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COAL TRADE BULLETIN^
Vol. XII. PITTSBURGH, PA., MARCH 15, 1905. No. 8.
THE COAL TRADE BULLETIN;
PUBLISHED TWICE A MONTH.
Copyrighted by THE COAL TRADE COMPANV, 1904
A. R. HAMILTON, Proprietor and Publisher,
H. J. STRAUB, Managing Editor.
SUBSCRIPTION, - - - - $2.00 A YEAR.
Correspondence and communications upon all matters
relating to coal or coal production are invited.
All communications and remittances to
THK COAL TRADK COMPANY.
926-930 PARK BUILDING, PITTSBURGH, PA.
Long Distance Telephone 250 Grant.
[Entered at the Post Office at Pittsburgh, Pa., as
Second Class Mail Matter.]
THE PRACTICAL PROFIT-SHARING PLAN
AND EMPLOYES' INSURANCE AND PEN­
SIONS, AS PRESENTED IN AN ADDRESS
DELIVERED BY COMPTROLLER J. B. L.
HORNBERGER, OF THE PITTSBURGH
COAL CO., BEFORE THE EQUALITY
CLUB, OF BUFFALO.
The subject on which I am to speak this evening
may now he said to be a broad one; that this is
the case is one of the most hopeful and encouraging
signs of the times. A comparatively few
years ago profit sharing in any form, employes'
insurance and pensions were so exceptional that
the history of what had been done and what was
being done, could be covered in a small volume
or told in a short speech; it is not so to-day.
Many and varied form of practical profit sharing
have been put into successful operation; in large
railway, industrial and mercantile companies relief
departments may be said to be the rule rather
than the exception, and while machinery for the
accumulation and distribution of pension funds
has not been so generally set up there are notable
organizations of this kind also, such as the pension
funds of the Pennsylvania, Baltimore & Ohio
and Philadelphia & Reading railroads, and others.
including that of the Pittsburgh Coal Co.
I am not prepared to speak at length on this
subject in a broad and general way. I believe I
made clear to your president, at the time of
accepting his kind invitation to address you, that
my remarks would be confined, more or less, to
what has been done by the Pittsburgh Coal Co. in
co-operation with its employes along the lines of
practical profit sharing, insurance and pensions.
It will not be amiss at this time to tell those
present who may not be fully informed concerning
the Pittsburgh Coal Co. that it is the largest
coal producing corporation in the world, with
assets valued at upwards of $100,000,000, embracing
160,000 acres of Pittsburgh gas and steam coals
and Southwestern Connellsville district coking
coal, in addition to controlling interest in 40,000
acres of the same class of coals of the Monongahela
River Consolidated Coal & Coke Co., 13S
operating mines, 600 coke ovens, 4,000 miners'
houses, 30 miles of operating railroads in the
Pittsburgh district, 6.000 modern railroad coal
cars and 1,000 of the same leased, docks and modern
coal unloading machinery, owred or leased.
at Cleveland, Ashtabula, Fairport and Erie, fueling
docks at Sandwich and Amherstburg, Ontario,
Detroit and Sault Ste. Marie, Mich., and storage
and re-shipping docks at Chicago, Waukegan, Milwaukee,
Sheboygan, Ashland. Escanaba, Manitowoc,
Gladstone, Superior and Duluth, also controlling
interest, through stock ownership, in 80
steamboats, 4,000 coal boats and barges, ship
yards and landings on the Monongahela, Ohio and
Mississippi rivers, and storage and distributing
yards at Cincinnati, Louisville, Memphis, Vicksburg,
Baton Rouge and New Orleans. It has,
since its organization, distributed $11,164,963.79 in
dividends and has left a balance, of earnings undivided,
of $4,221,613.51, together with a renewal
fund of $1,938,319.93, in addition to which
the Monongahela River Consolidated Coal &
Coke Co. has distributed $2,900,000.00 in dividends
and has a balance of $1,700,000.00
earnings undivided. It has 8,400 acres of the
best coal lands in fee and 3,000 acres of the same
under lease in the Hocking district of Ohio in
which there are six mines in operation with an