The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-01-30
RAILROAD NOTES.

Philadelphia "a Press: The Reading Coal
and Iron company has decided to shut
down its mines on Friday night for an
indefinite period This action Is in view
of the sentiment expressed at the meet
ing of the presidents of the coal COM
panies last Thursday. when 1t was
deemed advisable to restrict the ton
mage of various companies. At the
Reading office nothing definite could
be ascertained in regard as to how long
the mines would be closed. but it Is un-
derstood that no work will be done for
several days at least. While nothing
was said about any Of the other COM
panies closing their mines it Is more
than likely that similar action will be
taken throughout the coal regions
Owing to the unreasonable weather
there Is very little demand for COAL and
'as the production continues to be very
large the stock on hand Is fast accumu-
lating, so much so that some of the
companies are having trouble to store
1t. and many of them are using their
cars as storage yards. All the COM
panies are in favor of restricting the
output, but upon the manner in which
ii Is to be done they have not decided.
Some of the officers are inclined to shut
down their mines three days a week.
This scheme does not meet the approval
of all the companies. as some of them
would rather have the working hours
reduced. and in this way operate their
mines part of every day. At the meet
ing tomorrow in all probability this
question will be decided. 1t Is also ru-
mored that it has been agreed to charge
the full circular price on all sizes of
coal on and after February l. For
some time past these prices have not
been lived up to. and stove coal has been
sold as low as $3.2i per ton in New York,
when the regular price Is $415. During
the week ending January the Reading
Railroad company. transported over it's
system 29l OPS tons. an increase over
the corresponding week Of 1895 of 72 43S
tons. And for the year to date 2.195. $50
tons have been carried. as against L.
S29.sS9 last year, an increase Of G6G. .O65
tons.
-:lI:-
The advance i'm the price of Reading
shares and securities since the plan of
rs organization was accepted by the Sc
curity holders has been marked. The ad-
vance in the stock at yesterdays high
est price was equivalent to So. per cent.
The improvement i'm the bonds has been
nearly as great. The movement Is said
to be based ON the prospect Of q settle
ment between the coal companies. but
the Morgan influence would i'm any
event be exerted i'm the direction in the
improvement in the prices of Reading
securities while the payment Of the as
sessments are pending. The Reading
December report the first month of the
fiscal year was favorable The rail-
road company shows a surplus in profits
of S37 .90g as compared with a deficit of
slSS.jA in 1894. The Coal and Iron COM
pany's loss on mining for the month
was So. 420. a decrease of 1907 and
the deficit i'm meeting charges for the
month was S111.42O. as compared with
$293.i2S. The result for both companies
shows an improvement of $342517 as
compared with the month of December.
1894.
iii
The Delaware and Hudson Canal
company reports for the year 1895 gross
receipts from coal. $7.36s.3'9; from rail-
roads. So 129. .OS2. and from miscellene-
Gus sources. $l.32l.l57. making total
gross receipts of $1S.S19.61S. an Increase
of $75l.39S: operating expenses. $l3.376.-
49, an Increase of sS47.1s5: net earn
ings Of $5.442.SS6. decrease $95.7s6: and
balance after interest, taxes and rent
ais, of 81. .s64. 1913. increase $l45,esO.