The Dalles daily chronicle. [volume] (The Dalles, Or.) 1890-1948, 1894-02-16
WILSON BILL DID IT.
The Renton Coal Company Forced to
Shut Down.

The Renton Coal Company Forced to
Shut Down.
SAN Francisco, Feb. 15.-It is only a
matter of short time until the last
vestige of what was once the leading
coal firm of San Francisco will have
passed out of existence. A combination
of adverse circumstances has gradually
driven the Renton company, which
owns a mine in Washington, to the wall,
and not the least of these is the reduc-
ton of rs cents ton under the Wilson
tariff bill, when business reached such
condition that it could not be con-
tinued unless at loss. A. M.-Simpson,
lumber merchant and ship owner, who
was the largest stockholder in the COM
pany, decided to wind up its business.
A meeting of the directors was held and
Simpson assumed the company's in
debtedness and had its accounts, prop
erty, bills receivable and contracts
transferred to him. He also undertook
to pay all bills against the concern and
to discontinue the coal business with all
possible dispatch. E. w. Bushnell,
president of the Renton Coal Company,
says that the discontinuance could not
be regarded as failure in the accepted
sense of the word. Said he: "The
creditors will get 100 cents on the dollar,
for as far as our Indebtedness is con-
cerned Mr.. Simpson is good for much
larger amounts if it became necessary to
call upon him. But the debts can be
~ Ix,k k6o
1 don't know how Mr.. Simpson will come
out with his own stock in the company.
All other shareholders will get their
stock paid in full. We had to close
down our mine five years ago, when, on
account of the large wheat crop, many
ships came from England to San Fran
cisco with coal instead of ballast. After
that coal was imported cheaper than
ever, and the increased supply cut the
prices SO we had to shut down. You
know when 81 day has to be paid for
labor it is not possible to compete with
I3 or shillings, perhaps less. The coal
on the Pacific coast is not quite so good
as the English, and consequently it did
not command the same price. After all
that, here comes the Wilson bill knock
ing off 70 cents ton and running our
business. will tell you straight now
that the Wilson bill has forced us out OF
the business
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