New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-04-21
TIE PENNSYLV1EJl'S COAL cur
A CIRCULAR GIVING REASONS FOR THE ACTION
FFFByT on TIE MARKEr.


EFFKJT on TIE MARKET.
philadelphia. April 2o.-The following Is the MI
text Of the letter out by the 'Pcnnsylvania HALL
oad Company announcing the reduction ia coal rttS
Referring to the discussion at the recent meeting IN
Se,v.York representative Of the snthnc~ coal
carrying companies. at which ue question "l"'p"N
ton rate. on anthracite coal considered nc" desire
:, ,d,orate the statements then msde. A. you sfc
aware during tina lsst year the behph NAlsy h~ir"'a
Company directly through ts coal ory"n"s"oh "'
Lehgh Valley Coal Company made Win "u'N'u"@' "I'''
a,or. contracts for the purchase q their coal upon pr
o,a, q, the utlces realirvd tide Other pilr"d IN
tere-s transporting coal from the sane region nAN' a7o
been transporting coal under The same general or S"sr
.rrorcm,ns Lately the Reading RairHd COMPANY a.
r~cty or through coal organization the Reading CoH
and Iron Company, has effected like agreements WIN .
puut..r Of mpcr- shippers Of snthrae coal anu ~
consequence these contrscts II became L"c'fJ 'of
our road II II to retain The product 81 coe"'H h"
IL has been transporting for huhD'f " SeAn WV " W.
ter into similar afrangeme1'tA 49,
h change lu the Mariner Of desling with Tho ahthaclS
Goa. trade necessarily requires AL adjustment OIL '' ms
Tor such transportation upon me be~s " 'o"'"~
.h,ch have elready referred for tho reason That me
a,,oun, received for tfansporsvon must nec--sfI
be the difference Letween the percentage afrrd To uo pa
10, the coal and the prices for the coal Including ighN
realized At destnOtion The terms Uo-s '"""''S
have been PUBLISHED repeatedly ~ being 20 per cent I" inc
-elinc price tide for prepared sles anu ~ d'"ie'
.,et.oes for sres lower than prepared Inc average
~ a, tiae ON yrovsred szes now. say, " 10 PSF of
"a ner cent OF which representing the t"Sporauo" f-
ca he al ~ while present rate. A. YOU are a""'"
H. 81 20 II Is therefore necessary " name IN" VI
a, "A n seaboard q, New.York which We VIII no" 10
would further state however. that the prices Z" 'o'
are changed the tran sporsu0n rates VIII lie decrea "
corespondipgy in the same ratio OF W per cent
WILLIAM II. JOYCE. General Freight Agent
The announcement that the Pennsylvania haiIV""
no, aetermIncd 10 reduce coal tolls eXerted an I'M
favorable effect on the stock market yesterday Inc
sborp decline In Reading stock on Tuesday was Il"
,oued by further weakness but the days loss Wa
nesr1y recovered on buying by the bears Ihe S'o'h
,ras tie centre Of excitement at the opening oi 'o
s,ock Exchange. and selling orders poured III up
narentlv from every quarter. The later ralN ""'
Influenced by the declarations reported rom r"'''"e'
mia that the Reading managers proposed to niio" Tue
pernsvlyania 10 make It's reductions without m'e'hs
hcn I'm coal circles however there u col'nrr,ole
mYcty rs 10 the prospect Of a war IN rates lol1
a. .ncrr belief that the Pennsylvania hi's ore NJ
mil the Reading coal deal II possible ana VIZ,
bo reduction on coal rates IL only the hrs' scP ~
",e General hosilliiies. Coal men laugh AZ inc Iu
o, HE Reading can refuse 10 meet the rates Ihiue ny
m trnnsyvana and II Is asserted mat hc'ilhg III,
I,,dv given secret Instructions TO lts agents 10 ' LIN.
cocA terms with shippers as they can obtain HUN
the pennsylvania