New-York tribune., 1903-05-02
NO LOSS AT TIDEWATER.
GAIN SAYS TRUESD4LE.
d.. l.. 6 ". President Admits Con-
ferences Orer Coal Prices Lately.

1orex,den, william, II. Truesdale Of the Delaware,
I.ackawanna and Western Railroad was 'ne pm pm
cipaI witness yesterday at the continuation . -
Interstate Commerce Commissions hFesus -
.,.o ,bo relations between the coal roads and the
coal mining companies +
Clarence ]. Shearn read from the sHnuaI ~ -,
ne the Delaware, I.ackawanna ana Nes'e4h -
road for 1901 that the earnings less taxes W
Sc go rs IS: that the profits we're Seo'O'V 80, " -,
sha+ a dividend OF per cent was paad on "is f
itai stock Despite the protest OF the rallio ~ ~
,ers the commission admitted the repoi' "Ilu .
shearn read portions OF II to the oiiio'A'
rapher. -, ,ovned IN
answer any questions relating 10 the hiiile 81,
sale of coal He declared that the resOia-
tariff rates were paid for transportatI"A ~
coal companies controlled py 'he i'a0 ,a5 nv
l,esng that paid for independent coal carr 80,
tba cou,nany's railroad Transportation was ''e
most important part OF the company business.
.,,sr Baer told US yesterday Commissioner y CO.
mans said that the Reading Railroad Coli''ans -.
would be satisfied with per cent on lls c0P'''
vested How do you feel about mat ..
"A railroad ought earn more than pc. CO. 60
.berA is large capital invested and the risAs d
You lose money II y,u buy from the coal com,
r,sntes at the 65-S5 per cent rate ana pay ~
freight rate?" Mr.. Shearn asked
The commission ruled that the queSuoh ""S
pertinent although counsel objected MI
dale denied that there was any loss anu SIu 20
At he
profit to the dealer after the fun freight id'e u
paid. -, - k .ho
price circulars issued monthly by tne LEI" =.
Iackawanna and Western in 1901 ana cary IL
laa2 The following examination then occurred
Q.-who fixes these prices? Al DO or my rep
ODD You confer with other rail- railroad 3 PTssl GTic
for this May? 81 hays ,ys T Rnd Tbomss and the
ences with Mr. Baer Win =; nj tba coal carrying;
o~it appears that all your prices are the same: same;
the other companies were TO eersi iT Knowledge in
advance and have exchanged clrcuiaIs Msa NstnI
Inent between No liability rests on any u ~
OF has been your custom 10 confer IN ad-
NC ana let the others know the price you We're
going 10 charge? Al have zone 50 Ioi 'N0 IDS"
cIPTior to issuing your circular for April I
1901 did you have eonieTeHGe recnIecton Of such
oonference II is possible that we had a talk M
must understand that the fact that the price
lists agree does not mean that the prices are the
the selling prices to be badly demoralized 80.
-nssintaJneds Avery often they are not wish
10 deny most emphatGaly that asa as r Tesu sqreed cd
n AZ The Price TO be charged for coal by our
company
..,-o,,- renort OF 1901" Mr.. Shearn said says
that The favorable business of the year is due to
have reason to believe will prevail for an indeh-
ni,e period What do you mean by most har-
Inonious spirit %
L don't know exactly. I suppose 1 meant we
we're not cutting each others throats. did not
mean that competition at an end.
still referring 10 the report OF 1901. MI Shearn
asked the witness what he meant by his prophecies
of prosperous times result OF the concehIra-
1ior Of the anthracite business in fewer and more
conservative hands. Mr.. Truesdale said he could
not tell exactly what in his mind at the uIne
and Mr.. Yeomans suggested: go, - ..,,
Perhaps you were trying to Jolly your stock
hoIoers Mr.. Truesdale thought the commissioner
AZ to tha formation Of the Temple Coal and Iron
COMPANY the agreement and the part the Dela-
ware I.acka wanna and Western took in guarantee
ING its $40 9slOeG of stocks and bonds Mr. TTues-
dale on the advice of counsel, had nauSht 10 say
H. 5sid that following the recent strike. lle
Delaware. Lackawanna and Western carried t1e
coal of the independent at the percentages
Of 90 and s. He admitted that the uoeWater prlCe
g. , -.
Ibid you report 70 the Interstate Commerce Com
mission that getting 81 10 ton fer trans
portation?' asked MIR. Shear:l-
Mr. TTuesdale said he did not and counsel ar
x.,lad that the ceai the property OF the Dela-
but as the coal company its charter privileged II
80 be. Ex-Governor Budd referred to the decision
in The Northern Securities case. and declared the
t-irc1it Court Of Appeals had held that no state
could give charter that violated the laws OF tha
United States
Tbe commission adjourned until Tuesday May
rs In the time the refusal or the railroad
coupanies TO submit 10 the commission their con-
tracts with the coal mining companies VIII De SUD-
unitted 20 the United States Circuit Court Tor a