The times. [volume] (Richmond, Va.) 1890-1903, 1892-11-26
THE RE1DING cor COMBINE.
The Congression Committee Begins its
Investigation.

NEW YORK. Nov. 25.-The congress
sicnal committee which is to investigate
the Reading coal Combine" began its
work. after several postponements. this
morning. All the members OF the COM
mittee. except John Lind Of Minnesota.
were present. Chairman William J.
Cooms presided.
The first Witness called was President
! Mcleod.
Mr.. Mcleod testified that In addition 10
being president Of the Reading railroad.
he was also president of the Philadelphia
and Reading Coal AMI Iron Company.
capitalized AZ 5000 000.
Before proceeding further Mr.. Reach
offered in evidence a statement made In a
suit OF the Commonwealth Of Pennsyl-
vania against the Reading railroad and
the coal and iron companies. Mr.. Mcleod
examined the statement. He said that
the total number Of acres Ct coal land
controlled by the Reading through the
Coal and Iron Company was 1897. two
thirds OF it unimprov ID
Leases Of lines OF the Lehigh Valley
railroad and the Genital railroad OF Now
Jersey TO the Reading dated February
II and l.. 1892. were offered in evidence
by Mr.. Beach. the counsel for the com
mttce.
Mr.. Mcleod admitted that since these
dates contracts had been made by the
Reading with individual operators along
the lines mentioned to pay 60 per cent. Of
prices realized for coal
Mr. Mcleod said that at a meeting held
either I'm June or July, prices Of coal
were fixed. and they were I'm advance Of
those prevailing previously. There had
been no advance i'm prices since July.
Mr.. Mcleod said he would give the COM
mittee the number OF independent indivi-
dual coal operators along the line Of the
Philadelphia and Reading railroad at the
time the deal took effect, and the num-
Der at present. and also the number Of
tons produced by the individual operators
then and now.
Mr.. Mcleod said that the total output Of
anthracite coal from the Pennsylvania
region Is about forty million tons yearly,
although the mines are capable of turn
ing out 55,OOO.000 and $1,000 900 tons. They
refrained from the maximum output for
fear Of overstocking the market and the
resulting reduction in prices.
Witness denied that the railroad COM
panies In any way regulated that output.
He was further questioned on this sub
ject and admitted that his own, and he
believed many other roads, either owned
or leased the majority Of the anthracite
mines. and practically carried their own
always insisting though that this was
only done through the ownership by the
railroad companies Of the stock Of the
collieries.
The question Of rates charged by the
Philadelphia and Reading road for carry
ing anthracite coal, witness said was
nine mills per tons a mile, and for
bituminous six mills mile. Mr.. Mcleod
was then excused.
Vice-President Maxwell, OF the New
Jersey Central. was then called. but was
excused In a few minutes.
The committee, after a short private
adjourned until tomorrow.
Hon. George ID. Wise Of Virginia, OF |
the committee investigating the Reading
Coal Trust. was seen by reporter OF the |
United Press regarding an extra session |
Of Congress. Il am opposed 10 an extra |
session." said the Virginia Congressman. |
''and l think this sentiment prevails gem
orally among my constituents and the |
leading Democrats OF my State. / agree |
With Senator Vest. who said the Demo- |
cratic party does not propose TO make
cavalry charge on the tariff"