The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-03-31
INDUSTRIAL,

INDUSTRIAL.
1t Is said 5000, 900 tons of anthracite
coal will be sent to market in April.
The Railroad GaZette's record of rail-
road accidents shows that "a collisions.
81 derailmentS and 1 other accidents
took place in February. in which 81
persons We're killed and lO1 We're in
jured.
The president OF one of the leading
anthracite companies says 'rhr
agreement recently reDorted between
the coal companies was never signed
by all the conDanies. and in that res
spect has no legal binding character.
Some of the companies gave no sigma
ture whatever to any understanding.
but the discussion of the situation and
the resolutions passed by the meetings
committed the companies more or less
to certain well-defined understand
ing as to operations for the inainten-
ance OF prices. The committee APP
pointed to carry out the purpose of the
meeting has no authority to bind any
corporation. Consequently, whatever
legislation may be proposed against the
companies for alleged violation of the
antitrust law may annoy individuals,
but can certainly not punish any conf
pany."
a Pittsburg dispatch says: A gigantic
industrial combination went through
the preliminary stage of formation and
was practically effected at a meeting
Of steel producers held in New York
last week. Another meeting will be
held In Pittshurg soon for the arrange
ment of details. 1t Is proposed to regu-
late the production of steel to actual
requirements. Not much informal ion
will he given for publication, but it Is
learned from one of the attendants at
the meeting at the start the price of
billets will be fixed at $50 per ton. and
will he changed according to price
changes of raw materials. Pending
completion of the combination steel
producers have withdrawn from the
market and will make no new con-
tracts. Nearly the entire production Of
the United states was represented at
the New York meeting. embracing cap
ital Of several hundred millions OF dol
lars. Among the prominent firms rep
resented were the Carnegie Steel COM
pany. Jones 4 Laughlin. Illinois Steel
company. Hainesworth Steel company
Johnstown Steel company and the
Cambria Iron works.
According to the Pittston Item. the
second shaft at Mt. Lookout has been
sunk to the red ash vein. the upper
bench of which was struck this week
at a depth of $50 feet. The vein at that
point Is in two parts with about thirty
feet of rock intervening. The upper
seam is about SO feet thick and the
lower about seven feet Both will be
worked at the same time. AS soon as
the second shaft is completed the work
of sinking the main shaft to the red
ash vein will be commenced. In fact
the contract has already been awarded
to John Ilovd. who is sinking the sec
ond shaft. The work has been some
what retarded the past few days on
account of lack of steam. An at
tempt has been made to fire the boilers
with culm, but not with much success
The pockets to the new breaker are
now up and the work will be pushed as
rapidly as possible. 1t is expected that
the work will be completed by June
The contract for the machinery has
been let to the Vulcan works. Of West
Pittston. and the Dickson works. at
Scranton. The former will finish the
''jigs" and new engines. and the latter
will supply rolls, screens and other
breaker machinery Some of the rolls
and other pieces of machinery which
We're not destroyed by the fire are now
being repaired at the Vulcan works.
Philadelphia Stakeholder: That the
recent action of the Lake Superior iron
ore producers in fixing price for their
product 81 per ton above last seasons
contract figures has placed drop un-
der the iron and steel markets there is
no doubt. Owing to the limited de-
mand considerable curiosity is mani
fest as to how 1t viii operate. Some say
that the higher figures assured will
check much of :he business now cur
rent and force producers to come down
in their prices. Just at the present
time the railroads. which are expected
to be large customers this spring. are
not buying to any great extent. There
is a feeling among them that prices
are too high. They have contended for
important amount of rails, but these
are taken on the understanding that
they are to have the benefit of any. de-
cline during the year. AS well known,
prices of iron and steel products
reached their high point in October.
1885. The low of that year was in
April. 4 canvass, showing the extent
of the advance and the subsequent re-
action to date. is of considerable in
terest. 1t is found that in every ease.
except that Of steel rails. which are
bolstered un 10y the continuation. one
half or more of the gains up to October
We're subsequently, lost. Thus. in the
case of Mig iron. but $2.l2 of the $4.S7
appreciation remains: in billets but
81 of the total gain of $9.12: in tank
steel. 20 cents Il hundred of gain of
20 cents per hundred. The greatest loss
was in wire rods. /. e.. from 50. i, to 81. 80.
The gains of to-day over the low of last