BRITISH COAL PRICES

Evening Post, Volume XCVIII, Issue 130, 29 November 1919, Page 7

BRITISH COAL PRICES

ASTONISHMENT IN ENGLAND

WHAT THE PROPOSED REDUCTION MEANS.

(UNITED PRESS ASSOCIATION.—COP-RIGHT.) (AUSTRALIAN - NEW ZEALAND CABLE ASSOCIATION.) LONDON, 26th November. 'Sir Auckland Geddes's dramatic announcement in reference to the coal astonished the House of Commons, the trade, and the public alike. It is interpreted as the first step in a general Government attack on high prices. No one expected a ten-shilling fall, especially as the Government is already subsidising household coal to the extent of 3s 4d per ton. The reduction represents fifteen millions sterling, as household coal is approximately thirty million tons out of 185 million, the tctal inland consumption.

. Sir Auckland Geddes in July estimated that his Department received 35s per ton for exported coal, but the price in October was 62s Bd. It is still doubtful whether the necessity of raising tho railway rates may necessitate again raising the prico of coal.

(Sir Auckland Geddes, President of the Board of Trade, stated that the Government had reviewed the entire position regarding coal prices. There were unexpectedly high profits from export and launkei- coal, but coal for inland con--umption was being sold at less than cost price. It had become necessary to modify the existing control by limiting the exportable quantity, and limiting owners' profits, and especially by limiting the price of household coal, which will be reduced by 10s next week.]