Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-10-27
A COAL COMBINATION
To Control the Trade in Pittsburg
and Neighboring Towns.
MEETING OF THE COAL EXCHANGE.
No Change in the Situation at the Law
renceville Mills.
NEWS OF THE GREAT LABOR WORLD

While the coal miners strike is occupy
ing the attention of the coal operators they
are taking advantage of tine present lull In
business and making the most OF the shut
down. The end of the strike they consider
as not far of. This has led the operators
to unite more closely, as wnen they went
into the present struggle they agreed to
stand together to the end, and the progress
made so far has met their expectation.
Thinking that by uniting to control the
local coal market would prove as
advantageous, scheme has been
put on foot that promises to result
in gigantic combine of ali the towboat
owners and coal operators in Pittsburg and
along the Monongahela river This move
has been under advisement for some time,
but it is only within the past few days tnat
much interest has been manifested or any
steps taken to unite all the coal interests.
For the past week, however, secret meet
ings of the leading coal operators have been
held daily in the Coal Exchange building,
and the organization is now almost COM
plete.
Millions to Be Invested.
1t is understood that S4OO, 900 will be the
incorporated capital, and that all the coal
companies will 60 into the combine. Sew
eral of the smaller concerns still refuse to
cast their lot with the new syndicate, but
liberal offers have been made and all who
| refuse to unite will be bought out so that
| the syndicate will have no independent
| companies to cut their rates.
The intention is to have complete mo-
nopoly of the coal trade in Pittsburg, Alle-
gheny, Homestead and McKeesport and all
the towns along the Ohio river as far down
as East Liverpool, and up the Monongahela
and Youghiogheny rivers to the head
of navigation. The plans are be-
ing carefully laid and a compact
organization perfected. At the meet
ing Yesterday afternoon much pro-
gress was made, and before the end of the
week it is thought the organization Will
have been completed.
f. NJ. jenkins, of the firm OF T. M.
Jenkins & Co., whom 1t is rumored will be
the President of the new syndicate, was
seen Yesterday. When the subject was mem
toned, he was inclined to keep the matter
| secret, He admitted that such a move was
| on foot, but that the deal was not far enough
along to have made an application tor
charter. Continuing, he said: ut Is
repetition of what has been tried heretofore
several times, but without success About
| . y
formed. The companies refused to live up
to the agreement, and after struggling along
for about six months it was disbanded.
Guided by Past Experience.
1--WE have the past experience to guide
us in this undertaking and the former mis-
takes need not be repeated. The COM
pauies represent so many interests that it is
next to impossible to get them to work to-
\ pether harmoniously.
ssThe competition of the railroads has
driven us to this and We will unite, provid'
ing we can get all the companies to come
into the new syndicate. Several Of them
are obiecting, and say they would sooner DC
business on an independent basis. ]
will not say what the incorporated capi
tai will be, as various sums have
been suggested. and there were some differ
ences of opinion on this point. When the
new company has been formed, its trade
will be confined to the local markets. Their,
has been too much cutting Of rates among
tine towboat and coal companies that nont
can make money, SO that something will
have to be done. Each company is SO jeal
Gus of every other that one will no: make
known it's rates to the other. The interested
parties are in earnest, and it now looks Ik'
ago.. -,
most interested are T. M. jenkins & Co
and Charles Jutte & Co., These concern
control and own most Of the boats and d
5 the bulk of the towboat coal business il
: and around Pittsburg There are about
, | other coal companies that supply the loca
| river trade, but their sbusiness is scattered
| and each one does business on muc
smaller scale. 1t is said the amount @
stock has already been decided upon, an
each company has subscribed tor shares