New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-07-22
HOW THEY MAKE COAL RATES.
TESTIMONY ABOUT The READING DEAL.
E. p. HOLDEN A WITNESS BEFORE THE STATE
SENATE COMMITTEE.

SENATE COMMITTEE.
The State Senate Committee appointed 10 mVesn'
gate the Reading coal combination continued us
taking OF testimony al the Murray Hi Hotter yes'e'
day. and u Is now pretty clearly believed p' We
members Of the committee that Tive Ne"fJe'Ses zen
trail and Lehigh Valley roads we're plscei under inc
control OF the Reading company FOR the phFpost VI
keeping prices as high az possible ana mat pe'"'o
January / coal viii be advanced 10 s. ton. Az
Yesterdays meeting there WAS important Hsumohy'
Il. h. Holdcn. the second vice-president OF 'he
Delaware Lackawanna and Western was the INST
winess placed OH the stand when the meeuhB WIS
called to order b parlor l. OF the Murray hii ho''
by tie chairman. Senator Martin t. McNahoh' Inc
other members Of the committee present were 'aooo
A. Cantor and Charles T. Saxtor. IT, u uri"'ii
acted as counsel and Thomas Jackson as assistant
counsel Mr. Holden was on The stand for about two
hours and although he was subjected the severest
Kind OF cross examination, he did not once forget him.
self a,M when he left the stand he wore smile.
The first question which asked Of Mr.. Holden
was IL he were at the meeting Of the railroad or coal
producers which was held last June. lie replied TINT
he
3And did an advance Of coal prices follow soon
after that meetingf" he was asked.
1T did"
"wbo was present and what companies were repre-
sented at the meetingT
Mr. Holden replied that among those there as Iar
as he could remember, were MT henderson, genera
manager OF the Philadelphia and Reading company I,
F. NJ Torrey W. f. sweet OF the Phadeipha Coni
Company r. II. Williams, OF Williams Peters H. d.
Ely Of Cox Brothers and several Others Inc witness
said that all the present at the meeting had nhah
monsly apreed on an advance Of the price OF con'
d Az the adjournment Of the meeting It WINS unan
mously agreed that there should DE an advance III
nrice lie said "but at one time many OF those preseh
were opposed TO an advance"
"Can You recall any representative OF ue Phiianepha
and Reading who was opposed 10 an ADVANCE MI
Griffin asked
The witness SAID that he not prepared TO
,swsr that ouest,on but he endeavored 70 give the
committee the impression that the Reading representa-
tive was on the opposing side
"Was the advance that was agreed upon IN June
the only advance Of the Year,
NO there were several"
"were advances always brought about at the meet
lpgsp
allow often were these meetings held I"
Every month
Mr. Holden said that In January OF 1872 tue PRICE
o, broken coal was So CO. and TINT now II was vs. 20
egg coal In the same month was ~ oo ana now ~ ~
and stove coal was So TO- while now IL IS - 30 "
aBut chestnut conl Is cheaper now than II was men,
added the witness, sand the average auNa"e ""7
only been from so to so cents ton
VIII there be another advance oelore Ue se'@'o"
closes n the witness was asked.
We hope 1ere will be. That will be my AIM
was the frank reply. -
is the demand for coal at This season OF 'he year
as great as II generally is
no II Is not. The demsnd has been postponed
IIaS It not been postpaid on account o' '"e W.
creased prfcel' ~
81 do NOT tbIn, So replied Mr.. Holden. "owins
m the general condition Of the country The demand Has
been postponed but We hope FOR nctvity s"on.'
"What part Of the anthracite coal business does
your company controlH@
Mr. Holden replied that The Delaware ana La"h'
wanna controlled about 10 - per cent, and tha' we
Sew-Jersey Ce0tral, Reading and L"high N"''ey 'o"
trolled from go TO 20 per cent
The members OF The committee then wanted "
know from Mr.. Holden II at the meeting held avery
month understanding was reached 20 ii"' zoe pU
d%Goa Of Gos MI saa no GLIDE ndnr was
reached The attorney :1n nb'inee ' or ~r,a
s esyss that int int men ne 'Si sfs the %
Well was production limited by the c0hcur'e"'' VI
Il should say TO In replying 70 that question, $40
Mr. Holden I'VE proiute all ;hat can he marketed,
not called for the purpose OF reaching 81 understand
ing Of making promises OF Of arriving al agreements
No binding agreement then VA fe''c"o" ~ my VI
the meetings p inquired Mr.. Grimm.
al, ALI the coal men concur In regard TO the prices
and about future production. can ANYTHING disturb 'he
plans nude b! the coal men : ..- ,,, ..o,v
Failure TO observe the concurrence. was IN" reply
Theu Mr. Holden In answer " questions vent On 10
explain that the prices arranged ioI al the m'tu"s
eIm,ed' the price Of coal vas likely 10 be increased
Mr. Holden then went on to say that The Reading hn,i
ro sS and Of he Jersey Central And that done.
said Mr Holder because It is easier for three men 10
j. r. Maxwell. president OF the Jersey Central Ran
road Complain. vice president Of The leading Company
Western Company. was ia" next witness The witness
.ald he did not have anyih ng 20 q, WIN Ilt