, 1881-08-28
The Two characteristics Of the Coal
Ring Which Is Daily Tightan-
ing the Screws.
L Thorough Showing-Up Of Gigantic.
Cola-Blooded, Remorseless
SWinlle. y.
A Ring Of Coal Operators and. Railroad
Sharks Ruling Prices with an
Iron Hand.
Prospects Of another Coal.Famine aud an On
limited Succession of ''Eaises."

sumption that every change in price or pro
duction is watched with natural interest b.
the millions Of consumers who are depe1iden
on it for fuel. For this reason the fact whicl
has become patent to careful observers, tha
there is some strange move being mad
i'll the coal markets, Of the country
is Of paramount interest to countless people
Il rise In the price Of coal means an increasct
cost Of living to: thousands Of rich people ari
millions Of poor ones. To furnish the read
ers Of THE TRIBUNE with the facts in tfe
case, and to present compactty the most ri
liable information on this point, reporter
was detailed yesterday to make thorough
investigation and make known such results
as would be Of interest to the public. "Uncle'
Rufus Hatch, In one OF his many interview.
ing moods, gave it rs his opinion that eacl
line Of business WAS destined to be ulti1natel,
controlled by one man, and thai
Jay Gould would control all of these consol-
| idatlons. That this tendency to monopoly
has grown up to an alarming extent in the Goa
trade is what the reporters Investigations
tended to show, coupled with a further cause
for fear it that the coal consumers Of the
country are
| AT THE MERCY OF 4 COMBINATION
which at no distant day will be prepared to
| squeeze up prices TO almost any extent
| While the coal resources of the country are
! practically unlimited and inexhaustible, it
| seems to be certain that they have fallen into
| the hands OF clique Of srecuIators who will
| ultimately control the market, and derive
an immense, but iIlegltimate, profit from the
necessities OF the public.
| The present price Of coal is S7.5097..J for
| the different sizes, these figures having been
late Tx hfa -
| ago. A year ago the figures were SG.75G1
| 200 at the same time OF year, and in July
two years ago coal was currently quoted at
| S4.00G4.50- This shows that the price Of
a steadily-inrreasing ratio. As compared
with last year, the receipts of anthracite
for the period from May to Aug. show an
increase Of 69,5l1 tons over the corresponding
period in last year. Owing to the scant sup
ply in the early part Of the year; it is esti-
mated that the present stock falls short Of
that on hand at the corresponding time last
year by fully 100000 tons.
Lake freishts have advanced from IS cents
per net ton, in April,. 1850, 10 Sl.2o at the
as the advance Of 10 cents per ton for the
short distance from the coal regions to Buff
falo, where
TIE RAILROADS ARE IN TIE COMBINATION
controlling the market.
These are the figures referred to by the coal
men to show the business OF the advance, but
it will be seen subsequently that the advance
is mainly fictitious, and that the public is
being Systematically swinaled by gigantic
monopoly.
The Coal Exchange met yesterday after
noonat the Grand Pacific Hotel, but rs there
were only haff-a-dozen present. nothing was
done, and the current price will remain fixed,
probably until the middle of next month.
That the action Of the dealer. here has but
little to 10 with these steady advances is
vanced to him by the combination, and he
makes asmuch money Or low rates as on
high figures. 1t is asserted on good author
ity that i'll the past seven years e-half Of
those who embarked their capital and credit
in the business have been unsuccessful. Six
years ago there were forty-seyen members
Of the Exchange, and only those were ad-
nirted vino handled coal by the cargo.
Inside of two years twenty. Of
t these WERE forced to wind up their r. business: RS
brokerage business only, buying Of the heavy
jobbers at :: uniform discount Of 81 from the
market prices, and realizing rs much on any
scale Of prices. Now the larger dealers are
the power of the combination ruling prices
and transportation, and absolutely
REGULATING THE PRICE HY CUTTING OFF
THE SUPPLY.
To-day many of the mines are working on
half-time, iii spite of the short stock and the
booming market
The Immediate prospect for further rise
in the price OF coal was the first object Of
Investigation, aud with that end III view the
reporter called on few representative coal
men and solicited their views on the subject.
Mr.. William F. johnson, the President of
the Coal Exchange, was asked for his Opin-
ion as to tile probability of an advance, and
replied rs follows:
II DO not anticipate any very high prices.
It will depend, Of course, very much on
what Sind Of winter we are going to have.
as high as $40 or Sl2, as some people fear. |
hardly think that it will go much over S. It |
possibly may be squeezed up to $50. 1t IS !
now firm because Of the uncertainty OF |
freiglf rs t1s season Is eai!y over
feet it. It is always regulated in price by |
the supply and demand. There is 4 fair stock |
now on hand. and rates have dropped 1T !
cents, to sligo per ton from Buffalo. Tie |
ways regulated BY the car coal, which comes
i'll varying quantities. The railroads will |
bring it
WHENEVER 1r PATS THEM
to do so. Consumers in Chicago need have |
10 fear Of any serious advance in the price !
Of coal during the coming Season.
This view Of the situation was also shared !
in By. Mr.. Miner T. Ames, who did not be-
lleye in an advance, and thought that the top |
notch had about been reached:
On the other hand, Mr.. G. n. Dyer took
sf Rsteoeg 9egost Of vic" 6fsFo monopoS {o ds
dealers. In reply to question rs to what
prices would be this winter, Alr. Dyer said;
Il Can you tell me what the thermometer will
fue M to the increased rates Of freight. Why,
lake freights have fallen to S1.W since the
last meeting Of the Exchange. There is a
Which makes the rates. tits