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...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!