The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-05
SOFT COAL TO GO
BELOW $5 SOON
Col. WentZ, Head Of National
Association, Says Mine Prices
Weaken Daily.
LAKE PRIORITY is OFF
Calder Committee Leaves Mon
day to Continue Fuel and
Housing Inquiries.
LAKE PRIORITY is OFF

Col d. b. Wentx. president VI the
National Coal Association. which COM
prises in Its membership the largest
mine operators IN bituminous coal In
America, confirmed yesterday the ac-
curacy oi TEE NEW York HERALos ex-
elusive report of the slump In soft
coal prices at the mine. Col. Wentz
was the only witness examined at the
brief session Of Senator William M.
Calder's Senate Committee on Recon
struction and Production, which was
held in the Engineering Building, in
West Thirty ninth street
Questioned by Senator Calder. Col.
Wentz said that lake coal had dropped
to s5.25 a ton ut the mine and that
contract coal was quoted at from $a.75
to SIS q ton Spot prices for what Is
known as ''gns coal" which is a moro
expensive quality than steem-makins
bituminous. he added. are now 81 a
ton at the mire, while the various
gredes Of stesin-Inaking soft coal range
from 81 to 50 ton less.
The Coioners evidence was complete
confirmation OF the statement made IN
these colunna yesterday. which was that
prices now are quoted at the mines at
grade and quality"
When tho witness was questioned con-
cerning the outlook for the future he
expressed the belief "that spot prices
viii be below the contract price within
the next thirty days." III view OF the
opinion heretofore stated by big whole
saiers that the price Was not likely to 60
below IS a ION. this prediction. coming
from the head OF the most important
association OF soft coal PRODUCERS, caused
seFay,siev e surprise Col. we.its sa.s
clos iis NJ opio.cn >. b spot A.. co.s-
tract prices. as they stand q. present.
"are fair and reasonable"
Export Coal Brings $3.50.
The president OF the coal producers
organization further testified that ex-
port coal for shipment 10 Europe is
beng sold on twelve months contract for
$3.50 ton. When Senator Calder asked
him why that p-ice should not prevail
throughout the country tho witness re-
piled that a comparatively small per-
centase OF tho bi.uminous coal mined
goes to Europe.
In spite of the fact that many ietfors
have been received by the Calder corn
mittee complaining OF the alleged In
efficiency OF the special service priority
orders issued by the Interstate Com
merce Commission. ard since discontin-
uei Col. Wents thought the ardcrs.
while they remained in effect. vera prac-
tical In their results and relieved the
situation materially.
Early in the present year, the witness
said. production Of coft coal did not
meet the oountry's demands. and that
condition brought about unsettled prices
In certain localities the shortage be-
came acute. II was met In the only
feasible way. n fuel administrator
had been appointed at that time no would
have faced an appalling situation. But
the priority order favoring New Eng
land. for instance. has resulted now In
such a great supply IN that section that
shipments on their contracts.
Col. wentz asserted that there is now
no shortage OF bitumincus coal in the
United States. The production for Oc-
tober was about equal to that OF the cor
responding month of 1918. when record
output was attained under the spur OF
war conditions.
Senator Calder's committee will leave
this city next Monday and within the
next three weeks will hold hearings ir
many OF the large citiee OF the country
regarding housing and coal shortages.
steam Coal Isn't Gas Coal.
Writing 70 THE NEW yoRK HERALD
concerning its report OF the coal situa-
tion yesterday. an officer OF the Ccnsoll-
dated Gas Company said:
'-rhe reduction In price OF bitumnous
steam coal 70 1915 ton at the mino
should not be confused with bitumnous
gas coal such as Is used by all the gas
companies In this territory. The soft
coal referred 60 at 1915 a ton IL a poor
grade OF steam coal. The price. 1915.
Ia for short ton Of 1000 pounds. while
Nht Idt' pct eVh idiu W the haS cOln-
panIes is for long ton OF 2.240 pounds.
The quoted price IN Pittsburg to-day for
bituminous gas coal is 81 "a ton. which.
with freight Insurance. war tax and har-
Dor llghte.age added. amounts 20 si2s5E
per ton against the si1.s2 per ton which
is being paid for this coal by the gas
companles.'
In further corroborat,on Of yes,er-
days news report tho Coal Age OF this
city will say In Its issue of to-day:
Whether big production and ample
supply OF the fair price movement start.
Cd By Attorney General Palmer. or both.
are respor sibie prices are rapidly get
ting back 20 4 steady base.
THE lifting OF the lakes priority order
will result In coal being available In
sufficient quantity for immediate needs
at practically every point In the middle
West and the north Atlantic states. as
1: is estimated that fully 1000 cas-
daily have been released by the raising