The Birmingham age-herald., 1902-08-24

New York. August 2S.-Although the weather has been remarkable for its mildness and coolness, thereby sparing the tenement house population a world of suffering, the sections occupied by the wealthy are as deserted as though we had been cursed with torrid heat Mer- chants, bankers, financiers, have clubs and hotels, apartments and residences and have gone to the sea in their yachts, to seaside. villa or palatial country seats. Even Wall street Is dull This mighty heart of trade feels the loss of power detraeted by the absence of its big men. It was SO last summer, One week no man of any importance was to be ais covered with a searchlight The next week Pierrepont Morgan was at his office at nine o'clock. From that hour until five o'clock there was a procession of fnanciers to his private office. which was amazing. In a week MT. Morgan will announce his return. And then as if by magic Wall street will resume it's orthodox look-and club and hotel will be thronged once more.
 Even though the hot weather is at its
 
 will soon approach when he must lay in his winter coal. The prospect is discour- aging. Some strikes have caused tenn porary inconvenience, but the coal strike bids fair to impose great hardships upon the fairly well to do and great misery upon the poor. A very large part of the population of the city reside in apart ment houses. Owners will be unable to rent their flats on the present scale if the cost of heating Is increased 20 per cent. At the present time the price asked for coal would just double the present cost Tenants will either have to pay an increased rental or owners will be com pelled to suffer heavy loss. Private houses now costing $250 year for ldtch- en and furnace will find their coal bill doubled; but upon the poor who buy their coals by the bag, it is fair to say the cost of coal will pc about at the rate of $20 per ton. It does not appear that even if the miners went back to their work that great relief would be given to the city, as the facilities for handling coal at the present time would be made uuate to the demand made upon the dealers. Coal bins are generally empty, and those who in the past have laid in their winter stock during July have wait ed for a reduction in price. It is said and generally believed, that this strike is the result of manipulation, and not the spontaneous work of the miners. It has been brought about by the large whole sale dealers and soft coal companies who have desired to force on the general public their abundant stock of mined coal at exorbitant prices, and they have held up the settlement of the so-called difficulty between the operators and the miners until such time as the winter de- mand will compel buyers to take it at any price. The reason then to be given for the maintenance of high prices will be the difficulty of transporting 1t in suf- ficient quantities to meet the demand.
 It is very gratifying to those who are paying between sS and s9 a ton for coal to know that Mr Morgan Is fairly burn ing money It is pleasing to realize that this king of finance finds no art gallery in Europe too expensive for him to pur- chase. It is also gratifying that he has caused |, estmlnster Abbey to be wired for electric lighting and that he himself was honored with a seat in the diplo- mats gallery to witness the flood of cleo trio light cause the diamonds in King Ed wards crown to glisten at his expense. But our general feelings of exultation