The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1897-06-12
Outlook for The
HnthraCite Trade
From the Philadelphia Press.

From the Philadelphia Press.
The condition of the anthracite coal
trade at this time is a matter of more
than usual interest, as II reflects for the
first time the results of the policy of
those who have lately acquired full con-
troll of that trade. 1t is more than ten
years since capitalists who had had more
or less interest in the production of an
thracite coal and in the shares of the
great carrying companies inaugurate6 a
!noV ement to put those corporations in
a shape to do business and to formulate
permanent plans for the conduct of the
trade. The first important steps were the
rehabilitation and reorganization of the
New Jersey Central, Reading and other
companies, which latter proved to be a
most tedious task. With the conclusion
of Ghe late arrangement with the Lehigh
Valley company, the anthracite carriers
passed into the control of the Morgan E-
terest, and accord in the management of
all the properties was practically brou5 hit
about. This step was necessary to the
business of bringing order out of the
chaos that had existed fer years.
There was no difficulty after this was
accomplished in agreeing upon a pro-
gramme as to the conduct of the trade.
All interests united in a tacit agreement
there were no writings and no meet
lHBS-lO Keep lHe pTOuuCllOl Ol coal uOWH
to the demands of consumers. For many
years, while the producing companies were
at odds competitively, coal had been
taken out of the ground and sent to mar
ket without the slightest relation to the
demands of consumers. In 1895 more than
Al, 0O0,0 900 tons We're put on the market
and in 1896 some 2,5000O0 tons less. In no
other two years of the trade was the
production so large, and it is not neces-
ssry to say that in the condition of man
ufactures and general business in those
years the output was far abave consump-
tive requirements The result was de-
moralizaton, which eliminated with the
close of the fall season sast year.
Since the first of January there has been
strict attention to the volume of the prod
uct of coal and it has been restricted 10
the wants of those who use 1t. The out
put has been at the rate of a little more
than 100000 tons per month, or bout 49,
100000 tons for the half year. This re-
striction has been accomplished at some
sacrifice to the producing and carrying
interests. From the producers point Of
view 1t was a necessary measure, as con
sumers never buy coal in the first half OF
the year, and the coal consumed during
that period is that which is marketed in
the previous year. No successful restric-
tive programme has before been put in
| force owing to the strong competition
which existed between the carrying COM
panies and the jealousy with which they
| guarded what they considered their tom
mage rights. A great deal was accom-
plished, therefore, when 1t was developed
| this year that all the interests were living
| up to their agreements at the expense of
| earnings for morths. The restrictive
| process has been accompanied by econo-
mics, and 1t is somewhat remarkable that,
| though the companies have carried p
100000 tons less coal than in the same
| six months of 1896, their monthly reports
| in some instances show an increase in
net earnings over last year, and no COM
pany shows any important loss.
The result is that from a producers
| and transporters' point of view the an
thracite companies are in a better posi-
tion for profitable years business than
ever before. 1t is believed that the mar
ket will take 400 900 tons of coal at least
| in 1887 and this estimate seems reason
| able, as 1t Is more than 100000 less tnan
was actually mined and apparently mar
keted last year. If this is true there re-
main to be shipped at least 1900, 900 tons
each month during the last half of the
| year. If there Is some restriction on this
amount in July and August, and II the
| usual light tonnage is allotted to Decem-
| Der, the monthly output in the other
months will be about equal to the capac-
| ity of the mines. In any event. all en-
| gagged in the anthracite trade have the
| promise of fuller work during the nexi
six months than In any other similar pc
| riod recently.