The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1894-11-23
NINE, MILL AND RAILROAD.


The coal trade, says the Philadelphia
Record, has somewhat recovered from
the paralysis into which it was thrown
several days ago by the report that
Coke Bros & Co. had announced re-
duction of 40 cents per ton, and that
other operators had promptly met the
cut. Prices were stated yesterday to be
more firm and steady, and dealers were
reported to be making inquiries and
buying some coal.
The coal trade generally does not take
much stock in the rumors to the effect
that Coke Bros. & Co. are contemplat-
ing a sale of their interests to Jersey
Central. A bit of unwritten history
the Philadelphia Times printed because
1t has bearing on this point is the fact
that at the time of the Mcleod coal
combination negotiations for the sale
of the Coke Bros interests were carried
on for some time and fell through. 1t
was then proposed to divide up the
property, Reading, Lehigh Valley and
Jersey Central each taking one-third,
on the basis of $12, 900, 900 for the whole.
1t failed, it is said, owing to the objec-
ton of President Maxwell, of Jersey
Central. who thought the price was too
high. 1t is understood that Coke Bros,
& Co. ask more for the property now
than they did two years ago.
Saward doesn't think much of the In
dividual Operators plan of battle 10 Sc
cure better tidewater rates. He re-
CARDS it as impossible that prices
shall be higher than they are until there
Is more honesty of purpose on the part
of the producers in carrying out an
agreement. The market will take just
about so much anthracite each year,
and in order that this may be sold at
price which will be profitable to the pro-
ducer and carrier it is necessary at
times to restrict the production. III is
an old story, that restriction does not
restrict; but this is only true where the
parties in interest-some of them at
least-apparently satisfied with the re-
suits obtained, exceed what has been
set down as their quota. business OF
such magnitude as the anthracite coal
trade. and which really is in such few
hands as producers and carriers, should
be better managed. 1t is only necessary
to apply the rules of common prudence
thereto, and the result would be
steady demand and u remuneratlve
price" This, at least, is easily said.
John Wanamaker, upon being asked
as to the truth of the report that
number of Lehigh Valley stockholders
had inaugurated a movement to run
him as a candidate for the presidency
Of the company, replied: 1T is news to
me. l know absolutely nothing about
any movement to place me at the head
of the Lehigh Valley. / have not been
approached by any stockholders that
become a candidate for the office, and
the only reference ] have ever heard
made to the subject has been In casual
conversation with people | have
CHANGED to meet on the street, who have
asked me why l did not take hold of
this or that or the other company. 1t
Is certainly very remarkable thing
that whenever any people get 1t into
their heads that there ought to be a
change in the management of any large
corporation they at once pitch upon me
as the man for the position, as though
had no business to attend to, no large
interests to occupy my time and moth
ing to do but look after other peoples
affairs"
In reference to rumors as to the re-
tirement of President Wilbur of the
Lehigh Valley, the Lehigh Valley of
ficiaSs announced that Mr.. Wilbur has
now no thought of retiring from his
position at the head of the company.
This is the truth, and it is not likely
that there will be any change at the
election in January. Mr.. Wilbur has
the support of the Packer estate, which
gives him control of the company A
year or so ago he had serious thoughts
of retiring, but it has been we'll known
for months that he has given up all
thoughts of resigning.
Says the Philadelphia Stakeholder:
'The Scranton and Pittston Traction
company, which has been operating
only three and one-half miles of road
during the summer, ITO Taylor and
Greenwood, has just put in operation
two additional miles, to Moosic, and
next week will begin operating to
Avoca, which is an additional two
miles. The contract has been given to
Stern & Silverman, of this city, to COM
plete the road into Pittston; this section
Is now under construction, and will be
completed month, forming the con-
Meeting link in chain of electric rail-
ways in the Wyoming and Lackawanna
valleys comprising between ninety and
one hundred miles of track, and bring
ing into close communication the nu-
merous towns and villages with the
city Of Scranton-the third largest city
in Pennsylvania, and the metropolis of
the anthracite coal region. All railways
In that section are said to be doing
relatively large business, and the
scranton and Pittston is regarded as
equal in merit to any of them"
MINOR INDUSTRIAL NOTES:
The Jeddo, Highland and Oakdale col
lieries of G. B. Markle & Co. have
started to work nine hours per day.
The Reading reorganizers are said to
have secured &,OOOOOO of the $4,000 900
general mortgage as held in London.
A tunnel is being driven from No. Q
Highland, to No. l, to strike big vein
OF coal that could not be reached other
wise.
Lehigh Valley officials say that so far
as they know John Wanamaker has no
interest, pecuniary or otherwise, in the
stock of the company or its affairs.
Much interest attaches to the call for
meeting of general passenger agents
of all western lines at Chicago next
Monday, when steps are expected to
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