New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-04-13
I COAL AND IRON Z
! REMARKABLE CHANCES OF PRICE.


refer to the recent striking change In the prices
of coal and iron. Coal has risen hundred pei
cent within elk months, and is likely to rule
high fot six months longer. The operators say
that they had to sell for less than first cost last
year. The price of iron has, on the other hand
fallen of from s. to So q ton, restoring to the
market health and vigor.
DEAR FUEL IN VIEW FOR THIS SUMNER.
AN ADVANCE OF NEARLY A HUNDRED PER CENT IN
Elk moSTHs-pETERMISATIoN OF THE COAL
s, COMPANIES TO CROWD THE PRICE up Still
ppRrfrRR-LossEs IN THE PAST YEAR-ARGU
MENTs FOR HIGH RATES
'IFRoM AsTAYF coRREsPoNDysr OF THE TRIBUNE.I
PHILADELPHIA, April 0.-Last September the
Wholesale priee Of broken coal ct tide-water was
So ION egg coal selling OF 81 TO- and stove at
90 80. In October the great anthracite companies
began q concerted movement to advance rates, and
they have pushed them up pretty steadily since
until they have put broken coal, the size chiefly
used In manufacturing. up TO So 65. Another ad-
vance will be made the middle OF the month, and
still another may be looked for the LIST Of May. By
that time the rate will probably reach Sd, or just
double the figure which ruled when the upward
movement began Everybody who consumes
anthracite In furnace. factory or household fire Is
interested In knowing the for this remarka-
bic riss in one Of the prime necessaries OF life
Tins fact is my excuse II one Is needed, for letter
devoted to the question.
The coal operators say that the rates OF six months
ago were runous, and that they lost money heavily
on the years business. They declare that they gave
their coal away. and paid the public for taking 1t
that to say they got nothing for the coal in the
ground and delivered it to consumers at price be-
low the cost OF mining and transportation. When
asked why they kept on selling their product for
less than 1t cost them they reply that the ieaouses
Of the five great companies reached such o pitch
that each was willing TO pocket a heavy loss pro-
vding it could infllct greater one of its
rivals. 1.-The quarrel was as ridiculous and as
fisrcen says heavy Lchigh operator, as that Of
lot Of old women at tea party" An operator in
the Scnuylkill region tells me that 1t cost
the anthracite trade at least $30,0000OO. After
tho companies got tired of this expensive cOntro-
yersy they began to be eager to save their wounds
with some substantial profits, and so. without any
treaty of peace they ceased cutting under each
other In prices and began last Fall to make eau
tOus and gradual advances When ono company
put up the price ten fifteen cents the others fol-
lowed. until in the Of the Winter 1t became
understood among them that tho forward move
'ment should be continued from month to month.
The Philadelphia aud Reading Coal and Iron Com
pauy, which 10 the heaviest operator and is the
Reading Railroad under another name, leads the
way. Its officers say they expect to push on until
The minimum wholesale price is S.. The iron men,
they say, have put up their product from SIG ton
$40 the print men. who used to sell their caicOes
ut 8 cents a yard are getting cents. and almost
every branch of manufacturing industry has
advanced its prices heavily why then should not
the coal men, who have suffered heavy losses make
some money this year as we'll as other peoples The
L. Lx~x1 koAsn
rate from the mines to tidewater from 80 per cent
of the shipping price to 42l2 per cont. Wages and
ell other items In the cost of mining have increased
The demand for coal is much brisker than 1t was
last year owing to the activity in tho iron industry
and In general manufacturing. Thus the state OF
the market warrants an advance. while the coEdi-
ton OF the coal companies and their losses in the
past two make it imperative necessity that
they shall enforce one.
exaggerate when they say they sold their coal last
year for considerably less than first cost Even
with the lower rates Of wages that then ruled, an
Richmond or HobOken for 50 or So 25 a ton and
pay interest the capital invested in mining 1t and
operators. very favoraby situated for getting their
coal out and transporting it to trunk line, and
owning the land. may have made little money.
not reasonably complain of an advance in prices to
point that will make the business profitable. but
1t can justly protest against combination to force
up rates to such point as to enable the companies
to recover IN years business their losses Of the
past two years Producers have no right to make
consumers smart for their own folly. The
coal companies choose to, waste millions in
trying to cut each others threats, and J
now they want to take the money out Of the pock-
cts of the public. Probably the present price jus
tilted by the demand the cost Of production and the
charges of the transportation lines. but further
advance to IS would be extortionate.. heavy |
operator In the Lehigh region whose information |
have found In times past to be trustworthy, fur
nishes the following statement OF the cost of ton
OF coal at tlde-water: Royalty. 80 cents; mining,
81 lateral railroad tolls to Mauoh Chunk, 90 cents;
tolls to tide % cost Of selling 10 cents total
$S 46. A selling price of 81, giving the operators
profit OF about 90 cents. he thinks not be IN;
reasonable but he opposes an attempt to go beyond
figure that yields iine margin of profit. believing
that an exorbitant rate could not be main aimed |
long, and that the end would be underseng, |
jea0usies, hostilites and resumption of the cut
throat policy Of 1873 and 1879.
One thing looks Bankruptcies will be no lower |
Tor the next six eight months than they now are.
Consumers NAV lay aside all hope Of return to the
low rates of last Summer and Fall. venture to |
say: after examining the situation pretty closely,
that the man who now lays In years stock Of fuel
high though the prices seem in comparison with |
those charged few months ago, will make mis- |