New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-04-07
THE COAL SITUATION.
TALK ABOUT MEMBERS OF THE ARBITRA
TION COMMITTEE.
VIEW THAT No PERMANENT AGREEMENT CAN
BE REACHED AND THAT THE WAR MUST

. VIEW THAT No PERMANENT AGREEMENT CAN
BE REACHED AND THAT TIE WAR MUST
ZEE FOUGHT OFT.
-. sutu hitting the differences to an arbitration
committee the anthracite coal presidents have
taken a course which it is believed will place the
anthracite coal trade satisfactory ami equita-
lie basis TO all the interested companies. II was
learned yesterday that the committee OF presidents
which was appointed to select arbitration com
mittee would probably appoint Charles Francis Ad-
ans and Albert Fink as two Of the members.
The following interesting remarks on the coal
situation were mad, yesterday by man vino has
been for over twenty-five years in the coal trade
and thoroughly understands the prevailing conii-
tons:
the trade Cor ton years. and even the great break
OF 1879 was not much worse. There j. today a3s'-
micv no regular price, each transac elton being ON Il
basis OF us own The large companies seem utterly
at SEA. without compass or pilot. and apparently
presidents have met. and met again. plans nave
been discussed and quotas talked over. committee
have spent weeks IN preparing figures. yet tn" SO
luton is nearer than a year ago. when inc
Now. as To- the causes. These may b. slmme
up: First-The building OF new roads into the coal
sT notably ihf Vn!aG ana w Mrsiern ana en-
sion. Second-The general condition OF the coun-
try. particularly the manufacturing indnsitie =
being sold. The frs; is more or .css compli-
Gated Lv iealousies natural to the fact and by
events which grew ont of The breaking OF the Read
ing lease Of Jersey Central and Lchgh Valley. All
three OF these companies have been ever sine" ight
Ing for the trade they had jointly. with consequent
cutting OF price and breaches OF falth
A year ago. when this fight first began, the trade
was saved To some extent 10y the great strike of
bituminous coal miners which occurred on May !.
and preparatory to which much coat was taken
in BY consumers. This strk" extended through
May June and into July and during June the
greatest tonnage OF anthracite ever mined I'm on"
month was reported. All the anthracite miners
and carriers benefited very largely by this STRIKE.
and in estimating the future this TACT must h'
taken into account The companies must face tho
fact that the tonnag" to be mined during the next
three months must be very largely reduced from
last year. This coupled with The fact that present
prices from ~ To - cents per ton less man were
obtained at this time year ago. must max" Il ire
mendOuS difference in the earnings OF INC com
pdncs. This loss in tonnage must be FACED apart
from the question OF price. and whichever way the
question is viewed those familiar with the ncr"ss-
ties of some OF tn" companies So" great troub"
ahead for even those companies whith mp 10 TINS
time have paid dividends
All the coal-carricrs are stocked ana bonded on Il
basis Of large tonnaEcs ana price at least s. per
clear. one may So" what dimcuIt quest 81"
f. before the presidents. ana also why no settle
mcnt Is I'm sight How can large tonnaGcs be re-
tanned hv the older companies against ia" .nrodds
OF their Younger rivals. and how On prices BE- al
vanced 81 ton In face OF the low pric" Of all
food products and articles entering into manu-
facturcs1 Ny view IL that no permanent settle
ment is poss ble a. this time. truce may 10
declared although that looks improbable now. but
I'm the end the must hr fought out. When
one considers tho high rat" per mil" AZ which some
o. Tho coal companies ar" stocked lnd bonded and
iustrnont Of stock values is imperative and In