The labor world. [volume] (Duluth, Minn.) 1896-current, 1920-06-05

Increased Seven Fold.
This company" Mr.. Lauck's report
said, showed average annual earn
ings for the years 1912-1S-14 of ap-
proximately 100000. In 1913, it
made a clear profit of 100000,
while in 1917 the net income was
$14,076,S52, or seven times the aver
age for the anti-bellum period. Aver
age earnings of 9.8 cents per ton in
pre-war years rose in 1916 to II cents
per ton and in 1917 to 76.5 cents per
ton, and in 1913 the figure was still
as high as ~ cents per ton, or more
than four times the pre-war profit.
It is interesting to note that this COM
pany actually produced less coal dur
ing the period 1916-17-18 than dur
ing the three pre-war years, 1912-13-
Ia. The total tonnage for the pre-
war period was 61,366,472 tons, on
which it made net profits Of 1922
$40. During the three war years it
mined only 54,262,0oS tons and made
total profit Of $24,3SS,163."
Further evidence of the enormous
| earnings of bituminous coal operators
| was adduced by Mr.. Lauck in cita-
tions from the tax return reports of
the treasury department.
Earned Over Is Per Cent.
"These figures he declared. "show
that at least 1872 coal operators
throughout the United States earned
| profits in excess of IS per cent in
1917, their maximum earnings on ca
pital stock ranging in 10 instances as
high as 1000 per cent. Moreover,
1874 of these companies, or over IS
per cent of the whole. showed earn
ings, after deduction Of taxes, of over
rs per cent. And 218, or over IS per
cent, showed earnings Of moro than
so per cent on capital stock, while
118, or more than 80 per cent, showed
earnings of more than 100 per cent"
Continuing his survey, Mr.. Lauck
presented evidence to show that the
coal operators did not stop profiteer-
ing with the signing Of the armistice.
Pittsburgh's Profits Big.
up to the present time," he as
serted, "six large and representative
coal corporations, including the Pitts
burgh Coal company, have made pub
dc their financial reports for 1919. In
that year they produced over 31,000,-
900 tons Of coal. On this amount of
fuel they realized net profit Of
$12,577,S54, or 40.2 cents per ton.
When it is considered that these same
six companies in each Of the pre-war
years actually produced much
greater amount of coal and made an
average annual profit of only $685.
279, the extent to which they profit
eered in 1919 is realized. The Pitts
burgh Coal company, for instance,
had an average production for the
three pre-war years of 20,455. 491
tons on which it made an average
annual profit Of $2,040,703. In 1919
this company made twice as much
money-$4,55 ,716-on about two
thirds as much coal, or 13,s52,741
TONS"
Tho present situation illustrates
very forcibly the manner in which
the coal operators have continually
exploited the public Mr.. Lauck con-
Guided.
1.-THE recent wage increase Of 81
per cent granted the miners adds
something less than 40 cents to the
cost Of producing ton Of coal, &C
cording to the best authorities. Since
April first, when these new rates be-
came effective, prices Of coal have
been advanced from IS cents to two
dollars ton. In other words, the
coal companies and middlemen will
not only reimburse themselves for the
higher wages paid, but are using this
as an excuse to make still greater
profits.