New-York tribune., 1879-04-12
COAL TRADE REVIEW.
From The Engineering and Mining Journal, Apnl i2.
ANTHRACITE.

From The Engineering and Mining Journal, Apnl IL.
ANTHRACITE.
The event of the week has been the Delaware
and Hudson Canal COmpany's auction sale, at which
the lowest known In this market auction
were recorded There was very fair attendance.
especially OF those who usually handle this company's
coal, but the price, did appear TO be attractive Tn
sale began with 5000 tons OF steamer coal. which
moved with much trouble At OF ~ O3. Then
followed 10000 tons OF broken which did but little
better the average being ~ 06 This rather Heightened
the faces OF those interested and suppose that tho
conclusion arrived at that let the sale take
care OF itself would be runous, and apparently
assistance given to egg which recorded an average
OF 81 092 The impression Is quite general that the
stove and chestnut sizes we're well b0lstcred IL cer-
tanly looked and, equally good not better coal
was offered previous TO the sale at lower prices we do
hesitate the opinion that these recorded
prices the result OF more or less " bosterng."
That these prices are ruinous should be known 10
everyone. The auctloneer upon seeing how difficult
II was tO dispose OF the coal al even the very low range
OF prices at the beginning or the sale proposed 20
CLOSE the mines aud ~ a-nsling" Inc managers OF
the coal companies wonld do well to consider this
suggestion. Thc stocks would certainly advance ifib
were known absolutely that the company had only
fixed charges to provide for out Of loans There IL no
other industry where business would be conducted at
great that of the coal trade to-day, and
no other would II require meeting OF tho competing
interests 10 bring about curtalmeDt OF production.
But the laws that other branches Of trade
exhaustion of capital and credit will however make
them operative at some day. The demand for coal
during the week has been rather quiet.
There more talk abOut a coal combination this
week Mr.. GOwen OF the Reading Company, was hero
two days, and judge Packer OF the Lehigh Valley Rail-
r0ad Company was expected. bur, from some cause.
did not come. We cannot learn, however, that there
is likely to be meeting Of tho representatives, OF the
several interests while IL is decidedly more imprOb
able that anything would be done If meeting could be
brought about.
Tho production OF anthracite coal last week
iO5,l6l tons. against i57,ll3 tons the previous
week, and 297 1886 the corresponding week OF last
year. The total product on from January TO Aprii
was 513226l tons, 40 compared with 3,O4O,249 IONS
for the Ike period Of last year; showing increase
tbis year OF 2.O02,0l2.
BITCMINOUS.
Considerable business has been done during the week
fore made In tho trade The contracts of the Newfork
NcwIIayen and Hartford Boston and Providence, and
FllchbuYg Railroads have fallen 10 the Cumberland
fields, aud the Boston and Maine Railroad and Otner
large business the ClCarteld OPERATORS chiefly at
prices delivered These prices which have been made
- 80 delivered at India Point and Boston be-
low bridges, give the sellers, instead OF profit on their
coal, simply gambling venture on seafretghs, with
odds decidedly them. It is not unlikely that
railroad buyers OF New England may have occasion
hereafter the sOundness of sellers much
element in contracts the quality and price Of coal.
Bituminous Goals from West Virginia. shipped from
Richmond by the Chesapeake and ONO Railroad, have
also been sold at extremely low figures.