New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-10
READING "COMBINE" BROKEN
FEAR THAT IT'S CHARTER WOULD BE REPEALED
THOUGHT TO BE THE REA;oN-STRoNG
FIGHT BY THE NEwJERsEY
AUTHORITIES.
fDY TELEGRAPH To THE TRIBUNE.1

Trenton, y. j., Jan 0-rhe vigorous attack
Of tho New-Jcrscy authorities upon the Reading
coal combine has had its effect. The com
bnc' to-day became thing of the past The
New-,Ierscy Central withdrew from it and filed
documents with the court as guarantee Of
good faith. The combine" was regarded by
Governor Albeit and Acknowledgement Stockton
az the outset as al llcGal alliance, a conspiracy
TO destroy competition in the anthracite coal
trade and to raise the price of coal to all con-
sumcrs. The Reading got bill through the
Legislature last winter TO legalize the dea' but
Governor Albeit refused to sign it, After this
action on his part the railroads involved decided
that tho "combirc" should stand anyhow The
New-Jcrsey authorities dcfed and tley
decided upon 20 force the Reading and its
allies to obey tho laws Of the State
Tho first move against the coal carriers to
show that the Port Realng and the Philadelphia
and Reading roads We're oiTiccra and controlel
by the same men. and were practically one nsti
tuition. The leasing Of tie New-Tcrsey Central
10 tho Port Rcading was therefore shown TO be an
evasion OF The law, since the privilege Of leasing
to foreign corporations is denied TO home cor
porations. Great masses Of testimony wero
taken and many days were consumed in arou-
meats and the Chancellor finally decide that
tie Reading wac on'ratng the Jers"y Central
unlawfully. lie made order commanding
tie Central TO sever its connection with the
Reading, and it made show OF obeying the
mandate: hrt the representatives OF the State
discovered that tire Port Reading. tho Central,
the Philadelphia and Reading AMI the Lnhigh
Valley were all working toccthcr Their agents
held several meetings in New-York, and raised
tho price Of coal, all the coal lands OF the Central
being still under lease to the Reading.
In possession of all the facts, the Attorney
General went to the Court Of Chancery again,
this time with complaint that the courts
orders were being disobeyrd by the " combine,
and with an application for tho appointment
Of receiver to watch the railroad companies,
report their doings 20 the court. and protect the
interests of the people The Reading sent some
Of It's ablcst lawyers here TO deny the charges.
Whole volumes Of testimony were again taken
and ell sorts Of andavits were submitted In
substantiation Of the defence buts notwith-
standing their expensive and stubborn fight. the
roads have given In.
Tho authorities have not made the iacts pub
lie but an official Of the Central announced TO-
day that his road had cancelled and absolutely
terminated all its agreements with the Reading,
withdrawing from the Objectionable alliance ana
cancelling tho lease Of its coal lands lhe 'hon-
cellor has heen or will Immediately be pctitioned
for permisson 10 prove tho facts, and then he
win be asked TO qunsh the proceedings for tho
appoin.mcnt Of receiver The Attorney General
has ius. submitted Il report to the Governor on the
subject OF the combine" and fear Of hostile
legislation undoubtedly impelled the managers OF
The Central 20 surrender. For n week or two ri.
mons have hccn rife that IT. was the intention OF
tho authorities TO demand the repeal or the cen,
trails charter As harsh n step was proposed
against tho Morris and Essex few years ago.
lie Morris and EsseX. refused to settle large !i
we're determined 10 collect the amount or repeal
i,s charter, check for the sum due the state was
promptly forthcoming The Jersey Central may
have been impeiled by similar motives; FOR
two DAYS past round ots OF Reading and Jersey
Central have been sold short" by insiders who
knew what was coming and expected both stocks
70 be adversely affected.