§ 36. Mr. R. RICHARDSONasked the Secretary for Mines whether he will cause an investigation to be made into the retail prices of coal, with a view to the publication of the full facts?
§ The SECRETARY for MINES (Colonel Lane Fox)I would refer the hon. Member to the Debate on this subject on Wednesday evening last. There have been three or four reductions in retail coal prices during the last two months, and prices are now approximately at the level of a year ago. I do not think that any further investigation is called for.
§ Mr. RICHARDSONIs the right hon. Gentleman aware that miners' wages depend on the prices of coal, and we want to know the difference there is between pithead prices and the prices the consumer has to pay?
§ Mr. A. V. ALEXANDERCan the Secretary for Mines say whether the choke in railway transport has now been completely removed, as it was holding up both supplies and prices, and also work for the miners?
§ Colonel LANE FOXThat has been considerably improved, but it has not been entirely removed.
§ Mr. LAWSONIs the right hon. Gentleman satisfied with the retail prices of coal?
§ Colonel LANE FOXI am never satisfied with anything.
§ 38. Sir ROBERT HUTCHISONasked the Secretary for Mines the price at pithead of coal exported from the British Isles during the years 1925, 1926 and 1927, and the price of imported coal from countries outside the British Isles at the destination port in the British Isles during the years 1926 and 1927?
§ Colonel LANE FOXI regret that exact figures of the pithead price of coal exported are not in the possession of my Department, but the average declared value per ton f.o.b. of all coal exported from Great Britain and Northern Ireland was 19s. 10d. for 1925, 18s. 6d. for 1926, and 19s. 6d. for the first three months of 1927. The average declared value per ton c.i.f. of all coal imported was 42s. 11d. for 1926 and 55s. 3d. for the first three months of 1927.
§ 62. Mr. W. THORNEasked the Secretary for Mines if he is aware that the various qualities of coal have been reduced by 5s. per ton at the pithead, and that since the reduction the coal merchants in London have only reduced the selling price by 2d. per cwt., i.e., 3s. 4d. per ton; that the profit of the coal merchants is now 14s. 2d. per ton, an increase of 1s. 8d. per ton; and if he intends to take any action in the matter?
§ Colonel LANE FOXI am informed that the pithead price of coal sold in cwts. in London from trolleys was recently reduced by about 4s. per ton, and that concurrently the selling price of this coal was reduced by from 2d. to 3d. per cwt. I am not aware that the profit of the coal merchants is now 14s. 2d. per ton. In view of the steady reductions in coal prices, I do not think that any action on my part is desirable or necessary.
§ Mr. THORNECan the right hon. Gentleman state who it is that regulates the selling price of coal in London?
§ Colonel LANE FOXIt is very largely a case of supply and demand. [HON. MEMBERS: "No!"] Very largely it must be influenced by supply and demand. I do not know how the hon. Member arrived at the figure of 14s. 2d. If he will talk with me about it, I shall be pleased to see him.
§ Mr. THORNEThe selling price in my own neighbourhood is 2s. 8d. per cwt. Is it not a fact that there are certain large coal factors, such as Cory and Sons, who regulate the price once every week in London?
§ Colonel LANE FOXAll merchanting is done to a certain extent by big firms fixing prices. If the hon. Gentleman will put these figures to me, I shall be glad to consider them with him.
§ Mr. THORNEIf the right hon. Gentleman goes outside he can see with his own eyes what is the price of coal.
§ Sir ROBERT THOMASIs it not well known that there is a price-fixing association in London for this purpose?
§ Colonel LANE FOXThat is exactly what I said.