Northern Wisconsin advertiser. [volume] (Wabeno, Wis.) 1898-1925, 1922-06-09
WILL FIX PRICES
DURING STRIKE
Hoover Tells Operators He Will
Set Fair Coal Cost.
TO HALT RUNAWAY MARKET
Commerce Secretary informs the Coal
Men That Conference Was Called
at the Suggestion of Presi-
dent Harding.

washington, June l. - Secretary
Hoover assumed the responsibility
for fixing a reasonable price on spot
coal during the continuance OF the
present coal strike.
Opening the conference here OF
union and nonunion operators in the
producing fields, Mr. Hoover declared
that any agreement between the )p-
orators looking toward the fixing OF
the price of coal, even though in the
interest of the public, would be IL
legal, and therefore he asked the in
dividual operators to agree with him
upon a reasonable price for coal IN
their respective districts.
The commerce secretary suggested
the immediate appointment of COM
mittees representing each producing
district to advise with him upon fair
price for coal in their respective dis
tricts. He also asked that these COM
mittees should continue in existence
and report to him, after the determi-
nation of fair price, cases of unfair
prices in their districts and act at
his request as might be necessary to
meet such cases.
At Harding's Request.
Mr.. Hoover told the several hundred
operators assembled at the meeting
that the conference had been called
by him at the request of President
Harding to consult as to what means
might properly be taken to restrain
runaway coal prices due to the strike
Speaking of present conditions
throughout the country, he said that
production was now about 100000
tons week, and consumption between
100000 and 100000, thus neces-
stating Withdrawals from stock
amounting to. between 100000 and
100000 tons a week.
THE time has arrived" Mr.. Hoover
said, when the unwise virgins who
did not heed my recommendations for
stocking up with coal must go into the
market to get it,"
Mr.. Hoover recalled that the last
time there was a coal strike coal rose
as high as SIS a ton at the mine,
which, he declared, represented mil
lions Of dollars a week loss to the
public, while at the same time lend
ing color of proiteering to the op-
orator. This color, he asserted, was
against the will and the wish of the
operators, who considered it the most
disastrous thing that could happen to
them.
Coal prices throughout the country,
nr. Hoover continued, range from
about 1925 to $3.50 ton at the mine,
but what the public is interested in
is dollars and not cents, although
the margin of from 10 to 20 cents
ton on coal may be the margin be-
tween prof. and loss for the opera
tors. The public, Mr.. Hoover con-
tended, should understand that the
problem at hand is one of almost STU
pendous difficulty.
1T is easy" he said, ito denounce
profiteering. With some it is a favor
lite sport, but the vast majority of
operators do not wish to tolerate
profiteering in COAL"
There is not, Mr.. Hoover explained.
a single shred of law to enforce q
fair price or prevent profiteering, and
the law prohibits operators agreeing
as to what a fair price may be.
I'm times of emergency" Mr. Hoov-
er said, "some one must take the re-
sponsibilty. assume the leadership
and say what is fair. / will not ask
any agreement or combination to re-
strain trade or prices wrong in law.
Will Take Responsibility.
Il propose to inquire through you as
to the situation in various districts.
and | Will take the responsibility on
my own back and will ask every op-
orator to accept this basis in his own
district"
! The secretary announced the ap-
Ipointment of an advisory committee
to begin meetings at once with COM
mittees representing operators In the
various districts to inquire into the
price situation consisting of Mr.. Ogle.
Z. d. Bockus, New York; George Otis
Smith, director of the geological sur
vey; E. A. Holbrook, acting director
iot the bureau Of mines, and B. r.
Wadleigh. chief of the coal division,
of the Commerce department.
Alabama coal operators were the
first TO put into operation Mr.. Hoov.
Ier's plan.