The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-04-19
THE PRESENT COAL SITUATION
The Recent Heavy Advance in
Prices and Its Causes.
THE CLAIMS OF The READING
Not in Many Years Has the Anthrac tie
Goal Market Been in SO Unsats-
factory Condition as Now.
The Companies Unable to
Agree on a Plan of Relief

No5 III many years mas Une anrur,tr,tv
coal market been i'll so unsatisfactory a
condition as it is today, and the reason
is not far to seek The responsibility
lies with tho companies which are I'M
able to agree on plan whereby utter
decentralization may DO overted.
The sales agents held meeting in
Now York recently and advanced prices
The Immediate effect OF tho advance
aud Of the subsequent disagreement
among the presidents has been to check
orders. In the east the market, which
has been more or less demoralizcd as re-
cards prices, has also become very Aull,
as buyers do not seem to think that tho
advance can BIO maintained.
Tho now figures are being held quito
firmly by the companies. Tho unauim-
ity with which sellers admit that they
are doing little or no business just now
is ut once unusual and alarming.
The companies hnvo succeeded ADM.
sably in infusing still more uncertainty
into condition Of affairs which ur-
gently demanded tho reverse. They
have done this for many months past,
with profit to themselves.
At meeting of the presidents of the
coal transportation companies it was
decided by the majority to submit tho
question of allotmonts to arbitration by
diHinterested and impartial outside par
ties, and committee of five was mp
pointed to select the arbitrators.
Considerable ill feoling is noticeable
in the trade anent the expressed deter
mination Of the Reading to obtain nn
allotment of 81 per cent and to refuse
TO submit the matter TO arbitration.
The mnlcontents. which means all the
companies except the Reading, say the
Reading claims that it hos IS per cent
of the total coal area and 33 per cent of
the total coal. That being tho case, rs
everybody admits, why does the Reading
refuse to arbitrate? 1t might DO award
cd more than 81 per cent, If man is
right and knows that ho is right, no is
not afraid of arbitration. The Reading
is afraid-ergo, tho Reading is wrong
and knows that it is wrong to demand
an allotment of 81 per cent
The whole question, therefore, re-
solves itself into very simple matter.
The overwhelming majority of tho COM
panies profess their Willingness to sub
NIT the question of allotments to arbi-
tration. Tho Reading however, re-
fuses to let the fact Of its financial en-
barrassment deprive it Of what it con-
siders its just due.
If everybody should produce adj hbi-
tum, as it now looks probable, prices
are bound to drop. for tho productive
capacity of the oollieries is far in ex-
cess of the consumption. If prices drop
much lower, and at tho Same time tho
freight rate remains unchanged, it sim
ply means loss on every ton of coal
mined.
The somewhat depressing prospect
(which we have outlined above depends
OF course upon circumstances. 1t is
possible that some understanding may
be reached and Decentralization averted.
But as an ironolad trust " is impos-
sible recurrence Of tho present trou-
bies in al aggravated form is inovita-
pie. --Engineering and Mining Journal.