Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-04-10
TWELVE PAGES.
TUESDAY. APRIL 10. 1900.
THE COAL TRUST AND PRICES

Some question being made in politi-
cal and academic circles as to whether
or not trusts advance price, whether
they are benevolent or malevolent,"
let us see what the facts are as to one
of them. the Coal Trust.
On March the 31st the Virginian-Piot,
which along with other enterprises
needs coal in Its business. received the
following letter from local dealer:
I'VE have just been notified of an
advance in the price of Pocahontas
coal to take effect April LIST. We are
also advised that In future all prices
Will be on basis of TWO THOUSAND
pounds TO the ton, instead of TWO
THOUSAND TWO HUNDRED AND
FORTY pounds as heretofore"
This advance in the price of coal,
and change In the standard OF weight,
is THE JOINT ACTION OF THE
COAL PRODUCING COMPANIES,
and applies to all points where steam
conl is used.
I'm view OF the above. it is necessary
for us to advance our prices, and be
ginning with Monday April End our
prices will be $3.50 per ton of 1000
pounds delivered as required"
The price had BEEN up to April list,
$500 per ton of 224O pounds. In short,
the coal producing companies" THE
COAL TRUST. by Joint action" adj
vanced the price Of coal per ton 1G 2-3
per cent and at the same time reduced
the weight of coal per ton 10 ST. per
cent. Reduced to the same basis this
vas equivalent 20 an advance of 30 %
per cent in the price of coal, or nearly
one third
The means by which this "benevo-
lent" result was attained was an IRON
clad agreement signed by the coal pro-
ducing companies, in accordance with
the terms of which each company Is
permitted to handle in the course of a
year only a specified amount of coal.
The modus oNerandi, under this agree
ment is to give preference to the ex-
port trade because an active foreign
trade reduces the home supply and
tends to ra,ee prices to home consum-
era.
The coal companies are living up to
the strict letter OF The agreement and
are In absolute control OF the situation.
In order to keep within bounds. vessels
are held from Week to month. wait
Ing for coal; and the export trade OF
the ports is thus seriously affected as
we'll rs every user of coal at home. IT
appears, therefore. nat while pater-
nal Republican Congress is considering
the passage Of ship subsidy bill to
take $4,000 0G0 q year out Of the pockets
OF the peopl2, TO build up the American
Shipping, trace, and Is enga gcd also in
cr!o.izing trusts shifts are waiting at
the lack$ aud freight in the ware
. hcnses, haeause the COAL TRUST
wishes to force W prices.
On tor OF this comes the an
nouncement that J. Pierpont Morgan
and the NandcYhIlts have secured con-
troll of all railroads; tapping the coal
fields, and will divide the bituminous
and anthracit interests between them:
the Pennsylvania controlling the for
mer and The New York Central the
latter Tnis corsunna,ion has been
reached IVY the Pennsylvania securing
control OF the Norfolk and Western
while the New York Central has pur-
chased the majority of the stock in The
Reading, Lehish Valley and Erie.
with the coal companies in trust TO
put up the prices OF coal, and with the
coal carrying railroads in a trust TO
put up ficighls. 1t is easy to sec the
finish oc the Coal consumer.
$50 i