Evening journal., 1892-02-17
PRESIDENT A. A. M'LEOD.
The Man Who Directs the Anthracite
Coal Trade.


Values Inc -sas with
and STEADY Labor with Fair yyages-Tke
Results OF the MOST Colossal Railway
Deal OF the World
The Reading railroads recent acquisi
tion Of the Lehigh Valley and New
Jersey Central roads. the most stipend
Gus railroad deal ever contaminated in
the world and The most startling financial
operation OF the age, will have couse-
queDces so momeutous and far reaching
as to be almost beyond the grasp of the
average mind. Not only does it make
the Reading railroad the most powerful
corporation in the United States and the
largest employer OF labor on the civilized
globe, but 1t practically constitutes it's
president, A. A. Mcleod, the dictator of
the anthracite coal trade and the arbiter
OF the fortunes Of the vast interests and
industries dependent upon the trade
Itis natural that some curl
osiiy should be manifested re-
garding this remarkable man.
aud that some anxiety should be felt as
to the policy he may be expected 10
pursue Those who know Mr. Mcleod
and those who have closely watched the
brilliant and ssgscious tactics by means
of which he has lifted a bankrupt cor
poration ont Of the slouth Of fnanci Il
disaster and physica decay, making it a
most powerful company, will have no
fear bat that he will use his vast author
ity cautiously, and for the public
good.
No apprehension need be felt as to the
new order Of things upon the prices of
coal. While 1t is expected that the ag-
gregated net profits Of the united
Reading system from this source will be
increased So, COO 600, neither furnace
nor foundry nor poor mans hearth will
be taxed penny to bring about the re-
suit.
The fact is that the old system Of mar.
keting coal Though an army of sales
agents quartered. in magnificent Offices,
levied tribute upon producer and con
sumner Jointly to the extent of from 20
'nts to 81 per ton.
Mr., Mcleod proposes that this system
OF fattening middlemen into millionaires
shall cease that the producer and con-
sumner shall be brought together and that
the producer, the carrier and the con
sumner shall rap the benefit Of the saving
thus made,
The old system Of reckless and ruinous
competition has made coal cheaper at
Boston and Chicago than within the Dor
ders of this state, with the result OF
subiecting our manufacturers to q
formidable and highly injurious rivalry,
shutting them out of markets that
ought by rights to be their own, and
forcing the wages Of the wo king people
In this the richest state in the Union, on
a level with those Of less favored states
Of the East.
Mr.. Mcleod proposes to stop this un
fair and absurd discrimination against
Pennsylvania. The manufacturers Of
this state will pay no more, aud probably
/ less, than they do now for their fuel
while the price Of these at distant points
will be 80 adjusted as to pay reasonable
profits to the mining and transportation
interests, and at the same time give thi
msnufsc urers of this coal producing
state the advantage to which their prox
unity to the source of supply justly en-
titles them.
It may te true that competition is tn
life Of trade, but It has proved TO be th,
death OF prosperity IN the anthracit
regions Of Pennsylvania. To the oil
system Of alternate strife and truce be
{ Eeeu competing corporations and tn
trade fluctuations resulting therefrom,
due the arbitrary suspensions OF worI
and the reduction OF wages which hav
50 sorely oppressed the miners and cause
such serious losses to the mercantile CON
munities dependent upon their trade.
Mr.. Mcleod proposes that hereafte
prices shall be stable and employment
steady at fair wages He believes the
tae new order OF things will be especial
advantageous to those engaged in or |
any manner interested ia the mining il
dustry
From financial point of view, ii
general wealth of Pennsylvania has bee
increased millions OF dollars by the su,
cessful elimination of President M
Ieods efforts The companies include
in the new compact are practically own'
in Philadelphia and other parts of Oh
state. aud the enormous enhancement
the value OF their stocks and bonds, wit
the assured certainty of regular dividend
means increased happiness in Thousand
Of homes -Philsdelphia Times Fe
ruary Is.