Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1917-05-15
Plenty Of Coal at Reasonable
Prices = No Need Of Panic State
'ment from Anthracite Bureau

nav for anthracite and as to the VOL
ume of the production and STOCKS On
hand existing at such times.
The Commission has assurances
from the anthracite operators that In
case of local shortages being caiied
to their attention by the Commission
the operators will relieve such ioca'
stringency Immediately.
The agencies which handle and dis
tribute coal after it leaves the mine
and before it comes into the hands Of
the consumer have also been heard to
saw to the Commission, through num-
erous representatives, that they desire
and will expect only a fair and reason
able profit for the useful labor ana
service which they perform.
The fair retail price at any place is
the price at the mouth of the mine plus
freight, plus the reasonable dealers
profit and cost of local delivery. The
May price at the mine of ordinary
white ash anthracite, allowing for the
Accent discount, is approximately as
follows:
Gross ton Net ton
C22.O lbs) (2oao lbs;l
Egg .............. S4.05 $3.6l
60. 40 1884
cSestpu+ 440 3.93
So then, anthracite coal consumers
of the United States may feel assured,
first, that there is an adequate supply
of coal: second, that that supply VIII
be taken out and prepared for use IN
large and constant flow during the
summer months; third. that in so far
as the power of constant scrutiny and
publicity are effective, the Federal
Trade Commission will function;
fourth, that prices at the mine will be
reasonable and such as would not
Justify the average prices now being
paid by consumers.
AS to the price of coal to the con-
sumer for the coming season, TINS
leaves two problems for further action,
either by the Congress of the United
States or by some authority to be
designated by Congress. First, the
elimination of the element of specula-
ton and the charging Of an exorbitant
price or the withholding from use OF
this necessity of life, and, second, the
imperative need of keeping the coal
moving from the point of its produc-
ton to it's final destination and of pre-
venting coal cars from being held out
of use for the purpose of speculative
storage.
The Federal Trade Commission will
have the honor to present to you at an
carly time a further and detailed re-
port and recommendation upon the
anthracite coal Industry.
Respectfully submitted,
(Signed)
JOSEPH f. DAVIES,
WILLIAM II. COLNER,
JOHN F. FORT.
Commissioners.
Chairman William J. Harris did not
sign. being in Chicago, engaged in
hearing on bituminous coal
In connection with the above report
of the Federal Trade Commission your
attention is invited to the following
account from the Public Ledger of May
6. of an interview with Mr.. w. J.
Richards, President of the Philadelphia
& Reading Coal & Iron Company:
Mr.. w. J. Richards, president of
the Philadelphia and Reading Coal and
Iron Company, the largest operator in
this district. declared there was no
reason for anxiety in the coal situa-
ton. He said it was the expectation
of his company to make the customary
summer discounts of thirty cents
ton in June, twenty cents in July and
ten cents in August" (Mr. Richards
had already announced a discount of
forty cents for the month of May).
operation by the consumers in
avoiding the stocking of coal for their
! needs for excessive periods would
greatly assist in caring for the, situa-
ton If this is observed there will be
sufficient coal at all times for normal
requirements"