The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1895-03-05

organization in u demand for an advance
| in the price for bituminous coal that the
miners may receive an advance in pay and
an end be put to the great distress which
now prevails throughout the bituminous
mining districts. They advocate the adop-
ton of u plan for one selling agency for
all the producers; that this agency shall
have the power to make all contracts and
to name the price at which coal shall be
sold; that 1t shall distribute the sales
among the producers along the lines of
the various railroads in proportion to
their average tonnage as shown for the
years 1892 and 1893. This would end the
destructive competition which has existed
in the trade for the last five years. 1t Is
said, and which has been particularly Sc
we're during the last eighteen months. 1t
is declared that under this plan an ad-
vance can be secured of from % to 80 cents
a ton and that a sliding scale can be ar
ranged with the miners which will enable
| them to participate in the results of the
advance. 1t is also declared that the pro-
ducers and railroadsl will largely increase
| their net income.
The Jersey Central road reports for the
year 1894: Gross earnings, sl2,659, 9il, ae-
crease of 81 .0l5: net, "a, POI G36; decrease,
| $l.629,26S; other income. 81, ,3Y7; increase,
Sll7,S62; total, $5S63 033; decrease, sl,5ll i0s;
interest and rentals, $,45O,9i6 decrease,
1904, 7OS; balance, 1892 0S7; decrease. $l,205,-
| 7O3: dividends, Sl,5i7g0: increase, SGlS; de-
| icit, SGl21OS, against suplus 1ast year OF
1854 6iS, an increase In deficit of 81, ,207, ,35l.
President Maxwell says that of the de-
crease in gross earnings in 1894 $l,5l1,9o2
was due to smaller receipts from trans
portation of anthracite coal, $3i3 1853 to
| shrinkage in passenger receipts and the
remainder to reduced merchandise re-
Ceipts. The reduction in operating eX-
penses We're in great part In the coal de-
partment The expenses cover, as hereto
| fore, all expenditures for repairs, and in
clude 1927, ,522 charged for reduction in
value of equipment and other property,
| together with S229, ,O79 expended for renewal
of bridges, substitution of heavier rails
and other extraordinary outlays. the re-
quirements for which in the ensuing year
will be very small. President Maxwell
says: Regarding the situation as tenn
| porary one and due largely to general
| trade conditions throughout the country,
the board felt justified in continuing
| through the year the payment of the reSu-
| lar per cent. dividend" In 1894 the COM
pany earned 4.5S per cent. on the stock
against 9.72 per cent. In 1893.
Here is another Philadelphia view of the
case, aslo advanced by IA prominent
operator" I'm my opinion there is Il
| Seml-Orsanl2eu et10rt TO crush the READ
ing companies. The belief that a. foreclos-
ure of the property can be made without
disintegrating the system Is by no means
unanimous; on the contrary, there are
many who hold to the view that foreclos-
ure of Reading will separate the rail-
road company from the coal and iron COM
pany. Well, l think that this is exactly
what some people are aiming alto sep
arate the two companies. They know
that the Reading cannot continue going
backwards in its earnings at the present
rate forever; they know also that reor-
| ganization under existing conditions
would simply mean temporary delay in
bringing abont another and final crash.
These interests are, therefore, l believe,
simply biding their time, preventing re-
| habilttation of the coal trade and pre-
venting also Il reorganization of Read
ing in the hope that foreclosure will result,
and with it come the disintegration of
| the powerful factor it is in the trade as
it's most valuable coal properties as well
as some of its most important branch
roads would fall into rival hands. New
| York has defeated both its reorganization
plans; in New York also exists the dis
turbing elements in the anthracite coal
trade, and l would not be surprised to
learn that these interests were one and
| the same