THE COAL TRUST.

Timaru Herald, Volume XIC, Issue 13397, 21 September 1907, Page 5

THE COAL TRUST.

IN PARLIAMENT. THE ANTI-TRUST LAW. Press Aissociation-By(Telegraph-Copyright Received 11.41 p.m., September 20th. MELBOURNE, September 20. In connection with the Newcastle coal vend, a question was asked in the Federal House of Representatives whether there was any power in the' anti-trust law to prevent a monopoly of coal from materialising. Sir .W. J. Lyne in reply, said that it struck him that there was power to deal with what seemed like a monopoly in coal. He. would consult the AttorneyGeneral on the matter. THE NEWCASTLE VEND. OPINIONS OF TIMARU MERCHANTS. Mr J. L. Gillies, Timaru manager of the Westport Coal Company, states that the Coal Trust reported in yesterday's cable messages as existing in Newcastle was formed as far back as January last and was an arrangement to prevent the cutting of prices by individual mine-owners. -Although ha had no definite information about the methods of the combine lie thought it was worked on somewhat the sajne lines as the New Zealand Flourmillers Association, that is to say that orders were' distributed between the mines so as to keep them all going at the same rate. Newcastle coal at present cost lis per ton at the pits, and the freight to New Zealand was 10s, but there was a probability that freights would shortly bs advanced another Is per ton, and this rise on estimated import of 400,000 tons per annum would mean £20,000 additional to the Union Steamship Company, providing the statement was true that the mineowners had agreed,to give all their New Zealand cargoes to that company. In the face of the statement that the s.s. Eunerdale, belonging to the newly-formed Maoriland company, had been refused a cargo. Mr Gilbies was of opinion that the reported agreement was probably correct. The combine, however, would not have the effect of reducing the imports of Newcastle coal to this colony, because this coal is hard and not so. friable as; the New Zealand article, and is in great demand by the railways, mills, etc., but as the-local merchants were limited when fixing their retail prices the price to the consumers would probably.remain unaltered, at least as long as the prico at Newcastle remains the same as at present. The freight at one time, when tramp steamers engaged in the trade war.; as low as 6s per ton and in those davs merchants mnde a good profit; but latterly, said Mr Gillies cargoes had been turned over at 3d per ton profit, which was not much of a margin for speculators to work upon. .Until, however certain new mines in Westland were in full working order New Zealand would have to import considerable quantities of Newcastle coal.

Messrs John Mill and Co.. the Timarn agents for the steamer Ennerdale which was refused a cargo at Newcastle, say that so far they have heard nothing bevond what has appeared in. the papers, and are therefore not in a position to give their oiynions of the combine until further particulars are available. This is the last trip of the Evmerdale lo Australia, amlon her return she will engage, in the New" Zealand trade.