The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1917-08-23
COAL DEALERS
LEFT TO HOLD
SACK THROUGH
PRICE FIXING
Richmond Yard Owners
Have Thousands of Bush
els Stored Which They
Bought at High Prices.
ALL RESENT ACTION

Retail coal dealers Of Richmond are
left to hold the sack, as a result Of
President Wilson's action on the coal
situation. according to present indi-
cations.
Every coal dealer in Richmond has
large supply Of coal in storage,
bought at high prices. Unless the
government permits the dealers to
dispose Of their present stock at a
fair margin of profit, thousands Of
dollars will be lost by them, they
claim.
Several dealers said they expected
the prices to fall very soon while
others claimed that present prices
would prevail throughout the winter.
Goodrich Urges Delay.
Governor Goodrich, however, has ad-
vised the people Of Indiana to wait
until the prices fall or some definite
action is taken by the government
before buying their winters supply
Of coal
c. S. Heet, manager Of the Hack
man, klehfoth and company, one of
the largest dealers IN Richmond,
said Thursday that it would be un-
just to the retail coal dealers of the
country to force them to sell the coal
they now have in storage far below
the price they have paid
He predicted that many retail coal
dealers would fail II forced to do
that
dealers could sue the government to
recover what they had lost, due to
the government fixing prices.
Approves Regulation.
IT believe that it is a wise thing
to regulate prices. But coal isn't the
only thing that is high. The govern
ment should not discriminate against
the coal dealers"
His company has more than 1000
tons Of coal In storage. He said that
In his opinion the company would lose
more than $4,000 unless allowed to-
dispose Of the fuel at present prices.
of from $3.50 to $500 per ton.
And lowering Of the prices at the
mine will not stimulate production"
he said "If the operators profit is
cut the miners will not get the IN
crease In wages which they have ask
ed for In many localities. and there is
a possibility Of strike"
II the government fixes a retail
price and does not allow dealers to
dispose of their present stock, which
they paid high prices for, many deal
ers may be forced to the wall, he pre-
dicted.
Mostly West Virginia Coal.
Most Of the coal handled by Rich
mond dealers is bought at the West
Virginia mines. Dealers have been
paying $3.50 and $500 a ton at the
mine for lump coal, they claim, and
then pay $1.15 ton on transporta-
ton The price as fixed by President
Wilson is S2,25 a ton, the dealer be-
ing required to pay the freight rates
as always.
Dealers believe that the retail price
of lump coal will be fixed at $500 q
ton
Price for Indiana lump coal at the
mines has been s3.75. according to.
dealers. The presidents price is 1920
for lump coal There Is freight rate
Of $1.00 ton on coal shipments at
Indiana, which the dealers must pay.
Dealers say that West Virginia
coal is better than Indiana coal for
domestic use.
Production Costs Differ.
o. D. Bullerdick said he does not be-
lieve the president can regulate the re-
tail price because of the different cost
of production in the various mining
districts.
He predicted that there would be a
scarcity Of fuel as the result of the
presidents price making, as the op-
orators can get a better price FROM
greater part Of the fuel thera
Says Twill Take Year.
Raymond B. Mather OF the Mather
Bros. company. said he didn't believe
the government would fix the retail
price. He said that in his opinion the
price of coal would not be considerably
lowered for a year or more
His company he said has about L.
600 tons OF coal in storage, the biggest
amount ever stored by the company.
All Of the dealers say that the
President should have fixed the prices
in the spring before the dealers had
laid in a large supply for next win
ter's use.
John Starr of the Starr and Wood
hurst company said that the dealers
would have to take their medicine.
He said the President is behind the
times and was slow in acting on the
situation when if he had taken action
early in the spring dealers would
have known what to expect