Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-22
TO BREAK THE POOL.
A Stormy Meeting of the Pittsburg
and Southern Coal Company.
THE SYNDICATE WILL DISBAND.
Electricians Dissatisfied at the Settlement
of the Strike.
WILL THE SKATERS LEAVE THE F. OF L2

A special meeting of the Pittsbur6 and
Southern Coal Company was held yesterday
in their Offices in the Iron Exchange. The
meeting was a gathering of the stockholders,
and it was the liveliest one held in the ex-
change. Everybody was excited, and one
of the stockholders and members of the
company, Mr.. William Rodgers, left the
meeting in an angry mood before it was half
through. Why he left he would not say,
but judging from his actions something i'm
portant had ruffied his temper.
The object OF the meeting was to take
action toward winding up the affairs of the
corporation and cease doing business as an
organized company. AS one of the opera
tors remarked who was at the meeting, that
the company had gone up the spout" They
have about 900 bushels of coal on hand,
and as soon as this is disposed of the company
will disband.
The cause of the dissolution is because of too
many inimical interests in the company. The
company is composed of ID of the most promi-
nent coal operators on the Monongahela river.
The firms represented are as follows:
Joseph Walton & Co., John A. Wood & Co.,
O'Neii & Co., Horner & Roberts, William
Rodgers, Lylse & Sons, Fawcett Co., Mar
NETT & Co.. Charles lutte, J. S. Neal, s. S.
Crump. ]. NJ. Risher and W. H. Brown Sons.
TO PREVENT CUTTING.
The company was organized over three years
ago for the purpose of preventing ruinous COM
petition and the betterment Of the business.
The company was chartered under the laws of
Virginia, with capital stock of 100000 which
has been paid up. Each 1rm in the combina-
tion sold his coal to the company, and the lat
ter sold it in New Orleans. Nothing was sent
Al of = %l,o
gigantic operations of the concern they practi-
cally had no competition in the New Orleans
market. The coal was sold to the best advant-
age and each firm got its pro rata share OF the
earnings each month.
The demand for coal by the ocean steamers
at New Orleans has been unusually light this
winter and the past fall The company now
has l60 some boatloads of coal in the New
Orleans harbor, and there is no immediate
prospect of getting rid of it. There are about
100000 bushels altogether. and number Of
those in the company would like TO see it dis
posed of at once. The coal is worth "a or Is
cents per barrel.
For the past few months there have been so
many conflicting interests in the company that
considerable trouble was caused, ana it was
decided to quit doing business. The board Of
directors mfet every morning, but have been
unable to devise ways and means to wind up
the concerTs The stockholders meeting was
called tor this purpose. but they could see no
tangible way out of the dilemma.
SENDING NO COAL.
The coal is there but they cannot dispose Of
it advantageously, ard every run adds to the
number of boats. 1t is probable that no more
coal will be sent South by the company, and as
soon as they dispose of what they have on hand
they will quit.
Although every firm in the combination, with
the exception of Rishers', was represented at
the meeting, and as everybody was excited
they would give but little information for pub
lication. Although the company is pool the
operators claim that theiI business is as private
as any small firm, and would say nothing.
Captain 0'Neil when asked if the company had
wound up its affairs said:
mo, we have not done so yet, but we are
working to that end. l think after we have
held few more meetings we will quit doing
business"
The other operators evaded the subject when
questioned about the meeting. 1t will be re-
membered that the company lost about S450 900
by the sinking of l60 boats loaded with coal at
New Orleans, August Is, 1855 The coal was
sunk in a hurricane, and part of it was reeov-
cred. The company stood this loss bravely,
but is without doubt on the verge of dissolu-
tion now. The board of directors will hold an
other meeting this morning.