The Topeka state journal., 1897-12-23
TN IRON GRIP.
J. PierpOnt Morgan Means to
Lay Hands On
The Entire Coal Ind ustry of the
United States.
Not Content With Owning the
Eastern Output
HEHASLAID HISPLANS
To MOnOpOlize All the Coal
Mines as Far West
As Illinois and Probably Much
Farther.
BOTH HARD AND SOFT.
Railroads and All Other Opera
tors in the Deal.
Combine Will Sell Direct to
consumers
MIDDLE MEN MUST GO.
The Trust Wants All the Prof
its for Itself.
Railroads and All Other Opera,
tors in the Deal.
Combine Will Sell Direct to
Consumers.
IIDDLE MEN MUST GO.
The Trust Wants All the Prof
its for Itself.
Holds Out Promise of Advance
in Wages.

New York, Dec. 23.-It has develop
ed that the big coal selling combination
of the anthracite railroads whereby
that product is to be doled out by
supreme head, is only part of a vast
project for the control of the entire
coal industry in the east and west. J.
PierpOnt Morgan's plan involves the
creation of a similar central selling
agency to cover each of the great BIZ
luminous coal districts of Pennsylva-
MIA, Ohio. West Virginia, Indiana and
Illinois and a uniform working ar
rangement between them that shall put
a stop to rate cutting and demoraliza-
tion of the trade.
The companies are to agree upon the
proportion each is to mine and haul
and the buying company is to call upon
them accordingly, as fast as it needs
coal for the market. The companies
interested are the Baltimore & Ohio;
Cleveland, LOram & Wheeling, Col
umbus, Sandusky & Hooking; The
Pennsylvania and the Wheeling and
Lake Erie.
AS soon as trade is placed on a solid
basis, it is the intention to make an ad-
vance in wages The rate per ton paid
in the Ohio district at the present time
is 50 cents.
The principle of distribution among
the many interests is to be practiced in
the bituminOus trade in the same man
ner as in the anthracite.
For several weeks Wall street has
been alive with rumors of a deal ar
ranged among the anthracite coal COM
panieS, designed to increase the profits
of the railroads and their mining COM
panies, and to stiffen the price of coal
Evidence of the deal has been given in
the steady rise of the ''cOalerS'' upon
a sluggish and sagging market.
The profits SO saved it viii diStri butte
monthly pro rata among the railroads.
1t has been figured out that the plan
means an increase in the earnings Of
the Jersey Central, the Reading, the
Lehigh Valley, and the Delaware
Lackawanna & Western, respectively
of 81, ,000, 600 annually.
AS the Independent producers have
been taken into the agreement every
ton of anthracite coal consumed in the
United States must be purchased from
the general agency company at what
ever price it may see lit to fix. The
law of supply and demand Will no long
er enter into the economy of this COM
modify
transported direct to the coal yard by
the railroad companies in their own
transfer floats, which save at least 20
cents q ton towing fees and l per cent
in the loss in dust and drOppipgS which
is caused by breaking bulk. AS the
railroads market 40, 600, 600 tons a [ the
seaboard cities annually, the sum of
IS 600 900 a year will be saved to the
trust.
Those who have figured on the saw
ing to the trust by the new departure
allow 6615 cents per ton profits from the
adjustment of Hghtering across the
bay and river, and 45 cents per ton
saved on the profit of middIe-men. This
On the 400 900 tons annually market
ed this would amount to $4z, 600, 900.