New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-02-26


this city Yesterday One endeavorcd to get
at the inner history and objects OF the
coal combination, and examined Pr 9ident
Dickson, Of the Delaware and Hudson Canal Com
pany. at much length. President HOyt of the
Pennsy !vania Coal Company, also gave little IN
formation, but President Sloan, of the Delaware,
Lackawanna and Western, refused to tell anything.
The other committee was engaged with the MOTIFS
Purdy Assembly contest. and got some new light ON
the canyassing of votes in Westminster County
PURPOSE OF THE COAL COMBINATION.
TESTIMONY BEFORE THE ASSEMBLY COMMITTEE
PRESIDENTS DICKSON, HOYT, AND SLOAN EA-
AMINtD.
The Assembly Committee, directed to in
vestigate The coal combination met yesterday morning
at the St Nicholas Hotel The committee consisted OF
CYRUS d. Prescott chairman. and Messrs Alvord Baker,
Chappel Chase Moller, Peck Wempe. and Wheeler.
There were also present Thomas Dickson, George a.
Hoyt. Samuel Sloan. Francis b. 1hurber and others
Thomas Dickson President Of the Delaware aud Hud
son Canal Company testified that he was present Mt all
the meetings this city which resulted in the formation
Of the Anthracite Coal Association He gave many de-
tails concerning these meetings winch familiar othe
readers of THE TRIBUNE, 1t has constantly printed
very full reports OF all the proceedings OF the man.
ayers Of the coal companies Mr. Dickson, sad among
other things. that the first meetings were heid
in the Coal Exchange in the Spring OF 1877;
the reason for the meetings due TO the excess OF pro-
ducton which de1norazed the trade it was intended to
restrict the production TO the demand No suggestion
was made 70 reduce the production below the demand
Ara,io bet veen the companies was agreed to on the
producing anl carrying capacities OF the roads
AT this point Mr. Dickson asked what the meetings of
last spring had with tire present arrangement The
chairman replied that that question would he answered
when the committee became witnesses; now they were
examiners.
Mr. Dickson then said that at the meeting IN Occem'
70 "A hase TemuncratiVp 10
the producer and fsr the consumer remedy for
the evils trade, restriction OF production was pro-
posed; private producers were paid by the carrying
companies according to the price OF labor; there was
minimum OF II % ton, and the price fuctuated from
this this basis fell 81 IL Or several months last year
his comranv had never refused TO carry ton for these
p1Nae producers. 1t WIS estimated al We Hcyu.nss
lat 20 go. 11 tons would be the probable lcPnut-
IrCr OF the kot; this estimate was based on nc sas
o. pi rs tg s was c wanted Wien would steady
price. At the second NEE ns IN DeGemndF' trS ne
entire proau,on Of esc6 for tic previous years
he IS I'm ties az the Of coal demanded varied
fiom Is 10000 21,oo0,OOo tonS 1t was suggested
TIT IL, a ,rccment ne mercy yet al -, a..o.
Mr. Br.sbn, as counsel for several OF the companies
said he thOagGi at suggested or discussed Hoou
ticir legal rights by the companies formed ~ occt Oh
His cx Innpation he objected 10 il.
Tue chairman denied the night oi interference oy eOuh
hr Alyora said that any witness had night to have
couns present. AID to have them argue any p"ht' ana
Tre chairman said the object of his questions to
End out WIZ Their it true. Mr. Graef stated that
agreement was sg"ed because tnat wouu siSe ,e
NrwYork lie sature ground to act against loaos com
Ing into NewYCrk. Mr. Dickson declared tha 10 su'h
Mr. Dclscn aid further at a, his ofce In Ills city
ratio settled by committee Of four according TO
pma SISt''S mStng in Philadelphia on January I6 all
agreed 10 their percentage eXer the tSnEH nai o
January - negotiations had been carried on win the
Irn..i V -y. ;n1 all were in acco' articles
OF agreement. already prepared, were D'ociird ana
adoT.od rs lubsA'd meg eit hn' sii,' ~ a. ~,
cnt was mutual aud verbal on tie ground OF the writ
ten there was NO re"sfn Syn for rot re SHiTg
siCn II AMI proposed that signed, lint The others
deemed II unnecessary. Under tins agreement witness
am Mr. GJTtu secretary DUh the carry ing aud pro
ducinr c.paces o. all tie roads were now larger thah
the basis Of percentages in the agreement.
~, ~" sad in rgari 10 the Anthracite Board; lie
knew the views the rrctors aud thought Lcy would
sustain i'm in his action. His company III January
mined 2lO 900 greater yield than ~ any cores
Dondiu- month Of previous years. Tie companys quota
ior nuary vas 10000; for February and March, 2OO
600 each. The eject OF ihla oY'h1ltHh l E 'tvn
cuInulacd in this city; each COMPANY was iei TO ~, US
PennsyIyania Coal Company he knew had advanced
fore the wirncss was the originator Of this plan
rancclnent entirely different plan was made s,y-
nore uni or!n than before, with lower average OF
In RESPONSE to inquiries by Mr. Avord MI Dickson
said Sine s73 there has been falling of IN demand
for eSa S S2 o zee IN u ms habor a low O as
So a ton; the highest price was fI4 tor.
GaTn e the Ss@ad 1 Wnd ST' loss sF %
the average Of transportation to this cry is 81 90
Ton the estimated value Of unInined coal ls rom 20
to 80 cents per ton last DecrnPsr '1e cCp 'G,n
corpd dividend OF per cent IA naf wear tie aver
age price OF coal was 81 ton; in 1877 II averaged
81 90 in 1873 the dividend Was 10 per cent those
dividends were mainly the result OF the cCdl trade;
anyone may purchase coal and have frcghtage Overt the
roads dudcr control al reasonable rates III ~ no
dividend declared; the report OF The company VIII
wbcn crosse xo,mntd by hfr Bribin Dickson said
that May and june 1877 the Philadelphia and Read;
ing Rain cad threw on the market sucI quantity oi
cool tat thu trade dcinOraliZd TO prevent tts
WIS tie great object of the associations It's purpose was
10 bng forward coal in quantities demanded aud al e
sold coal to his coup M all sO.vent, as they cot
tht'r mOrcy ever. month; IN the scranton region
nearly al the vidual operators had failed repeatedly
Mr.. DECISIONS CLOSING REMARKS.
TIL examination being closed at this point Mr. D;ck-
said "Ths examination has taken wider range than
anticipated and think has gone beyond the spirit OF
the resolution My intention TO be frank. as had
nothing 70 conceal Since 1878 have seen that unless
something was 20 lift the coal trade from It's deprcs-
Sion nothing but bankruptcy in store for sl-the
strong as well the 1t is opposed 10 all ideas OF
political economy that any product De brought for
ward in excess OF the demand and sold without loss to
the producer and dealer. other way TO get
out OF this than by the means used. Had this
Arrangement been made last Spring, l haze no doubt
the iron trade would be in far better condition than
IL is to-day Coal here in So great Quantities last
Fail thatwr sold fl at 10 ton. The result has ben
disastrous to all concerned. The arrangement WIS
made restrict production Only IN Such manner az 10
gye fair profit 10 producers its object was TO regu-
lat the production with tie greatest econ,
ony and Keep the price at "a STEADY ana
MAJ estimate cxlc;y what has coal viii cost him. My
mpany bircs from 10000 10 $4,000 workmen We
now cut down waEes to point beioDd whlch 10
impossible TO co. Many OF the men are almost IN
starving condition. Tins acon was imperative to pro
trC. thc COMPANY from bAnkruplcy Any attempt 70
lranser coal nc ess 10 ot6r hands would be attended
with loss to US, aud suffering to our Inc
too much land In 1860 the hugh Prices Tor cOal acted