MINERS' CRISIS.

Taranaki Daily News, 17 September 1920, Page 5

MINERS' CRISIS.

A BRIGHTER OUTLOOK. • PRICE DEMAND MAY LAPSE. By Telegraph.—Pteu Aisn.=-Copyrijht. / Received Sept. 16, 8.20 p.m. , • London, Sept. 15. The coal outlook is brighter. "JJJie miners will probably drop their demand for a reduction in the price of coal if the Government guarantee to continue to control the industry over irn extended period. . The miners' executive has arranged to meet, Sir Robert Home (President of the Board of Trade) on Thursday. They will also summon a full conference of delegates of miners' lodges.—Aus.-N.Z. Cable Assn. Received Sept. 16, 8.45 p.m. London, Sept. 16. iTie Daily Chronicle says that at Thursday's meeting with Sir Robert : Home the miners may consent to waive their claim regarding the price of coal .... S.a pledge. is . given that coal will not be de-controlled during the present Par- ,-: lj*ment» and if a higher wage increase .is given than that, already asked. But , it mist be remembered that Sir Robert Hprae hag already announced that the ~p Wage demand must go to arbitration, as there is pot enough money in the industry to pay "the increase to the The chairman of the Coal-Owners' As- .; taxation announces .that the, coaloWnera do not want de-control, which is contrary to public interest.—Aus.-N.Z. Cable Assn.

ANSWER TO THE MEN. PROFIT AND PRODUCTION. * GREAT INCREASE IN WAGES. ,i Bf Telegraph.—Press Aaan.—Copyright. Received Sept. 16, 5.5- p.m. London, Sept. 15. Apropos of the question of the distribution of the coal output, a Government paper shows that daring the quarter ended on June 30, 58,000,000 tons were produced, and approximately 9,500,000 tons -were/exported. The cost of production totalled £88,000,000, tof ★hich £66,000,000 were paid in wages. The tonna|e raised per person -was 40.33 tons. The return shows that the gross profits feoni coal mining for the June quarter totalled £8,000,000, but this is subject to charges for interest and depreciation) owners' profits, and capital adjustments, making the nett profits for tis quarter £750,000, or £3,000,000 a year, " It fg pointed out that Mr. Smillie's case for a reduction of 14s 2d per ton in the selling price for domestic use is based on the assumption that the industry .Will giro a year's surplus of £66,000,000, and consequently it is claimed that the return completely explodes the miners' al&Sm. "The figures show, moreover, that the'average earnings of the coal workers of all grades are £226 per annum, against £BB before the war. Compared with the previous quarter the output of the mines decreased approximately 4,000,000 tons, while the export decreasITd nearly 2,500,000 tons. Miners' Federation challenges the Government's figures, And states that the costs of Federation challenges the Government's figures, and states that the costs of production include an abnormal amount spent by the mine owners on development. ■lt contends that this expenditure will continue high as long as the QTOei»\ believe de-control is approaching, because their profits are guaranteed regjti&ljMS of preparatory capital expenditure, wMch is always counted as an itig} of legitimate cost under the Coal Act. The Federation attributes titffeduction of output during the three ended June 30 to the usual holiV>d contends that its calculations or ilia annual output are not affected. It; attributes the reduction of exports, ob wltfch most of the profit was made, to diversion of the export of coal to bmnd use in order to build up accumulation at home in view of a possibility of a strike. The Federation asserts that with a return to normal conditions in expenditure on development and expenses, there td& tie sufficient surplus wholly to meet tie miners' present demands.—Reuter ,