Pine Bluff daily graphic., 1896-02-24
THAT COAL COMBINE.
MAGNATES WILL REMAIN INACTIVE
 TILL THE STORM IS OVER.


 ests For the "Gentlemen's Agreement.Y
 That the big anthracite coal monopo. ly is becoming frightened is evident from the fact that the permanent organ. i@ation, which was agreed upon at tie meeting of railroad presidents, has been given up for the time It may be form ed if the public becomes inactive, but if the fight is continued vigorously, the railroads will discreetly keep their per manent association in the background.
 To run up the white flag has been a hard blow to the plans of the railroads, for the permanent organization was pet scheme. and had gone so far that the name Anthracite Coal association lad been decided on, and steps have been taken to make it on the same lines as the Joint Trunk association, formed by the trunk lines and their western connections. 1t is now understood that the Anthracite Coal association will re. main under cover until, as the railroads hope, the people get used to the present arrangement.
 IL thls can be continued, the coal men believe they can eventually get together on permanent basis, thus forming trust ill fact. The farreaching effect oi the gentleman's s agreement" under which prices are now being raised, is shown by the statement of Robert Good body, broker, at 39 Broad street, New York, who said with reference to the combine:
 1t would seem as if the anthracite coal agreement was very likly to be sta ble. It is based largely on ownership oi stocks by a few big men and therefore does not depend on any official, for fl these gentlemen feel it to be to their in terest they can dismiss the offender, and probably will because they want a faiI return for their money. They cannot, however, exact high prices on account of the competition of bituminous coal. This anthracite combination seems cer. tain to help our market to higher prices in the long run. :"
 By this and other expressions of Wall street men it is made apparent that J. Pierpont Morgan is counting on giving strength to the combine which his finan. cial skill created by joining the inter. ests of the various lines The way ill which the roads in the combine are al lied is shown by the Implications in the boards of directors.
 A study of the personnel of the di rectories of the various roads will show how closely the interests are allied, and therefore that stgentleman agree ment'' is as binding as if bond to keep the agreement were signed by each rail. road president. J. Pierpont Morgan is tue moving spirit, and with the Read ing under his control he is ill position to give advice that carries weight. He and the Vanderbilts and the First Ma ltional bank party always work hand ill hand.
 The Vanderbiits control the Lacka- wanna, the New York and Susquehan. na and the Delaware and Hudson, while the Erie is under their influence. The New Jersey Central is controlled by the First National bank party. A large part of the stock of the Pennsylvania and the Now York. Ontario and Western is held by the English, and the impress sion prevails On the other side of the Atlantic that ]. Pierpent Morgan is about the only thorough finaneier in this country This gives him influence that was made apparent on the day the combination was made, when President Roberts opposed the terms until he get the tip from some one during the lunch hour that he ought to be satisfied.
 Although the Lehigh Valley is inde- pendent, MT. Morgan can get his opin ions into the directory through Thomas McKean, Reading man. MT. Morgan E influence is made apparent by the pres ence i'll the Jersey Central directory of Edward D. Adams, who represented the Deutsche bank i'll the Morgan bond syn dicate. Other directors are George F. Baker, president of the First National \ bank James A. Garland, vice presi dent of the First National bank, and Samuel Sloan, president of the Laeka- Wanna.
 With Chauncey M. Depew and Cor nelius Vanderbilt i'll the Delaware and Hudson, the Vanderbilt and Morgan ill terests will be looked after, and Alexan- der E. Orr, director of this road and the Erie, will try to see that the inter ests of both lines are looked after. The president of the New York, Sus. quehanna and Western, A. l.. Hopkins, Is known as Morgan representative. In the Erie one of the directors is c. H. Coster a partner of MT. Morgan in j. r. Morgan & Go, and others ill the board are Abram s. Hewitt, owner of the New York and Greenwood Lake road, and Francis l.. Stetson, the per sonal representative of MT. Morgan, who gained fame by drawing the con tract between the Morgan Belmont bond fyndlcate and the government. It ls reported that one Of Mr. Mor gan plans is to get the interests of the Various coal roads still further inter 2 Ylned, and to keep on at the plan un- 4 uI the system is so complete that the coal carrying roads will be practically ohe corporation, with power to raise the pflce of coal to the limit of the people s =.