Democratic Sentinel, Volume 16, Number 49, Rensselaer, Jasper County, 23 December 1892 — READING COAL COMBINE. [ARTICLE]

READING COAL COMBINE.

Continuation of the Investigation by the House Committee. The House committee appointed to investigate the Heading Railroad anthracite coal combination resumed Thursday morning in the Commerce Committee room the inquiry it conducted into this subject during the recess in New York, Philadelphia and elsewhere. William H. J*ovce, geqcral fre.ight agent of the Pennsylvania Railroad, wag examined. He offered in evidence a letter dated April 18 last, addressed by him to E. R. Holden, chairman of the anthracite rato committee, New Y'ork, calling attention to the fact that during the last year the Lehigh VElley Railroad Company, through its coal company, had made with individual operators contracts for the purchase of their coal upon a percentage of the prices realized at tide-water. The Reading Company, the latter added, had made similar agreements with a number of miners and shippers, and it was therefore necessary for the Pennsylvania Railway to do likewise if it were to secure the product of collieries that had heretofore shipped over Its lines. These contracts gave shippers for fheir coal 60 per cent, of the prices obtained at tide-water. The letter stated that the Pennsylvania Company would therefore reduce its price for carrying coal to tide-water. Witness said that the price over their road was determined by the law of supply and domand.