The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1892-11-28
OBSTINATE OLIPHANT.
He Will Not Reveal the
Delaware and Hudson's
Coal Price Tables
JERSEY CITY DEALER HEARD
Progress Of the Investigation of the
Reading Combine Before
the congressional
Committee.

NEW YORK. Nov. 2s, 1s92.-The Con-
gressional Sub Committee which is in
vestigating the Reading coal combine re-
sumed its hearing in Room 121 of the
Poft Office Building at half-past ten this
morning. The only members of the COM
mlttee present were Congressman Pat
terson. of Tennessee, who acted as Chair
man. and Congressman Wise. of Viz
ginia.
Lawyer Charles Il. Beach, counsel of
the committee, was on hand early. Presi-
dent r. M. Olyphaut. of the Delaware
and Hudson Canal company, was called
to the stand first. Mr. Olyphant said the
principal business of the company is min
ing anthracite coal. and the quantity pro-
duced last year was about four million
tons. A large portion of this came East
to tidewater over the Erie road.
Mr.. Olyphant said he never had at
tended any of the monthly meetings of
the sales.agents at which prices were dis
cussed, as well as the output. For the
last forty years, he said. the price OF coal
was always lower from January to July
than during the rest of the year. From
July on to the beginning of the year
prices always had an advancing ten
dency.
REFUSES TO TESTIFY.
The witness thought the advance
during the present year in the
price of coal had been about thirty
cents. He made some objection to fur
nlshing the committee with table of
prices for the year, and after some discus
sion refused point blank to furnish the
information.
Mr.. Olyphant said he thought the Com
mittee had no right to make him give up
the private business matters of the Com
pany.
I'VE are opposed to this combination
which the Committee is investigating"
he said ''and have nothing to do with 1T.
Our Company was never in the combine.
for our Interests are opposed to those of
the transportation companies which are
in the deal.
Congressman Slower came in during the
examination of Mr.. Olyphant, aud the
committee consulted as TO whether they
should make the witness answer the
questions pu5 by Mr.. Beach or rot. He
refused to answer any futHer questious,
insisting over and over again that he had
nothing to do with the combine Or coal
deal.
Mr. Olyphant finally said he would ask
his sales agent to make any statement
tnat the committee mig ut want r--'s'->'
''Don't you think That the coal COM
panies and coal dealers OF this city have
been making excessive profits during the
past year?" asked Mr.. Beach.
Il think that the coal business is about
as poor a business as a mau could go into
10 this neighborhood," replied the wit
ness. He was excused from further in
yestigation.
WORD FROM JERSEY CITY.
Smith ID. Mackey, a Jersey City retail
dealer, was the next called. He said he
bought his coal from the Pennsylvania
Railroad. At some seasons of the year
he would be obliged to pay dollar more
ton than at others.
The prices were always higher in the
fail. In last October he paid 80 or 20
cents more ton than he had paid in the
spring.
"Are the profits of the retail coal dealer
excessive" asked Lawyer Beach.
''Ihey are not. AT least, they were not
last year. 1t WAS hard season for every
body. Our profits were larger the year
before"
William E. Street. Secretary of the
Pennsylvania Coal Company, testified
that he usually attended the monthly
meetings OF the western and tide-water
SAILS agents.
"lhey are very informal" said Mr.,
Sheet, and The subject of the ira g is dis
cussed. The representatives of different
sections are called upon to express their
views AZ to the situations in the trade and
make reports as to the demand in the
different markets.
s'The purpose OF the meeting is only for
a general consultation as to the condition
of the trade, and to secure peace and har-
mony, II this is posi- ble."
"Ler us hear something about the
peace and harmony That's what we'rs
afrer." remarked Mr.i Beach. "They are
always pretty harmonious. aren't they?n
mo, sir, they are not. just the con-
trary IN most cases.
Mr.. Street declared that no one was
bound by anything that was done at any
of the meetings. but that each company
fixed it's own rates, depending upon the
demand aud the scarcity OF the commod-
ity.
One of the main objects OF the meet
tngs. he said, was to discuss the pro-
bable demand, SO that the companies
could govern their out put accord
ingly. None of The companies wanted
to produce any more coal than it could
dispose Of, for it was a commodity that
could not be stored easily and deteriorat-
ed when not immediately sold,
AT each meeting 1t was decided when
the next meeting should be held There
was no obligation ON the part Of any of
the interests represented to attend the
meetings, and there was no regular time
fixed for the meetings.
Mr.. Street did not think that the retail
coal dealers had made excessive profits
during the past year.