The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1895-08-20
NEWS OF OUR INDUSTRIES.
Happenings Of Interest to tho staple
Trades and Particularly to tho Trade
In Iron. Steel and Anthracite Coal.

The New York Times estimates that
the wages of $4,000 persons has been
advanced during the recovery In busi-
ness.
The Ontario and Western, for year
ended June 30, shows gross earnings of
s.. .659. .1l3. a decrease OF $l73,0O6; operat-
ing expenses. $2.540.252. decrease of
$S7.627; net earnings, $l,l2S.S6l, de-
crease Of $S5.379. and surplus, $326,3S2.
a decrease of $93, lSi.
A scarcity OF coal cars Is complained
Of on Ohio. Indiana and Illinois roads.
and railway officials say 1t Is due to the
fact that all box cars. many of which
have been used in hauling coal. have
been repaired to be used in grain SER
vice this fall and winter.
Philadelphia Press: There has prac-
ticafly been no new business In coal for
some time, except at decreasing prices.
until now the lowest point known has
been reached. There have been many
dispatches from New York to the ef-
feet that coal advanced IL to 80 cents
last week. Some sizes of old Lehigh
coal, which Is always from Is to 40
cents above the price Of ordinary coal,
are scarce, and probably an advance
has been paid for them. burt this does
not reflect general trade conditions.
There Is more coal above ground than
ever before. 1t Is estimated that the
Reading has more than 900.0OO tons OF
coal on hand. and the other companies
are in a similar condition. Taking this
fact into consideration. with the fur
ther fact that although the production
exceeds the demand for coal, no agree
ment can be made to restrict 1t, and
that buyers of coal fully understand
the situation, 1t Is easy to form judg'
ment of the condition of the trade.
There Is no movement now on foot to
settle the differences between the great
carrying companies, though the fall
trade ought to begin soon.
Pottsville Pa, Aug. 19.-The Thomas
Coal company have struck the Lykens
vein at their colliery In the Shenandoah
Valley. The vein has proved ~ feet of
good coal. This is a new discovery and
will be source of much wealth to the
land owners in yhat velley, among
whom are the Philadelphia and Read
ing Coal and Iron company and the
Girard estate. The vein was inter-
sected after tunnel was driven 500
feet. Many of the coal authorities have
heretofore held that the Lykens vein
did not underlie the other coal seams
in this vicinity. but the ThomasCoal
company management are now satisfied
the theory has been wrong.
Pittston Gazette: The price of pea
coal is going up. Not many years ago
it could be purchased for from fifty
cents to 81 a ton. OF late 1t has sold for
$l.50 at the chutes, and now the talk
Is that the companies have agreed to
advanced the price to 81. Other small
sizes of coal have likewise increased in
value as modern appliances render
them useful as fuel. Buckwheat costs
81 and birds eye, where 1t Is handled,
can't be bought for less than so cents
a ton. Even culm commands good
price. All Of which is to the operators
advantage. 1t isn't many years since
the smaller sizes Of coal We're consid
cred of little value-so little, in fact,
that under all OF the old coal leases no
royalty Is paid by operators for any
coal smaller than chestnut and large
size pea coal. These leases, of course.
continue to hold, and the operators get
for nothing the smaller sizes of coal
for which they now receive big sums,
and the coal Cwner Isn't in 1t.
Engineering and Mining Journal The
proposition to lease and operate on
royalty the Readings collieries Is by no
means a new one. but even II II be ac-
cepted-and there Is much to recon-
mend it-there are many other things
to take into consideration before the
trade as a whole can be placed on a
sound basis for profit earning. The
Reading is not the only coal railroad
that needs recognition. although in the
case Of the others the necessity Is not
SO glaring. The perniclous practice of
publishing misleading reports is an old
one, and II a careful analysis of the
Philadelphia and Readings true condi-
ton would. I'm spite of what everyone is
prepared for, create a sensation, a SIM
liar analysis of the condition of the Le-
high Valley, Delaware and Hudson.
Jersey Central and Delaware. Lacka-
wanna and Western might be no less
interesting to many people. No practi-
cal working plan can be arrived at
unless the true condition of all the COM
panies is definitely ascertained. It Is,
after all, the lack of such knowledge
that has rendered futile all previous
efforts in that direction, for be 1t re-
membered that not one of the COM
panies Is willing to acquiesce In any plan
in which the claims of its competitors
are based on the showing made I'M their
annual reports. We do not mean to
imply that the officers of the coal
carrying roads are guilty of wilful mis-
statements, but many of them may be
Justly accused of making misleading re-
ports.