Word: m
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Dates: during 1930-1939
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...worked. Colorado union men bought R. M. F. coal, as a contribution to the high wages and good working conditions that Josephine Roche's workers enjoyed. R. M. F. diggers were R. M. F. salesmen, and once, when the company was threatened by a price war by nonunion mines, went without pay for 2½ months to lend $80,000 to the management...
...while R. M. F. did better than others because of its union policy, the whole Colorado coal industry grew sick. The year that Miss Roche took over, a pipeline which had snaked its way from the natural gas fields of the Texas Panhandle went into operation. Owned jointly by Standard Oil of New Jersey, Sinclair Oil and Colorado Public Service Co., it knocked the spots off the coal business. In 1929, 9,934,000 tons of coal were mined in Colorado. By last year production had fallen...
Meanwhile, under the pressure of the New Deal and public opinion, the entire Colorado coal field had been unionized. Paradoxically, it hurt Rocky Mountain Fuel. Union men who once had demanded R. M. F. coal, were now willing to buy from any union mine. R. M. F. sales leveled off, ran a deficit year after year...
...Miss Roche stepped out of the presidency to become Assistant Secretary of the U. S. Treasury, turned over the job of running the company to able J. Paul Peabody. Last year, after his death, she returned to the job, later asked bondholders to take interest cuts in their R. M. F. 5s. They refused...
Last week, unable to effect a compromise that would keep R. M. F. out of ruinous reorganization, she stepped out. Old Vice President John R. Lawson, onetime president of Colorado's Federation of Labor, resigned and took three months' pay. Into Rocky Mountain Fuel's offices in Denver moved William Taylor, president of Cleveland's Coal Mine Management Co. His aim: to reorganize R. M. F.. put it back on a paying basis. Colorado mine union leaders talked to Reorganizer Taylor, said they were satisfied no change in labor policies was intended...