The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1899-10-20
ANTHRACITE COAL TRADE.
The Year One Of Profitable business For
This Great Industry.

This Great Industry.
From Philadelphia Press.
The work Of re-establishing the anthracite
coal industry is beginning TO show results,
after many years Of patient labor The trade
may be said to have been in declining state
for nearly thirty years. During the Civil
War there was a large increase in the output
Of coal, and great fortunes were made by pro-
ducers, owing to heavy advance in the
price. This period Of prosperity was followed
by dOcline in the price of coal a long pro-
tracted and expensive contest with the en-
pioyes. The policy Of acquisition Of coal
lands for the purpose of originating tonnage
absorbed a very large amount of capital,
which proved unproductive and brought
about violent competition between the pro-
ducers, and it was followed by a long period
Of Depression the bankruptcy of the Roadng
and several other leading companies, and
large losses TO the holders Of the securities of
most Of the carrying companies. For fifteen
years the process Of reorganization and re-
establishment Of the business on substan-
tial basis has been going on.
This task in its early and late stages has
been one Of slow development, and the out
come was dscouraging for years, as the
owners Of the Reading property can testify.
Reorganization succeeded reorganization,
fixed annual charges were reduced and other
means taken to re-establish stability, but il
was not until the ownership of coal proper
ties became more concentrated that real head
way was made. For several years large
proportion of the anthracite producing aud
carrying trade has practically been under
the control Of a number Of leading capital
lists, with the same interests at stake, but
even since this consolidation of interests
there has been slower progress than might
have been expected Over-capitalization and
the competition it made necessary has de-
Iayed the placing of this great industry on a
substantially profitable basis, under the rul-
ing and existing conditions For two years
OF more there has been steady, if slow, inn
provement, and 1899 promises TO be most
satisfactory year. and to promise that the
great problem will yet be satisfactorily
worked out The Reading annual report
contains evidence of the advance which has
been made. Coal is now mined cheaper than
in any year since 1879, and in the last six
years the daily output of collieries has in
creased from 706 tons to 1172 tons. President
Harris was also able to make the important
statement in his report to the stockholders
that the Reading roads operations show a
gain Of 24 per cent, measured by the cost OF
transporting per ton per mile over five years
ago Other anthracite companies have made
headway in the direction of economical
management.
The amount Of coal sent 20 market this
year promises to be the largest in the history
of the trade and prices have been fairly re.
munerative. The output for the calendar
year to September 30 was 33, $50, 900, an in.
crease Of nearly $500, 900 tons as compared
with the same period in 1898, and 5000, ,OOC
more than in 1896. The stocks of coal on
hand are lighter than at any time recently
and they are falling though the total is moi
more than three or four days supply. The
demands of consumers will tax the capacity
of the mines and the transporting companies
from this time to the end Of the season, and
possibly throughout the winter months. II
is probable that the producing capacity is not
as great as it was several years ago, owing tC
the scarcity of labor about the mines, the
men having been attracted to other fields
during the last two years Of general activity
in the industries throughout the country.
The capacity of the mines and the railroads
for the three remaining months of the year
is estimated at about 4,5OO, QUO per month
which would make the output of marketable
coal for the year more than 900 tons
This is equivalent to 1000, 900 tons above the
production Of 1898 or 1897, and 100000 tons
above that of 1896. The year, as whole
will be one of large and profitable busines:
to Pennsylvania great and unique industry