New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-01-26
THE COAL COMBINATION.
AN AGREEMENT FINALLY SIGNEI

| AN AGREEMENT FINALLY SlGNED.
MEETING AT PHILADELPHIA OF THE BOARD OF con-
TRoI-THE TERMS OF CoMBINATIoN-six COM
PXSiEs REPRESENTED.
PHILADELPHIA, Jan. 25.-At three O'Clock
this afternoon the Board OF Control OF the great Goa
| companies met at the office OF the Reading Rail-
road to finally decide and sign an agreement
which binds them all to fulfil tho combina-
ton contract. All the lines were represented
with but exception by men who are members OF the
boardi the exception being the representation OF the
Pennsylvania Railroad Company by A. j. Cassatt, In
stead OF Colonel Scott The following is the text OF the
agreement accepted and finally signed:
| First-That a Board OF Control be established com
posed of one representative each the Philadelphia
and Reading Lehlgh Valley New Jersey Central Qnclud
ing the Iehish and wRes6arre Coal COMPANY the Le-
high and Susquehanna, and the Lehigh Coal and Nav
wanna, the Pennsy lyania Coal Company, and the Penn
sylvania Railroad Companies This board shall meet as
dent ana one person as secretary and treasurer Each
representative in the board shall cast number OF votes
equal to the percentage which his interest represents In
the annual production of COAL that the full vote of all
the members shall be 100 And that the sind board
shall appoint expert accountant TO receive reports OF
different interests, aud keep proper record of the ton
mage payments and penalties
SecondThc entire annual production OF coal Except
as hereinafter excepted, snail Dc appOrtioned and
allotted by in;erests being understood that all sizes
coal shall included well all coal used by any
at the mines and that consumed
included; aud IL being further Understood that all coal
Slipped to the Pacific coast or 10 any foreign country
other than the West India Islands the Dominion OF
Canada, shall not be included IN the allotment or be
clargape Is such to the interest shipping 1t.
1hird-At the beginning of each season the yearly
quota OF eacn ascer9ned by taking its proper
proportion OF assumed total production) shall be d-
yded into such monthly quantities as such utter
est may desire subject TO the general approval or the
Board OF Control. winch quantities shnl represent the
monthly quota OF each inerest-suo ct OF course, 10
such notifications tne condition OF the market may
require; provided that any additions TO- or reductions
from. the monthly quotas required by the demands OF
the MARKET sha DC made III proportion to the yearly
quota OF each interest.
fo,ta-l.ach interest shall have the right to sell its
quota III manner or at any price But II Is especially
departments or the several interests as nearly as
possible into harmonious accord, the sales agents
room, thereby constituting a Coal Exchange.
FiJtt-Each interest shall pay weekly TO the Board OF
for each ton OF coal produced and chrgeabie to 10 asa
und OF which, By proper order of the board pen
Of Of coal s1lppeG IN excess Of the proper
monthly quotas FOR the benefit Of those whose
Accommodations Of such fund.- after the payment Of peu-
alies incurred be subject TO the proper direction Of the
the the fund Of any interest shall at any time
such interest shall forthwith make up the deficiency in
cash. and provided further. that in lieu OF payment OF
option furnish security or securities the pay
men OF penalties, when incurred may be satisfactory
Sil-In case OF strikes, lockouts etc. where. in
sequence Of The Inability or refusal of any interest to
interest or interests may be greatly out Of in
proper proportion, such interest or interests so
exceeding shall only be called upon for pen
altlcs upon such proportion OF their excess
Is over and above the amount Of the allotted quant
ties which al the commencement of the session had boon
been assigned TO IL them for the period
wnicn such strike lockout extends 1t
beng provided that any interest suffering from
strike, and not having received any pcnai-
ties for amounts Of Its deficiency during said
strike may during any period OF the remainder OF the
then current make up said deficiency OF tonnage;
ami provided further that where any interest does Tot
exceed It's monthly allotment In tons but is IN excess o!
lie proper monthly proportion, due 10 the fact that other
interest OF interests has have not shipped Its or their
full monthly allotment, thereby reducing the
total aggC gate monthly Shipments such interest 10
being IN may, at its option. have the amount OF
deducted from It's next months quota, aud The
settlement due 10 sch may thereupOn be made
by deduction from or addition to the next months quota
in lieu OF payment of penalties in cash.
ScreHMEach interest shall be chargable with the sew
cral classes of coal herein tter described 1t ociS under
stood that the Lehgh Valley interest shall be RESPONSE
he and char with all coal delivered by the lie
hgh Valley Railroad to the Lehigb Coal Navigation Com
pany for trausp 10y canal
IighN-ThGt the allotment Tor the year 1873 sha De
Per cent.
Philadelphia and Reading. 2s625
Ichigb ate. 70 ,.o
ttntrN New