The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1892-07-08


heading has only foilowet the policy Of
nitler corporations, = policy made ntces-
sBry by the stupandfus growth OF the
'ountry and dtstinclly author. re and
~encouraged by the stai ,ites OF every State
iu tile Union, though long collected by
this com tnv fr3M causes which see red
to be beyond the control OF Its manage-
ment.'
PURPOSES OF THE COMBINE.
Mr.. Mcleod iurthtr outlines The pur-
poses of The corpora!i III as fDli VS.
"The ReHding system prut,osestp its II
n tvofold hu'y. 1t will bring tine pre-
ducts of its tsrritory.-coal Amoug the
rest-home to the consumer upon snrer
and ct er terms and to the manifoid in
dusir.eS along its varions liues the raw
material and supplies which enter into
their produtt..A IL will assure t. the
thousands of Investors Ia tile RI aiing
securities their updouhted i9gtit to some
return for The money invt stet. In this
will be fonud a complete explanation of
the motives OF the managenrenL in lego
tiating The leases. It Is a mistake to sup
pose that there is, or has been recently,
any m terial or substantial competition
betM cen The transportation lines us to
the carriage Ut Anthracite coal: the car
rying OF the coal from the various mines
ana from the various regions is
mainly determine by the ownerahips or
controt of the lands or by the necessities
imposed by geographical location. Cor
puratiots have Teen formed acquiring the
coal lands These corporations, acting
under existing laws, obtained their prop
critics aud hold them by the tenure of
law. AThey are as much the possession of
their owners as a government bond oethe
homestead d. Ell. The corporations as
coal mine owners are in close relations
with the Reading Il other
AS a consequence. the competition about
which so much Is written is between in
uividua s aud corporations producing and
selling coal, and not between the trans
portatiou companies carrying the cal to
the market. This condition is in no wise
altered by the Reading leases. The sames
mines are tributary to the s time railroads
as before; each line serves the same mar
kets, ana neither line gains nor loses a
ton of anthracite traffic as a consequence
or our transportation arrangements n Y
ECONOMY IN PRODUCTION.
ECONOMY in pr duction must be OBJ
served by improved methods, and in the
unific itioa and strengthening of indus
trial processes we have a more prudent,
practical aud economical system of min
ing, enhancing the security of the in
vestors IN coal properties, promoting the
comfort and assuring the more, regular
employment of the laborer. and ali ulti-
mately inuring TO the benefit Of the con-
sumner of coal, # not in the lowering of
prices. when they are already too low
considering the cost of production. at
least in the way of continuing the supply
at moderate prices. PENNSYLVANIA has
special concern In this as so many of her
Industries depend upon anthracite coal.
These vast AMI necessary institutions are
concerned III its managem ent. This can
best come from the economies, the uni
fication of service implied in the Reading
consolidation rs to the matter of trans
portation, nnd from the new arrange
ments entered into by the coal pro.
0ucers. \ u \ n
SUPPLY AND DEMAND.
"Over production has been the bane of
all industry. The recurring periods of
ruin and depression which have swept
over the country have been invariably ac-
c~ompanied by the continued production
of some important article of commerce
beyond the requirements. OF the marke',
whether Of cotton and corn, the products
of the soil, or the iron and copper and
silver from our mines. The same inexor-
able law applies 10 anthracite coal.
Nature has imposed peculiar and unusual
limitations upon the production and con-
sum plton of al tBracite. These limita-
tions govern and control both supply and
demand, and must be recognized, either
willingly nFunwillinGly. by allcoucerned.
For a brief season in each year the
Requirements of the markets of the
country absorb for consumption
upward of tour millions of tons per
Month for q few months, or at the aggre-
gate ra e of about fifty millions of tons
per annum; whereas the aggregate con-
sumption scarcely exceeds the rate of
forty millions of toEs per year. To sup
ply the extraordinary demands of the
fail season, the great producing compan-