New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-02-09
IRON IND COIL.

II pleases the financial graybacks in Wall
Street whenever the coal and the iron trades
come to grief That ill-omened pleasure they
have had for long time past while laborers
and miners by the thousand have been suffer
ing. But now there are signs of a better day.
The long depression of prices gives place to a
slight Improvement already. The Thomas Iron
COMPANY. which led in the reduction of prices
has already made one advance; there is a slow
but sure increase in the demand and prices of
coal are CORRESPONDENCE hardening as the out
put begins to exceed expectations without in
creasing stocks in the market The attempt to
explain away these favorable signs is not sur
p1ising There is class of men who never
open their ears to any news that is not dismal.
But it is well that the public should see facts
inst as they are, The "5ulls and the bears"
who toss and tear each other when they can,
have small respect for the interests OF the peO-
pie, and therefore the people need to know the
facts so that they can look out for themselves.
1t is fact that the iron business, after q
period of great depression, begins to improve.
1t is also fact that, in spite OF the depression
in iron manufacture, the other demand for coal
mas so greatly increased that the output OF
anthracite last year was over 100000 tons
larger than ever before. Yet there were 1G2
anthracite iron furnaces in blast at the end of
1879, and only Is at the end Of 1882 This
shows tremendous increase in the demand for
other purposes, and since the extension OF the
Lackawanna has given it better facilities for
shipment to Buffalo and the West, those ship
ments have increased to g 200 600 tons last year.
The Reading, too, has increased its output very
greatly, though data rs to its westward ship
ments are not yet at hand. Owing to the de
velopment of domestic and miscellaneous de-
maud the coal trade is said by experts to have
been in better condition in 1888 than ever be-
fore, and the harmony Of action among the
companies still continues That the accrumg
profits to the coal roads ard companies have
been very large the public already knows, but
it is stated that official reports soon to be made
public will show larger net profits than have
been expected even by persons unusually well
informed
AS carriers, the coal roads have improved
their position materially. The recovery of the
Reading has been called surprising, but it is
not to be forgotten that the property was of
enormous value, and that the union with the
jersey Central has been advantageous to both.
The Buffalo outlet, too, brings large and
growing trade. The Lackawanna has been as
sailed because of its Buffalo extension, but the
official accounts show that this same extension
has paid net profits Of about 100000 above
all charges and taxes. 1t has enabled the COM
pany to secure share of through trunk line
traffic which the arbitration is to fix, and has
added enough to the business OF the Morris and
Essex TO make that road also return profits
above all charges. AS for the other coal COM
panies, they have been too strong at all times
for the most reckless wrecller to aSsail. But if,
with these improvements the companies have
done remarkably well in spite of the prOstra
ton in iron, what Is to be expected when that
manufacture resumes its normal activity
The public has some reason to look upon the
coal companies with favor. They have not
been managed by men who have wrecked them
TO suit speculative interests. Nor have these
roads been engaged in cutting each others
Threats, as some have. They are inscparably
connected with the most important industries
of the country, and have been built up with
unusual foresight, so that they now own sub
stanGaly the only supply OF anthracite in the
| land. These acres, for which hundreds of dol
| lars were paid long ago, are now worth thou
sands what will they he worth in the future
| Lines of travel may change, but this Nation is
going to need coal and iron, and the means of
getting at them, as long as grass grows or water
runs. The unhappy man who thinks that the
Nation is going to the dogs that iron is "played
out" and that coal lands are worthless, has a
| bad half hour ahead somewhere.
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| pPOTECTJON CIT4fSTJY DISC USED.