THE COAL VEND.

Dominion, Volume 4, Issue 1096, 7 April 1911, Page 5

THE COAL VEND.

DISSOLUTION DISCUSSED. By Telegraph-Press Association-Copyrisht Sydney, April 6. A meeting of colliery proprietors has further discussed tho Question of dissolving the Coal Vend, against which ttie Federal Government is proceeding as an illegal combination. It is understood considerable tension exists over the matter, the opponents of dissolution contending that dissolution would mean Hhc introduction of tho cutthroat policy, which would seriously affect the coal trade. .A statement was made, that if the Vend dissolved coal would bo sold in Newcastle at seven shillings a ton. The decision arrived at by tho meeting, if any, has not yet been disclosed. NEWCASTLE COAL EXPORT. Sydney, April 6. The coal exported from Newcastle during the last quarter increased by 631,000 tons compared with the previous corresponding period. It was reported at the beginning of March that tho dissolution of the Coal Vend was discussed at a private meeting of the New South Wales Colliery Proprietors' Defence Association. No definite information was available as to tho decision reached. As is known, writes the Sydney "Herald," the vend estimates the amount of trade for the year, and allots a proportion of that trade to each of ib members. If any member exceeds the amount of trade allotted him in the 12 months, ho pays back to the vend a. certain amount for each ton in excess of his allotment. By this refund the members, who through lack of trade or other reasons, did not reach the amount allotted them, obtain a share in the profits of the year's trade. Provision is made to prevent members leaving their collieries idle, and taking advantage of the industry of other members. It was in connection with this that the whole question of tho dissolution of the vend arose. It is stated that one big company connected with tho vend exceeded its allotment of trade to a considerable extent last year. The amount which (lie company in question was to pay back to the vend amounted, it is said, to about ■£•9(100. It was rumoured that tho company was loth to pay back such a large sum, and their refusal to do so would certainly have meant the break up of the vend. The matter wns brought np at the March meeting, when tho lnilitrint company was said to have agreed to fall into lino with the other members of (he vend.