The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1894-07-02
GENERAL NEWS
OF INDUSTRIES

ka'u w tho PiouuStluu lOl Ouiy a'OoV
from the unwillingness' of certain
agents to restrict the output 1t was
finally agreed that 3.500,0O0 tons could
be marketed. The advance ordered in
prices Is supposed to have gone into eff
feet yesterday Coal to tidewater was
advance Is cents. 1t was practically
acknowledged that all interests had
been cutting prices on competitive bus
mess, and that the output in the latter
weeks of the month had been larger
than the trade warranted. The yari-
ous interests promised to cut off deliv-
cries taken at May prices as soon as the
coal in transit is delivered. Circulars
are already being prepared to that eff
feet. The June circular, which is ad-
vance over the May circular Of Is cents
and 25 cents, will become operative.
The July circular, made last Friday,
will be used as leverage to secure
June prices. None of the companies
expects TO realize the July on July bus
mess. Lackawanna in June sold more
coal than during any corresponding
month in the history Of tho company.
The same is true of Jersey Central.
This makes the total increase in coal
prices since May | about 40 cents per
ton on stove and domestic sizes.
1t was thought on Saturday that
number colliery OF the Delaware and
Hudson company, John T. Mooney fore
man. would be in readiness to resume
operations today. This colliery has
haaK, i,,o nj So m Oh 1,ri,,r, x,i, oh
time it has been thoroughly ovsrhauled
and repaired. BY the erection of the
large shaft tower, a new pair Of first
motion engines, and other like i'm.
provsments the capacity Of the col.
liery has been greatly increased, hence
the output OF this colliery will hereaf-
ter be much larger than formerly.
The returns OF the new railway track
laid in 1894 up to July /. show an ag-
gregate of 495 miles. This is the low
est half years record that has been re-
ported for years. The total il $50 miles
below the new mileage built in the
first half of 1893 over 705 miles less
thin in the corresponding period OF
1892, and only third Of the track
bnilt in the first half OF 1891, ,lhen
1.Gl0 miles were reported Through
the comparisons with the work done in
II similar period of the previous years,
which were poor years for railroad
building, show plainly how great the
decline has been actually, yet the rec
ord may be regarded as very fair, if,
indeed, it is not to be looked at as an
Unexpectedly good one, considering
the conditions In other industrial fields
that have existed for a year past. The
obvious explanation is TO be found in
the location Of the lines. An examin-
alton of the length Of the new lines
and the parts of the country where
they have been built. makes it clear
why nearly 500 miles of railroad have
been constructed under such unfavor-
able conditions.
According to q Reading dispatch
some apprehension has bsen created
among employees of the Reading rail
road in that city by the recsnt dis
charge of some train service employees
They were simply sent for By Supsriu-
tendent Bertolette and told that their
services were no longer required, no
reasons being given. They had been
working for the company from three to
nine years. The discharged men admit
that they belong to the Brotherhood of
Railway Trainmen and they are Of the
opinion that they were discharged on
that account. The policy of the Read
DailrnnH pnr
has been to employ no persons belong
ing to any union, but in spite OF this it
is said that considerable number
have joined various railroad organizl.
tions. 1t is feared that other discharges
will follow.
In the course OF speech in the SEN
ate the other day Mr.. Call, of Florida,
quoted some statistics especially per-
tinent during the progress of the pres
ent ill.advised Debs railway strike He
said: "Tne total fund of debt OF all
American railroads in the year 1882
amounted to S., 463, 900, 900. -Four and
one.half per cent of this figure Of gross
bonded indebtedness would amount to
$245, 900, 900, whereas theso railroads
paid collectively in that year $2S2, 600, :
600 on their bonded indebtedness. or an
average OF At per cent, taking favor
able year for such comparisons, and
not one like the past year, during which
by default upon bonded interest so
many American railways have been
thrown into receivers hands. During
the year 1893 seventy-five American
railroads, operating $4,000 miles and
having gross bonded indebted
ness of $2.212 900, 900 went into
receivers hands and have defaulted
on their principal payments, SO that
this years net returns from railroads
to bondholders will fall short of Al per
cent. and will not attain higher aver.
age than 3d. 1t is also to be remsm-
bered that those bonds which regularly
pay interest as it accrues sell at a
premium beyond the nominal value, a
thoroughly guaranteed "git-edged'
per cent. bond selling at a premium
of 25 per cent. The gross amounts of
capital stock of all American railroads
has more than doubled during the past
twelve years and now amounts to S.,
600 100000. The total dividends paid
on the capital stock Of American rail.
roads amounted in 1891 to 800, 900. 600
an in 1892 to $S3. 900. 900. Two per
cent on the total capitalization would
be $lOO,OO0,000, and it is therefore evi
dent that the holders of stock in Amer.
ican railways receive even in favorable
years little more than one and two
thirds o. one per cent. interest on their
holdings"
MINOR INDUSTRIAL NOTES:
1t Is not generally known that the St
Paul has no Pullman cars on its system; it,
however. runs complete sleeping, drawing
room and dinning cars of its own.
The Santa Fe road is owned by Ameri-
cans, Englishmen and foreigners pener-
ally. 1t has completed scheme to pre-.
vent the squabbling of the several inter
ests.
The Lehigh Valley railroad company
yesterday ordered 1000 coal cars. /. O0C
from the Buffalo Manufacturing COMPANY
and tI00 from the Lebanon MnnnFaat,r