New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-10-17

tempt to control the laws OF trade through the
IN chinatons of q combination. This is the real
effect OF the action of the Coal Board Of Control in
increasing the output for October To comprehend
this fact fully 1t Is necessary to understand that
each party to the combination had mined its full pro-
portion Of all previous alotments, and that while
some had sold their entire output aud unable to
fill orders which were received, others were so
loaded down with their production that they
scarcely could find storage room for it, Hence an
increase of COO 900 tons in the allotment for OctO
Der is a surrender to the demands of those COM
pauios which are out of COAL and a violation Of the
principles of the contract because takes from these
comparies having coal on hand the control Of
market which the system Of percentages and lin
tied production was intended Ia guarantee
Bat while attend 'ng the funeral OF this combina-
ton, which was scarcely six months old. commit
tee OF the moUrners was appointed t. discern some
other plan whereby the public can he made 20 pay
interest on the fabulous amounts Invested IN coal
lands AT the top OF Initiation prices Among coal
men the result of tO-days meeting was clearly un-
derstoOd ard lower prices for coal were freely pre-
dcted. With wheat selling III Chicago at 77l2
cents pork at 81 so and all other articles az pro-
portiOnatcly low p1ces, and with the iron
nterest-particularly in the East-fast declining.
cheap coal Is "a necessity. and cheap coal would pay
fair profit to any reasonable reconstruction OF tine
captalizatOus of the coal interest and of its leases
The is true of the railway interest. Nnlucd by
the same me hods as other real property Is valued,
there are few railroads Of which the proprietary
interest stock would he considered OF any Naiut
after the mort cages. At the West. where compare
lively high rates have prevailed for transportation.
We hear theresa general feeling that the hatcs must
he reduced to meet the lower prices which the pro
ducts bring III the markets. and IN several instances
in the Northwest the railroads already have made
a reduction of from % 10 30 per cent.
At the Stock Exchange to-day a more quIet Zee
Ing was observed, yet the anxiety was not chtIelS
removed and the stock market continued !cNcilSL
and unsettled. The total business amounted only
10 1873 700 shares. At the opening prices fell of
frou - 10 ! per cent, but were quickly rallied
then followed dulness and another slow dc line ana
another rally. These movements were repeated Tour
OF five times during the day. finally closing with
rally aud some prices at the Dcst OF me DAY me
worst feature OF the ma; ket is 0bseTycdiu arencwal
of spasmodc movements and an evident desire TO
force prices. This was particularly noticeable 10
day in the Northwest common stock, WhIch, alter
Opcniug AT ;}9lo and selling at 3SlS- was suddenly
advanced to iO@s After this II again declined 10
400. and lust before the close advanced 10 4O4
The preferred stock with equal rHHdlty nuciddtcu
between 7Ol2 and 7ll4 closing at the h ghtI iEuir
Lake shore sod at 6G3t 4G1 "a GG's a G1Is, MCh-
gan Central al 81 hats, and Ia" at ii ga lt'o4
IL L. Iron MOuntaIn was CONSPICUOUS Tor It's Use
from 90, to - and Wabash was prominent AT 1925
al lg3-a 91d Jnc latter stock closing WITHIN - Per
cent of the highest pnce at which II has ever Sold
The coal stocks opened heavy, with n, AWARE
Lackawanna and Western down 10 BOIL, Delaware
and Hudson 10 453l Central Of NeW-Jcrsey 10
81 L. and Morris and LSsex 10 81 Ia But general
belief tuat from the NEE ting OF tie Board Of Con-
troll today there would be gIycA out rOse-cooied
report of IT'S proceedings caused Use lI Delaware,
Iackawauna and Western to Jll2. Later II sold
back to 5O5 but Jus before the close, on "A IcPOi,
that everything was harmonious" II again
advanced to lhsa 81 y the other coal shares also
closing at about The Dost figures OF the day est
crn Union Was active, first declining to so, tucn
rising To 81 again falling 10 S9's, ana Closing al
DOS The market closed fever silly strong.
RANCE or TnR STOCK HAUKTr