Denver labor bulletin., 1915-07-24

Workers OF America, is making whirl-
wind speaking campaign thru the Penn
sylvania anthracite coal region In a
recent address at Scranton he paid his
respects to the Deleware, Lackawanna &
Western Coal company. This company
is one of the large owners of anthracite
coal mines. President White told of the
late melon cutting dividends OF the CON-
pany and pointed out that miners must
organize to insure an equitable wage
from the enormous profits they produce.
Following is part OF his address:
Declaring sixty per cent dividend
in this city of nationwide business
stagnation on a capital stock of $500,
O00. the dividend itself Tor the year
totafing 81. .a54 900. comes a. thunder
bolt in the business world. Iot that
such a huge melon has not been sliced
before. bu. because OF the fac. that the
company enjoying this tremendous pros-
psrity u engaged in business thai has
fslt more than any other i'tdustry. the
| 4rn.ral preston II business, the coal
| industry such. however. is the remark
| able accomplishment of the DeleTare,
I.ackawanna and Western Coal COMPANY,
| the second largest producing company in
the anthracite belt.
Interioeking Relationship.
This company was organized six wears
ago BY the stockholders and officials of
the Deleware. Iackawanna & Western
railroad. The directors and officials are
1 practically the same that dominate the
affairs .of the transportation company
over which the greater part OF the coal
company's product j. shipped 10 New
| York. New Jersey and other eastern
markets The interlocking relationship
OF the producing company has eonstitut-
Cd the basis OF action of longstanding
-uit in the federal courts TO force a sep
aration Of the operating comPauies- Only
week or 20 ago court order handed
down iu Washington ordered the ueces-
-ary reorganization Of the directing
iorce-, such a. would meet anti-mou-
opoly law requirements. IL j. generally
believed however. that the changes made
in accordance with this order will be- Of
the usual paper make-hift type and
everything viii continue A. before. The
melon sliciug meeting Of the directors
took eognixanec OF thi- order and voted
TO undergo thi- difficult Encouragement.
The Anthracite Custom.
The custom among the anthracite
coal companies has been to pay the
regular 2i- per cent quarterly dividend
amounting to ten per cent per annum
and permit the oveT-plu- OF profits to
pile up reserve fund and to purchase
new properties No one has ever doubted
the big profit. of anthracite coal mining.
But the Iackawsnna company has ex-
panded. made more costly improvements
tfrsn any other ~sf the big eompanies,
piled up a surplus of 81 .Joo.ueo and then
in addition broke all dividend records
- - - %
organization marked the first payment
OF extra dividends. when the directors
declared in addition to the regular 10 per
cent, an extra slice of 20 per cent.
Totaling the extra dividend OF 80 per
cent just declared lJuly u brings the
total dividend paid by this company in
six years on a capital stock of s. $40 90
up to lao per cent, or a total of sa.ssh,-
400 which gives to the stockholders the
return of their original investment and
50 Gld. 600 in addition. The stock is E.ill
theirs, and IL il conceded by all that
the holdings OF the company without
considering the increased valuation ao-
cruing from the big dividends paid. has
greatly increased in value. The fact il
that the D.. l.. 4 W. have outdi.tanccd
all other operating companies in build
ing for the future opportunities.
Average Production.
The average production OF coal by
the d.. l.. 4 ". for the years from i!ul
10 1919. the figures for 1914 no, being
available. was a.GG6 .GG6 tons annually
To produce this amount of coal 1885
employees were required. This figure OF
course includes all mine bosses, clerks.
etc. for il j. in this manner that stat
isttcs are complied hV the state mining
department.
Turnout the fields of organized bp,i.
ness in these days OF keen competition
and business uncertainties it il eonsid-