New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-09
J. P. MORGAN AND READING.
HE HAS A CONFERENCE WITH THE RE-
ORGANIZATION COMMITTEE.

, BELIEF THAT HE INTENDS TO INTEREST HIM
SELF ACTIVELY IN THE SETTLEMENT OF THE
ANTHRACITE COAL DIFFICULTIES
SALES AGENTS TO MEET TO-DAY.
p Morgan had a conference yesterday with the
members Of the Reading Reorganization Committee
Of the Office of the Central Trust Company AL
though the chairman, F. =. Olcott OF the Reor-
SANITATION Committee, said after the meeting that
nothing definite final had been done, the fact
that Mr.. Morgan had met the committee was gen.
orally accepted indicating that he Will now inter-
est himself actively In the reorganization Of the
Reading property.
II has been known for some days that Mr.. Nor
gan has plan under consideration for the settle
n.ent Of the anthracite coal difficulties. The Read
Ing has long been understood 10 be the chief OBJ
s,acle 10 a settlement Of these difficulties. The
failure of the last vigorous attempt to settle them
has been laid at its door because of its insisting
absolutely upon having certain percentage of the
business The executive officers of other anthracite
roads have for some time been pointing to the Read
ing road as the chief irritating in the stua
ton.
With the Philadelphia and Reading in strong
hands rate-cuttng and questions OF mining and
percentages all expected to be settled satsfac-
torily.
The meeting yesterday lasted less than hour.
j. p Morgan arrived at the meeting at EOS
gan & Co. Others present Chairman F. p.
Olcott, Adrian Iseln. jr. ]. Kennedy Tod. George
n Earle. s. F. Tyler, Samuel r. Shipley. Bernard
Menzer and F. W. Whitridge. the latter counsel Of
the Reorganization Committee The receiver. j..
Iawer Welsh, II had been hoped would also come
from Philadelphia TO attend the meeting. but he did
not appear. None of the Reading receivers was
present.
One Of the committee said before the meeting
that Mr. Morgan had. prior to his departure for
Europe months ago. expressed a willingness
10 meet the committee. but no meeting was at that
time arranged. The war in freight rates among ;he
trunk lines having been settled so satisfactorily.
largely through Mr Morsans good offices he now
troubled anthracite coal situation.
M SS Nhebe1 Mr. Morgan had decided at once
to undertake the reorganization OF the Reading
Nothing has been decided" replied Mr. olcott.
1T merely a conference Nothing conclusive
MIR Wh.tridge said The committee simply ap-
pointed some subcommittee and transacted some
subcommittee not connected with Mr.. Nor
Others present at the meeting refused 70 talk
]. P. Morgan when seen at his office, said he had
statement TO make.
The general sales agents Of the anthracite coal
companies will meet to-day in the Jersey Central
Building, in Liberty-st. The. meeting: Is an ad-
iourned one from the conference OF the agents
It was said Yesterday that one reason for holding
an M Ting n2 had Of no
authority 10 act upon some OF ne questions rsisea
II decided at the last conference tndt the
companies should produce in July 70 per cent OF
either their May June output. The Delaware and
Hudson objected 10 this. but satisfactory agree
ment reached.
II was said yesterday that at to-days meeting a
definite policy may be arranged and that prices also
NAV be advanced. Sales agents. however. who were
spoken 10 said they did not know what would come
up for No meeting Of coal presidents
has been called
II was rumored on the Stock Exchange yeserda!
that over four hundred thousand shares OF Phila
delphia and Reading stock are now in the hands
OF New-York parties who are undersiood 10 bt
favorable to the Jersey Central Railroad.