New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-29
Soft Coal Prices
Cut 81 to S. a Ton
At u. S. Request
Defence Council to Confer
with Anthracite Oper-
ators in July

Washington, June 2s Sweeping re-
ductions in the price Of bituminous coal
at all mines cast Of the Mississippi
River. ranging from 81 to So a ton to
the public, with q further cut Of 30
cents for the government, were agreed
on to-day at conferences between the
operators and government officials The
new prices become effective July !.
Four hundred operators who gath
cred here yesterday at a call from Sec
rotary Lane and pledged themselves to
furnish their product at reasonable
price were represented in the final con-
ferences BY committees from each field.
Earlier in the day they had agreed to
place the price fixing in the hands Of
the government, through the Defence
Councils coal production committee.
Secretary Lane and Commissioner
Fort, Of the Federal Trade Commission,
thus avoiding the possibility Of violat-
ing the antitrust laws.
Director Smith of the Geological Sur
yey estimated tha. the reduced prices
would mean that the operators would
get Sls00O0,0 less annually for their
output, and that the saving to the gov
eminent and the coal consuming public
would be even greater.
In addition TO limiting prices on coal
at the mines, II was announced that job
bers, brokers, retailers and commission
men would be permitted TO charge com
missions OF not more tnan % cents
ten. and that no more than one commits
sion should be charged. In other
words. the consumer viii get his coal al
the mine price plus TRANSPORTATION
charges and - cents ton.
The agreement does not affect an
thracito, and the coal production com
mittec announced tonight that action
on that problem had been postponed
until after July l by agreement with
the operators. The anthracite producers
have indicated willingness 70 meet the
government in the same spirit mani
tested by the bituminous men.
In the final conferences trade secrets
between competitors, cost prices and
other confidential information we're
laid on the table, and the government.
acting as judge. decided what should
be the highest prices paid at mines.
prices 10 90 into effect on the first
of July. to stay in effect until in
yestigatiOns are made and other
changes ordered.
Representatives from various states
were asked 20 quote the minimum
price It which they could furnish coal.
The Cleariield district of Pennsylvania
agreed 10 cut its price for coal as II
was loaded at the mouth of the mine
from S5.25 TO SO, with $3.50 for lump
sizes. Tennessee came down from
$3.50 TO SO. Virginia did likewise.
West Virginia reduced the current
contract price OF $500 TO SO. and Illi-
nois and Indiana reduced their prices
to S275 for coal "a it came from the
mine.
Alabama, which mines under difficult
conditions with special expenses. re-
duced its price from $3.50 TO So at the
lowest and 81 az the highest. Mary
land lowered its estimate from So. 30
to the standard figures. So and $3.50.
Only the districts west Of Illinois
Iowa, Wyoming. Colorado, Oklahoma
and the Southwest which were not
represented. remain yet TO be account
ed for. and there is no doubt in the
minds Of officials that these districts
will agree to the price reduction.