New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-08-06
COAL PRICES TO GO UP
WHOLESALE DEALERS SAY THEY MUST
THEY TELL THE SENATE INVESTIGATING COM.
MITTEE THERE IS no MONEY IN
TIE BUSINESS NOW.


Tho price o. coal must be increased 80 that ,be
.nesole dealers make something out OF tbei,
,usness At least 50 said some OF the witnesses who
.tsed before the Senate Investigating Committee
bieh held another session al the Murray Hill Hotel ye
terday. They declare tat there is 10 money In the
bole.a.e trade AT present prices. and say that the
mo object they now have in view is to increase the
nrce OF coal at least 35 80 cents ton. The
nrcc OF coal since January OF this year has been ad
yanced over 80 cents ton. and stin the Wholesale
dealers declare they are not making money and I'm
ad probability at their next meeting. which Is 10 be
ked on August IS, the price will be advanced
senator Mcmahon the only member of the
inyest~ atng committee present yesterday but lie and
Mr. Griffin. counsel for the committee. succeeded
getting the witnesses admit that the intention
of the coal men TO Increase the price OF coal be-
ginning on September 1. samuel Smaut general
manager for Thcdford Co.. retail dealers in this city,
said that when the wholesale dealers raised the price
OF coal the retailers not Informed of ii at once
and they knew nothing about 1t until they read of
IL in the newspapers. Circulars sent out by the
wholesale dealers came later
How much have the Wholesale dealers raised the
price during the last year," the witness asked.
About 20 cents"
And what has the retail increase beeni'
"Only % cents"
Richard IL. Williams Of Williams & Peters, the next
witness one of the dealers who looked aud hoped
for Increase. lie caid that the total advance
stove coal had been from So 50 TO - 81
When Mr.. Williams was asked if It were not In the
power Of the who attended the coal conferences
10 restrict increase the production, he admitted
that It was
When the last increase was made, what reason was
there for it7n Mr.. Griffin asked.
Because the prices realized then were too low
Did the companies lose money at those low prices y
Mr. Williams would not admit that they did, but de
cared that they did not make money.
Arc the present prices sufficiently high for the
wholesale dealers TO make money ?"
No. they ARE not We should like to ad
vance OF 30 cents"
will an effort be made to increase the prices"
There certainly will"
'4ias not coal-minng been reduced to a science
with all our modern machinery, etc. ?"
Tho getting out Of the coal Is being made easy
as possible the reply. Tile handling Of the
coal business is now being done inteligently. But
the dealers are loosng out FIR profit as matter OF
business"
elf tho companies represented at the next coal
conference should decide on further advance II
prices would there be anything 10 prevcn, the
carring out of their dcclsi}nl" Mr.. Griffin asked.
Nothing whatever" was the reply. The pc pie
the conferences absolute, Tor they control iie
pnce well as the producton.'
William II. Sayre, general agent Of the Lohigh
Valley Department of the Reading Company, was
called. lie said there not much money 10 he
made IN the wholesale coal business at the present
prices An advance OF 81 cents ton on stove
coal" he said, - think would be sufficient 10 make
the coal business prohtahle.'
President Mcleod, Of tic Reading Company 1t
was expected would be at the meeting Yesterday -
previous meetings. He has failed T. respond 20 the
SUMMONS, however At the next meeting. which
will be held on september 7, Mr. Mcleod will prob
ably be hand.