The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-01-26
THE COAL COMBINATION.


ARTICLES OF AGREEMENT sIGNlD AT LAST
THE FINAL FORMATION OF THE BOARD OF
coNTRoL--THE NEGOTIATIONS cULMINATE IN
PHILADELPHIA.
PHILADELPHIA Jan. 20, 1878.
The representatives OF the great coal carrying CON-
panes met again to-day the private offices OF Prcsi
don't Gowen, OF the Reading Railroad Company,
and alter hours harmonious session finally
settled all the disputed points anu agreed TO articles
of association for the .sAnthracite Board OF Control,
as ,he members OF the coal combination prefer 10
themselves Tho representatives, OF all tho
interests Affected including the Leh!gh Valley indl-
viiual operators, were present at tho meeting An
agreement signed by all the delegates anu re.o-
luton passed establishing the allotment OF production
Tor the first three months. The terms OF the agree
ment iolows:-
First-rhat board OF control be established COM
posed OF che representative OF the coal shipping
terest upon each OF the following lines:-
l. The Philadelphia and Reading Railroad Company.
2. The Lehgh Valley Railroad Company.
s. The Central Railroad OF New Jersey, including
the Lehish aud WllkesDarrc Coal Company ANA
Lohigh ana Susquehanna Railroad Company and tue
Lehigh Coal ana Navigation Company.
A. The Delaware and HUDSON Canal Company
g. The Delaware, Lackawanna and Western Railroad
e. The Pennsylvania Coal Company.
T. The Pennsylvania Railroad Company.
This Board shall meet as often may be necessary,
shall elect person president and person
as secretary and treasurer. Each representative in
Board shall cast number oil votes equal TO the
percentage which his interest represents annual
production OF coal that the full vote OF all the
bcrs shall 1905 and that the board shall APP
point expert accountant receive the reports
tho different interests, and keep proper
tonnage, payments and penalties.
Sec0Rd-rhat the entire annual production o. coal
(cxcept hereinafter excepted) shall DO apportioned
ana allotted, by amcabe agreement, among tue above
seven interests. 1t being understood that all siZ Of
coal, including Duckwhoat and pea coal, shall
GUIDED aa well as all coal used by any OF the
heating purposes at The Mines and that consumed by
the miners and tho laborers working at Tho
MINES which shall not be included aud IL being
further derslood that all coal hppea the Pacific
coast the United States or to any foreign country
other than the West INDIA Islands or the Dominion
OF Canada, shall not be included IN The allotment or
churaeaDie as such to the interest shipping It.
7hiyd-rhat az the beginning OF each season the
yearly quota OF each interest (ascerained BY taking
It's proper proportion OF an assumed total produc-
lion) shall be divided into such monthly quantities
AS said interest may DESIRE subject tn the general
approval oil Board OF Control, which quantities
shall represent the monthly quotas OF each interest,
subject OF course, to such notifications as the condi-
tion market may require provided that any ad-
ditons doductions from Tho monthly quotas,
ouired by the demands OF tho market, snail be uade
the proportions oil the yearly quotas Of each In.
terest.
fomta-That each interest shall have the right to
sell It's quota IN any manner or ut any price, But 1t
is especially recommended that, with "a view OF bring.
ing the sales departments OF the several Interests
nearly as possible into harmonious accord, the sales
agents OF the different coal companies shall occupy
one room, thereby constituting u coal exchange
EUH-ihat each interest shall pay weekly, TO tho
credit Of the Board OF Control, into desi grated
depository Gtscn cents tor each ton Of coal produced
ana cnargeabe 10 II, as und out OF which, by proper
order OF the board, penalty OF u 20 shall De payable
for every ton shipped IN excess OF proper monthly
quotas Tor the bonent OF those whose quotas de-
iicient provided however, that all accumulatiOns OF
such und, after payments OF penalties incurred shall
Subject proper directions OF the Doar returned
TO the party paying IT, at the end OF each quarter OF
the year; aud provided, that II the fund OF any
terest shan at any time DC Insufficient TO meet any
penalty such interest shall forthwith mako
In all and lad In tharf
lieu OF the payment OF fifteen cents per ton as
penalty, any interest may at its option, furnish such
securitx securities Tor payment oil penalties
when incurred as may be satisfactory TO the Board Of
Control
sirti-ln case OF Strikes lockouts, &C., WHERE in
consequence OF the Inability or refusal Of any interest
produce It's proper quota the tonnage OF the re-
naming interest or interests may be greatly out OF
It's proper proportion interest interests
exceeding shall only be called upon for penalties
upon such proportion OF Their excess as is over and
above amount OF the allotted quantities which, Mt
the commencement Of the season, had been assigned
to 1t them, Tor the perod over which such strike
or lockout extends 1t being provided, that any
ieres suffering strike and not having received
any penalties Tor the amount OF us deficiency during
SAID strike, may, during any period oil me Remainder
the current year, make up the said deficiency
OF tonnage; and provided further, mat where any
interest exceed It's monthly allotment III tons
bul is III excess of It's proper monthly proportion
due the TACT that another interest or interests
has have not shipped us or their iuI monthly
allotment thereby reducing the total aggregate
monthly shipments, sucn interest so being IN excess
may. AT its option, have the amount OF excess de-
Quoted from its next months quota, ana the settle
ment due 10 such excess may thereupon be made by
deduction from addition TO tho next months
quotas, lieu 81 the payment OF the penalties In EACH
Secenth-Inat zach interest shall DO chargeable
with the several classes coal hereinafter described,
IL being Understood that the Lehlgh Valley interest
snail espon and -charg with all
coal delivered by the Lehgh Valley Railroad TO tho
LenIgh Coal and Navigation Company Tor Transports
ton by canal
ElghN--Ihat the allotment Tor the year 1878 shall
be 5 follows -
Per Cent
Philadelphia and Reading Railroad. IS 6l5
Lenigh Valley Railroad Observation-Disclosures. 10 100
Central Railroad OF New Jersey ........... l2.005
Delaware Lackawanna and Western Railroad. IL 100
Deiawaro ana Hudson Canal Observation-Disclosures. II $50
Pennsvvana Railroad. ACKNOWLEDGEMENTS. 1925
Ponnsy wanna Coal 5.oGj