Freeland tribune. (Freeland, Pa.) 1888-1921, 1899-03-09
GREATEST TRUST OF ALL.
ANTHRACITE RAILROADS FORMING
A HUGE COMBINATION.

Trust-Organizer Mo rgan and Other Mon
opolists Have Perfected Plans to Secure
Absolute Control of Coai-D. s. a. s. to
Be swallowed by the New Octopus.
The return of j. Pierpont Morgan
from London on Tuesday was the signal
Tor the announcement of the formation
OF the greatest of all trusts-the ANAL
CATION OF the anthracite coal roads and
their Interests. Mr.. Morgan went
abroad two months ago to secure the
assent of the Readings English stock
holders to gigantic scheme that the
VandereiltS, the PENNSYLVANIA Railroad
Company, President Maxwell, of the
New Jersey Central, and W. II. Trues-
dale, of the Delaware. Lackawanna and
Western companies had formulated.
This is nothing more than a consolida-
ton Of all the great Eastern coal inter
ests under one management.
The Readings vast network of coal
properties was such an important factor
in the plan that the genius of Mr. Nor,
gan was almost exclusively devoted to
bringing the Reading Coal and Iron Com
pany into line
When Franklin Il. Gowen, in 1888.
consolidated the railroad and the coal
companies and blanketed them with one
mortgage, he rendered very difficult any
future separation of the two interests.
Several weeks were required by w. X.
Vanderbilt and w. II. Truesdale to
formulate plan that reasonably could
be expected to be acceptable abroad
Assured of the support of the Wander
bilt influence in the various coal roads
they largely control, Mr. Morgan was in
position to argue seriously with the
largest English shareholders, and by
sturdy, persistent effort he brought
them to his way of thinking.
The enormous volume of capital in
volved is calculated to turn the head of
any ordinary fnancier. Hundreds of
millions have been brought into one
trust! A pro ratra division of the coal
output and of the profits has been o-t-
lined, though months will be required
to finally adjust all the details.
The cause of this gigantic combination
is said to be due to the recent rate cut
ting, but there are other and more
importantreasons back of this deal. Pri-
marily, it is estimated that fully SO 200
900 will be saved annually in operating
expenses, and the profits increased fully
as much more by doing away with all
.middlemen.
The anthracite companies now regard
themselves as masters of the coal situa-
tion. The only exception made is that
OF the Pennsylvania Coal Company
(Which mines soft coal,) because it
depends upon the Pennsylvania Railroad
Tor reaching the seaboard 1t has no
connection with the railroad as the
similarity of name would suggest.
The companies already in the gigantic
trust are: The Philadelphia and Read
ing Company; the Delaware, Lacka-
wanna and Western Company; the
Pennsylvania Railroad Company; New
York, Lake Erie and Western Coal and
Railroad Company; the New York, On
tario and Western Railway Company;
the Central Railroad of New jersey; the
New York, Susquehanna and Western
Railroad Company, and the Delaware,
Susquehanna and Schuylkill Railroad
Company.
The combined capital of this trust is
$500, los, ,736-nearly Il billion dollars.
The prices of the stocks of coal roads
bounded upward yesterday as soon as
the stock exchanges opened in New
York and Philadelphia. Gambling in
these is expected to continue for some
time.
There was some talk in New Jersey
legislature yesterday of u movement to
fight the big trust