Evening Republican, Volume 23, Number 274, Rensselaer, Jasper County, 16 November 1920 — Home Consumption Abnormal. [ARTICLE]

Home Consumption Abnormal.

•‘lt would be an error to assume that fundamentally the high prices paid for spot coal are to be ascribed mainly to the large exports,” says the report. “There also has been an abnormal domestic situation. The foreign de man intensified the abnormal domestic demand aild the several factors together afforded an opportunity for the exacting of prices not justified by the cost of production.” During the first nine months of 1920 the commission’s table shows that a total of 30.273,379 tons of coal left the country, of which 23,560.013 tons was export coal and 6,713,366 tons was for foreign bunkers. “With an estimated production of 357,142,857 tons for Che first nine months of 1920, the export and foreign and bunkers coal trade for the nine months was 8.5 per cent of the estimated total production,” the cominissibr declares. “Inparticular situations the foreign demand plays a much more important part than is indicated^ by the comparison of total production and export for the United States as a whole.” Roads Were Hard Hit. During the period covered the commission showed that the export and bunker coal passing through New York. Philadelphia, Baltimore, Hampton roadie and Charleston amounted to more than one-half of the shipments to those ports. Railroads serving those ports, the commission asserts, >vere forced to buy spot coal at the exorbitant prices quoted at those ports and were directly affected by the upbiddlng of prices by foreign buyers. In July, 1920, the average price per net ion of coal at the mine was $3.25 for contract coal, compared with $2.47 per net ton hi July. 1919, the commission said, while spot coal in July was $6.01 iter net ton at the mine, against $2.38 in July a year ago. *