The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1892-04-29

Tue RAILROAD ana coal Duslness Will " buhpou
for general benefit. Mr. Mcleod said that
coal cannot continue to be sold ct present
prices at points long distances from the
mines without impoverishing everybody
concerned in the business and causing
general reduction of wages. The capital,
resources and labor are now taxed as mat
ters now stand, he said in order that distant
points may be supplied at less than bare
cost, while our own consumers along the
line of the road necessarily pay the prices
required to keep the business moving. To
meet this situation, and TO provide the
natural remedy, the principal mining and
transportation companies have come to-
gether, and propose to supplant spirit of
undue and perhaps unfriendly competition
by harmonious action and to endeavor to
establish and maintain fair and equitable
rates and prices at all points which have a
just and proper relation in respect to the
services rendered.
In connection with what has been said
and written concerning the reduction of
train service and the discharge of employees
on the lines, Mr.. Mcleod said they were
exaggerated The restriction of produc-
tion, he said, means fewer trains, and con-
sequently the suspension of large number
of men until there is demand for coal and
the mines are again working on tull time
Speaking further in connection with the re-
duction of the force of employees the presi-
dent said the public should not lose sight Of
the fact that it is necessary incident, if not
one of the objects of such alliances as we
have formed, that many practical business
economics can be effected, and that the un.
necessary duplication of oiHccs and officers
and salaries and supernumeraries Of vsri-
ous kinds can be done away with. This is
now being accomplished in measure, but
nothing more. Such economies invariably
produce better service at a lower cost to the
patrons of the road.
Speaking on the purpose of the alliance
President Mcleod said 1.-THE impression
seems TO prevail that the alliance of these
roads was formed solely for the purpose of
controlling the anthracite coal trade, but
involved. 1t was of the most vital con-
sequence to each and all of these lines to
| be placed in position to meet the compe-
tition of the great trunk lines in every re-
spect. Having attained this position, it
will be policy to give the public the most
prompt and efficient service at as low rates
ss are compatible with the service re-
quired, and at the same time, to provide
for the Readings stockholders, who have
waited for many years for some return
upon their investment, some adequate
compensation for the delay. The Reading
is naturally enough the parent of the coal
trade. For many years she has carried an
investment of upward of $4,000 900 at
high rates of interest without any return
This burden, accompanied by lack of
proper and timely development of her un-
paralleled resources, has stood in the way
of her assuming her proper and natural
position in the trade. Her resources have
always been sufficient to warrant the pay.
ment of dividends on her stock, but they
hsVe been permitted to lie dormant while
others have usurped the place belonging to
her by right of priority in the field. Now
that the depletion of the coal estates has
reached the point where her residuum
must soon be called upon to furnish ton
mage not only for her OVID but to other
lines, it is both natural and proper that
she should take the initiative and exert a
greater influence in the conduct of the
business"