The Jersey City news., 1892-02-12
HUDSON is IN IT.
Local Effects of Readings
Big Coal and Freight
Combine.
MILES ON MILES OF TRACKS HERE.
And Many Acres Of Land in the
Various Taxing Districts
Of the County.
Thousands More to be Added When
the Bay is Filled Out to the
Exterior Line.
MILES ON MILES OF TRACKS HERE.
INCIDENTALLY, COAL MAY GO UP.

INClUENIALL1, OUAL MAI Uo oIs
Outside of the railroad world, people In
general do not fully comprehend the eX-
tent of the Reading com bination, nor the
revolution In railroad matters involved IN
the consolidation of the New Jersey Cen
tral and Lehigh Valley with the great
Pennsylvania corporation.
The hackers of this gigantic scheme
reckon their wealth by hundreds OF mil
lions, and notwithstandipgthe their prosesta-
tions that the price of coal will not 90 up,
men we'll posted in the matter say that
coal will be luxury in no great length of
time. The combination OF the roads
named was net brought about for the
purpose of controlling or mopopollz-
ing the passenger traffic, put for
the sole purpose OF controH-
ing the anthracite coal fields and
traffic. The consolidation Of these cor
poratons has not assumed serious as
pect yet, but as one gentleman prominent
In the railway world said to me yesterday
evening"
see what havoc this trust will create.
Coal prices will advance and with them
will go the freight rates and then the
force Of this com bination will show itself
in a manner that will make the walls OF
the Stock Exchange shake, and drag 1ndl-
vidual dealers to earth.
THE REAL OBJECT.
From the tone OF every gentleman Win
whom discussed the matter yesterday
came to the conclusion that the consoltda-
.tion was death blow to Individual own
sers of colleries. The vast coal fields of
Pennsylvania are the object sought by
the prime movers in this gigantic scheme.
The real object is to crush such Individual
owners of colleries as +. A. Potts q Co.
Coke Brothers, for whom E. B. q +. w.
Ely act as agents in the manipulation of
the great and rich Plymouth colleries,
Pardee g. Co., Van Winckle, Stout q Co.,
StycKney, Cunningham q Co., ana u. b.
Iindermann 81 Co.
-Thesa firms own colleries In Pennsyl-
vania which comprise whole counties
These colleries are at present virturally
shut down owing to the fact that the
Reading Company has for months past
been waging war against tnem ana
that they were mining coal at loss.
The Reading Company, which is virtually
the Reading Coal Company, is at present
the richest corporation in the known
world In the matter OF anthracite coal
fields.
The fight of this company against the
wealthy individual owners has had tell
ing effect.upon the Golfers OF that corpora
zion and it was decided that the only
manner in which the individual owners
could be crushed was by the concentra-
tion of forces and by the power which
must emanate from illimitable capital
being brought to bear directly npon their
opponents. Backed by the Vanderbilts
the scheme which has caused such con-
sternation, because of its dimensions.
was hit upon and nnally carried eHectu-
ally into operation.
AN IMPORTANT QUESTION.
The cause Of much comment and sDecu-
lation was the query, "How does it hap
peu that the Reading Company is figuring
at the top of the heap in such deal and
has secured the controlling power in the
New Jersey Central, Lehigh Valley. and
virtually, the Delaware, Lackawanna
and Western Railways"
Perhaps the best reason for this ques-
tion being asked is the recollection OF
transaction which caused much excite
,ment in the railway world in 1888. In this
wear the Reading Company was virtually
on the verge of bankruptcy. Its only
source of sustenance was then. as now,
It's wealth of anthracite coal fields. Not
withstanding it's financial situation at
that time the Central Railway of New
Jersev was leased for 900 years. the terms
of the lease being that per cent. divi-
dends should be declared yearly. The
scheme, 1t was thought at thaG time
would boost the Reading along and give
IL an enviable financial standing. Within
one year, however, it was discovered that
the Central Railway of New Jersey in
the matter of freight revenue was no bet
ter off than the Reading. Accordingly the
lease was broken after months of fighting
in Court.
Subsequently the Central Railway went
into the hands of receiver, but under
skilful management was lnstilled with
new lite, its wings were widened and
spread out and shortly after. it was de-
clared to be on paying basis: Central
stocks began to boom, until today they
are quoted and sought for at 131.
The Central Railway people acquired
rich anthracite coal fields. and each year
the Reading made new and now invalu-
able acquisitions. the Delaware, Lacka-
the Lehigh Valley virtually secured con-
troll of the Lehigh basin, from which
source the supply Of anthracite seems al
most inexhaustible. While these three
great corporations were struggling along
and pulling in opposite directions, the
PENNSYLVANIA Railroad was getting in its
fine work and, with the individual col
ljerv owners, was reaping rich harvest.
Freight rates were being kept down and
likewise the price of coal. The outcome,
as stated before, was the formation oil
this gigantic corporation which now con-
trolls the anthracite coal situation.
THE EFFECT IN HUDSON.
In many respects the people Of Hudson iu 1901
county VIII @ prons ~ snff.r .ns ron a gisncs,,
at the local outlook will prove INTEREST
ing. The effect Of such COZ combination tanni,dnn
for railway purposes in Hudson county,
and il also means that steps viii be taken
at no late date 10 secure the New York
Bay shore from the piers of the Central
nf
nscts are that the piers will extend as far
put into the bay as the Riparian Commits
sioners will permit the railways 70 Tex OK.
tend them, and that is almost on direct
line with ellis aud Bedlo~'s Islands
This will give the combined railways
and their branches an output ~ whose tsa
va1ne of property throughout the entire
county will be increased is generally con-
ceded. s.
The sudden combination OF these roads,