the aim of achieving unquestioned leadership of the coal trade on the Delaware. The Reading's Port Richmond facilities in 1852 were estimated to comprise , including 20 wharves that would allow more than 100 vessels to be loaded simultaneously, and space for storage in slack times of a quarter million tons of coal. Franklin Gowen endeavored to improve upon the benefits to the Philadelphia and Reading Railroad of this shipping terminus / transshipping hub. In 1871–72, he undertook to undermine business of the competing independent coal dealers in the area—known as "factors"—by setting up a new sales organization under the auspices of the Coal & Iron Co. Gowen's aim was not only to market the Reading organization's coal, but that of other mine operators whose output the railroad hauled, as well. Depicting the factors, who sold typically at commissions of 20 to 25 cents a ton, as sitting "at the water's edge like leeches, sucking the life-blood of a healthy trade," he offered to operators who previously marketed through the factors to sell their coal at only 10 cents per ton. A number of operators found the proposal immediately agreeable. But Gowen's next move was not as well received: he offered to consolidate under the Coal & Iron Co. the sales businesses of fifteen factors who also owned their own mining operations. This proposal rebuffed, Gowen moved to shut down the businesses of independent factors (who did not have their own mines) by denying them continued wharf room at Port Richmond. The public controversies stirred up by all these actions lasted into 1873. Rising above it all, in January of that year Gowen presided over formation of the "coal pool" or "anthracite combination"—including other big coal executives Asa Packer, Thomas Dickson, George Hoyt, and Samuel Sloan—which established "the first industry-wide price-fixing agreement in America." It both set the sales price for coal and allotted the tonnage each member railroad was allowed to haul to market for the coming year. This anthracite combination fared well, even with the onset of a national depression following the Panic of 1873. In anticipation of lagging demand for coal in 1874, a long, formal agreement was put in place to enforce regulation of the trade more effectively. Some coal operators remained outside the coal pool, and for these the Reading Railroad devised a new annoyance: continuing to load coal cars with Coal & Iron Co.