The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-06-08
COIL PROFITS BIG
Some interesting Figures
Made by Walter WeIlman.
MADE RICH BY TOILERS
Mine Owners Retain More
Than RightfH Share.

Chicago. June T.-Walter Wellman, in
an article discussing the anthracite
strike. says that large profits are made
by the corporations and firms engaged IN
the anthracite coal business Their prof.
ito are so generous that there is no eco
nomic reason why they should not grant
at least a part of the demands made by
their employees. The profit on anthracite
coal. after taking out the cost OF mining,
and a reasonable allowance for hauling
to narket.sis at least equal to the entire
labor cost Of getting the coal out Of the
colIierfes and upon the cars for shipment.
In addition to working under an anti
quated and unjust system. labor in the
anthracite fields. does not get its fair
share of the profits Of its toll The mo-
nopoly trust organized by J. Pierpont
Morgan. w. K Vanderbilt and other
fnanciers takes more than its rightfui
share. Any pretense that economic con-
siderations viii not permit an increase
OF wages. a shortening Of hours or a ref
ormation OF the system is hollow sham.
Nearly all Of the so-caled independent
operators have acquired comfortable.
some Of them large. fortunes. They made
money. even while they were fighting the
railroads Now that they have permitted
the railway combination TO BRIDE them
into peace with 60 per cent of the gross,
they are getting rich faster than ever.
If any operator Ia. failed in business it
is because he wouldn't come in" and
join the monopoly.
As a result Of monopoly control hard
coal is sold from 50 to 70 cents ton
higher than the economic conditions war
rant, and that much higher than would
be the case were not interstate trade IN
lawfully restrained by a conspiracy to
suppress competition. Placing the unlaw-
ful part Of the profit as low as 50 cents a
t9n-and legal Investigation Will proba-
bis show that it is much higher-that
makes .2e500.0o0 a year unlawful profit
on the 100000 tons sold. a tidy sum,
surely; a sum by the side of which the
100000 OF s4eoo go concession 70 the
miners, which would settle this strike in
the twinklins OF an eye, seems quite in
significant.
Pierpont Morgan, ". K. Vanderbilt and
their associates were tempted by the pos
sibiity of large profits 70 attempt a mo-
nopolistic combination in this field. They
succeeded. They are reaping the profits.
and with them are rehabilitating railroad
properties full of watered stock. which
thrived but poorly during the competitive
era. Now they are met by another mo-
nopoly, that of the labor which produces
the golden eggs. and out Of their plenty
they have so far declared they win yield
not a penny; they concede nothing; they
have nothing to arbitrate.
What is the cost of mining coal? Oper-
ators tell me it varies all the way from
SIS ton to 81, depending upon the physi-
cal characteristics OF the colIiery. Miners
and their friends say it costg only H35
to $1.5o. I have looked into this important
phase of the question on my own account
In 1883 the Reading Railway company,
in its annual report TO its stockholders
7,c09,ea9 tons of coal at cost Of s.. As a
ton. and had bought more than 1850, 60
tons from operators at an average cost
of SleO a ton. DR.. Roberts. in what was
called AN Authoritative view of the
Anthracite Situation" recently written.
put the cost at S1.55 ton The Coniery
Engineer. in its report covering collieries
employing 1900 men in 1895. had these
data from the books Of the operators: