New-York tribune., 1896-01-24
COAL ROAD MANAGEkS MEET
THE TONNAGE QUESTION DISCUSSED AND
ACTION DEFERRED
COMMITTEE TO REPORT on THE DIVISION of
BrsINE,s-POsITIoN OF THE READ


BusINEss-rosITlox OF THE READ
ING RAILROAD.
The first step toward the reorganization OF 'he
anthracite coal trade taken yesterday when
meeting of officers OF the railroads engaged IN ths
traffic held in the offices Of the Trunk Line AS
sociation the Central Building at Liberty ana
West SITS.
THE ROADS REPRESENTED.
The various roads were represented as follows
Philadelphia and Reading Railroad by Joseph >
Harris. president and receiver. and j. Il. Hender-
son, general coal agent; Delaware. LackawanM
and Western Railroad by Samuel Sloan, president
and f. Holden vice president and coal safes
agent: Lehigh Valley Railroad by +. T. Wilbur
president; w H. Sayre vice-president, and II. s.
Drnker. general counsel: Central Railroad OF New
Jersey. by J. Rogers Maxwell. president; Deia"are
and Hudson Canal Company. by Robert VI. Oy-
phant, president; Pennsylvania Railroad. by George
b. Roberts. president. and w. II. Joyce, general
freight agent; Pennsylvania coal Company by >
Thorn. president. and ]. Hodgson, sales agent
Erie Railroad by f. Il. Thomas, president. ana
II. B. Crandall. coal freight agent; New-fork On
tario and Western Railway, by Thomas =. Fowler
president. and j. f.. Chlds. general manager; New
York. Susquehanna and Western Railroad and its
proprietary line the Wilkesbarre and Eastern Rail
road. by A. l.. Hopkins. president. and f. T. Moore
coal agent: Delaware. Susduehanna and SchuylN
Railroad tCoxe Brothers d cos road, by y. wal
ters. president President Wilbur. Of the Lehigh
Valley Railroad. chosen chairman Of the meet
ing.
The meeting was called at the instance of J.
Pierpont Morgan. as reported in a circular signed
by President Maxwell, of the Central Railroad OF
New-Jersey; President Sloan. Of the DelIware,
Lacka wanna and Western Railroad. and President
Wilbur. OF the Lehigh Valley Railroad. to con-
s!der a restriction IN production. an advance in
prices ana division OF the tonnage by percentages
he he
given mp to a discussion Of the tonnage The diff
ferent roads. in compliance with a request in the
circular calling the meeting, presented the figures
Of their tonnage during the year 1885, the total Of
which shown to be 46.jij I6l tons.
\ COMMITTEE Oh TONNAGE.
The suggestion wos made that the aggregate ton
mage should be restricted FOR two months, without
any attempt during that period to hold roads down
10 specified percentages. in order to allow time for
the preparation Of plan for the regulation cf the
trade. This proposition not adopted The SEN
tment was that il was inadvisabe 10 wait so long.
Accordingly. the following committee was appointed
TO prepare a recomu.o ondation for division OF the
business and report at meeting TO be held on
Thursday. January 20. President Maxwell OF the
Central Railroad of New-Jersey. President Thomas.
OF the Erie Railroad. and VicePresident Holden,
of the Delaware. Lackawanna and Western Rail-
road. After the appointment Of this committee the
The anthrac.,c output in lso5 larger by some
4v""o tons than Ia any previous year The IN
creas" ~ f"""D tons practically represents ,e pro,
duction IN excess OF IN" market requirements, and
resulted Ia a serious depression in prices
DEMANDS OF THE READING COMPANY.
The ctlcf difficulty hitherto In handling the coal
trade AS 4 whole % advantage has been the at;i-
tul@ tsken by The Reading road. This road has
claimed that i, wa- entitled Ia greater proportion
u the total tonnage than it was securing, and In
The last two years if has been enforcing hts claim
by Increased activity IN its mines. It has alleged
AN oNrcrshp % . per cent OF the anthraci" In the
ground. and % the last siN months o, !NS y pro
ncel more than = per cent ~ the total output on
the basis ~ coll.fy cApa, ne hr',enI m hs nas
Il thinks the carrying companies are entitled as
follows.
Philadelphia ami Reading Railroad.........?il "a % %
d. s~ar' ia.Rsesnna ami Western Railroad l3.22
central Railroad 4 Nev l"rs"f
n,i.a,re ami Ilu.sen canal company . 20
,-,eafe sa.quehanna ana shu,isil RaHnad.... 3 y
So Sars ontario aad w~-ea l'.n@4. 395
The Reading now ash hr p per cent Of tae m.
ouipa' had in IS, iecln,l 10 1851 pe cent. bat
the curse u ID" other c'mpan.es III mn.ns ana i
mlrtrtng coa. without regard TO ihe pic Oh OBJ
taiu-i fIr ii For another thing strike OF miners
in l,s, interrupted The Readns's output somewhat
In ihn, year
PROSPECTS OF \ COAL COMBINATIoN
Whether the percentage. complied hy the Reading
Will be- adopted. approximately or otherwise, as
basis for the division Of the tonnage. remains TO be
seen. hut the reorganization OF the company, when
Viii soon be- completed and which will result In a
change ln the management. makes it certain that
II win b. bound 10 any agreement approved 10y the
other roa,e by the terms ot th- reQrganlza. @ on
until dividends Of per cent per annum IN clIh nav M
been pail for t"o so'S'vu,lNr yrtfS @ rbs an ms
tees will Doe designated by J Pierpont Morgan VINO
Is to carry out the rrorglnizailon pan. ~. ,.
Iv reason % his financial relations Win th'li
Mr.. Morgan can command the co-0pcrailoh OF the
Reading New-Jersey Central l.acka"amna, pea
ware and Hudson and Erie companies Ih"se com
panies prohuc" nearly 70 per cent or an thc
cite coal mined It * said that the Lehigh Nalley
has agreed TO Join with the foregoing companies IN
an Arrangement for improving the condition o. me
output to that OF the other companies brings The
total up to more than % per cent IN, rnv i-y"Sa S
individual operators. , ,.
In short the one-talk"i-of anthracite n yPa con-
bnation seems at last 10 BE- maturing W men IL IL Is -
settled what proportion OF the whoc Tonnage ,,I maSn
the aggregate production. and the maintenance OF
prices will follow as IA matter OF curse. 90 Lar Lar
az understood. II IL not in the proSramme ma.
terialN TO increase the circular prices or coal but
instead 10 secure an adherence To ihem whlch mas
produciion Ii may he that an effort viii be
made to abolish m.ddemen. and IN thad case ,nrr I
i.ofts would go TO the producing ana carrying
Several of the roads are known to be in favor OF
doing away with middlemen and supplying iars'
consumers and retail dealers Directly
J. X. COWEN FOR PRESIDENT OF H. AND q.
Baltimore. Jan. p c'peclaD-The New-fork MEM
bers Of the Board of Directors OF the Baltimore and
ONO Railroad Company were here this evening III
conference with Major Alexander Shaw. OF the
Finance Committee. and others Interested III the
company. The subject OF the presidency was under
discussion and il is said on good authority that all
interests nave agreed on Jonn h Cowen Tor presl-
The Garrett interests hav" urged me selection
OF Mr.. Cowen and IL Is said that New-Nork people
have also been In favor of him. Mt Cowen is thee
81 nzet Df
Congress from the INth Maryland District
Mr. FILLER NJ ST BRING / LAWYER