coal trade bulletin - Clpdigital.org

38 THE COAL TRADE BULLETIN.
the output of each mine, would be illegal and
would subject them to jail sentences. He gave
his opinion that the four mines could be merged
into one company without violating the law", but
none of the mines wished to do this. The mines
owned by the large companies were covered by
bond issues. The rich mine owner was able but
not willing to sell. The poor mine owner acted
as his own manager and could not afford to give up
his salary. The four mines are still competing.
No doubt the users of coal
RECEIVE THE BENEFIT
from this competition while it lasts, but it cannot
last long. The companies are able to operate one
mine at a loss during this enforced commercial
war; the rich mine owner is suffering and the poor
mine owner is being ground out of existence.
When this takes place, the survivors will have a
legal monopoly of the market and will hope to recoup
their losses by raising the price of coal.
The example given above raises one of the fundamental
problems of the "trust question." Does
the public welfare demand that individuals shall
be destroyed and monopoly created in the name
of competition? Or is it better under such circumstances
as are outlined, that the Trade commission
shall be allowed to say whether or not
an agreement such as the above mine owners attempted
to make, is in restraint of trade, or
whether or not it seems to be in the interest of
justice and the public welfare.
Do you wonder that the bituminous coal operators
of the United States are seeking relief from
conditions such as 1 have described? We are not
seeking a monopoly ancl by reason of the vast area
of the coal deposits could not secure a monopoly
if we would. But we do ask the right to make
such agreements among ourselves, under regulations
that will save to future generations the coal
measures of the United States and at the same
time permit us to earn for ourselves a reasonable
return on the capital invested. We are advised
we cannot make such agreements as the law
stands. More than 40 years before the passage
of the Sherman law the English parliament repealed
all laws against such trade agreements as
were not monopolistic or contrary to public policy.
But by the passage of the Sherman act in 1890,
we went back at one step to days of the stage
coach and ox-cart as far as man-made laws are concerned,
although of course, the
ECONOMIC: SITUATION
has not changed. Of all the commercial nations
of the world, in the United States alone does this
anomalous situation exist. In Germany and
France the people encourage the syndicates which
control the mining and sale of toal and fhe
manufacture and sale of other commodities.
Your organization, through its committees, has
made a study of the workings of the so-called
"Sherman anti-trust law." Similar committees
of the American Mining congress have made a
study of the law with the result that they have
prepared a bill which is, in effect, a modification
of the Sherman law. We believe that the bill in
question is based upon sound principles and not
only is not inimical to the interests of the American
public, but that those interests will be best
served through the enactment of some such legislation
as this bill provides.
Briefly, the bill calls for an Interstate Trade
commission, having powers and duties similar to
those of the Interstate Commerce commission but
with jurisdiction over industrial corporations only.
This commission would have power to inquire into
all kinds of agreements, contracts, etc., and to determine
whether they are in violation of the Sherman
act and whether they unlaw-fully restrict
trade or tend to monoply. Under this bill, any
corporation or individual, may submit to the com
mission, for its approval, any agreement it desires
to make and the commission's approval of this
agreement is to be final and conclusive, as to all
questions of fact and also conclusive that such
agreement is not in violation of the Sherman act
and an unlawful restrain of trade.
Without going into further detail, the Interstate
Trade commission bill of the American Mining
congress is designed to permit business men tc
conduct their business in accordance with economic
principles and yet live within the law. Is
it too much to ask of the American public, as represented
by their law- makers, that the business
world be granted this right?
RECENT COAL TRADE PATENTS.
The following recently granted patents of interest
to the coal trade, are reported expressly
for THE COAL TUADE BULLETIN, by Nesbit & Doolittle,
Patent Attorneys. Park building, Pittsburgh,
Pa., from whom printed copies may be procured
for 15 cents each:
Coal drill, C. L. Anton, Monongahela, Pa.; 1,-
082,617.
Mine locomotive, XV. F. Eckert and W. C. Whitcomb,
Rochelle, 111.; 1,082,740.
Coke conveying and screening mechanism, T. J.
Mitchell, Uniontown, Pa.; 1,082,757.
Hanger for miners' lamps. L. K. Terry, Cooks.
N. Mex.; 1,082,779.
Apparatus for automatically loading coal bins
J. W. Wortham, Decatur, Ala.; 1,083,042,
Acetylene miner's lamp, F. E. Baldwin, New
York; 1,083,427.
Oiling device for mine cars, F. F. Grayham, Big
Stone Gap, Va.; 1,083,532.