West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1884-08-22
Tho Coal Pool.

Tho Coal Pool.
! During the month of October, lSSa,
! tho Philadelphia y Reading Company
shipped from its mines b3 ,Sit tons ot
! coal, equal TO 1000 tons for each full
day worked. That months shipments
! brought To tho company's treasury at
! least $500 j.uOc. And yer we are now
! witnessing the lamcutablc spectacle oi
no coal shipped at all during lone
! periods of dlCucss; not dollar re-
! Ceivod from tho,cNast possessions when
the company 50 much needs money To
pay its interest. all because the pool, OF
! conspiracy, had agreed that no coal
! should he minod or shipped. " hat il
/ the coal pool Five of the lradinn
coal-producing corporations agree tu
! keep coal out of the market; to drain 10
! dry to compel consumers To pay II Ger.
tain price Tor IT, aud 10y not Cutting the
market, To force buyers TO continue
| paying eNhorbitant rates. Cual-yard
men are driven to buy at the advanced
'atcS, and the poor consumer, the retail
| purchaser, the manufactures, and tho
wholesale consumer pay the piper.
The Philadelphia ~ Reading corpor.
! alton belongs to this coal pool. IT.
! hands are tied. It's great IN 'ncs are
! tons of coal ann ned, yet it del ,ults its
| interest. Thousands OF miners are ON
| the crgc OF suffering because hey arc
not allowed TO work; thousands of cars
arc idle; hundreds of locomotives are
cold, thousands of employees are either
out oi work or laborlng ut starvation
| wagcS all because the great pool must
! lc kept up. Tho coal conspiracy To
| hold the market must not 90 down
! NDw, aS TO the cost of Goa To mine
| il costs a ont Sl.o0 II ton. To ship il
| to tidcwatcr at Philadelphia, niLo'y-liyc
miles costs about - cents ton, ul
| sl.tJ i'm all, Tho same coal retals i'm
| Philadelphia ut $500 and ~ u ton
| lhirty miles from the mines IL sells Tor
| SD ton, aud the retail dealers declare
they can hardly keep life aud soul to.
| gcthcr on their mcagrc prohts. On
course, tho Philadelphia ~ Heading
| railroad Company paid at least So.
| 100000 for its coal lands. Coal un.
mined is worth price. At 20 cents
ton, enough could be- mined in thirty
! years TO pay the entire debt, and the
mines could be very proutably operated
| ior at least thirty years more. Many
| say they are good for n hundred years
| II, therefore, coal is worth, first cost 20
| cents ton, unmincd, the value Of
ton 10 the company at tidcwator would
| bO:
| ..'.........,...........S bl
| Mining. ..........,........ .......... q
| transportation. on....................... %
| Totpl...................... "a
If the rcta lers profit is fifty cents a
ton land that is doubtful in all cascO
the company would reap profit OF Mt
| least 81 u ton on every ton of coal It
sold. Making due allowance for loss,
| wear and tear, etc, would reduce the +
| profits for each ton TO about $40 at
| dgwatcr hat is the scheme of the
coal pool. They want that profit Oh
mono at all. They want more than 100
per cent. or they will default in the
| payment of their interest cut down
wages, shut up colicres ana machine
| shops, and create general panic in
| The section in which they operate. " hat
| is the defousr OF the coal pool? They
! say that if there are no restrictions to
| mining, no explicit understanding rs 10
how much each company may mine
| and sell, the market will be gluttcd all
! the time, pri es viii be cut, coal W 20
! begging for buyers, and prices VIII be-
| come SO low that coal mining would
| 80 n become very Improbable. They
/
! date into one giant monopoly, and com
| pei the rnsuhor 10 pay whatever they
may see fit To- ask for il. The Reading
capacity 3 g iual o onc-;hird the ca.
pacty Of the anthracite coal mines Oh
| America; its facilities for cheap mining
| are unsurpassed; It's Goa. property
worth twice the money IL paid for IL,
and yet, be ausc 1t can not r,a.izc 100
per cent. ON iis e nj mining, II prefers
| voluntary bankruptcy, default and
! general shrinkagc OF all its securities
Had tho Reading been an indrpcnd
dent coal m ncr aud shipper t cOId
! have sent To- market i'm the past three
months enough coal, and sold t ai
that. % have realized sufficient money
tJ pay its interest Had it sent its coal
10 market, consumers would rave cen
able 30 purchase coal at reasonable
rates, refreshing opportunity which
the coal-pool do s MT propose 20 tOlor
ate just yet. If The Reading Company
were an independent coal-miucr free
from al n iancos. Nandiug upon its
own bottom, rs al legitimate business
enterprises should. BY working fdl
time, it coul easily send to market and
sell ,.OJ,DN0 tons OF coal every year.
which would be- equal 10 clear pro
a Fl ,OOJ,OUO month. iut the pool
SAYS: "No, shut our mine; discharge
your mon, wait, wait, and compel
higher prices an there is q chance
that your profits will bc greater II
was while waiting for those pro IS that
The oading became apparently bank
rupt, and rcclcd and fell uu or JOS
heavy load 70 vas waiting until he
time came when the buyer the rctlile.
the MANUFACTURED would be- compelled
tO pay eXOrbitant rates. u was race
between thc two, and the consumer
won, because, iu some instances. me
hut zap shop rather than buy, and q
other instances bought only enough TO
ruu half time. he consumer uud.r.
stood the coal-poDl. and refused TO bow
and buy COR. ChicayO Times.