The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1894-11-03
NINE. MILL AND RAILROAD.

NINE. MILL AND RAILROAD.
r. G. Dun's weekly review of trade
today will say: The last week of Oc-
tober, with an exciting election near,
cannot indicate much of the true con-
dition of business. In some trades the
season is too far advanced for great ac-
tivity, and in others the supposed eff
fects of the voting hinder operations
But it is satisfactory that the volume
of production is well maintained and in
one or two branches increased, that no
monetary difficulties disturb. At
present the volume of business
transacted is on the whole smaller than
last year. and much smaller than in
1892, though a presidential election was
then close at hand. Railroad earn
ings for the latest week show
decrease of 4.6 per cent. and for
the month of October thus far AS per
cent. compared with last year, and lis
per cent. compared with 1892. In the
iron industry, the chief activity
is in structural works, bridge and
other plates, while the demand for
sheets is somewhat diminished; bar
nails are weaker. The average of quo
tations for various kinds of iron and
steel is per cent. lower than in July,
6.5 per cent. higher than in July last
year. The failures continue small and
for four weeks ending Oct. 25, liabilities
We're $S20G000. The failures during the
week have been 249 in against 1858 last
year, and SO in Canada against % last
year.
President Maxwell, of the New Jersey
Central road was interviewed in New
York by reporter for Keirnan's News
Agency. He thought the recent decline
in the stock was due almost entirely to
the efforts of the bear traders; that
some narrow marginal stock may have
been shaken out, but that no consider
able amount of solid long stock has
been forced out. When asked whether
the action Of the sales agents in remov
ing the restriction on the output had
anything to do with the decline, he re-
piled: 81 cannot see why 1t should
have; there is no coal war or Likelihood
of one; the Lackawanna claims to have
such a demand for coal that it wanted
the restriction removed. There is not
much selling of Lackawanna on that
account that can see." "Is there any
doubt about the January dividend?'
THAT is too far in the future to talk of
now. We are just about to pay one
dividend, and that ought to suffice for
the moment. This / will say, how
ever-I believe we have reached the
lowest tonnage we shall have on this
business depression, and that from now
on we shall improve in the amount of
our traffic and in earnings Moreover,
moderately cold winter will vastly in
crease the business of all the coal roads.
At present the country at large Is COM
paratively bare of coal. | have conf
dence in the future of the country and
of the Jersey Central, and the effects of
n bear raid on the stock will pass away.
Short sellers will become buyers in due
time"
A Wilkes-Barre dispatch to the Phila-
delphia Record says: THE great an
thracite coal war Is now on in earnest.
Every colllery in the Wyoming region,
which has not done so already, will re-
sumo on full time with a full force of
men. The three great regions, the
Sshuylkill, Lehigh and Wyoming, will
all then be under heavy pressure to pro-
duce all the coal possible. Individual
operators are expected to follow this
lead for self-protection. The following
table shows the exact percentage of the
total output apportioned to the big com
panies by the anthracite pool:
Reading ........'..'..''.''''.'''' A'o3
Lehigh Valley. y.".........,............. 1887
Jersey Central. l......................... 1888 |
Delaware LaclIawanna G. Western. 1854 |
Delaware & Hudson. 1865 |
Pennsylvania r. r. Co................ 1915 |
Pennsylvania Coal. al..................... 4Sl |
Erie ............................. 1W |
The five leading ones failed to pro-
duce their allotted share, the Reading |
falling to 1850 and Lehigh Valley to |
1850 The Pennsylvania railroad, how |
ever, mined more coal than it's SHARE or
I'LL Coke Bros. produced 4.59, the larg- |
est amount of the individual operators. |
The large operators in this city and val |
ley are of the opinion that this go-as-
you-please plan will be of short dura-
ton, as the market will be glutted very
soon.'
1t is becoming evident that an effort
will be made by the railway employees
of the state to have the next Legislature
enact laws for their benefit. At a re-
cent meeting of about 100 railroaders
in Millvale 1t was decided to make an
effort on the following laws: Prohibit
ing railroad companies from discharg-
49,