Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-08-26
HAMPTON ROADS
COAL PROF|TEERS
TO Be ATTACKED
Federal Agents Will Make
Investigation of Alleged
EXtortionate Prices.
BELIEVE FUEL FIGURES TO
FOLLOW SUGAR IN BIG DROP
Charge That Lever Act Has
Been "Flagrantly Violated"
on Atlantic Coast.
tny .Nssncla,ch pross.1


WASHINGTON, August 25.-Forc-
cast OF a tumble in coal prices was
made by Department of Justice oni-
Gals today, coincident with the an
nouncement OF renewed activity" in
the campaign against coal prontecrs.
With production on the increase. pre-
dlction was made that the coal mar
kct would follow sugar prices In a
break in the near future.
Prices already have dropped at
Baitimtrc. where the Federal agents
started yesterday to gather evidence
against an alleged combination OF
dealers who were declared to have
boosted prices through repeated re-
sales: y similar attack on profiteers
has been ordered at Hampton Roads,
ono of the largest bunkcring stations
on the Eastern Seaboard. Complaints
have come frequently from there and
from Baltimore, it was said.
fragrant Violations Reported.
Although interior points have re-
ported cxorbitant coal prices in mary
instances. il was stated that the
'naCrant violations OF the Lever
law were confined largely to the At
lantic Coast.
The Department will press its in
vestigations at all points, however.
as n part of the program outlined
Monday. when the Attorney-General
instructed all United States attorneys
to delve into the coal-price situation
more deeply on the basis of informa-
ton that pyramiding of prices had
been accomplished through inter
trade sales
Federal reserve board officials re-
ported indications also of an impend-
ing drop in the coal market. Their
information was that Transportation
conditions with respect to coal had
improved and better, distribution,
therefore. was being had This of
itself. in the opinion of the Depart
ment Of Justice officials. should aid
the price reduction movement. The
reserve board officials said the emp,y
binss made SO by the bituminous
miners strike and later by the rail-
road walkout and freight jam, were
again stocked. They did not believe
tho storage of this sort OF stock was
entirely up to normal. but. based on
recent reports. tho void was rapidly
being filed.
Temporary conditions have handi-
capped certain sections OF the country
with respect to their regular supply
with the result, according TO MIR.
Mitchell. that higher prices have been
asked. Federal attorneys at these
places. however. were said TO be IN
close touch with such situation, ana
were prepared to act when there was
evidence OF dealers having taken nd :
vantage of the shortage.
Huge Profits Charged
announcement OF the investigation
followed publication by the Federal
Trade Commission OF findings on an
Investigation showing that West Vir-
snia coal, costing s5.4O a ton de-
livered at Hampton Roads. was being
sold at prices ranging as high as SEQ
ton. Mr.. Mitchell said. however,
that he had not seen the commissions
report and that the departments an
nouncement was 4 second step in the
program indicated when instructions
were sent to all United States district
attorneys Monday ordering them 10
watch closely for enhanced prices as
result of pyramiding coal quota
tions through resalcs.
Department officials indicated
their intentions of asking the limit
OF the law as penalty where
conviction OF coal profteering Is OBJ
tanned They declared they expect
ca 10 uncover some fragrant viola