Business: Haste Makes Waste

A delight to Washington gossips last year were the bickerings of the National Bituminous Coal Commission, many of them attributable to the vigorous, Napoleonic methods of its chairman, 50-year-old Charles Hosford Jr. At year's end, however, the commission finally managed the herculean job of fixing 30,000 minimum prices for soft coal produced east of the Mississippi (TIME, Dec. 27). By last week it became apparent that the commission, in its haste, had erred on the side of being too Napoleonic. The Association of American Railroads, whose members burn 22% of U. S. soft...

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