Show V ANIA ROAD TO GET RID OF ITS INTERESTS IN COAL Action Forestalls Possible f Suits for Violation of Federal Federal Fed Fed- era eral Laws ADELPHIA Sept 26 Is Ja believed cd to be tho first move o on the part of or tho the Pennsylvania hanl ran railroad I gradually to o o Itself of property was as made extraneous to transportation when hen President Samuel Rea n nan announced announced announced an an- today that the tho board of or directors had decided to dispose of or Its Us security holdings in all anthracite cool coal com corn companIes companies panics that are atc attached to its tern tem Tho The simple statement that the tho company Intended to soil sell it Its hard coal all that could bo be gleaned Interests was I at nt the general offices of tho the corpora corpora- tion tien Officials declined to give reasons for tor the proposed sale or tell who tho the prospective purchaser might be The announcement came close upon the report that the thc big biff railroad corporation corporation corporation cor cor- IB us about ready to divest It Itself It- It self of 01 Its controlling Interest in th the Cambria Steel company compan which amounts to about The Tho Pennsylvania also Iso hold substantial Interests In the Pennsylvania Stool company and the Maryland Steel Stoel company Purpose Is Suggested ted In the absence of ot any official In Information Information Information In- In formation as ae to the tho reason for divest divest- divestIng divesting ing Int Itself of or Its hard coal property a n report spread that the Pennsylvania i officials tal taking note noto of the signs signa ortho ot or tiro tho times planning to dispose ol or orthe the property In order not to come An n conflict with t tho e commodities clause tf cf of the federal l law which prohibits railroads from transporting articles or c commodities mined or manufactured authority In under their bv by them or financial circles It was as suggested that there might bo be a n. double purpose to toI I avoid n po possible friction with the tho federal fed fed- fe federal 1 avoid tho the annoyances an an- annoyances eral fo government and nd to of ot operating outside Concerns con con- cerns Tho Pennsylvania railroad controlled con con- trolled trailed Its Hs anthracite coal properties Coal largely through the tho Susquehanna company compan It mined and transported approximately 10 per cent of the total anthracite produced very little 1 ot of which came to tidewater For the seven een months of or this year up to July coal 31 SI tho the Pennsylvania anthracite shipments amounted to out of or ofis s a. a. a total of tons for tor all aU com corn panics i Tho The coal companies owned or conI controlled controlled con con- i trolled b by the Pennsylvania Include tho the I Susquehanna Coal company compan Mineral Railroad Mining Summit Branch Mining company and tho the Lykens Valley Valley Val Val- ley lc Railroad Coal company While hilo there arc are no of official Ucla 1 figures to bo be hadon hadon had hadon on the subject It Is s estimated that the Pennsylvania's coal properties are arc worth orth between and particularly as to whether r tho the stocks would bo be sold of or the coal conI companies to the stockholders of or tho the Penns Pennsylvania Pennsyl Pennsylvania Pennsyl- Pennsyl I vania anla resulting in simply a from the corporation to the individuals that control It Such dissolutions s donot donot do no not meet the approval nl of oC Attorney General who oho contends that to dissolve a a- combination effectually all ally the property and nd business should be sold to parties not connected with the parent corporation an and thus destroy dc- dc stroy all aU community of or Interest The rhe Pennsylvania's control of coal coni mining properties i li Ia far I less extensive e ethan than that of oC some of or tho the other coal carrying railroads Suits Sulta under both the Sherman antitrust law and tho the commodities clause of the Interstate commerce act already are pending against tho the Reading Rending and tho the L Lackawanna Lacka- Lacka separate sepa sepa- I wanna railroads in an nn effort to rate rato those roads from their coal minIng mining min min- ing lag companies The question of similarlY similarly similarly sim sim- dealing with tho the Erie Eric and Lehigh Lo- Lo high h Valley Volley Is under consideration |