The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1909-04-16
COL P,r,o.s.,,ecl

Senator IEtkins. who ii certainly
ID weil qualified ny long experience
ii the coal business rs any man IN
West Virginia, says the Eairment
Times To- estimate the profits in
mining ana shipping coal, in a
speech before the Senate committee,
said that 1t is known that the aver
age profits on bituminous coal Is
nut fifteen cents per ton, and that he
believes that even a small disturb
ance would work great harm to the
business and the men employed in
it," This same statement was made
to the coal takers at the last session
Of the legislature in answer to their
repeated assertions that the coal in
dustry was making tremendous prof
its which ought to be shared with
the state in the form of special
taxes, Senator Elkins Is right.
There are but small profits in the act
ual operation of coal mines. It is
true that great fortunes have been
made in the coal business; hut they
have not been made by the practical
operators. They have been made BY
the Spectators in coal lands who
have bought properties and sold
them at great advance. Perhaps
the wealthiest man engaged in coal
matters is j. v. Thompson, OF unioa-
town, who is alleged to have made
upwards of fifty million dollars in
transactions involving the btiyine
ana selling OF coal lands; yet We
have never heard that Mr.. Thompson
ever owned or operated single coal
mine. So many men have grown
rich by these coal speculatfons thai
the public mind is confused on the
subject, and it ascribes prof.
its to the actual operator that have
never been realized in mining ant
shipping coal. When the hazard.
and the risks of the business apart
from its ordinary expenses are con.
sidered. most intelligent operator,
viii agree that Senator Ell,ins..
statement as TO profits was probabl,
In excess of the actual fact rathe,
than below It. Speaking Of the ex
traordinary hazard OF the business
the profits OF years work may b,
snnffed out in ten seconds nv an ex
plosion like that which occurred a
tMononeah. 1t is said that the los,
In this way in the lower end Of tn,
State has practically driven one .ol
two of the wealthiest concerns al
most to the verge Of bankruptcy
Therefore in Its present precariou.
situation the business wants nc
further disturbance. II fifteen cents
per ton is the average profit, as Sen.
ator Elkins said. IT can be readil,
seen that such business will moi
stand the imposition OF an income
production tax like that pronosed
7 e WINTER winch would have as
sessed about three cents per ton 81
each ION Of coal mined and sbinnad
from West Virginia. II yill
not stand an Increase q
three and three-fourths CENTS
per ton in the freight direrantial.
ana itywill not stand free coal,
which would allow the cheap coal Of
Nova Scotia to come into competition
with ours IN the coast markets and
taerehy reduce the profits which are
now too low to aftord encourageghen,
to Investments and operations In coal
properties.
ln this connection, It Is not i'm
proper to say that frequently coal
qpeMtors run their mines at loss
simply 70 keep their men in employ
lnent and TO prevent the dismantling
p their mines, IN Mondays Times
4 was stated thas there was a prom
ise Of greater activity in the gnines
n this region. and that large con