New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-03-01
IGNORANCE ABOUT COAL.
HARD WORK GETTING INFORMATION.
WORK or THE SENATE COMMITTEE on THE
rFCrX.r pr ,nING DEAL.


RECENT READING DEAL.
The COMMITTEES appointed Iy the state senate to IN
vesticatc the Reading and Lchch Nahey 'o'l coi'
bination held its first session for the eNh'"'''o" VI
witnesses Yesterday at the Iiotel Metropoie mum
hcr M Witnesses were examined but almosi nothing OF
inheritance was developed. Some railway mon hhu
most renarkabl, ignorance OF everything r'h'"hs "
coal. senator Mcmahon was the Only hcI'' VI '"0
committee present ut IL ocloch @cha'oi Erwin '''o
in half an hour late. and the examination WIS pcsui'
senator Cantor appeared soon afterwaId D"hei W.
Griffin. OF WATERFOWL, %td ~ eo""'N' " ~
mittoe. , s,,
The first witness called was President samuel Hi"'h,
Of the Delaware. Lackawanna ana western h"iroi'
Company. Mr. olOnn said that the la'' ''""i CIV
on of directors Of the company took place lew dnyS
ago All the Old directors were lce!co'c" ny
Russell sage aud sidney Dillon, WHOSE pia'eS We
taken bv j. Rogers Maxwell and George r. b''hcr'
t, ., whom were heavily interested In the railroad
os we'll A. I'm the Central Railroad Of New-JerseS' WI.
pker had asked that they be represented In the poa
in view Of their large holdings, and the cmnso ""'
made with the consent of Mr.. DiIoh ana MI e
Tho, were the only officers Of that company VINO "ee
connected with the Philadelphia ana Kead'hs y. ''o
Icrsev Central Mr. sloan added that he hlniscn VIVID
elected director OF the Jersey Central week ago.
I'M, had attended no meeting. lie was eieclea WIZ"
an, his solicitation and he had no motive for goihs
into the board lie had owned 100 shares Vi 'e'''s
Central stock for many years. lie MIC" "o ~
about the Reading Contra; coal deal thah ne re"i "
the newspapers, but he thought there muS' o0 ''@
thing in it, ,.o rocr,.
T. II Holden vice president Of the Delaware Lac"
wanna and Western and manager OF Its coal Ira",c'
w 49,, nav, witness In answer to Mr.. Grifin, ne
aid that the Iackawanna and Lchigh Valley had Dcci
moderltc competitors for the coal trade Oh ""s ~
aver since the roads built. The Lemgh Na"es
had mn entry into Buffalo over the Erie uhu T" Dun.
us line from Geneva to Buffalo. Tile Witness 'ou''
not understand why the Lehigh Valley ever buit 1hc
| line When asked What his company might uo III
.ee NJ a consolidation Of the coal Interests nc oc
cuned 10 express an opinion So far as ne Rhe"' MS
connony had not considered the price OF coal Ill Vic"
of the combination. ..
The price Of coal in any place depended on numerous
conditions selling coal was just Ike scihhg ho''''
| senator Erwin then attempted to learn NO" t"o pr.
NJ coal varied at different places and at dihcreh' uo'
hut no did not succeed. cant you give us some
f,cts - he said. Yon talk ell philosophy WIN
| 10 know how you settle the question OF piice'
~ Won come down to my Office to buy some coal
will tell YOU all can about It, Mr. hoiueh h's"'
When pressed for a revelation Of his me'Hous. "o ~
h must consult with counsel before entering mo
the details 81 a mercantile business lie hau ho''ns
to conceal but doubted the propyety OF going I'M"
tho subject lie would say that in general the prices
r. mt a. high AS the conditions Of the demand ana
competition would allow.
The standard price for the state OF New iorh M"'
fixed at a meeting Of producers ana carriers i"'
principa factors were the Philadelphia ana heaii"s'
~. Iehipb Valley. the Pennsylvania Coal and Iron
comnony the Delaware. Lackawannn ana western
" t. scott ". J. Langley and Cox BrotheS 'o'"
many For the sake 81 simplicity. he assumed tfat
the railrads mentioned the same rs tlc coa'
companies which they controlled The jersey 'en'"'
did not handle coal from tidewnter IN TINS e'ae'
There was no organization. but the Interested persons
met 70 confer about the coal business. W. b. street
s.cret,ry Of the Pennsylvania Coal Company usually
called the meetings. The last one WIS called "erh
sc, Friday and the only thing discussed whs the
odysabiIity Of raising the price OF coal IN 'hioago
and the Lake superior region. IL vas riuchious" ""
there and the witness thought II should e ra'Seo'
The others did not agree with HIM Inc ucoi~""S
NJ The meetings we're not binding. The prices were
emf, When asked II that had tended - cause inc
meetings 10 be discontinued Mr.. Holden SAID no.
Int that the greatest Of them was to enable man
10 know what his competitors proposed 10 DO.
The standard price at Hoboken was 81 10 per long
ton OF stove coal II had not changed since OCTOBER
and the witness did not know that there was
any intention Of changing the prices Mr'
Griffin asked II public agitation had any in
aucnce I'm preventing "A change Of price and Mr. Holden
said +, did not To the further question whether or
not public opinion had any effect on the action OF inc
coal men, he said that II depended on whether inc
proposed change In accord with or In opposiuoh
10 the public wishes. They coud hN VI" pic" IL
they pleased but 1t might affect the consumption.
Mr. Holden said that his company would carry n
carload Of coal to Orange " j., for instance. for
private consumer. 80 far as ne knew" uioS III" "e'''
refused 10 do IT,
william :. Sloan. vice president of the Delaware,
| Iackawanna and Western Railroad Company, and man
aver Of it, freight and paSse ler business. was next
called He had nothing 10 do with the coal business
and he knew nothing about the coal combination
Frederick f. Chambers. secretary Of the Delaware.
Iackawnnnn and Western Railroad Company. sp
pearcd. but had books with him. His subpoena
did not call for them and 50 he did not bring them
He knew nothing OF coaI and could not tell why Mr.
sage and Mr. Dillon had been dropped from the board
Mr. GrInn remarked II is sad to have two such
good men turned without some reason Mr..
Chambers smiled but offered explanation. lilo
said that T. H. Gibbens the treasurer. had charge Of
| the stock books and knew about such Affairs
than he.
William B. smith. the general Eastern passenger
agent Of the Lchrh Valley. took the stand He was
tho only Lehlgh Valley man the sergeant-atarms had
| been able TO reach. lie knew nothing Of the coal
business but through him the committee hoped 10 get
track Of some who did. lie said that directors
lived In New York. W. II. sayre Of rc hchem Penn
| managed the coal business and attended the confer
cuccs In New York. lie and other officers came here
often and stayed at the Hoffman or the Westminster
tell He knew nothing Of the reasons for the change
In the board directors Of the Lackawanna but thought
the fact thni the new directors wcrc connected with
| lions between the two roads. There were morc
witnesses present. ard the committee adjourned, to
meet at The same pacc, at 10 40 a. H. on saturday
and tho sergeant alarms will asampt to have present
| mt the next session, some witnesses VINO know some
| thing about coal and coal combinations.
THE NFW-JERsEY INVESTIGATORS.