Arizona republican., 1922-06-10
SECRETARY HOOVER
SAYS COAL BUYING
PUBLIC PROTECTED

WASHINGTON, June 9.-Agitation
breaking out on the floor of the SEN
ate over the administrations effort
to keep bituminous coal prices from
climbing during the strike was met
last night by Secretary Hoover with
statement asserting that "the essen
tai thing about coal prices is that
the runaway market has been
stopped
Except for small percentage of
the present producers who have re-
FUSED to cooperate he continued,
prices have receded from the level
reached on May 15, and the public
mas been protected from a repetition
OF 1920 conditions.
Precipitated by Senator Walsh,
democrat. Massachusetts who de-
clared that the public patience was
being exhausted by coal operators
taxing adyantake of agreements
reached with Hoover to boost their
prices to the retailers, discussion of
The fuel situation became general in
the senate today. Senators suggested,
and opposed practicability of govern
ment control of the mines as a solu-
tion of the conditions.
Extortion is going on with appar-
ent government approval Senator
Walsh declared explaining, however,
that he did not wish to criticise Mr..
Hoover The latter howeved, he de-
clared, had been fooled by the oper-
ators into approving maximum fair
price of $3.50 a ton for coal at the
mines.
Some of the senators have been
misinformed, Mr.. Hoover said, "by
misleading statements from a small
group of retail dealers. who object
strenuously to any attempt to re-
strain prices
Mr.. Hoover declared that the re-
tailers had addressed the same fig
ures to him as they had to the SEN
ators in describing the present coal
situation and made public his reply
to Homer d. Jones, Chicago, presi-
dent of the National Retail Coal Mer-
chants association. in which he took
issue with the retailers position that
an advance of $3.50 ton for coal
to the householder was warranted
as result of the recent negotiations
with operators Assuming from the
associations statement that it was
opposed any governmental policy
controlling the production or distri-
button of coal Hoover expressed the
belief that the association does not
with to cooperate in the prevention
of profiteering in this time of emer
gency" and that such a change of
view after recent promises of CO.
operation did not represent the vast
majority of retail coal dealers OF the
country who are making every effort
he said. to supply their customers
without unusual profits
"Tha retail coal dealers" Mr..
Hoover declared. could play fine
part in this emergency IL they
would follow his suggestions that all
coal be sold at cost plus a reason
able handling charge.
"By such cooperation" he said Il
feel sure we can save the public
from runaway prices such as we wit
messed in 1920; thus saving to them
several dollars per ton-of more in
terest than questions of 25 or so
cents"
Mr.. Hoover contended that there
had been no price fixed for coal but
that the operators were requested to
carry out his proposal that Garfield
prices for run of mine coal should
be the basis for computing sales
prices, with such adjustments as are
necessary to include the wholesale
selling costs. changed conditions at
the mines and other factors that will
be fair to the public and to the oper-
ators and will maintain production of
coal"
ANY agreement to adhere to this"
he added, .''is a moral agreement be-
tween each operator and myself"
Wholesalers, Mr.. Hoover an
nounced today. have arranged among
themselves to continue doing busi
ness on a pre- strike basis.