The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1895-03-28
INDUSTRIAL TOPICS.

| The price of coal in the Hooking valley
region has been advanced cents a ton.
A gentleman closely Identified with the
Olcott- Reading committee says that Presi.
dent Harris has instructions from the
| committee to insist upon n percentage
| minimum of the anthracite coal business
| of 2l,3 per cent; If he accepts anything
| less than this the committee will want
| to know the reason.
Evidences of coal have been found in the
mountains north of Mifiinburg and an ef-
fort to find a vein is now being made The
people living in that locality have raised
fund and have engaged prospectors and
drilling apparatus. According to a geo.
| logist who examined the mountain at diff
| ferent points there is a vein of coal some
where about Miffiinburg.
| Philadelphia, March 27.-The newly
| elected board OF directors of the Pennsyl-
vania Railroad company met this after
noon for reorganization. No changes
We're made in the personnel of the organi-
cation and President Roberts was unani-
mcusly reelected The total vote cast at
yesterdays election for directors was 9l3,-
| 603, the largest ever polled. Last year the
vote was 7SS,3SS shares.
Shipments of btuminous coal over the
Huntington and Broad Top railroad last
| NE'-h, WI t4lc llOL dS IledNS us uuElHS ltlt
| preceding week, were nevertheless quite
large, aggregating 35,79S tons, or 7,04S tons
in excess of shipments for the correspond
ing week last year. This brings the total
| shipments for the year to date to S9O,l4
tons, against 352, ZIG tons for the same time
last year, an increase of S7,I31 tons.
Tho anthracite situation Is thus stated
| in q sentence: "One dollar a ton added 20
! present prices means $i3O0O,OOO year. If
the companies even maintain the average
| price for the last ten years they would be
gamer by nearly $i3.OOOOOO q year. 1t
| is the clear perception of these facts which
| Is making the members of the trade more
anxious to agree upon some definite pol
| Icy. 1t may not be done this week or next,
| but 1t will be done before long"
The presidents OF the eastern bituminous
coal roads will hold a meeting at the Penn
| sylvania railroad Office in Philadelphia
today to endeavor to arrange pool for the
government of the soft coal trade this
| year. The idea Is to alot to each company
q percentage of the tdewater trade the
line trade not being interfered with. II
| this matter can be settled satisfactorily It
| Is proposed to advance freight rates
| slightly above the rates charged last year.
| The percentage question, however, will he
| considered first
The Pennsylvania Coal company are
about to make an experiment which will
be watched with interest by every mine
| worker The smotherng OF mine fires
has always been considered very uues-
| tionable proceeding and it Is the result of
| a test of this kind that the company Is
| now going to reveal. Twenty years ago n
| fire broke out In their No 3 mine near Mt
Carmel The fire got beyond control and
all ordinary methods were exhausted. IT
| was not practicable to flood the place 80
| the smothering process was resorted TO.
| The gangways were closed up, all cracks
and crevices sealed as nearly air tight as
they could be gotten. For twenty years
the place has thus been allowed to stand.
Now they propose to reopen the gangways
to see whether the fire Is out or stln burn
| ing.
| New York, March 27.-A member of the
anthracite coal committee of five, ap-
pointed at the meeting of the anthracite
| coal presidents on Thursday Of last week.
| says that the committee has made prog
ress with the work. but that It's labors
were not concluded yesterday. The mat
ter under discussion Is OF very delicate
| character. and the committee has been re-
| quested to observe unusual precautions
| that no Information be given out until the
report has been submitted to the presl-
| dents on Thursday. Reports of n special
| arrangement between the Reading and
the Pennsylvania railroad companies may
be dismissed as imaginary. 1t must also
be understood that no demand by any
company will be tolerated by the coal pres
idents as body. In whatever is done,
compromise and n regard to the general
interests will be the order of the day No
Improvement in anthracite coal prices Is
discernibe.
The Philadelphia Inquirer thinks that "lf
| Mr.. Sloan or Mr.. Harris or Mr. Olyphant,
who have been In the coal business ali
| their lives, were to set about the task of
saving the coal trade, backed by the re-
sources that are behind the New Jersey
Central party, there would be good rea-
son to look for the attainment of salts
factory results. But Mr.. Maxwell Is new
to the coal trade; he came In 1t in 1887. and
he has never known n time when the busl-
ness was anything but prosperous. The
years since 1887 have all been good. II Ia
n significant fact that the experienced
men In the trade are not hopeful OF a set
tlement. and the only way out seems TO
be through some gigantic speculative
operation, such as a combination by
merger or lease OF some OF the companies.
or this there seems to be little prospect.
In spite of the rumors circulating In New
York that the Pennsylvania railroad Is
back Of the deal and has obtained O. foot
hold in Reading"
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