The daily banner. (Cambridge, Md.) 1897-2008, 1919-01-24
ADJUST COAL TO
HIGHER PRICES
Anthracite Operators Expect
ven Sitter Rates.
&c LIFTS TO-; ,iisQ.
Philadelphia Estate Receives Royal
ties as High as Si.1O Ton-Care-
full Not to Mine Surplus.

potTSville. Pa. Jan. 24.-Anthrac:te
coal operators do not create sur
plus for fear of lowering prices.
Tbs admission was hiouGht out NJ
the first session in The court houSasof
the United States senate manufacture
ers' committee inquiry. 1t is to deter
mine the causes for the anthracite
shortage last winter and the inflated
prices.
Fred NJ. Chase, Wilkes-Barre, vice
president and general manager Of the
Lehigh Valley Coal company and Coke
brothers company. Inc, said prOduc-
erS were opposed TO running up sur
plus as il matter of business protec-
ton.
Nlr. Chase threw this sidelight OH
The reason for Mr.. Householder gasp
ing every time he sees coal bill
after a peppery col!oquOy with Sena-
tor Reed, Missouri. The senator charg-
ed the witness with lodging the issue.
Mr. Chase suavelE protested he was
anxious to bare all the secrets OF the
coal trade to the nquisitors.
Huge areas in the mine fields are
owned by his corporation, Mr.. Chase
testified, but many had not been de-
veloped. He refused to lease or sell
the property, he explained, because it
would open up competition.
Further admission was made that
PENNSYLVANIA "cOal barons" are look
ing forward to better times and sub
Stantial increase in anthracite
Operators must get more for their
output or go out of business. So tes-
titled F. H. Lemning, general manager
of three Independent collieries, Operat-
ing in the Scranton field.
Are you operating your mines at
profit" asked Sc!asor Reed.
NO, sir; we are operating at a loss
and are hoping for better times" Mr..
Lenning answered.
"Then you think there will be a
reduction in coal prices, after war
time conditions are adiusted?" inquir
ed Senator Vardarman.
"I do not" was the answer 1--WE do
not get enough for our product, and
VIC wv, a ~ VI oE1SiotOAo .ssAAA
have to go out of business. We have
sincere hopes of the prices going up
further"
"That may be a sweet hope for you,
but it's a tough one on the publicfn
suggested Vardaman.
The lucrative mine holdings of tthe
Girard Estate, Philadelphia, next were
investigated by the committee. The
witnesses were I. Hazleton Mikkil,
Philadelphia, general superintendent,
and james Archibald, field engineer.
The estate, it was testified, owned L.,
600 acresl of which 44S0 are in coal.
Shipments from it's mined proper
ties amounted to 3,353,15 tons in
1918, with royalties of $2,486,930.17.
Royalties, it was testified, ran as high
as $1.1O ton. .
The grilling of Mr.. Chase began
when he hesitated in answering the
question of William Wilhelm, counsel
for the committee, about how much
nnmined coal his company owned. He
said he did not know.
The stock of the two companies of
which he is an executive, Mr. Chase
testified, is owned by the Lehigh Val
ley railroad The operation owns or
controls about 100000 acres of land.
OF this he held 1900 acres contain
ed coal.
II wish l knew what was in the
rest" he observed.
One tract of 26O acres, he said his
company paid $4,000 annually as a
royalty, though not shaft had been
sunk
"Well, then, if coal was sufficiently
high in price, you would develop
these virgin properties" commented
Mr.. Reed.
presumably So" answered the wit
ness.
THE output of coal by your COM
pany could be vastly increased" prod
ded the senator
Eyes, but the condition Of the coal
Nlarket does not warrant extensions"
responded Mr.. Chase "Our mines are
now producing more coal than ever
before We are limiting the produc-
ton so as not to Overstock or create
Il surplus in the market. We produce
inst what we can sell"