The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-10-04
THE COAL COMBINATION.

REASONS WHY IT IS NOT LIKELY TO SUCCEED
RISE IN THE PRICE OF COAL.
The excitement over the reported combination be
tween the various coal carrying railroads continued
yesterday. Notwithstanding the emphatic state.
monts made in what considered authoritative
quarters the belief is very general the scheme ID
nothing loss than o stockjobbing rig.
Those who maintain this view persist in declaring
that the Lehigh Valley road cannot enter any COM
binaon. owing to existing contract obligations. and.
this much being settled it is considered proven that
the Pennsylvania road will not sign The president
of the Pennsylvania road is reported to have said
that he would agree to anything unanimously de.
cided on by the other companies. His promise, in
of failure on the part Of the Lehigh Valley
road to sign. amounts to nothing. the necessary
conditions wanting
In an interview had yesterday afternoon with Mr..
Z. A. Packer. OF the oldest operators in coal in
New York. that gentleman expressed himself as Of
the opinion that the report WAS nothing more nor
less than stockjobbing operation. He said that
the return OF general prosperity had of been
felt in the coal trade and any combination was i'll
timed. During the early months OF the year. when
business was little feeble some stimulus was nec-
essary, and 1t would then have been advisable to
combine. gaMf 38f
very mild winter this year?"
yes, tho indications all that way" t5ssr,tf
swell. it is claimed in certain quarters that small
winter season. makes combination at this time
sential-
but what will be lost in domestic consumption will
be more than compensated for in other direc-
tions. The falling off in domestic consump-
ton is insignificant when compared with
the generally increased demand for coal from
large manufacturers of iron and other
articles OF trade. The demand in this direction has
during the coming year 1t will recoup what it has
been gradually losing tor so long time. You can
easily that trade with such natural stimulus
as this needs no combination to bolster 1t up"
.'The Indicator tape announces that tho terms of
the agreement are favorable to the Lehigh Valley
Company that there is no doubt about the sgning?"
well. l cannot speak anthoritatively for tho
Lehgn Company. but am positive that it will not
be signed. AS said before, my opinion Is that all
this talk is for effect the market. 1t has already
had effect, see. and suppose the intention
is to continue the talk"
These views Of Mr.. Packer shared in by some
of the Oldest and most conservative in the coal
trade The dickering with the stock market is gen.
orally deprecated, and it Is claimed that the coal
trade should be allowed. without these intermittent
excitements. to reap the benefit of normal inn
provement. When values are arbitrarily forced up
and down to suit this that corporation. distrust
and feversh speculation take the place OF confidence
and legitimate trade.
,-,,t 80 ADVANCING THE PRICE OF COAL.
Some of the companies have already advanced the
prices Of coal and issued circulars to that effect.
The advance was made yesterday ny the Delaware.
Lackawanna and Western Railroad Company and by
the Lehigh ana Wilkesbarre Coal Comp my, and
at the rate OF twenty-five cents per ton. The fol-
Per Tom
Lump. steamboat and crate. 40
Egg .......................... oO
stove. .............. 20
The Philadelphia and Reading Railroad Company
is reported to have made the same advance. In adj
dition the Lykens Valley Coal Company has adj
yanced Its prices fifty cents per ton stove. egg
and lump and twenty five cents per ton chestnut,
and its agents here are restricted from selling the
cDa uf nj ha f1Ina of