The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-02-26
IxiMTNfNG THE cor MEN.
The Effort Of the Companies 20 get Remuuer-
alive Prices.

The Railroad Committee Of the Assembly
appointed TO take testimony relative to the coal
combination took the testimony Of the railroad
mngnatcs yesterday. Mr.. Thomas Dickson.
President OF the Delaware and Hudson Canal
Company. testified that tho first meeting that
led to the organization Of tho Anthracite
Coal Association was held in the spring
Of 1877. and that he sent invitations TO
all coal producers connected with railroads
to attend. Excessive production OF coal had
demoraized the trade, and tho association
was designed 10 limit the production TO
the amount of the demand. At that meeting
were Mcssrs. Samuel Sloan President Of the
Delaware. Lackawanna and Western Railroad,
Geo. A. Hoyt Of the Pennsylvania Coal Com
rany; Mr. Gowan Of the Philadelphia and
| Reading Railroad; Mr.. Sayrc of the Lchigh
| Valley. and Mr. Pardec n n representative OF
! the individual operators OF the Iohigh Valley.
| Tho mcnting was informal nut was designed
| to establish line OF pro- uction that should ho
dnecr. The next meeting was held The follow
| ing May. and was Intended to 'N the amount
! amount Of production Tor each com,
! pany was founded on It's producing and
| CARRYING capa.ity T. was at ne same mc@t,ns
/ amount 81 the demand. but to advance tlierrice
| a. coal fifty cents per ton, rs the markci price
| did not pay for bringing 1t 70 market. Th"'ar-
cor ling to the prico Of labor hut never loss than
| 1.2j per ton. From the figures nf previous
years II was estimated that 10000. 600 tons would
! y" needed To supply the demand for ISIS. ani
H. allotment Ta- founded on ,l7 est mt; IN
! represented at II meeting at which IN" re-
! port of commtoe was received pr9Nding
npicly in New York and Philadclpha
| The associated companies agreed To- divide
| The whole amount oi coal in accordance with
| certain percentages. and committee WIS ap-
hoininI to d.terininc the rate ~ GontlE,' Ter
| the different companies. Tho question ~ at
vancng prices was left to the Individual Gus.
| toners. Tho Pennsylvania company advanced
| Western sold It's coal 10y auction. The D'la.
ware and Hudson wa The only one concernc,d
| Tho combination was not formed to advance
: producer and consumer are identical. and
! lows. Coal had been sold in this hnrhor as low
A. 1928 and as high as sl3 aud sli pr ton.
! Last year the average price of bal was % per
ton II was about $3.50 IN 1876 and over q in
1875. The Delaware and Hudson Canal Com
| present price Of labor 1925 will pay the fixed
charges. hut the stockholders will got no dlvi-
coal as low as $2.2j per ton. Usually thc lcased
! lines yicld an annual proht OF from t1OunOo 10
| thought the losses of his company on the coal
business. which had absorbed all its other
profits. amounted 10 ahou, II 5Oo0Oo His COM
! Iany had never refused 10 sell coal al the mines,
or To- carry 1t for persons who bought 1t thrra.
! The agreement was not in; ndcd 10 shut out in
| divduul operators,
Mr. George A. Hoyt President Of the Penn
sylVauia Coal Company, testified that his ,um-
pany's sales from 1867 To- 1876 averaged tiGi
! n"i. The prices are nine cents and three mills
/ less than before the Arrangement was mad".
! Thoerrangemont WIS made not 80 much 10 put
/ NO prices a. 10 keep them even. Al pros nj no
! one will buy coal. We have 2Ol boat loads GA
/ hand now. and nobody wants IL. There il so
much coal on hand that II must he a long tim"
before the effect IT the Arrangement ean De- felt.
W. advanced prices fifty cents about u month
ago. and since then Wa have sold nothing.
Mr.. samuel Sloan ostiiled that he l. lry-il mt
Of the Delaware Ii 'kawanua and W storm
| Railroad. the Morris and Essex. the syracuse
| and BinghamtOn. the O-Wg-o and Nyrtcu~r. the
| Michigan Central the Houston and Great
| Northern. and other railroads. He declined To-
answer questions by advice Of Lawyer VIM.
| IIr sbanc. who fled the following formal ob!ee-
! ton.
We object 90 anv AMI evcrv quesnOn relating to any
meeting prclmutlA to ur tc mtAiu- U any aer'tmcu q
ut d. shown THAT 80 those meetings some t0rNNr tlon
oi the state OF New YORK with which the witness
connected was represented n party o sai asr' m,nt
Mr.. Brisbane took the ground that the rail.
! rouis represented hy Mr.. Sloan were orlHn ils'l
in NV jersey and other States, and that cousc-
| qu"ntly "A committee from the New YORK Logs
! lature Is not competent to investigate their
| business or management.