The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1894-10-29
COAL SITUATION Reviewed
Present Unrestricted System Is Not
Necessarily Permanent.
TALES OF AN OPERATORS WAR
Reliable Information Of the New York
Meeting Where Opinions Differed But
Which Ended in Harmony-Lower
Prices Are Looked For.

SollSlueTdDie interest ana comment
has been aroused in this city and other
coal centers by the exaggerated and
over-colored reports of the recent meet
ing of the anthracite operators in New
York. The announcements in New
York and Philadelphia papers particu-
larly that coal war" was impending
and that cut throat prices and blood
letting would prevail, seems to have
been occasioned by decline of anthra-
cite stocks in Wall street and the
Vaccinations Of spectators. Certainly
the reliable information possessed by
The Tribune of the New York meeting
does not coincide with the promised
calamity developments.
1t is true that there has been de-
cided change in the purpose and policy
Of the anthracite interests. Instead of
restricted output it has been left to
the individual option of the operators
what tonnage should be mined. No
time has been specified during which
the new system shall prevail, but if it
proves Unsatisfactory to continue the
output under the policy of unrestric-
ton a change will be made. This does
not necessarily mean that the operators
will return to the old system, Men
whose opinions are greatly respected
presented urgent reasons why the un-
limited policy should be tried, but IL 1t
is not found feasible provisions may be
made for continuing along the same
line but with modification.
The Situation Reviewed.
The anthracite interest is made up
OF all the railroad companies and larger
concerns which produce nearly the en-
tire output of coal. In financial circles
their organization is known as the an
thracite pool. Until recently each COM
pany by agreement was allotted a GER
tain percentage of coal to be mined
Each month the restriction was made
Tor the month following. The Phila-
delphia and Reading received the larg-
est percentage, about 21.5O per cept =,
ana the Lehigh Valley and Jersey Gem
tral came second and third.
Recently several new railroad COMMA
MES were refused admission to the pool
ana about the same time the Delaware.
Lackawanna and Western applied for
a greater percentage allotment. claim
ing that 1t could sell all the coal il could
mine. By reason OF its excellent ter
minal facilities in Hoboken the demand
OF the Lackawanna seemed reaonable,
but there was a decided disposition on
the part of other members not to give
the Lackawanna company the large
percentage 1t asked. Rather than sub
nit to small tonnage the Lackawanna
was among the most pronounced advo-
Gates for an unlimited output, and
rather than make any p >ccentage con-
cessions several other la \S producers
| supported the change.
The assertions that the Nit was
solely due to the Lackawanna \fforts,
that last weeks meeting was of
hard words and excitement, or lat a
| return TO the coal auction condition of
| 1876 is imminent, are incorrect. That
the meeting was harmonious is shown
| by the agreed schedule of prices at
tideWater: Egg, nut and crate, $3.50;
store, 1918. This Is an advance of 25
cents over October prices and is rs
cents per ton higher than at this period
last year. 1t is the current opinion in
Wall street and is reported in the metro
politan newspapers that the advance in
prices possesses no significance and that
there is no reason to believe that any of
the companies will maintain the sched-
| uled figures. 1t Is alleged that the an
| thracite war Is actually begun and the
| producing companies will mine and sell
as much coal as they possibly can with
| the result that prices will shortly be
seen at considerably lower level.
As Viewed In New York.
The New York view of the situation
is substantially illustrated in the fol-
| lowing ettract from the Commercial
| Advertiser:
This state of things existing, 1t Is
nj W proptr to remark that at the meet
ing of sales agents held yesterday a
more extraordinary fiction was gotten
up for the public than has been put out
in a long time Bearing in mind the
fact that there are already large stocks
of coal at many points, and that prices
are extremely unsteady, the sales
agents, with fine sense of the ridicu.
| louS, announced to the public that they
| had voted an increase of % cents an6
| Is cents on the May circular of prices
| which has been consistently diSre
| garded ever since 1t was put out
Furthermore, lest there should be any
| doubt as to the efficiency of this methot
of graphing with the trouble 1t was
announced at the same time that tht
companies would mine coal during
November up to their full capacity.
"This means one thing, and one thinl
only, and that is coal war. The ad
vance ordered in prices is simple non
sense, as prices were not within s.
cents ton of the May circular. TIL,
increase, or rather the absence of limi
of production, for November is wher,
the trouble will come in. The question
at once Uses what Is the meaning o
it?
ut may be done with the idea o
heading off at once any possible trouble
from Reading and with view of i'm
pressing people in general with tn
power possessed by one or two of tn
important companies, of producing Goa
at ruinously low prices For years pas
Lackawanna, has been trying to hid
it's profits by manipulating operating
expenses so as to keep its admitte,
profits as low as possible. 1t has spen
large sums of money out of operating
exp enses for the purchase of more Goa
lands, and could at any moment Gu
its operating expenses 10 per cent Non
of the other companies are so favorabl,
situated"