Sistersville daily oil review. [volume] (Sistersville, W. Va.) 1902-1905, 1902-10-11
NO COMBINE, REPLIES READING.
Hearst's Suit Answered-CoaI Prices
Not Fixed by Agreement.

Not Fixed by Agreement.
Philadelphia, Oct 11.-Counsel for
the Philadelphia and Reading Coal
and Iron company have prepared an
answer to the application of w. r.
Hearst to the attorney general OF
New York for the institution Of an ac-
ton against the company and others
under the antitrust laws OF the state.
The answer will be filed in New York.
The most important points set forth
in the answer are:
fundamental denial that the company
IS in any manner connected or identified
with any combination.
AS the rights of the railroads to, own
mining stocks.
AS to circulars fixing the prices of coal.
The answer AYERS that the respondent is
a corporation of Pennsylvania, created
primarily to purchase. SELL transport and
mine coal, and incidentally to acquire
such lands as it may deem expedient and
10 purchase the stocks of any railroad
corporation. 1t is denied that the eorpor-
alton has authorized or sanctioned any
combination with another corporation
contrary to the laws of New York State.
1t is further averred that all railroads
and canal companies, created by or Or
gained under the laws of Pennsylvania
law of the said state to purchase and holu
the capital stock of corporations author
lied by the law to develop the coal, iron,
lumber or other material interests of the
said commonwealth and especially is any
railroad or mining company of Pennsyl-
vania authorized by positive statute to
purchase and hold the capital stock of
the Philadelphia and Reading Coal and
Iron Company.
The answer further denies that the
prices for coal sold and shipped by the
respondent were yer determ: ned by agree
ment, contract, combination or arrange
ment with the other corporations men
toned in the application, or with any
person whOmFoever. 1t is admitted that
officers of the company have occasional
meetings with others in a like business
with the view of exchanging and consid-
ering statistical information and data as
10 the state OF available supply and the
probable demands of future markets, in
order that measures may be taken to sup
ply their requirements
The respondent also denies that the
prices fixed by IL in March 1901. or at any
other time, were determined at an alleged
meeting of the board Of directors OF the
Temple Of Iron Company or that q uni
form price for coal was agreed upon with
other companies.
II other parties in the trade announced
the same prices II was because they could
not reasonably expect to obtain. or. de-
mand greater prices from their customers
than the respon fatt announced its will
lngness to sell for. and, in the absence OF
special facts and circumstances were
doubtless unwilling to accept less. More
over, the circulars have never been re-
garded as binulng upon anybody, not even
upon the parties who may have issued
them. @"
Having Shown. the answer concludes,
that it has not done or participated in
any act contrary to the provisions Of the
New York laws, it submits that no fur
Their inquiry should be made into the al
legations cited in the application.
The Reading company and the Tenn
pie Iron company will make answers
denying any connection or completely
with any organization or combination
as set forth in the allegations Of the
Hearst bill.