Milford chronicle., 1903-01-16

NeANNAtA ~ aN~e+Gtia 0~tSN tfA@ @NAAi
paniss Will Continue to Sell Coal
at Present Prices and VIII Protect
the Puhiie-
New York, Jan. IA. - Mayor Low
and representatives of the coal car
rying railroads held an hours confer
ence yesterday to discuss the coal sit
uation in the five boroughs of Greater
New York. The railroad presidents
present were George F. Baer, of the
Reading; F. D. Underwood of the
Erie; Fowler. of the Ontario and
Western, and Thomas, Of the Lehigh
Valley, and s. NJ. Provost, of the
Pennsylvania Railroad. John B. Mar
kle represented the Independent op-
orators.
Mr.. Baer, explaining the position of
the coal roads, said
"BIr. Mayor keenly appreciate the
anxiety of the public to secure an ad-
equate supply of anthracite coal. l
can say, with a clear conscience. that
the companies I represent have done
and are doing all that it is possible
for them to do in relief Of the situa-
ton. The unfounded assumption that
there is a coal combination OF which
l am the reputed head is daily made
by certain newspapers. There is no
such combination l am responsible
for tho oote of fl7o oor,vo.,soe Of r.rhfoh
l am the president, but am powerless
to control the action of the other com
panies and of the individual operators.
''The companies l represent have
steadfastly adhered to the policy of
selling coal to the public at reason
able prices. To protect the public
have given notice to every dealer that
if he sells any of the coal purchased
from our companies at unfair prices
(by that I mean at a price in excess
of the normal profit which a dealer is
entitled to receive) we will arbitrarily
refuse to deal with him in the future
Some of the dealers assert that this is
arbitrary, and that we have no right
to impose such terms. Under ordinary
conditions I admit that such action
would be arbitrary If it turns out
that under the technical laws of the
land the enforcement of such an order
will subject US to an action for DAM
ages 1 have nevertheless concluded to
take that risk.
Fault has been found with the coal
companies because they have failed to
compel the individual operators to sell
coal at reasonable prices, but so far
no one has ventured to tell us how
we can do it. 1t is easy to start out
with the false assertion that we have
the power, but it is not so easy to
show where we get it, or how we can
enforce it. The prices at which coal
is sold by the operators to the large |
companies is based on the f. 0. b. !
market price, New York harbor Some
of the operators point to the fact that !
many others have sold their coal at s8 I
per ton, whereas the circular price of /
the larger companies f. o. b. New York |
is only IS per ton. Litigation was |
threatened. The coal company hav-
ing these contracts was compelled to
face this contingency. Should the
courts decide that the price at which .
we sold the coal purchased from the /
individual operators was not the mar
ket price, but that the market price
was the highest price at which coal
was sold in New York, then there was
a possibility of having to pay from So
to $4 per ton more for this coal than
we received. In justice to our stock
holders we could not assume any such
risk, and no fair-minded man could ask
us to do it.
"But. without reference to the price
at which any one else sells coal, the
Philadelphia and Reading Coal and
Iron Company and the Lehigh and
Coal Company will con-
tinue to sell their coal at the present
price, and will endeavor (as
they have for the past two months) to
prevent coal dealers from charging
unfair prices on the coal these COM
panies sell to them.
"The real cause of the present scar
city of coal and our inability to meet
the public demand, lies in the fact
that no coal was mined during the
summer months, and none was, there
fore. stored for use during the winter
We are compelled in the winter
months of this year not only to pro-
vide the normal output of the winter
but to overcome the deficit
caused by the non-storage of coal in
the summer months.
eve have dealt fairly with New (
York in the distribution of our coal.
We have tried to keep down the price.
EARLY in the fall, before the strike y
ended, at the suggestion of Mr.. De
Forest. I directed the whole output of
one of the Temple Iron Company's
eollieries to be sent to New York in
relief of the poor. We have responded
to every call to the utmost Of our abil
ty.
1--WE cannot ship all of our coal to :
New York. The whole of middle and
Pennsylvania, with its
arge and small cities, and with its /,