The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1892-12-01
IT Is on.
The Great Reading Coal Com.
bine Investigation.
RAILROAD MAGNATBS IN 1T.
The Congressional Committee Transfers It's
Meeting to Philadelphia.


If the output OF Coal was Uncontroila-
BILE the Miners Would suTcr-President
wilbur, of the Lehigh, Questioned as
TO the Effect of Free Trade on Coal.
PHILADELPHIA, Nov, 3O-The con.
gressional subcommittee which Is in.
vestigating the Reading combine met in
the chamber Of the United States circuit
court of appeals yesterday. William j,
Coombs, Of Brooklyn, presided, and the
other members were Bellamy Storer. G,
d. Wise, of Virginia. and Joseph Pat
terson, Of Tennessee. President Nc
Leod of the Reading railroad system,
was the first witness. Ne promised to
furnish the sub. committee with water
rates on anthracite coal TO New England
points that are reached by the Pough
keepsie route, so that the respective
water and rail rates may be compared.
Being asked to state the effect of the
monthly tidewater meetings Of coal
agents on the periodical output Of an
thraCite coal, whether or not the meet.
ings influenced prices and if the meet
ings tended to effect a concert Of action,
President Mcleod said that 50 far as he
knew these sales agents met to inform
each other about the condition of the
market. The point was pushed as to
whether the tidewater meetings in
huenCed prices. Mr.. Mcleod stated
that the demand for coal made the
prices and did not believe that prices
were otherwise influenced by the agents.
Charles f. Beach, Jr., of New York,
counsel Of the committee, who con-
Quoted the examination, then asked: 10 Is
it part of your scheme Mr.. Mcleod,
to effect any further adyancein the price
of cOal?"
No Intention of Booming Prices.
Mr.. Mcleod replied: Weregulate our
business according TO the condition we
find from month to month. We GER
tainly have no intention of raising the
price of coal for December.
How about January was asked.
Mr.. Mcleod replied: Il could not
| raise prices in January if | wanted to.
Mr.. Mcleod disClaimGd any CO-Opera-
tiOn on his part toward the election Of
Reading directors in the Delaware,
| Lacliawanna and Western railroad. and
said that the election had no connection
with the Readng leases. Mr.. Mcleod
| further stated that if there We're no
meetings to regulate the output Of coal
and every producer went his own way,
| the smaller ones would be crowded -
| the wall and the more powerful would
| combine and raise the price of coal.
| Many producers who were ON the verge
OF bankruptcy were helped by the Read
| ing management, Mr.. Mcleod Contin-
rel, and should the output of coal be
! uncomfortable labor would suffer. The
| ,,f
are on sliding scale when prices ad
vance so do their wages. Precautions
are taken not to flood the market, fo"
| producers would have to carry the
! burden themselves: Mr.. Mcleod denied
that the agents who meet monthly have
any authority to bind the heading com
pany.
| The Company's Aim.
To questions of the committee Mr..
Leod said that the demand for coal and
not the price regulates the output, and
that this is the aim Of the,compauy to
put the coal on the market at reason
able profit. The coal business had been
conducted at a lOs7. Prices are no
higher than they have been and no al.
vanccs have been made to operators.
Mr. Mcleod further stated that the
same opportunities are given to all
operators that are given to the
Philadelphia and Reading Coal and
Iron company as regards rates Of toll,
All shippers on the Readings lines pay
the same.
Counselor Beach then asked about the
canceling of a $l3, 900, 600 charge against
the coal and iron company by the Read
ing railroad, but Mr. Mcleod replied
that he was not then president and il
did not come under his direction. In
response to queries of Mr.. Wise, Presi
dent Mcleod said that substitutes fol-
anthracite coal would be used by tht
public if the price of the latter would
be fixed too high and that the too hig.
raising of freight rates by the Reading
would shut off shipping by the oper
ators. Mr.. Mcleod concluded that thu
Philadelphia Coal and Iron compan,
had never paid a dividend, that thu
Reading today is not getting reason
able profit on the output of coal. wv
want a reasonable price, said he, "bu
we do not propose to go so far as in an,
way to injure our trade.
Elisha P. Wilbur, president of the
Lehigh, Valley railroad, was the mex
witness. He said that anthracite Goa
rates are somewhat higher since tn
lease, although such rates have alway
been profitable. Anthracite coal, Mr.
Wilbur continued. is the most desirabl
traffic from remunerative point o
view. When asked what would be tn
result if there should be absolute fire.
| trade in anthracite coal, Mr. Wilbu
replied that in thirty days every ship
ping point would be full and all Goa
traffic stopped.
President Roberts on the Stand.
President George II. Roberts of tn
, | PENNSYLVANIA railroad, said that tn
{ | Pennsylvania railroad owns the maiOrlt
{ of stock in the Susquehanna Coal con
5 pany and is interested in the Lyker
20 Valley Coal company and also in Coz
) lands leased III the ShamOkin region
| The witness could not accurately civ
, the proportion of coal tonnage carrie
which was produced by collieries owne
or controlled by the Pennsylvania raj
: road.
= "Our mines" he continued, "produC
9 about $500, coo tons per year, portic
. of which is sold in New York throug
8 sales agents, who get so much per ton
addition to percentage.
Mr.. Roberts was not prepared to fu
nish any statistical infor nation al
records.
Joseph S. Harris, president of the L
: high Coal and Navigation compan
next testified. He said the Lehigh al
. Susquehanna railroad, which is ownt
= | 1irpctlv nv his cOmDanV has n tot