Omaha daily bee., 1877-01-16
THE Coal TRADE,
-Reputed r. ewal of the Combina-
tion-Thel acts in fhe.Matter.
New York Daily Bulletin.

1t has been stated for some days
past that the various coal-produclng
companies r endeavoring to effect
a combination, by means of which
the production of coal will be liml-
ted to the actual demand from con-
sumers. The details of this prOpo-
sed combination have not been
public, but it is understood that the
object sought for is to limit the pro-
ducticn of coalt to the reasonable Ca
pacity of each mine, and in this
manner to avoid q glutted mar
ket, as at present. The COM
binatiop. if formed at all.
therefore, will be simply for tom
mage, aud will have nothing to do
with prices, each company being al
lowed to obtain best prices they can
for their own productions. In rela-
ton to this matter, a reporter of the
Bulletin on Saturday called upon
Mr.. Samuel Sloan, President of the
Delaware, Lsckawanna g. Western
Railroad Compeny, and was in
formed by aim fsdt 1t was proposed
by The various coal companies to
form such a combination. Mr..
Sloan SAID, however, that the COM
pany he represented would have
nothing to do with either the one
or any other combination, either in
regard to tOnnsge or price. He said
further, that he had been drawn in
to the last combination much
his wishes, and he had
enough OF it. No consideration
would induce him to have anything
to do with another combination
either directly or indirectly. He
said he did not speak IN this man
ner on account of any animus to
any of the coal companies, but sim
ply because Is a business principle
he objected to all combination as
hurtful both to the public aud the
companies. He wished every sue
cess to the coal trade, and to all the
companies engaged in it, but he be-
the true policy for each COM
pany to pursue was to conuuct its
business in its own way, and obtain
best possible price for its pro.
AUCTIONS, without reference to what
any other company was doing. Mr..
Sloan denied the report that he had
refused to JOIN the comblna.
lion until the Lehigh VAL
ley Coal company would give
security IN 100000 for the faithful
performance of the contract on its
part, and ven II all the companies
concerned should offer this amount,
be would not join them. During
the last combination, he said, there
were forfeitures for non-performance
On the part OF all the companies,
out one of them had ever been
and the various companies
owed bis company now IN that way
over 81 900, of which he never ex-
a obtain a penny. Mr..
Sloan COL, .Ided by saying that he
would have nothing to do with any
combination, directly 0 r indirectly,
or either tcnnsge or prices, as the
whole matter was opposed TO sound
business principles.
At the Office OF the Pennsylvania
Coal company the reporter was ill.,
Ormed that the company regarded
he proposed combination f%avorably,
Is it was the only way to control the
and prevent the supply of
,oal exceeding the demand, They
lid not believe in a combination to
prices, but thought that to
,3L troll tonnage was sound policy
md legitimate. The companies,
hey said, should work and produce
,ro rata, according to the amou1tof
'oal demanded, and not produce an
Excess under shy circumstances.
they did not think the companies
eparately could carry out such a
as some of them might pre-
too much, and therefore q COM
inatiOn to limit production was the
My thing that could rescue the
oal trade from its presentcondition,
Or now the profits were very small,
If course the combination spoken I
f would not interfere with prices,
8 each company would be left
D its own judgment as to what
rice it would sell, according to its
ABILITIES and necessities, but prob
bly, the prices might go up. Sew 5
companies might remain out. I
ide of the combination, but their '
rices would undoubtedly be con-
by the general market, so ]
hat the prices of the combination I
you'd became the standard, but
hen prices would be q mere III !
idental matter.
s