Business: Gloom in the Valley

In its Panther Valley mines in eastern Pennsylvania, the Lehigh Navigation Coal Co. was in trouble. Last year it lost $3,400,000; this year the losses increased because of rising costs and a dwindling market. On May 3 the company, coalmining subsidiary of Lehigh Coal & Navigation and fourth biggest U.S. hard-coal producer, shut down the mines, threw 4,000 miners out of work. Later it offered to reopen the mines if the United Mine Workers' locals would agree to "work harder, produce more." Since there are almost no other jobs in the valley, five...

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