The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-11
tIce has a tendency to load the price 10

tice has a tendency to load the price 70
the consumer. therefore. be II
"ReSolUed, That this committee rec
onnends to the members of the whole
sale coal trade that they refrain from the
purchase or sale Of coal which has
passed through the hands of more than
one other wholesaler that is to say,
that in no instance will they be party
20 transaction i'm which more than two
houses intervene between the producer
and the consumer, and that in further
ance OF this sentiment In the trade. or
which this resolution is but an express
sion, il IS recommended that all members
Of the trade sign the attached pledge 10
comply with the letter and spirit OF this
resolution"
Many such pledges subsequently were
signed by members and they were made
binding until March 81. 1921. But the
resolutions adopted went further. One
Of them. with the exception of export
shipments. restricted members to a
max mum margin OF gross profit to be
taken by any wholesale house on any
spot transaction" TO 10 per cent. OF the
invoice price at the place Of sale--a
check urcn would-be proiiteers.
Another Of the adopted resolutions
created q standing committee on correc-
ton ana abuses in the trade, and invited
the public and all members of the
trade to present to 1t all facts and cir
cumstances surrounding such instances,
so that it may investigate the same and
apply the proper remedy in instances
where such action may prove necessary
or desirable" This committee was. in
point of fact. not unlike the well known
grievance committee of the Bar Associa-
ton. before which are summoned all
members charged with offences against
the ethics or policies of the association,
and which has power to recommend to
the main body the imposition of just
disciplinary or punitive measures.
Limit Profit to 10 Per Cent. NOW.
Naturally, the proceedings of such
grievance committee are confidential In
character. According to current reports
in the trade, however, the wholesale
coal mems committee on correction OF
abuses has been a very busy body o.
reformers since the early days of Sep
TENDER. Unless the organization is mis-
represented, the committee has found
plenty of abuses that fairly screamed
aloud for correction. That 1t Is now
sincerely anxious to cooperate with the
Department of Justice is not doubted. 1t
was to the sequence of events and the
consequent ItSoluliOuo iiONSu
for HERALD readers above that Charles
s. Allen. secretary of the Wholesale
Coal Trade Association. referred when,
in a statement given by him for pub
LEGATION yesterday, he said
'''The New York wholesaler cannot
profiteer. Through the Wholesale Coal
Association he is in direct cooperation
with the agents Of the Department of
Justice to expedite deliveries and keep
prices down. We have signed agree
ments binding us not to accept more
than 10 per cent. maximum gross profit
rate approved by the United States
Government to allow us fair return "
Mr. Aliens statement stands unchal-
lengcd He did not explain. however
that the millennial conditions sketched
by him are of quite recent consumma-
ton. nor that they were precipitated, al
least to some extent. by the correspond
ence with the Attorney General. which
the HERALD now makes public, and
which did not occur until last August
when soft coal conditions had become
so scandalous as to have become
stencil in the nostrils of the public.