The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1892-11-27
THE READING COMBINE,

| NEW YORK, Nov 26-Vice President
Holden of the Lackawanna was the first
witness today before the committee inves-
tigating the Reading combine deal. Mr..
| Holden said that at the tidewater meetings
| eastern meetings) of the combine 1t was
usual for the Delaware, Lackawanna and
! Western, the Philadelphia and Reading
Ccal and Iron company, the Delaware and
| Hudson Canal company, the Pennsylvania
| Coal company and the Ontario and West
ern Railroad company, TO be represented.
! The witness said that there were no asSocl-
| ations among the coal-carrying companies
for purposes OF fixing tolls similar to those
of the trunk lines. In regard to the re-
striction of tonnage Mr. Holden said it
was not accomplished by limiting the days
of labor. OF course il the mines were
worked to their utmost capacity the out
put would be far greater than the demand
Mr. Holden did not appear to he prepared
to say just how the restriction OF tonnage
was accomplished.
In reply to "a question by Congressman
Patterson, Mr. Holden admitted that his
company was represented at the tldewater
meetings, and at these meetings there was
neither chairman nor secretary. Such
meetings, he said, were rather In the line
of conferences. and the various companies
represented usually acted IN concert as a
result. There was no agreement between
these companies as to what the reduction
of the output should be- There was some
process though by which the companies
reduced production to meet the public
demand.
Congressman Patterson asked: Now,
do you mean to say that when these com
panieS cause reduction In the output of
anthracite coal that each one makes such
reduction as it sees fit, independent of the
others. and without reference to any other
interest than its Own?"
Mr.. Holden-Well, L can only speak for
my own company, and reply in the affirma-
tive.
You know, though, what the other
companies are doing, don't you"
Yes; we have general knowledge Of
what is going on outside"
Mr. Holden said that he did not believe
that the retail coal dealers had made any
excessive profits for some years. The wit
ness also stated that the producers had no
agreement among themselves, so far as he
knew, by which they were to act in
harmony in fixing prices. Since the exist
ence of the com bination there had been no
material decrease in the output. In fact,
he output for 1892 already is the largest
ever known, and exceeds the output OF
last year by 200, 900 tons of anthracite coal.
There never WAS time, the witness said,
when consumers could consume the entire
Edward II. Mead, president Of the
Pennsy lvania coal Company, testified that
his company was represented at the tide
water meetings. Mr.. Mead objected to
furnishing the committee statement of
the nums'er of fall days worked by the
miners in the employ OF his company since
1890
Congressman Patterson said that they
wanted to get at the fact, if it existed, that
the companies acted according to an
agreement in the matter of limiting pro-
ductiou, and, when asked what caused
the restriction in production, Mr.. Mead
said that it was occasloned by every circus
that came to the mining districts, by
every holiday, and by every death in a
miners family. There was 10 agreement
by which each company reduced its out
put proportionateiy They limited the
output 10 meet the demand; as loug as
there was demand, they had supply.
They sold ALI they could.
Then, how is it that those companies
reduce their output proportionately
simultaneously" asked Mr.. Patterson.
WELL" answered the witness when
there is no demand we limit our pro-
duction. We know what the other Conn
panles are doing"
Mr.. Mead finally agreed to furnish the
committee with T. statement showing the
monthly output of the PENNSYLVANIA Coal
company for 1880 1891, and 1892
The committee then adjourned. The in
vestigation VIII he resumed on Monday
runrpiusy nj a.30 ofclOck a VI