Business: Industrial Cannibalism

The U. S. anthracite (hard coal) industry is a $400,000,000 investment 99?% concentrated in Pennsylvania. It has been so long on the verge of ruin that last week there was no particular reason why Pennsylvania's Governor George Earle should bustle to Washington to ask Franklin Roosevelt to do something drastic— but he did.

In 1937, among anthracite firms which went into the courts were the $94,000,000 Philadelphia & Reading Coal & Iron Co. and the $10,000,000 Madeira, Hill & Co. The former, a protege of Philadelphia's Drexel interests, has been historically associated with the...

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