New-York tribune., 1900-04-05
HARMONIZING COAL ROADS
PLANS OF THE AN1ANEW-
YORK CENTRAL-MORGAN ALLIANCE
TO ADJUST ANTHRACITE
DIFFERENCES

The recent consolida tions mergers and traffic
rangements entered into by great Eastern
trunk lines to restore and maintain rates upon
equab BILE basis in the Eastern territory found
to be working satisfactorily. The harmonious
lations now existing between the Pennsylvania and
the New York Central have been clearly outlined
irf The Tribune and the action of the interests
identified with these two great systems in buying
up. consolidating and taking in hand the various
lines which were disturbers of traffic and in placing
them under the protection of either one or the
other of these great systems. both has been
announced from time time.
The same interests that went work to restore
harmony and to maintain rates in the Eastern ter
ritory on general traffic have now turned their
attention to the coal and recent develop
mehts tend TO show that the Pennsylvania New
York Central Morgan alliance is hard at work to
bring order out of chaos in the coal carrying roads
and establish satisfactory coal ransporta-
tion, aot fairly the percentage super
wise the production. The "coaiers'' have long
hshting vctously and slashing right and
and II was no easy task TO bring harmony oui of
the discord According the statements made by
ofhcials high in the confidence of the Vanderbilt
Cassatt- Morgan combination this has been accom-
plished and in the future the coal situation will be-
much clearer
The Tribune has pointed how the PennsyI-
Vanla and the New-York Central, acting Jointly,
purchased control of the Chesapeake and Ohio
which is a great coal carrying road Ii has also
told of the Pennsylvania recent purchases OF
stock of the Norfolk and Western another ''coaer
until IL is to-day IN position dictate the policy
OF that road. The latest In this plan of
bringing all the coal carrying roads into traffic
agreement contemplates the acquisition Of the
Reading. the Erie and the Lehigh Valley by the
interests
The Reading. with its coal interests. has
always been regarded as nominal!y property of
j. p. Morgan and his associates. The Erie. through
reorganization, is also looked upon as a Morgan
road and Mr. Morgan's interest in Lehigh Valley
is said to be dominant. Recently it is
nounced. the Vanderbilt Cassatt Morgan interests
nave E been quietly apgmentlns iheir holdings In
practically supreme. aud dictate the policy of
the various roads. All OF these stocks have been
Is due to these changes 1t is estimated that the
elimination Of competitive traffic solicitation will
will be benefited thereby
1T is not the policy Of Mr.. Vanderbilt. Mr.. Cas-
satt ana Mr. Morgan to buy any of these roads
fd = promnen1 [FI3d ofGi1l ME 9t the
TO buy majority of the stock The same plan
Lehgh Valley that followed in the chesapeake
and Ohio. the Baltimore and Ohio and the Norfolk
stock to give the syndicate strong Influence in
senta ton upoT the Hoard Of directors. the infiu-
of the syndicate is enough to insure operation
d end the coal war and do much to help every
one Interested IN the coal trade in the East or
William k. Vanderbilt is now, in Europe. J;
that they will meet in London to talk over the sit
nation and that soon after theT return the III; HEAD d.
changed. and Vanderbilt Cassatt-Morgan repre-
sentation will added.
Both Pennsylvania and New-York Central
showed marked strength in the stock market yes
terday, Pennsylvania making net gain of rs
per cent. the close being 140zs. and Central ad-
vancing IA points. closing at 13s There
strong demand for Reading per bonds, in
which the transactions exceedingly large and
which closed at S91s Baltimore and Ohio
also strong, reports that that road which is
itself virtually unde" Pennsylvania control to
take control of the Reading; but these rumors
denied by high officials of the Baltimore and
Ohio. The common stock Of that company closed
a decline
and the preferred at SS$4, net advance of Il per