The Bridgeport times and evening farmer. (Bridgeport, Conn.) 1918-1924, 1920-08-30
EFFECTS REDUCTION IN
BITuMIN0US COAL COST
Prices Take Tumble Through Efforts of Attorney Cen
eral Palmer-Worked Hard to Gain Results

To the. sknl with which Attorney
Gene Palmer has handled difficult
Situation is attributed the fact that
CONSUMERS Of eitamineus eeai are now
able to Buy that commodity a. a price
showing a sharp decline from the
peak prices which prevailed at The
time the Attorney General first ae=
tiveis teek charge OF the situation.
several weeks ago the Wholesale
Coal Trade Association efsNew York
called conference OF consumers,
preaueefs and Wholesalers of coal, at
which the Attorney General was rep
resetrted by Judge Afnes, and the
eutsfewth of which was. the appoint
ment by the Attorney General of
committee TO consider the subject
with a view to aiiayfng the anxiety of
thep purchasers of bitur1ineus coal and
at the came time to curb those who
had been induced to invade t'l1 bftu-
nr4feus coal trade and to take ad-
vantage OF the shortage in The
market and the epaniciSy state4fof buy
ere 10 reap. undue and unlawful Pc
eaaiafy gains.
f4aas the matter was one of great
! Importance end interest TO the public
was demonstrated by the fact that the
! Attorney General In person gave
much OF his time to conferences on
the subject, eliminating in a meeting
h. &sew York the latter part of July,
at thich-a luncheon conference was
extended throughout the afternoon
and into 1thn.eaeiy evening.
Tea Attorney General discovered,
however. that in order to complete
his program for the control of the
situation II was necessary to bring
into the conferences Representatives OF
s a branch OF the industry other than
tho wholesalers who had fatfaered the
move. Atterapts to induce that
branch of tNe industry to Cooperate
with the Department Of Justice did
F.; not meet with the measure OF success
whoaeyaie branch of the industry felt
euenSiy for theetime being there was
q Interruption to the effort which
had been started IN this city.
However, the members of the
wholesale branch. of theis industry felt
that exerting themselves to allay the
feeling OF unrest amongst the con-
sumcrs and obviating the bidding up
OF the price OF coal at the mines
would have the effect of bringing
about a sharp decline In the price
which would be followed by more
gradual downward steps until more
nearly normal condition had been
reached. Carrying out this plan, the
result is seen in the present decline In
the price Of bitun1inous coal due to
this effort, coupled with the increase
IL, production in the last one or two
weeks.
To give additional effect to the
movement and further to cooperate
with and sustain the efforts OF the At
torney General to benefit the con-
b Incl Hon in mr.
wholesalers have felt that additional
steps should be taken within the
trade. The first OF these has been the
presentation to the Attorney General
of the necessity for advising certain
element which has invaded the coal
trade that the practice of resale OF
coal would not be countenanced by
the Department O. Justice or the
/ trade itself and 20 give point to this
! the Attorney General has recently is
sued instructions to all United States
7 Attorneys to carefully scrrtinize
: transactions of this character with a
view to prosecutions under the Lever
| Law. This action on tho part of the
| Attorney General Is welcomed by all
( houses as it will give weight to their
/ efforts to eiiT1ina .te that objectionable
class of dealer from the situation
/ last Tuesday a conference of whole
salers, attended by Messrs- George M.
Dexter, of Dexter & Carpenter, Inc
John w. Whiteley, of Whitney *
Kennmerer; M B. Burns, of Burns
Bros, and Charles s. Allen, secretary
of the Wholesale Coal Trade Associa.-
ton of New York. Inc, representing
! the New York trade; Messrs- Harlow
C. Voorhees,, president of the Phila-
delphia Wholesale Coal Trade Asso-
: citation and Frank M Ramsey, a
member of the Board of Directors OF
the same association, representing
the Philadelphia wholesale trade, and
Ben jamin H Read of Baltimore.
representing the Maryland Wholesale
Coal Association and the Baltimore
trade Al member of the staff of the
Department of Justice was present al
this conference
The situation as it existed at thai
date was carefully gone over by this
committee and as a result it adopted
a program for meeting the situation
providing for the following:
First, that all members of the
wholesale coal trade shall be re-
duested and urged to sign a pledge
not to take part in the purchase OIL
sale of bituminoue coal where ths
same has passed through the hand:
of more imam one other wholesale
house, Gin this connection a sale:
agency of an operating company be
ing regarded as a whoieSaler)- Thu
action gives expression to the genera
disapproyal in the trade of resale and
pyramiding of profits and while it will
have material effect upon only {
small percentage OF transactions be
cause the substantial and reputable
house does not engage in resades be
yond the limit placed. and seldom t.
that extent, at the same time it viii
make it difficult, IL not impossible, 70
the element which has been engasin;
in this practice to DO business at all
Second, it was recommended to tn
members of the wholesale coal trad
that the gross maximum margin o
profit be 10 per cent on the invofc
price at the place of sale
Third the committee constitute
into a grievance committee and in
vttes the public and members of tn
trade to present to it facts concern
abuSaS sct will i1vesti