The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1879-10-18
The Trade.

The Coal Trade,
Although the last week has brought an
advance in the price Of coal, iu which, we
understand, the Lehigh Valley Railroad
Company has joined, II has failed to bring
the much needed signature Of the proper
representatives Of the Lehigh Valley coal
interests TO the agreement already signed
by the other companies, and though the
period at which the signature was TO be OBJ
tanned in order to make the bargain com
plete has expired, it is well understood that
the other interests are willing to give any
additional time that may reasonably Ge
wanted in order to properly consider the
question. The failure to command the favor
and assent of all the parties to the agree
ment within the prescribed time we think
matter of much regret, and could the lack
ing signatures be affixed yet, the result
would achieye much good to the trade. The
the aid of perfected agreement is an evil
dence that the demand has about equailed
the supply, but we consider ii highly i'm
portant to the future Of the trade that there
should not only be restoration of public
confidence in the business management OF
the coal companies, but that proper system
be devised whereby for the future, when
ever a curtalment of production is abso-
lutely necessary, it will be enforced and
borne equitably by all parties, and the be-
| lief is general that both of these ends will
be eilectualy secured whenever the non
asserting interests signify their willingness
to cooperate with the other companies
under the proposed agreement. The fact
that such united actions as is now proposed
would have added some $25,OO0,0OO to the
earnings of the coal companies for 1875
that the want of it may jeopardizeS3O ,O0O, 900
for 1880; that over 5000, 100000 ofcapital is
producing no revenue to its owners, many
of whom can but i'll afford the loss of in.
come to which they have been subjected !;
that one hundred thousand miners and la
borers in the coal fields are working at
less wages than they would be entitled to il
coal brought remunerative price and
that all these evils continue mainly because
signatures representing about twenty per
cent of the entire product of coal are with
held from an agreement unte which all
the capital would yield an income and all
the labor be fairly paid, sufficiently justify
the expression of the desire that prompt
action be taken either in perfecting the pro
position offered or in making some effort to
better it. One reason given why the Lehigh
Valley Railroad Company, a common car
rier, declines to take part in any agreement
under which it may be required to limit
production, is that it as a common carrier,
and cannot refuse transportation. The an
swer to this by the other companies is that
they do not require the signature Of the lie
high Valley Railroad Company, but only
that of the Lehgh Valley C0aL Company
which is not a tramporting company but a
mining company. 1t is further said that
the Lehigh Valley Coal Company dslikes to
take the initiative in a matter of such con
sequence, and must defer TO the individual
operators, and yet it is now no secret that
when the call for the meeting of operators
was already actually signed, ready for dis.
tribution, it was directed TO be withheld, SC
thot no opportunity, under authoritative oil
official invitation, has been afforded the in.
f dividual operators of expressing their opin'
ion at meeting. A gentleman entirely
familiar with the subject informs us tha
the following isan exact copy of a call which
was duly prepared for issue and subsequent
ly countermanded:
: BETHLEHEM, Oct. 4, 1879.
Dear sir-At at informal meeting of Goa
operators, this day, was requested to cal
general meeting of operators shipping VII
Lehgh Valley Railroad, at Bethlehem, DC
tober 9TH, at P. NJ. Yours,
A. PARDEE.
The fact that no meeting was called wa
believed by some TO indicate that the pape
would be signed without the lormality of
general meeting, as it is alleged that most o
the leading operators had expressed them
!. selves in its favor but in any event if tn
consent of the Lehigh Valley operators i
required by the Lehigh Valley Coal Com
pany, It's no more than reasonable to lool
y to the latter to use some effort to enable th
operators to express their opinion, and un
til this opportunity is given some one mus
bear the blame for the delay.
1t is by some parties in interest feared tina
s there may be some grounds for the belle
z that other questions than coal mining an
transportation are really at the bottom c
+ the difficulty in the way ofsecuring the tw
i absent signatures to the agreement Wha
is known as "the street," which sometime
make pretty shrewd guesses at causes whic
influence corporate management, and tn
Is latter oracle has already delivered an opiu
l ion, which, however, we do not care to EN-
T. body and repeat just here opening, as
. would, a new subject and new traffic by ne'
), routes. Oil transportation there is reason
- believe is not lnseparable in interest fror
coal sportation.-Ledgcr, Monday.
ssgFuy