The Providence news. (Providence [R.I.]) 1891-1906, 1892-10-31
The BIG READING DEAL
How Will it Benefit the New York
and New England Road.
MATTHEW MARSHALL'S" IDEA.
The Possibility OF an Advance In the
Price of Coal the Only Hops for Profit
to tho New York and New England
Company.

:Matthew Marshall" the financial
writer for the New York Sun. thus ex-
amines the question OF the benefit of the
latest railroad deal To the New York and
New England railroad:
Precisely how the New York and New
England company is to be benefited by
the deal is not apparent, and il the price
of the companv's stock is a criterion of
public opinion. the benefit is not now sup
posed to be so great as some persons evil
IDENTIFY. at one time, expected IL 10 be.
All along the coast of New England,
and for a distance of sixty miles or so in
land, the price OF water transportation
FOR the mineral controls that Of the rail-
roads, aud no railroad combination can
successfully contend against the propell
ers and schooners now engaged in the
business. Northern New England is oc-
cupied by the railroads. affiliated with
the Delaware and Hudson Canal Com
pany. and is furnished with coal by the
way of Trov. This leaves a field for coal
supply for the New York and New Eng
lynd railroad and its connections, only
the intermediate zone living between that
on the coast and that on the north. and
ex ending as far as, say TO within sixty
miles of Boston aud PROVIDENCE.
That hitherto the coal transportation
within this territory has not been profita-
BILE to the New York g. New England
road is not disputed, and an improve
ment i'm IL is expected TO come entirely
from the better facilities TO be furnished
by the Poughkeepsie bridge, aud from
the special favors to be granted by the
| Reading Company.
What increase OF earnings from coal
| carriage the New York q New England
road derives by virtue of its new connsc-
,tth h. 10 luip
| be the result either of an increase OF the
| quantity carried or of an increased spare
| of profit allowed it out of the total rates
| from the mines.
An increase OF total rates is not posi-
BILE. because that would narrow the field
| OF operations bv encouraging the en-
| encroachmeut OF competing carriers
| An increase of the quantity trans
! uortet cannot be expected immedi
| ately, but will require time for its devel-
opment.
| Unless, therefore. the managers of tn,
Reading Company magDanimously allow
the New York and New Eagland IA larger
per centage of the freight on coal from it
| mines than il has hitherto had 1t will gaiI
nothing AT present by the change iu It's
| ownership. OF the probability OK such
action by the Reading every one mus
Judge for himself.
There remains, to be sure, the possi
bility of an advance in the price OF Goa
which will yield sufficient profit upol
it TO justify the Reading Company il
allotting larger sum to freight than i
has don. heretofore, and out Of this large
allotment to apportion TO the New YorI
and New England Company shar
which will enable it TO pay small divi
dends on it's stock.
This, while 1t would diminish the ne
earnings of the Reading Company direct
| ly, would return to il something upo
the New York and New England stoc
held by it or in its behalf
2Oc., SOC. and 4Oc. Papers for 15s
| Per LIB.
To close out odd lots of Writing PAPER we on'
them at 15c. per ID, lbs. for 80 cents This Is
bargain for some one. First come. first served.
| WM. X. POTTER