The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-07
COAL DEALERS
RESENT TALK OF
US. OWNERSHIP
Insist Senators Calder and
Edge Are Talking Poll
tics and Publicity
SEE PRICES TUMBLING
One Operator Believes Soft
Coal Will Be "a Drug by
December Is.
COAL RING rs. RTOCKED
SEE PRICES TUMBLING
COAL RING rs. BLOCKED
But Anthracite Shortage on
Staten Island Is Acute and
Distress Reported.

Distress Reported.
Representatives OF the coal industry
resented yesterday joint statement
made public by United States Senators
William NJ. Calder and w. z. Edge Of
the Senate Committee on Reconstruo-
ton and Production, in which they
announced that unless the price of
coal dropped substantially before the
converting OF Congress on December
8, and unless the prohteering coal
interests reformed themselves, they
would press a bill for the Federaiiza-
ton Of the coal industry.
Many of the large wholesalers ex-
pressed the view, through the Whole
sale Coal Trade Association Of New
York, that by the time Congress- re-
convenes conditions will have been so
materially bettered that no excuse Will
remain for the threatened rationale
zation OF the coal mines.
ssTaIkfng Politics and Publicity"
George NJ. Dexter of the firm OF Dex-
ter e. Carpenter, coal wholesalers and
operators. OF ~ Broadway. charged that
the United States Senators were talking
politics and publicity"
with all due respect to Senator Call
DER said Mr.. Dexter, che Is attempting
to give advice on o subject of which he
has little or no knowledge. One might
wal
housing situation. Mr.. Calder soems
willing to throw brick wherever 1t will
create a breach. He Is not correctly in
formed. The liberalization OF the In
dustry or the appointment of fuel die
tatorship at this time would be a calam-
ity. Far greater and better results viii
come from permitting the operators to
reform their own business.
"The best illustration of their ability
to do so Is found in the fact recently
printed by THE NEW YORK HERALD that
coal has dropped about IS a ton in price
at the mine since the operators began
cleaning house and forcing from the field
the 'snowbirds' and the proflteering fly
by-night' concerns. There will be no
need for Federal interference"
c. r. Ellcott of A. Mcneil & Sons
Company, wholesalers and operators.
with offices in the Grand Central Palace,
said:
"softenfng VIII Continue"
1.-THE bituminous coal situation has
eased considerably during the last week,
reductions as great as So ton below
previous prices having been noted. This
softenipg OF the market will continue,
and long before the reconvening OF Con-
gress any need there may seem to have
been for liberalization of the mines will
have disappeared. Indeed, I believe that
by December 10 soft coal will be a drug
on the hands of the operators.
FOLLOWING the national meeting IN
Cleveland, the operators, "a THE NEW
YORK HERALD has stated. began a house
cleaning process. The present decline
in prices is direct result. and. IL they
are granted a reasonable period OF time
the operators themselves will drive out
every undesirable coal man from the
business. The producing districts have
been overrun by fly-by-night' concerns
attracted by big prices, but with declin-
ing rates they are disappearing like the
melting SHOWS In spring time. Assured
that the producers now are doing every
thing possible, the big consumers have
withdrawn their frantically bidding buy
ers from the mining districts and the
profiteer finds he cannot sell his coal
He. therefore, before long, win throw his
product on the market for whatever price
he can get.
THE car supply Is increasing. New
York soon will have a full quota Of BIZ
luminous coal. With the easing of the
soft coal situation many manufacturers
will revert TO its us and anthracite
steam coal which they otherwise would
be consuming. Will be thrown into the
market for domestic use. The problem
will solve Itself. With every honest coal
man working to Improve conditions Fed
eral and state committees and municipal
investigators will servo little purpose
apart from alarming the public and re-
establishing panicky state Of mind"
Other wholesalers insisted there Is now
surviving here littlo OF no profiteering.
The adoption OF resolutions restricting
re5ales and subsequent pyramiding of
pricss and limiting profit percentages In
accordance with the Views OF the De-
partment of Justice. they said. had
driven the profiteering coal ring out OF
New York. Some local wholesalers In
slst they are now taking smaller profits
than were permitted them under the
Fuel Administration.