The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1879-01-04
No CoDI Combinntion for 1s7o.

tlOnS met at one OClock Friday, 2fth ult,, "
the Coal and Iron Exchange, Cortondt ST..
New York, and as usual their deliberationi
were conducted in private. The following
named persons were present OF the meeting
Messrs. Dickson, of the Delaware and ITud
son Canal Comp22y; Gowen, of the Phila
delphia and Reading; Sloan, of the Della.
ware, Lackawanna and Western Railroad
Lathrop, of the New Jersey Central Railroad
Cassett, of the Fennsylvania Ceptral; Hoyt
Of the Pennsylvania Coal Company; Clark
of the Lehigh and Wlkesbarre, and GracfI,
representing the schpylkill coal operators.
DR.. Linderman and Mr.. WILDER, who re-
present the interests of the Lehigh region,
were not in attendance. The meeting ad-
journed at ebopt two o'clock, and it. was
then ascertained that the following preamble
and resolution had been adopted
Whereas, The present meeting coUyeped
for the purpose of making some arrange
inents for the management Of the anthracite
coal trade for the year l6tg, and full notice
thereof has beeR given 70 the representatives
of the Lehigh region; and
Whereas, No representatives Of the Lehigh
operators or of the I,ehigh Valley Coal Com
pany is present; and
Whereas, 1t is utterly useless to make any
arrangement for the management of the
trade without the active cooperation of the
Lehigh Valley operators, Including the Le-
high Valley Coal Company
Resolved, That this meeting now adjourns
sine die.
Commenting upon this subject, the Ledger
of last Monday says; We have no inlprma-
ton as to the effect of the combination upon
the Central Railroad of New Jersey, but it is
well known that neither the Lehigh Valley
nor the Reading Railroad Company has
made as much money in 1878 as it did in
1877. 1t may, therefore, be assumed that
whilst all the companies in 1879 would do
much better with combination than without
one, yet without one the Reading Railroad
Company and the Lehigh Valley may be
expected to earn quita as much ifnot mora
than they did in 1873. Indeed, the wonder
full facility of the Reading Railroad Com
pany to move large coal tonnages will un-
doubtedly enable it to make up in increased
business all that it may lose in the fall of
prices. The managers of the Reading Rail
road Company claim that it takes 800, 900
tons of coal per month to meet the working
expenses and rentals of full months bust
ness, and that all the gross receipts from
coal over 100000 tons per month arc net
profits. 1t is well known that with little
over 300,O 900 tons of coal traffic in September
the Reading Railroad Company and its ad-
junct, the Coal and Iron Company, actually
lost money, while with S04,00O tons in No
vember the two companies made in net
profits over $93O,OOO. Acting, therefore, upon
the belief that with no combination it is
wise to get all the trade possible, we under
stand that the Reading Railroad Company
has already made an arrangement with the
North Pennsylvania, Bound Brook and New
Jersey Central Railroads by which its coal
trains will run to New York during the
winter and we are informed that the Read
ing Coal and Iron Company contemplatcs
keeping its collieries at work during the
month of January, and expects to do larger
business in that month than ithas ever done
before. 1t is certain that there is not much
coal in the market, and that at low price
purchasers will be found for large Gmount
1t would be batter for all to agree and to
reap the benefit of the demand, but if they
cannot agree the next best thing to do is for
each to try to get the best price it can for its
products, and it is hoped that no advocate of
a combination will attempt to force an un-
willing company into combination by need
lessly putting down prices in order to make
the business improbable. Without COM
bination the market in 1879 may take fully
as much us it did IN 1878, viz, 81 ,OOO, 900
tons, and while it It's asserted thai to The ship
pers Of the Lchlgh Valley region under a
combination their share of increased profits
would be at least $4,OOO,OOO more than they
will get without one,t nevertheless remains,
of which it is well to remind one or two of
the New York companies, that ifthe Lehigh
Valley Company prefers to have no combi-
nation it is very unwise to reduce the price
of coal unnecessarily in order to force it into
one. With tonnage of 81 900 900 in 1879
all the companies should earn their fixed
interest charges if each attends to its own
affairs and honestly strives to get the best
price it can for coal, but dividends upon
shares II IS scarcely probable can be earned
by any company next year without COM
biRatiop,
We CLEAN the followingadditional particu-
lars in regard to the coal trade, from the
Ledger of the lst inst The Anthracite Coal
Combination expired by Limitation last night,
and in anticipation of that fact, both the
Schuylkill and Lehigh operators have held
meetings, with the view of considering a
policy to be observed by them in the future.
The first point for consideration seems to be
that of the reduction of transportation
charges. It was reported on the street though
we could not trace the repart to any salts
factory conclusion, that the Sphuylkill peo-
pie had agreed to come down in their charges
to their operators to very low figures, in or
der to enable them TO compete in the Phila-
delphia, New York and New England mark
cts, in the sale of coal during the present
winter, should destructive warfare as 10
prices be attempted between the contestants
Tuesday afternoon the Lehigh Valley coal
operators held meeting at the Lehigh Coal
and Navigation Company's Office, Third and
Willings' alley, Phiadelphia,a at which there
was full attendance, including representa-
tives Of the Lehigh Valley Coal Company.
Ario Pardee presided and Edward Hill acted
as secretary. 1t was decided to take no inn
mediate action ON the question Of prices, but
to appoint committee to adjust them. The
Committee, composed of Israel Morris, c. +.
Shener, L. Hill, Judge Hamburger, and a.
Pardee, Jr., TO report Wednesday. It is not
expected that the Itehigh parties will put out
any circular Of prices for the present month,
The Schqylkill PaOple win probably follow
the Lehigh example in this respect, though
reports were current during Tuesday that
contracts could be made for the delivery of
coal any time in January at $2I per ton at
Port Richmond, or at 40 per cent. of the
price of coal from under the breakers to that
point, and 90 per cent, per ton at Elizabeth.
The rates named all through are the lowest
ever annoupced, apd, if true, indicate a de-