The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1898-08-04

teresting Figures.
The August letter or the Anthracite
Coal Operators association says:
The anthracite market, in July,
showed a steadily increasing uncer-
talnty, which, af the close of the
month. was perlously near total de-
moralization. This result had been
fully accomplished in the west. Can
ada and northern New York and had
fair start in New England and at
tidewater. While this was, in part,
the result of over-production in July,
nothing so serious would have result
ed had there not been one of those an
nual and uneXplainable attacks of the
malady which has, from its earliest
days, stood in the way of a substantial
advance and prosperity in the coal
trade-the failure to maintain prices or
promises.
THE uncertainty as to prices has
kept buyers out of the market. None
care to lay in a stock while there is
any possibility of a further decline
which would leave them with high
priced coal on their hands, as was the
case last year. Consequently, in
quiries are frequent, sales few, and the
dealers have practically no stocks of
coal on hand.
Conditions have been made even
more unsatisfactory through the con
stant, and sometimes startling, rumors
Of possible concessions in prices by one
or another interest. AS a rule these
were imaginative. but in some cases
they have proved repetitions of the
time-honored practice of selling coal
that had been "in stock a long time"
and must go from ten to twenty-five
cents below the market.
AUGUST OUTLOOK.
August starts with a rather brighter
outlook in that the large proportion
of coal that is being rushed to the
west may partly relieve the strain at
tide and If any effort is made by deal
ers to purchase even small stocks, there
is apt to be an advance in the mar
ket. This would act against those who
were waiting for a further decline.
cause them to purchase and thus add
further strength. While it is, Of
course. impossible to predict what the
selling interests may do, it seems i'm
probable that they will, after the
| struggle for six months, permit any
| thing to occur which will nullify their
| labors and prevent their realizing
| enough in the coming half-vear to re-
| imburse the admittedly heavy losses
which they have suffered.
"The usual number of inquiries for
coal which are being received, show
that the retail market is keenly alive
| to the possibilities of the situation and
| may at any time start buying to se-
| cure itself against higher prices in the
| fall.
The individual operators have good
! ground for objecting to the present
| situation as 1t affects domestic fuels.
| Contracts We're made by which this
| fRel was sold to the transporters for
| so per cent. of it's selling price at
tidewater. There was an understand
| ing, not in the written contract, that
the price was to be maintained so that
| the operator would receive a fair re
turn at the breaker. Not only has
this been brokep repeatedly, but, in
stead Of the market for the fuel on
larging, as was expected, and as could
have been brought about under Judi
cious management, there has Leen a
| contraction, so the mines have been
compelled to work shorter hours, with
resultant increase in the cost of the
product, while the coal has netted
lower returns, so low that Turing the
past eighteen months the receipts have
barely covered the cost at the most
advantageously situated plants.
AN UNFORTUNATE FACT.
This is no theory nor idle argu-
ment. 1t is one of the unfortunate
facts which the anthracite carrying
railroads have proven In the operations
of their auxiliary coal companies. They
have shown annual deficits amounting
to millions of dollars. all of which
have been paid out of the transport
ing departments. The individual op.
orators have had to pay for their owr
losses. An appeal to the railroads tol
money to make good such a defci
would be ridiculed. Fortunately these
contracts terminate next year, and
there is no possibility of their ever be.
ing renewed on the present basis.
Are the excessive freight rates {
product of imagination? Take as
fair example, the New York, Ontario
and Western Railway company. Their
could be no better one to show the
| great pTOnl III carrying lnlS luel.
1887 1890 1896
Tons freight
moved ........ 661,2Sj l,257l99 252LG2.
Passenger earn
ings ..........s 476,16o s GLASS; s 654,o6,
Freight earn
ings ......." 9Ol2F l455,99i 2o6o,5a
Misc el aneous
earnings ..... 97l56 l29, 799 164,G7i
|
Total earn
| ings ......,.Sl, iS0 563 s., 200, 4i6 49, ,a3t
Gross expenses
and taxes -. 1,234954 1,76S,O42 zoos, 81,
2i5GO9 422, lO4 Sl,OSO, al
Net earnings
per mile ,.., 1918 lcl953 g26t,SS
Tons anthracite
originating on
line ........... None S,7l5 lS2i, 50;
ON A PROFITABLE RASIS.
This, and further detailed flnan
cial statement, shows that prior to tin,
! tiDoa- that this cpmpanV Al