The evening times., 1897-12-22
MORGlA's LATEST SCHEME
Plan TO Control Every Peund Of
Anthracite Coal.
PROFITS WILL BE $45, 900, 600
Consumers st the Mercy of the
acknowledgements to Do Its Own
Iigh;ering and Thus save Mil
lions AnEualIy-Two Big Depe;s
to BE siabl!shed in New York.

New York. bee. 22.-For several weeks
| a deal, arranp Ell among the anthracite Goa!
Companies designed 70 increase the profits
Of the railroads and their mining tom
panies ard to stiffcn the price of coal
the steady rise of the "cualers" upon
a sluggish end sagging market In Jer-
sey Central, which IS reported To be
one Of the principal bepeficiarics of tie
buying by men Informed OF the trust s
plans Tic new plan is o masterpiece NJ
finance and hears the uninistakable stamp
OF j. Pierpont Morgan's handiwork.
There existed in the statutes of Pennsyl-
yanla for man years provision known as
the manufacturers law, under which the
incorpoI alton OF COMPANIES with prac-
tically TO limit5 tons to their commercial
privileges was possible 1t enabled a cof-
poratiou 10 construct or operate railroads,
mine coal, establish selling agencies. and.
In fact. do an Y business in which private
person NAV engage. Among the most val
uabie franchises OF the Philadelphia AMI
Reading Railroad is charter of this
character.
The plan OF the coal men is to organize
under this charter a sales agent, which
shall dispense entirely with the middle
man and save his profit to the producers
without increasing the cost materially TO
the co,isam,r. Thsnew compan-, which has
not vet received a n anne, is to buy from the
coal roads their entire product, pay them
adequate rates for transportation to the
markets and sell to the retail dealers
direct.
The profits SO saved it will distribute
monthly PIC rata among the railroads.
1t has teen figured out that the plan
means an increase in the earnings OF the
Jersey Central, the Reading. the Lehigh
Valley and the Delaware. Lackawanna nj
Western, respectively. OF aiNut 81 900 600
annually.
The Rev general agent" will indicate
to each compeny about tn. middle OF each
month exactly what amount OF coal 1t Is
expected To mine and deliver during the
following month. Thus it will he ahled
to CHECK over production.
As the independent producers lave been
taken iLb the agreement every ton Of
anthraSitecoal lo onSum-di in tie Tn .tl Sta ~
mus bs rurc ha sed from the genera gencv
company at wha tever price it nay see fit
to fix. The law of supply and lena nj W i'll
no longer enter into the economy OF this
commodity. -.--i-t.-i 49,
The plan ccntenplates also the aboliti IN
of the privileges of the favorite towing
companies. These companies are to n
great extent owned and operated by Of
ficials OF railroad compa nies. and BY their
favor enjoy the exclusive towing contracts
of the systems with which they are i'.rn-
tilted. All Of the great railroads own tfcir
own transfer boat ,or floats for transp rtiny
cars around harbors and the tugs used in
towing them. hut by a strange anomaly
the coal towing - t'one by outside corpora
tions uncer contract.
Nearly every ton Of coal brought 10 New
York, for instance, is towed fr;an points
on the New Jersey shore in lighters 10y
private towing companies Xix. the Red Star
Towing Company, virtEafIy controlled by
Western Railroad, SeuIly's Towing lLe,
closely Identified with the Pennsylvania
Railroad. the Mcwllams Pros Towing
Compan--, closely in touch with officials
Of the Lehicl. Valley Railroad.
To what extent this lighterage cut:
into the profits OF the companies may
be easily figured out, as the price of
Tightening averages % - cents hushel
on a cargo OF SEQ tons from Perth Ambey
to New York. Under the new plan cars
will be transported direct to the coal