New-York tribune., 1901-07-09
SOFT COAL MEN MEET.
REPORT AND DENIAL THAT HANNA
MORGAN. CASSATT AND OTHERS
CONFERRED On COMBINA-
TTON SCHEME
TION SCHEME.

L wss reported yesterday in Wall Street tnat
q conference Of large bituminous coal interests
had been held in the morning in the ONCE OF D
Morgan & Co. That such q conference was heio
a. any time OF the day was denied oy q repre-
sentative Of Mr. Morgan Still it is fact that
Senator Hanna paid the banker a WISH II the
morning 4 J. Cassatt. president OF the Feih-
sylvania Railroad; P. A B. Widener' oil fhila-
deIphia. and Clement A Griscom. PRESIDENT OF
the international Navigation Company, who Is
associated with the Berwind coal interests OF
this city. were also present
Senator Hanna is believed by many TO De ac-
lively interested IN the formation Of soft coai
combination and his visit 70 MI Morgan s ONCE
was thought 10 be connected with the ADVANCE
unent OF that scheme. Mr.. Hanna denied that
such was the case He said that he always
called on Mr. Morgan when he came on from the
West Mr.. Morgan declined to talk ABOUT 'ne
reason for the Senator's visit
Mr. Cassatt returned 10 Philadelphia early in
the afternoon. it was said, with Mr. Griscoln
and Mr.. widener. and left no explanation OF MS
visit behind him.
The Pennsylvania and Vanderbilt systems
Nth their allied interests practically control the
,-snsnor1atiou Of soft coal from Ohio points
east TO tidewater. The pre-emlnence was sc
cured il is understood. by an agreement ehpeieu
into soon after the powerful coInpihatlOh "a
.,.t,-acite nroDertieS in the East was electeu'
The knowledge of this condition OF affairs leu
coal men 10 believe yesterday that President
Cassett's visit was directly concerned with l"e
es-a blfshrnent of the community OF interest," lue
in The leading soft coal properties of the country
It was officially declared yesterday that no
Formal consolidation of the bituminous coaf IN
+a,as+s yrould be announced for several Inol'ls'
a we'll Informed operator yesterday gave MS
version of the situation as foIlo"s-
IT,, o1,5a,ior will mature IN the course ol
time but not for many months III VIII De ~ the
by securing control Of the F The prop
eer,5es II Is merely a question OF agreement De
tween the coal carrying Toads -, oad ord IN
,te conpanies controlled by that road poTton, @ %
the trade which they can best hahoe' - ~,,rs
Buffalo and which possesses a. ,rodi,ct 10
Transportation, asked TO Sela Us ~ yorIS
market TO the Pennsylvania-N anderolIt
II is only question OF tirne when the entire eVat
Transportation east oi IN tne r.1Iroads
The principal bone Of contention at present is Ine
disposition o. the output from the deposits IN N
diana. Illinois and OAlo. IN those ota'ei ~ -
fuminous coal lies the surface, Is very plenu,
fu and IS Of poorer quality than me coaI Tl q
ir Pennsylvania. West Virginia and Mary!ahu re re
rlsn is now 10 divert this soft coal TO the South
and Southwest. The New-York market has been
The trunk lines east OF those States refusing
10 carry IN here. Formerly the New-fork Central
locomotives burned this coal almost entirely out
hurt the soft coal business In this city. and has
resulted in the railroads hnding IL olmcuIt 10 oo-
tain steadily remunerative rates
ccai industry II Nj Morgan who is now strong
the responsibility the coal situation east Of the
Mississippi VIII be simplihed.
Should such community OF interests be carried
through efectually strikes among the coal miners
would be much more infreQuent