22

THE COLLIERY GUARDIAN.

January 2, 1914.

prices. The majority of the principal firms decided in
future to quote on a net basis, instead of making an
allowance of 2J per cent, for cash in 30 days, which had
hitherto been the practice. The innovation caused a
little confusion at first, but both buyers and sellers
agreed that ultimately it would facilitate business,
and the alteration ultimately found acceptance on
all sides. Second-class Admiralty coals sold at
about Is. less than best qualities, whilst ordinary
sorts were Is. 6d. to 2s. less. The information
received by the Board of Trade from their accredited
agents in Russia “that the Council of Ministers had
decided to allow the importation of foreign coal for the
requirements of the State and private railways free of
duty for one year, it was thought would have a stimu-
lating effect on business, but so far as the Welsh ports
were concerned, the hope was not realised. There was
but little enquiry for anything except small coal. The
French State Railways placed orders for the bulk of
their requirements—130,000 tons—for delivery between
June 15 and November 30. The major portion was
secured by Messrs. Morgan, Wakley and Co., and
smaller quantities by Messrs. Pyman, Watson and Co.,
and a Newcastle house, but as the contracts were made
on a c.i.f. basis it was impossible to learn the actual
price. All that was vouchsafed was that after allowing
for freight and certain expenses it was somewhat under
current market quotations. This was somewhat
ambiguous, for about the time that the contracts were
accepted there was a fall in small coal of Is. 6d. to 2s.
per ton, bunkerings being obtainable at 10s. 9d. to Ils.
and cargo qualities at 8s. 6d. to 9s. The latter price
was maintained till the end of the month, but bunker-
ings receded a further 6d. to Is. per ton. Inferior
qualities of small fell to 7s. per ton, whilst dock screen-
ings were obtainable at 10s., or 3s. to 4s. lower. The
slump wss attributed mainly to the accumulation of
stocks prior to the Belgian strike. In Monmouthshire
coals there was a drop during the month of about
2s. 6d. per ton, Black Veins selling at 17s. to 17s. 6d.,
and Western Valleys at 16s. 9d. to 17s., in each case
f.o.b. Cardiff. In Rhondda bituminous coals there was
also a very heavy fall, No. 3 Rhondda large selling at
17s. to 17s. 6d. and No. 2 ditto at 13s. 3d. to 13s. 9d.
There being no disputes in the coalfield, the output
naturally showed a tendency to increase.

The long-vexed question of the charges to be made for
coal mixing was settled m June. Though the Chamber
of Commerce did not obtain all they asked for, satis-
faction was expressed that they had been able to make
an agreement for a period covering five years. This
applies not only to the Port of Cardiff, but also to
Newport, Port Talbot, and Swansea. For a single
wagon the charge is to be 2d. per ton, for three wagons
IJd. per ton, for five wagons Id. per ton, for seven
wagons Jd., and for eight wagons Jd. per ton. No
charge is to be made for lots exceeding eight wagons.
The scale came into operation as from the January 1,
and will not be liable to be advanced until December 31,
1917, except as respecting the Cardiff Railway Company,
who reserved the right to withdraw at any time on giving
six months’ notice.

July.

A great fillip was given to the coal trade in the month
of July by the heavy Admiralty demands on behalf of
the Naval manoeuvres. The number of vessels taken up
for the conveyance of coal for the Fleet was about 40, the
majority of which were on time charter at from 11s. to
12s. 6d. per ton on the gross register, and it is estimated
that the extra quantity of coal taken from the market
was not far short of 150,000 tons. The shipments from
Cardiff alone for 14 days were no less than 876,000 tons,
which has rarely been paralleled. For the entire month
the exports to foreign countries from the Bristol Channel
amounted to 2,873,830 tons, Cardiff being credited
with 1,837,233 tons, Newport 477.549 tons, Swansea
328,699 tons, and Port Talbot 192,725 tons. There was
very little best coal available, and the market through-
out the month was very firm. Best steams realised
20s. 6d. to 21s.; superior second Admiralties, 19s. 6d. to
20s.; and ordinary qualities, 18s. 6d. to 18s. 9d. The
Greek G-overnment placed an order with Messrs. Micha-
linos and Co., of London, for 40,040 tons of Ferndale
steam coals at 31s. 6d. c.i.f. Pirseus. Allowing for a
freight of 9s. 6d., and other incidental charges, this left
between 21s. 6d. and 22s. per ton for the coal f.o.b. The
coal had to be double screened, which as a rule is about
9d. per ton more than for single screened, and it had to
be delivered—20,000 tons in August, and the remainder
in September. After the demands by the Admiralty had
been met there was a good deal more tonnage about, and
freights, particularly to the Mediterranean, fell to a level
they had not touched for months, as low as 7s. 9d. being
accepted for Genoa. Buyers, however, continued to hold
back in the hope that as the quantity of tonnage offer-
ing increased there would be a still further fall in
freights. It was reported that contracts were made by
a few middlemen with buyers abroad for delivery over a
considerable portion of 1914 on the basis of about 18s.
per ton, or Is. to Is. 3d. more than during the latter part
of 1912. The small coal market continued in a very
depressed condition. The huge stocks laid in by the
Belgian and French consumers prior to the great strike
in Belgium were reported to be still unabsorbed. The
contractors for some of the French railways were also
asked not to press deliveries for a month or two,
so greatly were the railways stocked, and these
incidents had a marked effect on prices. Bunkerings
fell to 10s. per ton, whilst for cargo qualities
not more than 7s. 9d. to 8s. 3d. was obtainable, but
towards the end of the month there was an improve-
ment on these figures to the extent of about 6d. per
ton. As Monmouthshire coals did not participate in
the demands on the part of the Admiralty, they remained
without material alteration, Black Veins selling at from
17s. 3d. to 17s. 6d., and western valleys at 17s. f.o.b.
Cardiff. No. 3 Rhondda bituminous coals kept steady

at 17s., but No. 2 qualities fell to as low as 12s. 6d. per
ton. Best brands of patent fuel commanded from 22s.
to 22s. 6d.

It was reported that the Phoenix Patent Fuel Com-
pany had acquired about 20,000 square yards of land
alongside the King’s Dock at Swansea upon which to
lay down plant for the washing of coal as well as the
manufacture of fuel. The scheme had the support of
the Swansea Harbour Trust, and the joint expenditure
contemplated was said to be something like £70,000.

August.

The shipments during August showed a great falling
off as compared with the corresponding month of 1912.
From the whole of the ports in the Channel they only
amounted to 2,142,151 tons, or a decrease of 245,783
tons. Cardiff alone exported 1,342,693 tons, a decrease
of 217,753 tons, whilst from Newport there was a
decrease of 43,881 tons. No doubt the holidays
accounted in great measure for the reduction. As
the miners had been earning good wages for some time
past, and the weather was exceptionally fine, they pro-
longed their holidays much beyond the usual term. In
fact, even during the second week of the month it was
estimated that there was not a day in which more than
70 to 80 per cent, followed their occupation. Loading
in many cases had to be suspended because there was
not sufficient coal sent down from the pits to supply the
requirements of shippers. There was a plethora of
shipping in the port, and shipowners were glad to make
very substantial concessions to persons who were pre-
pared to charter. Particularly was. this the case as
regarded the Mediterranean ports, as low as 7s. 6d.
being accepted for Genoa. Owing to the decision by
the executive council of the South Wales Miners’
Federation that there should be a “ show card ” at all the
collieries in September in order to compel non-unionists
to fall into line, collieries were not inclined to make any
modification in their quotations, and best Admiralties,
therefore, were obtainable under 20s. 6d. per ton, whilst
in some cases as much as 21s. was quoted. Superior
seconds realised from 20s. to 20s. 6d., and ordinary
qualities from 18s. to 19s. The White Star Steamship
Company placed considerable orders for 1914 with the
Lewis-Merthyr Consolidated, the Great Western,
Cymmer, Powell-Duffryn, and the Mann George com-
panies at prices ranging between 17s. and 18s. net.
Owing to the diminished output a sharp rise took place
in small coal, bunkerings jumping up from 10s. 9d. to
Ils. 9d. per ton. Cargo qualities commanded from
8s. 9d. to 9s. Monmouthshire Black Veins ruled at
17s. 6d. to 17s. 9d., western-valleys 17s. to 17s. 6d.,
and best eastern-valleys 16s. 6d. to 16s. 9d. f.o.b.
Cardiff.

The last day of the month witnessed the disappear-
ance of the old pilot cutters, and the advent of a steam
pilot service. The number of pilots who served the port
was 93, and it was arranged that in future they should
work on a rota system, with two weeks on duty and one
week off duty, all their earnings to be pooled, and after
deducting expenses, divided proportionately.

September.

September was marked by considerable improvement.
Shipments to foreign countries amounted to 2,510,338
tons as against 2,387,536 tons in the corresponding
month of 1912, being an increase of 122.802 tons. From
Cardiff alone there were exported 1.675,361 tons, an
increase of 78, 759 tons, whilst Port Talbot showed an
increase of 11,463 tons and Swansea an increase of
24,663 tons. From Newport, however, there was a
decrease of 183 tons. These figures were very satis-
factory, considering that the supply of tonnage was not
nearly so great as one could wish, with the result that
freights very substantially advanced, as much as 9s. 6d.
being paid to Genoa, or 2s. more than was obtainable
two or three weeks previously. A fair amount of
contract business was done. The most important order
placed was that of the French Admiralty for 100,000
tons of best steams for delivery within six months. This
was given to Messrs. Lysberg and Co., who arranged to
take Nixon’s Navigation coal. As the price was a c.i.f.
one, it was impossible to say what it was, but it was
reported to be equivalent to nearly 19s., f.o.b. The other
forward contracts made were mostly for coals of a
secondary grade, The Cunard Steamship Company, as
on a former occasion, resolved to supply their require-
ments from Yorkshire, taking Barnsley washed steam
coal. The Egyptian States Railways also placed con-
tracts for best Monmouthshire and second Cardiff large
coals. Messrs. Milburn and Co. and Messrs. Morgan,
Wakley and Co. each secured 60,000 tons for delivery
from October to the end of March at prices equivalent
to 16s. 3d. to 16s. 6d. per metric ton. The original
enquiry was for 385,000 metric tons for delivery between
October and July. It afterwards turned out that the
Egyptian Administrators bought 50,000 tons of Blyth
and Yorkshire coal, the former at about 14s. 9d. and the
latter at 15s. 6d. to 16s., f.o.b. Prices for current busi-
ness showed no very great change. Best Admiralty coal
realised from 20s. to 20s. 6d.,‘and in some cases even 21s.,
but very little coal was obtainable direct from the
collieries. Middlemen who had contracted in the autumn
of 1912 at 18s. 3d. or even 18s., less 2| per cent., were glad
to accept anything between 20s. and 20s. 6d. net. Superior
second Admiralties sold at 19s. to 19s. 6d., and ordinary
seconds at 18s. 3d. to 18s. 9d. The fact that the Southern
and Northern Russian Railways and other consuming
interests had arranged for the supply of over half a
million tons of coal had for a time a very stiffening effect
on both the Welsh and English markets. This business
was entirely new, for hitherto the Russians had been
able to supply themselves with oil or with minerals from
their own coalfields. Towards the end of the month
bunkering small sold at 10s. 3d. to 10s. 6d., whilst cargo
qualities were obtainable at 7s. 6d. to 8s. per ton. In
Monmouthshire coals there was a decline, Black Veins
selling selling at 16s. 9d. to 17s., western-valleys 16s. 3d.

to 16s. 6d., and best eastern-valleys 15s. 9d. to 16s. f.o.b.
Cardiff.

At the beginning of the month the coal-trimmers
resolved not to do any work in future after one
o’clock on Saturdays. Though they were offered Is. per
hour overtime from one till three, and 2s. 6d. per hour
from three till five, they adhered firmly to their decision.
When it is considered that over half a million tons of
coal had been usually loaded at Cardiff alone over the
year on a Saturday afternoon, it will be readily under-
stood what a hardship this was to shippers. It meant
in many cases the holding up practically of a ship over
the week-end for the sake of perhaps 30 or 50 minutes’
extra work. Besides, the action of the trimmers placed
Cardiff at a disadvantage with north-country ports,
where the men had agreed to continue work on the
Saturday afternoon on payment of overtime.

October.

The shipments to foreign countries in October were
very disappointing. The total for the Bristol Channel
was only 2,616,148 tons, as against 2,793,364 tons in the
corresponding month of 1912, being a decrease of 177,216
tons. From Cardiff alone there was a decrease of
140,192 tons, and from Newport a decrease of 55,478
tons. Swansea was the only port which exhibited an
increase. Its shipments were 323,595 tons, or 16,322
tons more than in the previous year. The month
opened with a great lack of tonnage—on some days
there being only about 160 vessels in port, or fully 40
less than the average. This had a weakening effect on
prices, and instances were reported in which sellers were
glad to accept 20s. for best steam coals from anyone
prepared to offer prompt boats. The weakness, how-
ever, was only temporary. Owing to the numerous
stoppages that occurred at the collieries on the non-
unionist and other questions, together with the disastrous
explosion at the Universal Colliery, Senghenydd, by
which 439 lives were lost, outputs were considerably
below the average, and prices soon began to harden.
Another factor which had no little influence on the
market was the unusual demand for steam coals on the
part of the Admiralty, who engaged steamers so freely
to load for Malta and Gibraltar that it was probable
they relieved the market of some 40,000 to 50,000 tons
of the better class coals. In one week no less than
464,000 tons were chartered, which was a record with
the exception of the first week in the year. Before the
end of the month 20s. 3d. was asked and obtained for
best steam coals, whilst superior second Admiralties
fetched from 19s. 3d. to 19s. 6d. and ordinary qualities
17s. 9d. to 18s. A good deal of contracting was done,
. one firm alone selling first-class coals over the whole of
1914 at 19s. 3d. net, being a rise of about Is. 9d. a ton as
compared with the price paid 12 months previously. The
most notable contracts entered into were those for some
of the South American Railways. The Central Argen-
tine Railways, for instance, made arrangements for
delivery over the year of no less than 420,000 tons of
good steam coals. Of this quantity the Standard or
Ynyshir Colliery secured 140,000 tons, the Lewis-
Merthyr Consolidated 120,000 tons, Insole’s Cymmer
100,000 tons, and the Albion 60,000 tons. According to
rumours on ’Change the prices obtained were from
17s. 3d. to 17s. 9d. f.o.b. net. The Buenos Ayres and
Great Southern Railways also placed a contract for
340,000 tons of best Monmouthshire coals at about 16s.
f.o b. net. Shipments of small coal to the vine-growing
countries were considerably decreased on account of
the difficulty in getting wagons, and bunkerings at one
time sold at 10s. 6d. per ton, whilst cargo qualities were
obtainable at 7s. 3d. to 7s. 6d. The Paris, Lyons and
Mediterranean Railways bought 100,000 tons of small
coal from Messrs. Pyman, Watson and Co. at about
25 fr., delivered into trucks at Marseilles, over a period
of eight months, from January to August. The French
State Railways also came into the market for 380,000
tons of small for delivery over 1914, but they only placed
orders for 320,500 tons, namely: Messrs. Tabb, Burlet-
son and Co., Newcastle (represented at Cardiff by Messrs.
Powell and Co.), 90,000 tons; Messrs. Pyman, Watson
and Co., 70,000 tons; Messrs. Moxey, Savon and Co.,
50,000; Messrs. C. L. Olay and Co., 50,000; Messrs.
Morgan, Wakley and Co., 30,000; Messrs. Watts, Watts
and Co., 18,000; and Mr. Charles Le Borgne, 12,500
tons. The bulk of the business was done at from 18 fr.
to 18i fr., delivered at north French and Bay ports.
After allowing for freight, tax, &c., this was equivalent
to about 8s. 3d. to 8s. 6d. for the coal f.o.b. The Midi
Railway Company also arranged with Messrs. J. E.
Thomas Ltd., and Messrs. Franklin, Thomas and Co.
for the supply of about 60,000 tons of inferior cargo
smalls at from 16'85 fr. to 16 90 fr. delivered
at Bordeaux., The demand for Monmouthshire
coals for prompt shipment was very quiet all
through the month, and prices for the most part ranged
from 16s. 9d. to 17s. for Black Veins.	Western-valleys

were 16s. to 16s. 3d., and eastern-valleys 15s. 3d. to
15s. 9d., in each case f.o.b. Cardiff. The Vulcan Coal
Company, it was said, secured a contract for about
50,000 tons for the French State Railways, at from 30 to
30J francs delivered into trucks at Marseilles over the
first eight months of 1914. One or two of the Irish
railways also arranged for the supply of about 200,000
tons at the price of 16s. 3d. f.o.b. On account of the
termination of the strike amongst the clay workers in
Cornwall, there was a better demand for No. 3 Rhondda
bituminous coal at about 17s. per ton. Patent fuel also
sold very freely, best brands realising 22s. 6d. The
Northern Spain Railways contracted for 10,000 tons of
Arrow fuel at between 42 and 43 francs delivered into
trucks at Tarragona and Barcelona.

November.

As invariably the case, there was a good deal of con-
tracting done in November. Premier place has, of
course, to be awarded to the British Admiralty, who
came into the market for their annual requirements,