The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1895-01-28
INDUSTRIAL TOPICS.

The detailed report of the operation
and output of the Connsllsville coke re-
gion for the week ended on Saturday,
Jan. 10, shows 1920 active, and 1854
idle ovens with a total estimated pro-
duction of l46, S4S tons. Compared with
the production of the previous week
this was u decrease of 3,222 tons. In
the active list of ovens there was Il de-
crease of 45l.
Philadelphia Inquirer: THE annual
report of the Delaware, Lackawanna
and Western railroad affords cumulI-
tive evidence of the distress Of the an
thacite carriers. Although the road
transported 49,, ,476 tons of coal as
against 1894. $50 tons In 1893, when the
maximum tonnage was reached, yet the
road failed to cam its dividend for the
first time since the great coal war of
1879. The company reports a deficit of
Sl96, ,656, and its net earnings on the
stock were just G.24 per cent The net
earnings reported for 1894 We're the
smallest of amy year since lSS2-that Is
since the business of the road attained
its present proportions. The significant
feature of the statement is not the
out the country are making less money
than q year ago, but it is that the re-
duced profits were made on practically
the same coal tonnage In only two
years prior to 1894 did the Lacka-
wanna carry more coal than 1t did last
year, and the difference in either year
was not important. The reason for
the bad statement is easily found; it
is the same reason that cut down the
Lehigh Valley until it earned only its
fixed charges, that cut down the Read
ing until lit did mot earn its fun inter
est prior to the general mortgage bonds,
and that cut down the New Jersey
Central until it is questionable whether
it has really earned anything for its
stockholders. That reason is the re-
duction in tidewater freight rates.
Thirty cents a ton has been thrown
away and it is 80 cents in net profits.
1t means nearly $4,000. 900 a year to the
holders of securities of the anthracite
coal roads And the companies are be-
ginning the year with no prospect of
remedying the situation. The contest
is still going on between the companies,
coal is selling lower than it ever sold in
1894 and the prospects are for sill
lower coal prices and still lower freight
mites before this war is ended, and the
anthracite companies are once more
placed ON a proper basis"
Philadelphia Stockholder: "The an
thracita trade situation, i'm so far as it
refers to the effort to readjust per-
centages, is without change and is
likely to continue sO for the next week
or ten days. There is no doubt that the
several interests are endeavOring in
every way possible to better the situa-
tion. The Ilackawannl, of the more
prominent interests, and a number of
the smaller operators, form the STUN
bling-b!ock to an early adjustment of
present difficulties. At the first meet
ing of presidents of the coal roads
Vice President Fahnestock. OF the Jer-
Sey Central, informed the meeting that
If something Were not done, and done
soon. the Lackawanna would not earn
dividends nor the Jersey Central inter
est charges. The latter company is
earnest in its desire to improve the con-
dltion of the trade. and is understood
to be willing to make certain cOnces-
sions. Several other large producers
are in harmony with the Jersey Central
on this point, but their efforts so far
have been handicapped by the indifier-
ent attitude assumed by the Lacka-
wanna ami the smaller operators re-
farred to. a gentleman we'll informed
on coal matters, speaking of the situa-
tion yesterday, said he thought the
various stockholders should take the
matter in hand themselves and teach
representatives that the time for
squandering their money in useless and
profitless competition had passed. Not
one of the presidents Of the coal roads
he said, would take the position they
have and display as much indifferences
to the INTERESTS they represent If losses
came from their pockets, instead of
from stockholders. AS the latter's rep
resenta@ives no longer seem able to
handle the coal business successfully
the gentleman argued that the stock
holders interested should see to 1t that
officials were elected who would do
Justice to their interests, instead of en-
dangering them, as now