Evening star., 1922-05-18
COAL PRICE CURB
DECIDED DURING
PERIOD Of STRIKE
Secretary Hoover Obtains
Cooperation of Men in
Distributing Plan.
COMMITTEE TO RUN
POOLS IN DISTRICTS
Clearing of All Orders to Be Means
of Shutting Out Specu-
lators.

Secretary of Commerce Hoover
asked and obtained today the ap-
proval of the leading operators Of
non-union bituminous coal fields for
a government plan of getting the
coal industry by voluntary action to
put stop point on increase of coal
prices" during the period of the ex-
listing coal strike
The plan, which was approved by
about forty operators who met with
Mr.. Hoover. calls for the creation Of
a committee of operators with gov
ernment and Consumers representa-
tives in each district where coal is
being produced, through which all
orders for coal will be cleared A
similar general committee will be set
up in Washington, and Mr.. Hoover
had Attorney General Daughertys
opinion that such cooperative ac-
tion to reduce and hold down prices
in the public interest" would be legal
Representation Large.
Practically all of the representa-
tives of larger producing companies
not affected by the strike in the ter
ritory east of the Mississippi were
present when Mr. Hoover. saying that
the operators had been called in for
conference at the direction of Presi-
dent Harding, announced his plans.
Most of the coal men called upon by
secretary Hoover to express their in
d1vldual views on the general pro-
proval. said that the production sit
uation did not justify any great in
creases in coal prices. as ample sup
plies of coal existed They also
agreed with Mr.. Hoover that
method of bringing the consumers in
touch with the supply would prevent
speculation and a buyers panic, which
might cause runaway coal market
If the strike continued In the union
helds for many weeks longer.
Distribution Considered.
I'VE are here to consider only the
problem of distribution and price in
COAL" Mr.. Hoover said after calling
the meeting to order. land will not
discuss the wage or the strike oues-
ton. What we do wish to consider
are such measures as may be done in
purely voluntary and cooperative
way by the men in the industry with
the assistance of the government to
prevent profteering and speculation
in coal. There is no law or govern
mental requirement that could be en-
forced at this juncture, but 1 have
confidence that the operators of mines
still in position Will cooperate to
that end.
The situation is that in minor dis
tricts. due to bad distribution and
competitive bidding by buyers. prices
have advanced strongly. while in
other districts there are still insuff1-
cient orders reaching the operators
to keep their mines busy and to keep
them opening new production. Nat
urally the whole distributing machin-
cry in coal is upset by the strike, but
it does seem possible to get voluntary
action in the industry to put a stop
point on the advance of prices. and 1
have a rough plan to submit to you
for discussion"
Pooling Plan Described.
Mr.. Hoover then described the COM
mittee clearing house proposal for
pooling orders, and directing buyers
to producers. He suggested that the
price level of 1917. set under war
time fuel administration, with minor
adjustment to meet changes in wage
scales. would serve as the top limit of
prices for the committees.
He also suggested that a repre-
sentative of the railways should sit
On the committee to direct the pur-
chase of their coal supplies and
representative of public utility COM
panies for the same purpose.
j. G. Bradley, president of the West
Virginia Coal Operators Association,
that state being the chief present
source of the coal supply, promptly
pledged himself to cooperate to the
fullest extent" with the governments
proposal.
Il want to congratulate you on the
foresight shown in taking up this
question in advance of probable
need" Mr.. Bradley said.