COAL VEND CASE.

Dominion, Volume 4, Issue 1176, 11 July 1911, Page 5

COAL VEND CASE.

MINEOWNERS' DEFENCE. COUNSEL CONTENDS THAT VEND IS NEEDED. PROFITS- NOT EXCESSIVE. Bj Telesraph—Press Association—OoDyriehl (Roc. July 10, 9.10 p.m.) Sydney, July 10. The case against the Coal Vend under the Anti-Trust Act' lias been resumed. Mr. luiox, senior counsel for defendant colliery proprietors, opened his address. He argued that it was impossible to monopolise jN'cwcastlo coal, as, except for gas-making, it had been shown by the evidence that' other coals were as good. Where action was taken to preserve a trade, with the intention of ensuring a fair and proper remuneration to all engaged therein, it was not an offence against' the Act. After dealing with figures showing that the profit to the owners was only a shilling a ton, Mr. Knox submitted that no Court should interfere with tho conduct of an industry by people who understood it. He contended that a combination of colliery proprietors was necessary in the interests of tho mines, and also in the interests of the shipping industry, and maintained that if the Newcastle colliery owners lowered the price of coal every cempetitor in Australia would be crushed out of existence. There had been no evidence to show what the profits were. Even if there had, how was tho Court going to say whether they wero excessive? There was no detriment' arising from the increased pneo unless it was raised out of all proportion to the intrinsic value of the coal.