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This newspaper page contains 10 articles. Subscribers can read the full text of each article.
Newspaper
Charleston Gazette
Location
Charleston, West Virginia, United States of America
Date
Jun 09, 1924
Page
9
The article reports miners declaring their union agreement abrogated, prompting arbitration attempts in Cincinnati and later negotiations stalled by the operators. It details the dispute over contract terms, wage scales, and production targets amid broader labor tensions in Tennessee and Kentucky.
Fragmentary OCR text describes alleged rail connections involving the Chesapeake and Ohio Railway with references to cities such as Washington New York Cincinnati and Chicago. The legible portions hint at schedules or routing but are replete with garbled names and inconsistent spells, yielding an unusable, uncertain record.
Clarke argues that coal buyers control prices not by supply law but by shortages and seasonal demand, while West Virginia miners warn of industrial strife and open shops. The piece notes planned wage adjustments, production shifts, and the impact on employment as unions and open-shop mines adjust to market pressures and potential wartime wage policies.
The report surveys Virginia and Kentucky mines reducing workweeks and premiums amid price drops and railway settlement effects. It notes mining firms expanding mechanization, riverdock restrictions, and a push toward shared payment plans in union mines. Also covers a major coal distributor’s strategic moves and miner wage debates.
The text notes that the mines would continue to operate under the 1917 wage scale until contracts expired on or about April 1. Miners refused to accept reductions and could not secure new contracts at prices higher than those of competitors, forcing operation under the old terms.
Industry sources report diminishing activity across the nation with new orders sagging. May iron production shows an unprecedented downturn as furnaces blow out and steel work declines amid limited buying and rising stocks. Railroad shipments hold up though coal and ore movements slip, with overall output easing in early 1930s industrial figures.
A weekly bulletin from the Department of the Interior via the Geographical Survey reports coal production well below the year-ago level for the week ending May 34. Total output reached 7,750,000 tons, down more than 18 percent from last year, with demand easing and stockpiles growing as buyers await lower prices. Experts warn the industry faces continued struggle unless reserves are reduced and prices improve.
Wall Street notes the impact of the new tax bill and Congress actions on capital markets. Forecasters see steady prospects with export trade intact and production volumes holding, while margins between costs and selling prices restrain decisive gains. Agricultural outlook remains pivotal as low government crop estimates suggest continued high prices for cotton and grain. foreign progress is deferred amid cabinet formation in France and German disagreements, with money markets positioned for future discounting once conditions improve.
A progressive, forward move lifted U S obligations to new peak prices as easy money and favorable Washington developments drew funds into tax exempt securities. Market strength persisted despite stock price fluctuations with rail bonds improving alongside stocks. Wall Street banks competed for financing, total weekly issues surpassing 100 million with notable NY City bank and corporate stock sales and a record profit from underwriting.
National Coal Mining News argues West Virginia could become a larger coal producer under free competition. It cites WV near Hampton Roads and the Pennsylvania lead, predicting 50 million more tons yearly output and 150,000 miners, with longer work weeks and lower coal prices, powered by freer markets and reform of railroad rates and wages. The American Coal Miner editorial attacks railroads for suppressing coal production via low prices, calling out Wall Street and Atterbury as obstructors of fair industry and labor interests.
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