New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-26

|
| ability to produce 60.0Oo0oO tons annually. 1t has
| market for only something in the neighborhood OF
| 40OOO,OD0?'
| IL can speak only for the Erie road. Our sole
| desire was simply to make some arrangement
| whereby we would not produce more coal than
We could market and at the same time get OUT
| share OF the market"
| Before leaving the stand Mr.. Thomas Informed
| the committee that any arrangement that was
made at the conference OF railroad officials In 1872
ceased 10 be in force February OF this year
consequently there were now no arrangements OF
understandings among the coal-carrying roads
| Mr. Thomas added that no subsequent conference
! had been held.
ESTIMATE OF MR.. GIBBENS.
! Frederick H. Gibbons. treasurer of the Delaware
| Lackawanna and Western who followed esti-
! mated that last year between 100000 and 100000
| tons OF coal had been mined and shipped by his
| road but h, did not know what relation this
amount had to the output agreed upon by the cot-
| ference The advance OF coal last year In price
about 30 or 40 cents ton as compared Win
| the preceding year: but he knew nothing OF any
| conferences or agreements for the regulation of
prices.
Charles A. Walker treasurer OF the Delaware
| and Hudson Canal Company. said the sales agent
| OF his company was Thomas F. Torrey. who fixed
the prices Of the company's coal. lie was unaware
however upon what basis the prices were liked
II.
general sales agents for the Erie Railroad. was
then lied and said he knew nothing OF the con-
ference held In 1896 as he abroad at the time
He said that 1t customary for the safes agents
10 hold informal meetings now and again III ONE
another's offices. The amount OF coal 10 oe P'o-
duced by each company was then determined upon
on the basis Of the probable demand FOR the heN'
month In disposng Of the product Tor MS roau'
no said he was guided by tn" allotment OF per
cont ~ the market allowed at the conference 10
his company In like manner the sales ase"'S VI
other roads would estimate the demand iol Inv
following month and then the estimates "ou'd pe
eyed for the amount to be mined by each COM
panv This estimate. he explained WAS AWAY
based upon the visible demand, ana not uPo" '''
,.,e,hIo eunnlv When II was estimated how fnu'h
each company would need TO supply It's portion VI
the market the mine officers were instructed q"
hiring TO the surface and ship that amount
RenIvIng to NJ Lexow ne said that TINS syS
tom practically amounted TO restrictioh' II vs.
less he said TO keep the coal In the mines una"
n store II above ground. He admitted that 'he
,,o q, coal was increased after the conference OF
railroad officials. ,.,,
"Vbv was II that the price OF coal was increased
after the confer ace? oo- -,
"Recause the price OF coal was so low III 1879 'ha'
,here was no money in the mining business
..vo, believed YOU had the right to meet ana
orraa rnor = particular price for your output?
"was the first advance in coal in 1896 the result
OF the conference?
Yes, sir
"Vben was the second increase?"
"About Nav or June"
.rho, vas an Increase also Of % cents per TOM"
Yes sir" -
and there was another increase Of % cents on
July l. was there not?'
YES, sir"
And on September the price was again raised
25 cents"
SO thar between February and September l,
1895. the price OF coal was increased 81 per ton
That is so"
And that 81 a ton increase was then followed by
the hod,ng Of the conference Of the coa!'carryinB
roads,
"Wha, was the reason OF the lncrease?'
"Recause the price of coal had steadily decIhed
until II went down to 81 80 per ton. ana IL was
found that coal at that price was De'hS so'u "'
loss" ,x,
F.. r Holden vce-president Of the Delaware
Iackawanna and Western Railroad testified tha'
ne had charge Of the sales business OF MS ROAD ne
had fuIl auth ,rity 10 attend conferences ana IN
nrices hut nc such conferences had been heid lot
long time He admitted that the conference "''u
IN tho early part OF 1896 for the purpose Vi d"
irving at sorle arrangement that would Improve
,be coal trade After considerable discussion al
that conference he said, Mr.. Roberts OF the PENN
svlvanla road had suggested that the Uahspoi' IA
ton of coal should be divided among the ra'iod"S
ON a given basis. A committee had been appoin'eu
10 prepare schedule to tina, effect put 'neie m"u
been dissenting road and the scneHe h'u '''N
through Mr. Holden volunteered the nf tS
th,t the arrangements for the alotm,Ill VI
market among the various roaus. c,Iteyaiis
agreements' among the sales agents. . .h
The advance in price. he said ca mi coni a,
loss lie asserted that the apparent adV yl t
r,,rtin, r. q A ton had not been realized by tne
1'nors Snasmuch as the net increase over 1919
Would not aggregate more than % cents pc,
~, prevailed Mr. Holden. in answer 10 Assem- s
bymen Bedell said his company Pald 10 ,my ner
oTners co per cent for kind or coal ana % PEI
cent for othe- kinds of the amount realized Oh 'he
sales of coal.
THE AFTERNOON SESSION.
I-pon resuming after recess Senator i-eXow put