Perth Amboy evening news., 1921-12-23
COAL ATTACK MADE IN
SENATE BY FRELINGHUYSEN
Continued from page u

fact. on what is the present cost of
producing coal. But the buyer can't
find out. l can't find out, you can't
| find out, the government can't find
u
II am old that there has been a
great reduction in Goa consumption
resulting from business depression.
But no one can say how much of a
reduction. No one can do more
than guess whether consumption
has been greater or less than pro-
duction. Nobody in the land can
say how much coal we are burning
currently. Nobody knows how much
we have in storage. Nobody knows,
therefore, whether We are heading
for n shortage or not. I say that for
a government of 10, 900. 900 people
not to ascertain these simple facts
at a time when there are signs of a
coal famine is criminally negligent.
These are the elements in the
situation that rouse my apprehen-
sion. L am not predicting a shortage.
| do not know. /, too, am blindfold-
ed. But 1 am not muzzled. And 1
would be derelict in my duty TO fail
to call the probabilities to your at
tention.
Il do not wish to be unjust to the
coal men. / know what the expIana-
tons r hat they offer for these
advances in the price OF anthracite.
The high cost of materials, a dull
market for steam sizes, an increase
in wages last summer, the increase
in freight rates, these oft-repeated
explanations are familiar to every
member of this body. The point I
am making is that the public has no
means of testing the truth of the ex-
plantations. Perhaps it is the truth.
Perhaps it is not. All that the pub
lie and government knows is only
the eight railroad coal companies
want them to know.
We may recall that il increased
freight rates are an element in the
increased price, that increase has
gone largely into the pockets of the
anthracite coal carrying roads which
own the mines, and that these roads
were already among the most pros
porous in the country.
we do know that the Philadel-
phia & Reading Coal and Iron Com
pany made profits of S6,672.00O in
1920 as against $2.464, 600 in 1916,
an increase of 40 per cent. We
know hat the Lehigh q Wilkes
Barre Coal Company. having for the
last ten years or more paid IS per
cent. regularly. on March 5, 1921,
paid a cash dividend of $50 per
cent: hat the Lehigh Valley Coal
Sales Company paid 10 per cent.
each year from 1913 to 1916. In
addition, the Lehigh Valley Coal
Company issued a stock allotment
of % per cent in 1914. In 1917 it
paid a dividend of 13 per cent. and
an extra dividend of 10 pei cent. in
Liberty bonds. In 1919 il paid 16
percent and an extra dividend of 5
per cent in Liberty bonds. In 1920
it paid Is per cent.
The Delaware, Lackawanna and
Western Coal Company paid 10 per
cent annually from it's Inauguration
in 1909 until 1912. In 1913 IL paid
80 per cent. and in 1914, 80 per cent
In 1915 it paid go per cent. In 1916
il paid 20 per cent. In 1917 it paid
100 per cent, 60 per rent in cash and
40 per cent. in Liberty bonds and
notes of Great Britain. In 1913 1t
paid 40 per cent, the 80 per cent.
extra being in cash and a stock divi-
dend of rs per cent
The coal lobby has tied the gov
ernment's hands and poked out its
eyes. But they have not stopped the
questioning of the people. Neither
can the senate stop it by ignoring the
subject at this time.
II say to you hat the question
of whether a gigantic combine is de-
manding extortionate prices for a
necessity Of life is one that no demo-
cratic government can ignore and
live. VIII you turn IN the light2
or will you go back to your people
and when they ask Why 'Why?'
refer them once more TO the coal
OPERATOR"