The labor world. [volume] (Duluth, Minn.) 1896-current, 1915-07-31


Of Joining the United Mine workers.
President Whites - statement fol-
.:trs: =. So.
Declaring a. sixty! per cent, dividend
In this city OF .nauon-wid business
stagnation: on a capital stock .of $6,-
$4,000, the dividend itself for: the
year totaling $685., 900, : come. as a.
thunderholt in the business. world.
Not that such a. huge melon has not
been sliced before. but because of the
TACT that the company enjoying this
tremendous prosperity is engaged in
business that has felt more than any
other industry, the general depression
Of business, the coal industry: Such,
however, is, the remarkable accom-
plishment Of the Delaware, Lacka-
wanna and Western Coal company,
the second largest producing company
in the Anthracite belt.
This company was organized six
years ago by the stockholders and Of
dcials Of the Delaware, Lackawanna
& Western railroad. The directors
and officials are practically the same
that dominate the affairs Of the trans
portation company over which the
greater part of the coal company's
product is shipped to. New York, New
Jersey and other eastern markets.
The interlocking relationship Of the
producing company and the carrier
company has constituted the basis of
action Of 1ongstanding suit in the
federal courts to force a separation of
the operating companies. Only week
or so ago a. court handed down in
Washington ordered the necessary re-
organization Of the directing forces,
such: as would meet anti-monopoly
law requirements. It is generally be-
lieved, however; that the changes
made in accordance with this order
will be Of the usual paper makeshift
type and everything will continue as
before. The melon slictng meeting OF
the directors took cognizanee of this
order and voted to undergo this dif-
hcult Encouragement" "'-:t H.. j. ); ::
Anthracite Custom.
coal companies has been to pay the
regular 2h per cent: quarterly divi-
dend amounting to ten per cent. per
annum and permit: the over-plus of
profits to pile up a reserve fund and
to purchase new properties. No one
has ever doubted the big profits Of
anthracite coal mining. But the Lack
awanna company has expanded, made
NOSE costly improvements than any
other Of the big companies, piled up
a surplus of $1.500,000. and then in
addition broke all dividend records.
1913 the fourth year of the COM
pany's organization marked the first
payment Of extra dividends, when the
directors declared in addition to the
regular ten per cent. an extra slice of
20 per cent. TotalinE the extra divi-
dend of so per cent. just declared
Gully - brings the total dividend paid
by this company in six years on. a
capital stock Of $5,590,O0O up to 40
per cent. or a total Of 1926, 900 which
gives to the. stockholders the return
Of their original investment and 81
$4,000 in addition. The stock is still
theirs, and 1t is conceded by all that
the holdings Of the company. without
considering the increased valuation
ACQUIRING from the big dividends paid,
has greatly increased in value. The
fact is that. the D., I. & w. have out
distanced all other operating COM
panies in building for. the future op-
portunities. =. ,.r r. 49,.
.>... Average Production. ,s:ss.. -
The average productions OF coal by
the D., L. & W.; for the years from
1909 to 1913; the figures for 1914 not
being available, was 9,6e6,86&s tons an
n'lally. To produce this amount Of
coal 9.o56 employees were: required.
This figure Of course. includes all mine
bosses, clerks, etc..; 4or,.it sis: in this
manner that statistics are compiled by
the state mining department.
Throughout the fields OF organized
business In ,these' days Of Keen com
petition and business uncertainties it
Is considered the glorious goal Of sue
cess for profits when q business enter
prise reaches the. sound bu4 ess con
dition that will. permit, the regular
payment al, 10 pei cent. dividends.
Many large manufacturing concerns
are in fact sharing profits with their
employees over and above profit of
eight per cent. >->.... 49, ,>r
I, : Suggests Proat-shartng. s
II the surplus that has. been: be-
queathed TO- dividend grabbing stock
holders. produced as 1t was by is, 056
poorly paid employees, over and above
10 per cent, the recognized legitimate
dividend, had been divided among
these same employees equally, each
Individuals share of the overplus
earnings would have amounted 10
$271.41, or an average for every in
dividual employed in or, about the
mines OF $45.23h per year for the six