rorporntion eXtnrinonrt
so far a. combining the mining and CARRYING OF
coal is concerned Is a total failure II has a
tendency 10 ruin and ,.ruen ont two most useful
classes Of people, the w0rkinEmon and busi-
ness mon and cr,atr n most hnfaI p,.ttv aris-
torracv. This. at least. is the cuss Ia ) .huyl-
kiil county
II tho man who wrote mp tho OWLS ~ " Irish
material enough for grand blast ON Amrri-
can Ahsontecism." He would find that the for
eign bond and stock holders are getting the
cream OF our great natural wealth, and that
the Reading Company atone. when il meets its
obligations. pays an amount annually To its