The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1892-02-18
HE DIRECTS THE
ANTHRACITE TRADE.
PRESIDENT MLBOD AND HIS
RECENT GIGANTIC DEAL.
A POWER FOR PUBLIC GOOD.
The End of D examinations
Against Pennsylvania-V Values
Stable Prices
and Steady Labor.

The Reading Railroads recent ao-
QUESTION of the Lehigh Valley and
New Jersey Central Roads, the most
stupendous railroad deal ever consum-
mated in the world and the most start
ling financial operation of the aye,
will have consequences 50 momentous
and far.reaching as to he almost be-
yOnd the grasp of the average miud.
Not only does it make the Reading
Railroad the most powerful corpora
ton in the United States aud the
largest employer of labor on the civil.
lied globe, but it practically consti-
tutes its president, A. A. Mcleod, the
dictator of the anthracite coal trade
and the arbiter of the fortunes of the
vast interests and industries depend
entupon the trade.
1t is natural that some curiosity
should be manifested regarding this
remarkable man, and that some anx-
iety should be felt as to the policy he
may b9 expected to pursue. Those
who know Mr. Mcleod and those who
have closely watched the brilliant and
sagacious tactics by means of which he
has lifted a bankrupt corporation out
of the slough of financial disaster and
physical decay, making it solvent
and most powerful company, will have
no fear but that he will use his vast
~ l,n 30
the public good
No apprehension need be felt as to
the effect of the new order of things
upon the prices of COAL While it is
expected that tue aggregated net
profits of the united Reading system
from this source will be increased So
000, 600 neither furnace nor foundry,
nor poor mans hearth will be taxed
penny to bring about this result.
The fact is that the old style of mar
ketlng coal through an army of sales
agents quartered in magnificent offices
levied tribute upon producer and con-
sumner jointly to the extent of from 25
cents to 81 per ton.
Mr. Mcleod proposes that this sys-
tenn of fattening mlddlemen into mill.
ionaiTes shall cease, that theIproducer
and the cons lmer shall be brought to-
-gether and that the producer, the ear.
rier and the consumer shall reap the
benefit of the saving thus made.
The old system of reck less and ruin
Gus competition has made coal cheap
er at Boston and Chicago than within
the borders of this state, with the re-
suit Of subjecting our manufacturers
to q formidable and highly Injurious
rivalry, shutting them out of markets
that ought by right To be their own,
and forcing the wages of working peO-
pie in this, the richest state in the
Union, to a level with those of the
less favored states of the East.
Mr. Mcleod proposes to stop this
unfair and absurd discrimination
against Pennsylvania. The manu-
facturers Of this state will yay no more
and probably less, than they do now
fer their fuel, while the price of those
nj distant points will be so adjusted as
to pay reasonable profits to the mining
and transportation interests. and at
the same time give the manufactures
of this coal producing STATE the ad-
vantage to which their proximity to
the source of supply justly entities
them.
1t may be true that competition is
the life of trade" but it has proved to
be the death of prosperity in the an
thracite regions OF Pennsylvania. TC
the old system Of alternate strife and
truce between competing corporations
and the trade fluetustiOns resulting
therefrom, is due the arbitrary sus-
pension of work and the reduction o.
wages which have so sorely oppressed
the miners aud caused such serious
losses TO the mercantile communities
dependent upon their trade.
| Mr. Mcleod proposes that hereafter
prices shall be stable and employment
| steady at fair wages. He believes tha
the new order of things will be especl
ally advantageous to those engaged IL
or in any manner interested in the
mining industry.
From financial point of view, thu
general wealth of Pennsylvania hai
been increased millions of dollars 10y
the successful elimination of Presi-
dent McLeod's efforts The com pauie
Included in the new compact are prac-
tically owned in Philadelphia anC
other parts Of the state, and th'
enormous enehantment in the valu
of their stocks and bonds, wi tn
assured certainty OF regular dividends
means increased happiness in thou
sands of fhOmes.-PhiLIdeiphtd Times
February Is.