The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-04-27

have made McLoed's name dear to
every individual operator. there was
profit 20 the miner under fair condi-
tions Of from % to 20 cents ton. The
average would certainly not exceed 80
cents. This surely Is not an exorbitant
profit to the man who deals In such a
limited product and must from 1t re-
duce his capital account, as well as
earn a fair interest. But whether eX-
Orbitant or not, 1t was an experience
that he never had before and is not
likely to see repeated. A careful esti-
mate satisfies the writer that individ-
ual collieries, with an average invest
ment of S250,000 have not during at
least seven years of the ast ten real
lied an average profit of IL cents ton.
And the fact must not be overlooked
that the individual operators ship near
ly one-third of the total anthracite tom
mage. If the larger corporations, like
the two Delawares,' New Jersey Cen
trail and the Pennsylvania Coal conf
pany, have realized any larger profit,
it has been because, owning their coal
lands. they have had no royalty to pay.
But their capital or real estate account
has been continually decreasing in
value to a corresponding amount.
During the last year. owing to over
production, and especially to bad man
agement. the business has been partic-
ularly Improbable. AS an example, let
me give the actual results at one col
liery, where over $i00, 900 cash has been
expended in improvements and nearly
seven hundred men and boys are en-
ployed
I'm July. 1895, 1t shipped l2,SS3 tons
In August 1895, it Shipped ss5s tons ;ii S'-' y
and lost ..:..............20G Ss
tons and lost ....................... 30 "A
-, tons and made ...:...;.: 49,. :l,o36 OF
tons and made .:...;,.....,;..... .l,5S5 Os
tons and made ..:................... 1,C32 So
tons and lost ..:........... 22I So
tons and lost ...........,...........2 2Gi9 %
CANNOT STOP.
Eight months operation shows an
actual net loss of $2,645.47. not including
one dollar for construction, deprecia-
tion, interest on loans. or returns on
investment. But the most serious fea-
ture is that during that time over 1O5, :
600 tons of coal, totally depicting twen-
ty acres of ground. have been wasted.
1t has gone. with no possibility of being
replaced. And while this is not one of
the best collieries in the region, its rec
ord is probably not far from that of the
average colliery during the same time.
But, the reader will say, why don't
you stop, when you are losing money so
fast? For several reasons. Stopping a
single colliery like the above throws
hundreds of employees out. with slight
possibility of securing work elsewhere
Then the payments for royalty do not
stop, nor do the expenses for pumping.
ventilating, repairs, etc, which must
be kept up whether the mine is working
or idle
"As to the larger corporations, only a
few words are necessary. While, as
stated before. they usually have no
royalties to pay, it is not generally sup
posed that they mine coal as economic
ally as the private operator, and 1t is
doubtful II net results are essentially
different. Their annual reports GER
tainly confirm this view. They repre-
sent large aggregations Of capital, it Is
true. But, as a rule, 1t Is remarkably
free from that Objectionable element,
water The stock and bonds of the
anthracite companies generally repre-
sent actual cash investments, in re-
markable contrast with modern finan-
cial methods. Their coal lands are in
they were mostly bought many years
since; the interest account has been
running heavily against them, and
their valuable contents are being rap
idly exhausted. 1t Is difficult to see
why the stockholders in these old con-
Germs should not secure q fair or even
large return on their holdings. They
would do so. almost without exception,
If the officials of them understood how
rapidly their property is being ex-
hausted, and proper business methods
were more generally applied.
And yet, the moment any effort is
made to put this business on a fair
paying basis, the cry of combine,
barren will soon be nearer the truth.
| Combinations are made in nearly ev-
cry other industry, though they repre-
| sent products that can increase as long
as time lasts. But none must be made
in the one commodity that is being rap
idly exhausted, and can never be re-
placed. 1t Is even publicly stated that
the coal men don't dare to meet to ad-
just prices until after the legislatures
adjourn. If this is true, it is arrant
cowardice. No law that attempts to
compel men to give away their proper
ty. or sell II at a loss, can ever be en-
forced.
THE MORAL SIDE.
zone more question will arise in the
readers mind. Well. even If 1t is hard
for the OPERATOR Is 1t not good for the
public at large? Does it not make this
necessary fuel abundant and cheap?
"A comprehensive answer is that
very low prices to the shipper have
never considerably increased the con.
| ,,,kt AL l.
mine do not always represent low
prices to the consumer The difference
is frequently simply added to the prof
its of middlemen, jobbers and spect-
lators. AS a rule, the coal producer
with his heavy investment, would be
entirely satisfied with one-half The
average profit realized by the middle
men.
There are over 100000 workmen ir
and about the anthracite mines. They
and the other thousands dependent
upon their earnings are surely entitled
to some consideration. Has not Penn
sylvania as good legal and mora
grounds for the passage of laws for.
bidding the taking of any coal from the
state, except it shall pay fair wages t.
The & n nd It.
return to Pennsylvania capital, a!
other legislatures have to insist that il
shall be given away? There is a spec
ial and touching reason for asking fail
wages for these employees. The min,
inspectors records show that every
hundred thousand tons of anthracit,
mines costs human life. besides les.
serious casualties. Working in thes,
veins is far more dangerous than fight
ing in Cuba.
Permit me to add that the owners
of the securities of some Of the anthra
cite companies would find 1t greatly t.
their advantage to pay more attentio,
to their property. In some case
those in control will ridicule as absurt
any such views as the writer has ex
pressed, and point to padded statistics
But the remark is often made here tina
the entire official boards of some tno
AID of those great corporations who's
nj nl iS In itral1 HI nl L..