The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-08-18
A VERY BIG DEAL MATURING
Capitalists Planning the ReguIa-
tion Of Anthracite Coal.
Gain Control of Railroads Which
Mine as Well as Transport. When
Reading is Reorganized the
Scope of Combine Will Be
Unfolded. Loss Great.

A development Of tho near future OF
the highest Importance from II specula
tive standpoint will be the termination
Iof the decentralization which now exists
in the anthracite coal trade. Tho trou-
ible in this trade is not decreased con-
sumption, but instead an excessive pro-
,duction, with consequent breakdown
in prices.
HID the prices for coal which were
received in the first half of 1894 been
obtained in the first six months of 1895
tho freight revenue would have been
l$26, 035, 03S, or an increase of $3, ore,
I2GG. Had the prices which We're received
I'm the first half OF 1898 been obtained
lin 1895 the freight revenue would have
fbeen S27, 6SS, $50, or an increase OF 81,
zee, 2S4.
The loss ON coal and freight together
for the first six months Of 1898, as com
pared with the corresponding period in
1894, was S1,Ga0, Cos, and the loss rs
compared with 1898 was $ll, 623,2l0
The first step toward tho regulation
of the anthracite coal trade is TO be- the
perfection of plan for the rcorguniza-
tion of the Philadelphia and Reading
railroad, which is the principal produ-
Ger and carrier Of coal
This road is the key 10 tho situation
and with that knowledge powerful
combination Of capitalists have nccu-
mulated II majority of its capital stock
and will appear III control of il when
the scheme for the rcadjustment of its
finances Is cOnSummatcd.
The capitalists III the combination are
tho chief owners of the stocks of the
Delaware, Lackawanna and Western
railroad, the Central Railroad of New
Jersey ara the Delaware and Hudson
Canal company. In addition they have
recently attained dominating influence
in the management Of the New York,
SusQuehanna and Western railroad
Tho undertaking of tho capitalists is
q stupendous one, but their resources
are so vast that there can be no question
rs to their ability to carry it out.
It became necessary for them to &c
quire control of the Reading road and
to assume the regulation of the coal
trade III order to protect their interests
III tho Now Jersey Central, Lackawannn
and Delaware ana Hudson companies.
There is possibility that they will
sccuro control of the Lehigh Valley
road. bnt this is n point on which de
cision has not been reached. 1t is known
that tho Packer estate is willing TO re-
linquiSh its holdings of the stock OF tho
Lehigh Valley, which are sufficient to
afford the ruling voice in the affairs of
the road
Tho Lehigh Valley handles the larger
share of the output Of the individual
mine owners, and is, therefore, lead
ing factor i'll the coal business. Should
the actual possession of the rond not be
obtained, arrangements will be made
for its cooperation in the project in
hand.
The coal trade deal has been in prog
ress for long time 1t is thing that
required months Of negotiation ana
work, but 1T is at last approaching con
clusion. Its details will be made public
when tho programme for the rehabilita-
ton of the Reading road is ready for
announcement, and in this matter there
is no reason for much further delay.
New York Journal