Opinion ID: 305731
Heading Depth: 1
Heading Rank: 5

Heading: peabody coal company

Text: 19 As previously stated, Peabody was one of the two leading producers of coal in the United States. In 1966 it was shown to have produced approximately 52.8 million tons of coal, or approximately 10 percent of the total produced domestically. In addition, it sold 8.3 million tons of coal produced by others. In 1967 its total production was 59.4 million tons, considerably more than the next leading producer, Consolidation Coal Company. Its reserves were over five billion tons. 20 It had coal reserves in states in the southwest, west, midwest and east-central regions of the United States. It was shown to have been aggressively expanding its marketing areas with long-term contracts, mostly to utility companies. The examiner further found: 21 During 1966, Peabody and its subsidiaries had coal sales and other revenues of $233,923,483 that provided a net income of $26,279,973. Total consolidated assets of Peabody as of December 31, 1966, were $315,629,163. Peabody's rate of return on stockholders' investment during 1966 was 14.6 percent. Among United States industrial corporations listed in Fortune's 500 for 1966, Peabody ranked 186th in terms of assets and 317th in terms of sales. 22 At all times relevant to this proceeding, Peabody has sold and has shipped its products in interstate commerce and has been engaged in commerce within the meaning of the Clayton Act. 23 In addition to its domestic operations, Peabody owned 58 percent of an Australian company that operated a large metallurgical (coking) coal mine in Australia. Most of its output was sold to the Japanese steel industry. 3