New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-05-25

ty OF life which they have cornered.
b The cost Of transportation enters more
directly. perhaps into the cost Of pro-
ducing anthracite than it does into the
production cost of any other commodity.
1t has been estimated that only II per
cent Of all the anthracite mined is con-
sumed locally or at the mines. The rest
must be shipped TO the centres OF popu-
lation.
The consumer in seeking 70 analyze
his coal bill. must. therefore, figure In as
profits of production the profits OF the
common carriers as such. apart from
their profits as the owners OF the mines
And the carrier operators, in pleading
greater cost Of production az an offset
for price advances, must JUSTIFY tneir
freight rates and dividends.
II was brought out in the governments
, suit against the anthracite trust that III
the fiscal year ended June 30, 1905 an
thracite constituted 33 per cent of the
total freight tonnage Of the Philadelphia
& Reading Railway. which is owned by
The Reading Company, and contributed
IL per cent of its gross receipts from
freight and "a per cent Of its gross re-
ceipts from freight and passengers. l's
not earnings in that year were more
than $4,000 600, over 81 per cent OF It's
capital stock. and its surplus on June 80
1eos was $40 1862 O66. Although this rail-
road continued to pay annual dlVldehds
of 25 and 80 per cent. its surplus TWO
wears later had increased 10 $ll,5'2'soo'
The government discovered that in the
same fiscal year anthracite constituu'u
AZ per cent of the total freight tonnage
Of the Central Railroad of New Jersey
and contributed - per cent OF lts gross
receipts from freight and ~ per cent OF
it's gross receipts from freight ana pas
sengers. Its net earnings In that year
were $4,000 0OO or 81 per cent a. us
capital stock, and its surplus on june
20 1905. was S10,5S3, ,3O6. This COM
panv was then paying its stockhoIders
dividends of per cent a year. In 1910
il paid a dividend of II per cent. yet IN
June. 1910. its surplus had increased 10
ST. 5963
The Lehigh Valley Railroad in tho
same fiscal year carried enough anthra-
Cite to constitute A. per cent of its total
freight tonnage, and contribute 30 per
cent of its gross freight receipts and IS
per cent of its gross receipts from both
freight and passengers. Its net earnings
in that year were over S13,oOoOoo. 33
per cent Of it's capital stock.
Lackawanna Prize Exhibit.
The prize exhibit. however, is that OF
the Lackawanna. Anthracite traffic con-
tributed in 1910 J3 per cent Of this roads
gross receipts from freight and IL per
cent OF its gross receipts from both
freight and passengers. The year before
il had paid a dividend of 50 per cent on
it's capital stock, and yet on December
81, 1910, it's surplus was So, ,I49,IS9. 1t
regularly pays dividends of 20 per cent.
These are the four typical anthracite
railroads. Anthracite, being carried In
bulk in uniform trains of specially de-
signed cars. loaded and unloaded largely
nv era vitv. is economical TO move as COM
pared with general merchandise. Yet
these railroads. with one exception. the
government discovered, charged more
ner net ton per mile to move anthracite
than 10 move general merchandise.
The testimony in the governments suit
showed that over the Philadelphia Il
Reading Railway the entire haul OF an
thrscite from mines TO vessel bottoms at
Port Reading. in New York Harbor. or
Port Richmond, on the Delaware. cost Oo
cents. The rates at the time. and they
haven't dropped since, were 81 % ton
to Port Reading and 81 30 a ton TO Port
Richmond; that is, on prepared sizes.
THE exorbitancy of the tolls Tor
TRANSPORTING anthracite" said j. c. Nc
REYNOLDS and q. e. Todd special as
slstants to the Attorney General, In
their brief for the government, lis again
brought out in strong relief by COM
narison of the rates on that commodity
from the mines TO tidewater with the
corresponding rates on the article or
freight nearest like IL in circumstances.
bituminous coal The rate of the de-
fendant roads on prepared sizes of an
tbracite from the mines TO the upper
norts Of New York, +. o. b. vessel. Is