The labor world., 1922-04-08
BY SAMUEL GOMPERS

~~A SAAA"A OAIAA oOANAA Cx1<o
Both bituminous and anthracite
mining operations are controlled by
financial interests which are respo1i-
sible for the autocratic attitude now
being manifested by the mine man
agement and the policy Of forcing a
coal strike in their attempt to des-
troy the unions: ,'.iI
All economic, national and human
interests must give way to profits
under the domination Of purely fl
nancial interests.
Before we can hope for a sound
solution of the problems in the coal
mining industry the control must be
taken out Of the hands Of these
financial interests. What. now sis
happening in the mining industry
happened a decade ago in the rail-
road industry. The chaos in each4is
traceable to the same source.
The facts of this financial domina-
tion were presented to the House sof
Representatives. in February, 1921.
At that time it was proved that the
following companies in the bitumi-
nous field were controlled by purely
financial interests: =
Norfolk & Western r. r. Co.
Western Maryland r. r. CO.
.Berwino-White Coal Mining.
Penn. Coal & Coke Corporation.
Maryland Coal Co. of West Vir-
ginia. = :ez
Pittsburgh Coal Go. :
Rocky Mt. Fuel Co.
Chesapeake &, Ohio. . ]
virginia Ry:,
" The financial statement of the
first Of these, the Norfolk & Wes-
tern, was made public this week, for
the year ending December 81, 1921.
Its not income was $10,043,181,
equivalent after preferred dividends
of $3.50 g. share. : :
: The Pocahontas Coal & Coke Co.
is the principal subsidiary controlled
by the Norfolk & Western. The pro-
fits Of the operation Of this company
were used for the purpose Of retir-
ing more than $4,000,000 worth of
bonds. The high freight rates charg-
ed for the transportation of this coal
over the lines of the Norfolk &
Western, are responsible for the pro-
fits to the railroad company and for
the high prices charged the, con-
sumers. y gr :, 4 :
Similar conditions exist in all other
combinations of coal and railroad in
u. s.. Steel Example in Bituminous
~@ ~. Field ..-.. III
United States Steel Corporation,
operated purely for financial returns
ON q policy dictated by financial ex-
pediency, or what seems to be ex-
pediency, controls vast bituminous
coal interests. Steel interests In
Alabama control vast bituminous
coal properties in that state. Coal
mines operated by such concerns are
operated as wheels in a great profit
making machine and it is impossible
for practical coal management to
have any effective voice in the maxi
ing Of policies.
The hearings before the Commit
tee on Manufactures OF the U. s.
Senate in 1921. on the question OF
the publication OF the production
and profits in coal revealed that
seven railroads control SO per cent
Of the output of anthracite coal in
the y. s., 80 per cent OF this is by
ownership and s. per cent by con-
tract. These railroads are: Reading
Co.: Delaware, Lackawanna & West.
ern r. R.; Lehigh Valley r. r.; Erie
interests; Delaware q Hudson Co.:
Pennsylvania r. r.: New York. on-
*tario g Western r, Ri; and Lehigh
Coal g Navigation Co. s.s
S' IN this manner the tinancia n
sterests ot Wall Street eamolflays
~ cirs oWnsrs sotk ~ CO.. indulfryI,
& !!