The Price of Progress in the Coal Industry

IN the recent world-wide deflation of commodity prices the coal industry, including both anthracite and bituminous coal, had reached a level where the actual delivered market prices received by the operators were usually less than the cost of production. Many steel companies and public utilities, operating their own "captive" mines, could have bought coal during the past three years for less money than the true cost of coal produced at their own properties. Competition within the coal industry itself was cruel to the point of profitless operation, and the competition of other forms of fuel was bearing heavily on the coal producers. They were thus forced into methods of production and utilization that they had hitherto ignored; there had been almost complete absence of any appreciation (by the bituminous operators especially) of the necessity of real research work in finding better methods of preparing coal for specific uses, and in finding new and profitable uses for different kinds and grades of coal.