New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-03-09
HOW COAL Is KEPT HIGH.
RESTRAINING PRODUCTION 20 PER CENT
IN a BIG YEAR.

PRESENT RESTRICTION OF 80 PER CENT PKAc-
rIsED-pnIcEs HIGHER THAN IN YEARS
WELCOME SIGNS THAT THE CoMBINA-
TIoN MUST YIELD TO THE PRES
SURE or TRADE CONDITIONS.
It will be gratifying to the consuming public to
learn that there is a prospect that the Dig COM
bination OF anthracite coal companies may be
forced to make some concessions in the price OF
coal at the opening of the spring season TO the
STRUGGLING Door who have suffered through the
winter from the extortion OF the coal magnateS the
talk Of a spring reduction sounds almost IKE sdf-
casm but in trade circles the significance OF 'he
opening season Is well understood In the carry
part Of the year the mddlemen and retailers MAKE
contracts for future delivery, or establish OASIS
for future "dlcEering" and If the coal companies
can be forced to a low level in March and April
there is better prospect that in the succeeding
winter months the limit Of charges may De kept
down. Only by controlling the spring market
prices and a greatly diminished production can
the coal monopoly hope to keep sway over the
trade Of the following winter So 1t is now cr1u-
cal time for the coal combination. and the develop
ments Of the next few weeks may have an I'M
portant bearing the years results 10 'he coa'
consuming manufacturer or householder.
Tho present condition of the coal market IS I'M
satisfactory to the big companies that nave peei'
paving enormous nlNncNnS 10 SiiN'HoiHN'" "''''
shrinkage OF income hes taken place IN every other
dircctIon They find that outside companies like
the New-York Ontario and Western and the New
York Susquchanna and Western are bulldihS up
a big trade by selling their products at prices 10 10
. cents under the circular prices. These cuts are
made in spite OF an attempt to sustain the market
10y restriction in output OF 80 per cent and II they
cannot be controlled those "cuts' VIII soon force
the elephants Of the coal monopoly TO consent TO
general reduction in prices. There have been times
when even those corporations engage In warfare
that rebounds to the advantage OF the numerous Vi
thousands of persons who must warm their homes
with the fuel taken out Of Pennsylvania mines ~
half-starvel miners.
LAWS or TRADE SET ASIDE
I: has been source Of amazenent that the coal
combination has been SO long enabled to DEFY the
effect of conditions which have affected common
ties in general 1t has been done by more sue
ccssfn interference with the laws OF trade than was
ever attempted hy union ~ capital Coal prices
have stayed up. while silver OIL wheat cotton
and other commodities nave fallen to the loves
figures ever reached. Freighs coal have had no
reduction. while rates Eastern Western ana
Southern railroads have for years been steadily
tending downward. Whether Il has been the silver
ore shipped from Leadvil.e to the nearest sme!ter,
or the bullion carried from the West 10 New-fork
for export 10 Europe the wheat taken from Mime
sofa t. the scaboard o. the sh-etngs sent
from England mills to the West-all
articles OF consumption have received the benefit
of declining rttss. But coal. dug from mines within
few hundred miles OF New Ork. comes 70 the cor
sumner 1T rates that have varied little In years. The
close relations between the producing and the trans"
porting companies engaged In coal traHle explain
whH this resistance 20 the universal tendency of
freight rates downward has been Successful. In
on cas-. producing company may swallow w
the dec; OF the carrier in its surplus or in another
case like that OF the Philadelphia and Reading
system. the deficit Of the producer may be dumped
upon and then the investor be freed from
bearing any net resulting deficit in the form OF a
periodical! Bankruptcy.
4 COMPARISON or PRICES.
\ glance A. the prices Of coal maintained for years
past will give some idea Of the vigor Of the comb-
nation that rules the market for BLACK diamonds"
Circn,a~ prices at this season of the leading coal
companies for the years named are compared in
the following table: