New-York tribune., 1894-02-11

ITIES HAVE FALLEN - RETAILERS ABAN-
DON THEIR HONEST WEIGHT
SCHEME OF INSPECTION WHAT
COAL MEN SAY IN THEIR
DEFENCE.
The prospect Of a decline in the price OF anthra-
cite coal will be hailed with delight by the thou-
sands who are feeling the severe pinch or the haIu
times. The high price extorted by the combinations
Of the producing companies and the retail dealers
has been felt be onerous by the consuming
public for years bur it becomes more irksome
when wages incomes and investment profits shrink
as they have done in the last year. and especa"y
S the oppression felt when the cost OF the placK
diamonds" is compared with the great fall which
has taken place in all other commodities. The
rieor with which the so-called "coal barons' have
wrung big profits from the public has excited
widespread feeling of resentment, and popular SEN
timent is reaching point where almost any means
for compelling a reduction in the charges on this
article Of universal necessity would be delehued ds
tustifabie by the suffering consumer.
There Is apparently hope that inroads may soon
be made into the close combination which has dlc-
tated the price of coal for so long The defeat OF
the Philadelphia and heading combine IN the
courts of New-Jersey in 1891 has set the seal OF
legislative disapproval upon the monopoly. and the
coal companies unable 10 control the anthra-
cite output by means of leases or consultations
The control of the trade is sought to be held by
agreements among gentlemen, but there are
signs that the strands of this new arrangement
are breaking. The larger coal companies complain
that circular prices are being cut. and the New
York, Ontario and Western and the New-iork
Susouehanna and Western railroads are reported
to be pushing their coal traffic at the expense OF
their older competitors The comparatively mild
winter weather has been great aid 10 the suffer
ing consumer. II has checked TO an enormous
extent the consumption of coal. and has led to
accumulation Of stocks in the hands or middle
men and in on the tracks Of the transporta-
ton lines. People buy coal only for immediate ne
cessity and fortunately the storage capacity for
the article soon becomes exhausted.
THE DEMAND is LIGHT.
The demand is light. compared with the
production, that the companies which make con-
cess,ons from established prices get the best OF
the business, and If once pressure TO sell should
begin from the of supply the wholesale and
retail trade would be forced TO moderate their
charges. a lively war in the coal trade would be a
contamination devoutly wished for by the millions
who must rely upon anthracite for the means Of
warming their homes and conducting their house
holds.
Financial men have long wondered at the ability
of the coal managers to keep up the cost OF coal
when every other commodity was tending down
ward under the stress of the extensive business
depression Wheat has fallen to the lowest price it
ever touched and the vast farming interests of the
Nation suffering from the effects Of the de-
preston. Corn and other grains are also pract-
cay at the bottom points. Cotton is selling on an
extremely low basis. Petroleum Is almost as low
as 1t has ever been In spite Of the Efforts Of the
Sugar Trust. sugar In the market IS cheaper @ than
modify has fallen sharply in the last year. and
there Is prospect OF an immediate Improvement
In the face OF this general shrinkage In values the
price Of coal has stubbornly been maintained. to
the amazement Of all observers. Specious argu-
ments are advanced TO defend the course Of the
coal producers and dealers But the fact cannot
Se IN 'Pat Pac it had not be0 for e
practical combination of the producing companies
In restraint OF competition
SOME CONCESSIONS MADE.
For years producers independent OF the great cor
porations were compelled TO pay such exorbitant
charges for freight rates the railroads that
troll the bulk Of the coal output that they could
not enter the field of competition with free hands
Concessions have been forced some extent from
the railroads. that the Independent producers
becoming more important factor in the dis
tributon Of the supply But the power OF the big
c9mRanies is sun so great that production is cur
"shutdowns. in order to keep an excessive supply
corporation like the Philadelphia and Reading pre-
fers to attempt an escape from bankruptcy by
instead OF boldly selling It's great product at fair
price and adding to Its revenues enormously.
pioyed persons. for those who have had income or
wages reduced. and only the blessing of open
with other sommodtiss les that have faI~.n in value
panes which control the mining corporations @ in
their respective anthracite districts reluctant to
appear in public as defenders Of the price of coal
The general assertion was made, in response to
held by the coal magnates however were gen
orally in accord with the statement made by a
high executive officer OF the Delaware and Hind
son Canal Company, who said to Tribune re
there is reason why 1t should be affected by the
decline. in other commodities which are governed
by entirely different conditions Here are the cir
cuar prices OF the companies: Crate, 50 80 a ton.
against 81 In February 1888; egg "a. against 81 40;
stove S40 against 81 rs: chestnut $40 against
81 IS last year The reductions range from 10 to 40
cents. II must be remembered that the cost OF
coal mining increases the depth becomes
greater and there must be sinking fund allow
for the depreciation In the value OF the prop
erty. which goes with the taking of every ton
Of coal. The wages of labor in the mining regions
have remained without change for years. 1t
would be impossible TO buy coal lands In the Penn
sylvania REGIONS to-day and make any profit in