New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-03-22
HOPE OF A TUMBLE IN COAL
THE FREIGHT CUT OF LEHIGH VALLEY
LIKELY TO BE FOLLOWED.

NATURAL CONDITIONS STEADILY PRESSING
AGAINST TIE COAL MOHOPOLY-How THE
COMBINE" HAS HELD Up THE COST
OF Ft.EI-REsIsTING THE TENDENCY
OF ALI. OTHER COMMODITIES
con-. HIGHER THAN IN RE-
CENT YEARs-sIGNs OF
COMING VEL
COME BREAK
A strong ground of hope for a reduction In the
exorbitant prices of anthracite coal maintained by
the coal combination is furnished by the lowering
OF coal freighs Just announced by the l-ehiSh VAL
ley Railroad. This company has placed its rates
from the coal regions tidewater upon n basis
of 10 per cent Of the selling price Of coal in New
York IIarbor To-day the freight agents OF the coal
companies will meet and there is no doubt that me
reduction will be universally adopted The C)l com
bination agents yesterday sought to "pooh-pooh
the action of the Lehigh Valley unmportant.
and IL was declared that the reduction was usual
to the spring season. But among coal men who are
not bound to the wheels OF the big monopoly the
action is accepted foreshadowing an increase In
competition which Will be beneficial TO the con-
sumner
The Importance Of the reductions made by the
IehiCh Valley which likely to be forced upon
the other coal roads. may not be concealed from
wel-informed men. The old rate Of the Lehigh
Valley was an arbitrary toll OF 81 10 ton The
present circular prices OF coal range from 81 to 81 10
a ton or an average Of 50 81. The rate fixed at 40
per cent of the tide water price will be about 81 20.
thus looping off 81 cents ton from the cost OF
transportation While shippers alone receive the
benefit OF this reduction they will be stimulated TO
send coal more freely to market and an Increase IN
the supply will bear heavily on coal prices. es-
pc"!ally in view Of the dull state OF trade and the
accumulation Of stocks in the face OF an UMPIRE
cedented curtailmcnt OF production 10y the combna-
ton companies. The reduction In freight charges
will probably cost the coal roads millions OF dollars
but the public will waste no sympathy on the
monopoly The cry Of the times IS for cheaper coal
and II seems incredible that tn" top-lofty schedule
Of the combination can be maintained when all
come of the masses has been reduced % to 80 per
cent.
THE WEATHER HELPED THE iEopI.E
II seems providental that the weather last winter
worked against he selfish greed ~ the coa! blrons
VINO try to squeeze the last flrihing out OF SUI
fcrlng public Every effort was made by the com
binatlon to keep up high prices. When the demand
fell of production was ruthlcssy restrained in the
effort to bolster up prices. and the last agreement
Of the sac agents Of the anthracite coinpih!es'
mines work t. a reasonable dcve .opmcnt OF the
full capacity. would be- about 550"p0)) tons; Yet
in 1890. by cutting down prod ciion the total out
pat kept down to i3.oss.G7 tons.
SCHEME TO IN IbkI ll'oFliS
This restriction was not ordered to proper
ties from bankruptcy. The big coal companies pay
per cent dividends and have a handsome profit
left over The desperate cNor, Of the coal kings
t. hold up prices was therefore scheme to eNtort
enormous profits. when every other Industry wi9
in the Slough Of Desponl. silver. wheat cotto2
iron and other staple products had gone to H."
loves: figures record The farming Interests ~
the country &: So lite for their cereals that
hf,. nh. -. h .f~.1- at o Of
bushels - the swine. An enormous proportion
Of the silver mines ~ tho country wer" Compelled
a,r,t nining Industry s15TereJ I'm yary,ny ie,r~c
with the miners who were thrown ont 81 work
The iron ani ste-. trades nav" been forced -
slaughter wages In order 70 Keep their plants IN
operation The textile manufactures OF the country
capital and labor Wages rvcrywhore have been
heavily cut, and the consuming power OF the Ma
ton has been enormously lessen"'l Yet. In IN"
face Of universal distress and loss with unprece-
dcn'el engines Of charity put at work amcllora'e
the condition Of The poor the coal companies haye
output Of all the mines
so EXCUSE FOR HIGH PRICES.
The coal men oNcr excuse 81 seeking TO
maintain prices As a matter OF fact. present
schedules about the same they were AZ this
time in 1893. and u TO % cents ton higher
than in 1892 and . 70 80 cents a ton above the
spring price OF 1891 Compared with 1856 the price
Of coal is 80 higher for the large manufacture
ing sizes and % cents TO 81 ton higher FOR domestic
sizes Candid coal men Themselves confess amaze
that they have been able Increase the price
Of coal I'm the face Of the enormous decline In all
other commodities In recent years. II has been
done only by a rigid adherence TO alliance In
conformation Of the laws 81 trade. and by merci
less restriction Of the normal output. The coal
barons have stopped at nothing 10 enforce their
cxtravaglnt charges for this prime necessity Of
NE The great Reading deal OF iS2 contemplated
an even moro powerful! "comb!nc' than the one
which now exists. II rent In twain by the
force % public opinion and the Interference ~ the
New Jersey courts The power Of public opinion Il
being cXrrtri 20 compel the coal monopoly to
yield the tendency Of the times ana place cheaper
iuci In the hands Of consumers who are forced 10y
stress OF hard times to economic In every way.
II II had not been for the smaller but growing
companies Ike the NeW-York. Ontario and Western
and the Ncw-York. Susquehanna and Western the
older and bigger coal companies might have had
face OF an open and mild winter. But the cutting
under the nominal schedules has been Increasing
spring approached. and the reduction in freight
rates by the Lehieh Valley may be- the signal FOR
a ''wlde-open" break I'm the selfish unfcelng and
arbitrary coal monopoly.
\ BROADWAY JEWEILER IN DIFFICULTY
benjamin s. Wise. dealer in diamonds and jew
elry at no. sGl Broadway. Is reported 10 DE In
temporary financial difficulties. and to have given