The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1895-07-23
news OF OUR INDUSTRIES
Happenings OF Interest to the Staple
Trades aud Particularly to tho Trade
in Iron, Steel aud Anthracite Coal.

The employees of the Drifton shops,
who have been working but nine hours
n day ard five hours on Saturdays. on
MONDAY began on full time.
Gross earnings of fOrty-four railroads
for the second week of July. 1895, are
computed at si.S36,l54. against $3,74l. l29
for the corresponding week of 1894, a
net increase of sl0g2, OPS, or 29.l7 per
cent.
Reading coal 1t Is said is being Of
fered in New York at pronounced re-
ductiona from circular rates, and at
prices which make other companies feel
that there is no money in II for Read
inS and against which they do not wish
to compete.
Lancaster, Pa, July 22.-The wages
OF the puddlers of the Columbia Iron
company were increased today from
$3.50 to 81 per ton, and the pay of other
employees was advanced proportionate-
ly. The increase affects five hundred
men and boys.
II is stated that the Buffalo, Roches-
ter and Pttsburg road Is landing bi-
luminous coal in the New York market
at S2.O5 per ton, which is away below
previous prices. Chesapeake and Chic
is also delivering coal at very low
rates. The coal brought by Buffalo,
Rochester arGd P.ttslburg is shipped
from Rochester by canal The canal
charges are 65 cents ton, which leaves
very little profit If any. to the carrier
and producer of the coal.
Philadelphia, July 22.-The fifteen or
more leading ingram carpet manufac-
turers whose employees are on strike,
this morning opened the doors of their
mills in anticipation of a partial re-
sumption, at least. The proposition of
the manufacturers was that the strlk-
ers return to worl; now at the old scale
and continue at this rate Of pay until
Nov. l. when the 7la per cent increase
asked for would be granted. This was
rejected by the strikers however, and
none of them returned to work
Engineering ard Mining Journal:
"The independent operators are blessed
with zoo much common sense to make
threats or to pursue the dog in the
manger policy which has character
ized the actions of some companies.
They are willing to DO anything in the
way of restriction or adherence to fair
prices. They do not fix the blame for
the present condition of the trade upon
any one company, but they propose TO
find out just where the cause of the
trouble lies, and to devise or suggest
means of Improvement. A committee
of three has been appointed to study
the matter carefully. There is no gain
saying the fact that the Independent
operators have 1T in their power to eff
feet considerable good in this direction,
and we shall follow their movements
with interest"
PHILADELPHIA StockhOldSr: A leading
coal company is offering stove coat a't
$275, New York harbor. There are re-
ports that sales have been made as low
as $3.50. 1t is undoubtedly true that
considerable can be bought at $3.50. In
view of these facts it is pertinent to
recall the position of the trade and the
market for anthracite stocks in 1871,
whea, the famous auction sales of coal
occurred In Exchange Place, New
York: this was on July Is. 1877. Prices
established were s2.45 to $2.S5. At tina.
time Jersey Central was selling al 4
Lackawanna at SO, Delaware and Hul-
son at 80. Erie at 6. and Lehigh Valley
at so. Coal prices did not improve un-
til October of that year. when they ad-
vanced to $33j and $3.50. In Decem.
her they fell ito s2.35 and s2.G5. Sof;
coal !s now being sold alongside al
New York at 50 per tCGlr-about the low.
est price ever recorded.
Officials OF the Lehigh Valley railroad
take exceptions to several statements
sent cut from Wall street regardine
their company. "The FIRST" said one ol
tLiem, "repreEerts the sale of Lehigl
Valley coal bonds as one of the steps
contemplated in bringing about the
termination of the Generalization ir
the coal trade. If it has any influence
hD that directions we shall, of course
rejoice with Others. The option, how
ever. as given last spring. ran unit
April. 1896. and purchase by the bank
crs at this time was not expected, ant
the option given them could have hat
no possible bearing upon the current
situation. This company Is alst
charged with selling coal too low, be
cause of its need of money. This, too
Is untrue. Sales agents have beer
guided by competitive conditions of thu
market solely, and sales have bee,
made on usual credits. The third state
ment is that the Lehigh Valley tool
grain from Buffalo at prices which
made the trunk lines do business at 6
loss. The lowest rates for carryin,
grain this season have been made b,
two of the New York companies. one o
which set the pace, and the o,'her fol
lowed. The Lehigh Valley, recognizin,
| the unprofitableness of this busines,
early in the season, declined to accep
the rates made. Especially as It wa!
| gatting fair share of other classes o
business at more remunerative rates.