THE COLLIERY GUARDIAN. 571 September 11, 1914. _______________________________________________________________________________________________________ three seasons experiments with American coal threatened local trade, while quantities of north-country outputs were also purchased. This year no American coal is to be bought, apparently. House coal and sundries show no market variation, but smalls are decidedly easier, supplies being plentiful and buyers rare. Pitwood is again quite firm, at 28s. to 28s. 6d. for good wood ex-ship, and it is to be expected that high prices will continue under present conditions in France—which was our chief source of supply —or until the production of some iron substitute in merchantable form at a satisfactory price helps to cut down this expensive item of cost of production. Prices f.o.b. cash 30 days, less 2| per cent. Steam coals:— Best Black Vein large... Western-valleys, ordin’y Best Eastern-valleys ... Secondary do. Best small coals ..... • Secondary do......... Inferior do........... Screenings............ Through coals ........ . Best washed nuts__.... Other sorts:— Best house coal....... Secondary do.......... Patent fuel .......... Furnace coke.......... Foundry coke ......... Current L’st quot’d Last year’s prices. | prices. I prices. 18/6-19/ : 18/6-19/' 17/ -17/6 1ft/ _1Q/Q 1ft/ _1ft/Q 1R/Q_1fi/Q 18/ -18/3 18/ -18/3 17/ -17/6 17/3-17/6 15/6-16/ 16/3—16/6 7/6- 7/9 8/ - 8/3 - '7/-7/6 6/9- 7/3 8/3 11/9—12/ 18/ -19/ 6/9-7/ 6/ - 6/3 7/9 i 11/9-12/ 12/6-13/ 16/3-16/9 15/9-16/ 15/3-15/6 7/9- 8/ 7/3- 7/6 6/9- 7/ Sl , 13/ -13/3 14/ -14/6 18/ -19/ s 18/ -19/6 16/6-17/6 ' 17/ -18/ 18/ -19/ i 19/ -19/6 17/6-19/ 17/6-19/ 20/ -23/ 20/ -22/6 48/ -19/ 17/ -18/ 19/6-20/ 22/ -23/ 26/ -27/ IRON. During the past week there has not been much alteration in the local iron and steel trades. Buyers are now quieter, having covered for all their immediate requirements, and they now show no inclination to rush ahead, but prefer a waiting attitude. The greatest difficulty at present is the dislocation of trade caused by the rush of skilled labourers to join the Army, and until this has spent itself, and the wages of the district attracts, as it is bound to do, workmen in substitute, there will be no big outputs. Even when new men are secured they will be unskilled for a time, and yery probably not the equal in muscle and intelligence of those whose places they take. Just at present the pig iron market is unsteady, and only small business being done. Values of iron ore are based upon 18s. 6d. for best rubio c.i.f. Newport. The present demand for tin-plates is quiet, and no further mills have been restarted. Cardiff. COAL. There is little change in the position of affairs in this district, and in many respects the trade has almost assumed normal conditions. The demands of the Admiralty showed a tendency to relax at the close of last week, and on Friday, for the first time since the commencement of the war, it was possible to ship best qualities of steam coal to private customers. This, however, was only in limited quantities, and even now the wThole of the output of some of the best collieries is being exclusively reserved for Government pur- poses. The call for recruits for Lord Kitchener’s Army is materially affecting outputs, and at many of the pits work can be given to hundreds of men. In these conditions it will readily be understood that outputs are considerably below the normal, although the men are working the extra hour provided for in case of emergency by the Eight Hours Act. Chartering last week was rather slow, the total amount of tonnage reported being under 130,000, compared with 202,000 tons in the preceding six days. >hipments have been heavy both on French, Russian, and Italian account, but the trade done is nothing like normal, end when the Board of Trade returns come to hand it is believed that exports to foreign countries will show a decrease of nearly 50 per cent. For the small quantity of best Admir- alty coal available sellers are asking 22s. to 22s. 6d., but the latter quotation is an outside figure, and business nas been done between those limits. Superior seconds are about 20s. to 21s., and ordinaries 19s. 3d. to 19s. 6d. Middlemen, however, are accepting even lower terms, especially in cases where they are covered by contracts. Monmouthshire coals have been very strong, and heavy exports are being made both to Italy and Egypt for railway purposes. Best B'rck Veins are realising as much as 19s., Western Valleys 18s. 6d., and the best of the Easterns 17s. 9d. to 18s., in each case f.o.b. Cardiff. The small coal market is in a weak and irregular, condition, and some producers are resorting to banking rather than sell at the rates now offering. Best bunkers do not command more than 7s. 6d., ordinaries 6s. 9d. to 7s., and cargo sorts round about 5s. For the latter quality one large buyer on Tuesday would not bid more than 3s. 6d., but no business resulted, and collieries seem to be making a stand not to sell below 5s. ' The trade in bituminous coals is slow, although quotations show little alteration, except for through and through and smalls, which are inclined to be easier. No. 3 Rhondda large is offering at 10s. 6d. No. 2 qualities are 13s. 9d. to 14s., with other grades in proportion. Coke is still firm, and with the improvement now taking place in the iron and steel indus- try of the Midlands, a better demand is looked for. The patent fuel trade is quiet, owing to the difficulties of ship- ment and the operation of foreign moratoria. The only cargoes shipped during the week has been one of 1,200 tons to Trinidad, but further shipments are being arranged within the next few days. The slump in small coal has had the effect of reducing the prices of fuel, and best brands are now offering at 17s. to 17s. 6d., with secondary qualities round about 16s. Arrivals of pitwood have been fairly satisfactory, but the labour difficulty is now being felt abroad, owing to the large number of men who have been called up for active service. Prices are now about 28s. 6d., but at the time of writing there was a slightly hardening tendency. Later.—It was reported on ’Change on Wednesday after- noon that the Egvptian State Railways were in the market for supplies for the eight months ending July next. The quantity asked for is 360,000 metrical tons" of ordinary Cardiff large steams, Monmouthshire Black Veins, or Western Valley coals, and there is also a further demand for 40,000 tons of North Country coal. For several years past, owing to the fear of labour troubles in South Wales, the Egyptian authorities have placed a portion of thei" requirements with American producers, but on the prese it occasion there is apparently no intention of taking aw American coal. Only a year ago several options were given for North Country coals, but the invitation in this instance is for one brand only, and the whole of the remainder5of the contract will be placed in South Wales. Conditions as to delivery are 30,000 tons per month in December and January, and 50,000 tons per month over the remaining six months, but power is reserved to vary the quantities for particular months to the extent of 30 per cent. The enquiry, coming at this juncture, was quite unexpected, and con- siderable interest is being taken in the business, as the prices now obtained will form a pretty fair guide as to the rates which will prevail during the first half of 1915. For several years past the Egyptian authorities have confined themselves chiefly to Monmouthshire coal, but at the present time these descriptions are quoted higher than ordinary Cardiff steams, so that it is not unlikely the business may pass into other channels, and that some portion, at ail events, of Cardiff coal will be taken. Swansea. COAL. The trade of the port continues to improve slowly. Last week a considerable expansion was shown in the coal and patent fuel trades, particularly the latter; the shipmnts of coal and patent fuel amounted to 69,330 tons. There was a fairly good attendance on ’Change this morning, but very little new business was passing. There was a poor demand for Swansea Valley and Red Vein large, but no alteration in quotations was noted. Machine-made nuts and cobbles were easy, whilst there were very few enquiries for peas or beans. Rubbly culm and duff continued stationary, there being practically no call for these commodities. In the steam coal market business was a little better, enquiries for large being improved. Prices of coal f.o.b. Swansea (cash in 30 days). Prices f.o.b. Cardiff (except where otherwise stated). Steam coals:— Best Admiralty steam coals Current prices. 22/ -22/6 20/ -21/ 19/3-19/6 7/6 6/9- 7/ 5/ 4/ - 4/6 18/6-19/ 17/6-18/ 15/6 14/6 14/ 13/ 10/ 19/ 18/6 17/9-18/ 15/ -15/6 20/ 17/6-19/6 17/6 14/6 10/6 13/9-14/ 10 6-10/9 7/ - 7/6 17/ -17/6 16/ 27/ -30/ 22/ -25/ 18/ -19/ 28/6 L’st week’s1 prices. 20/ -21/ 19/ -19/6 8/ 7/ - 7/6 6/3- 6/9 4/6- 5/6 19/ -20/ 17/6-18/6 15/ -15/6 14/ -14/6 14/ 13/ 10/6 18/9 17/9-18/ 17/3 16/ -16/6 20/ 17/6-19/6 17/ -17/6 14/6 11/ 13/9-14/ 10/6-11/ 7/ - 7/6 21/ 19/ -20/ 27/ -30/ 21/ -25/ 18/ -20/ 32/6-33/ Last year’s prices. 20/6-21/ 19/ -19/6 18/3-18/9 10/3-10/6 9/9 7/3- 7/6 6/9 18/ -19/ 15/9-16/6 16/ 15 14/ 13/. 11/6-11/9 17/6-17/9 17/ -17/3 16/3-16/6 15/6-15/9 20/6 18/ 17/ 14/9-15/ 12/6 13/ -13/6 11/3 7/9- 8/ 22/6 19/6-20/6 30/ 24/ -25/ 20/ 22/ -22/3 Superior seconds Ordinary do Best bunker smalls Best ordinaries Cargo qualities Inferior smalls Best dry coals Ordinary drys Best washed nuts Seconds Best washed peas Seconds Dock screenings Monmouthshire— Black Veins Western-valleys Eastern-valleys Inferior do Bituminous coals :— Best house coals (at pit) Second qualities (at pit) No. 3 Rhondda— Bituminous large Through-and-through Small No. 2 Rhondda— Large Through-and-through Small Best patent fuel Seconds Special foundry coke Ordinary do. Furnace coke Pitwood (ex-ship) Current L’st week’s Last year’s Anthracite:— prices. prices. prices. Best malting large (hand picked) (net)... 18/ -20/ 20/ -22/ 21/6-24/ Secondary do. 17/ -18/ 17/ -18/ 19/6-20/6 Big Vein large (less 2| per cent.) 16/6-17/6 16/6-17/6 17/ -18/6 Red Vein large do. ... 12/6-13/6 12/6-13/6 12/9-14/6 Machine - made cobbles (net) 19/3-21/3 19/6—21/6 21/6-23/ Paris nuts (net) — — 23/6-26/ French do. do 21/ -23/ 21/ -23/ 23/6-26/ German do. do 21 -23/ 21/ -23/ 23/6-26/ Beans (net) 18/6-19/6 18/6-19/6 16/6-19/ Machine - made large peas (net) 12/6-13/6 12/6-13/6 12/ -13/6 Do. fine peas (net) — — — Rubbly culm (less 2|p.c. ) 5/6- 6/ 5/9- 6/3 6/9- 7/ Duff (net) x. 3/ - 3/6 3/ - 3/6 5/ - 5/6 Steam coals:— Best large (less 2| p.c.) 18/ -20/ 18/ -20/ 19/ -20/ Seconds do. 13/6-15/6 13/6-15/6 16/ -17/ Bunkers do. 10/3-11/ 10/3-11/ 11/6-12/6 Small do. 8/ - 9/6 8/ - 9/6 8/ -9/ Bituminous coals:— No. 3 Rhondda— Large (less 2| p.c.) ... 17/ -18/ 17/ -18/ 17/ -18/ Through-and-through (less 2| p.c.) — — 13/6-14/6 Small (less 2| p.c.) ... 10/3-10/9 10/3-10/9 10/6-11/6 Patent fuel do 16/6-17/6 16/6-18/ • 18/ -19/ IRON. There, are still many mills idle in the tin-plate trade, and the demand generally remains inactive, although some fairly substantial orders are being received for home consumption. It is estimated that about 250 mills are unemployed, whilst others are working short time. In several cases, however, makers are producing full outputs. Receipts from works last week amounted to 30,288 boxes, but shipments were only 12,276 boxes, leaving stocks in the docks, warehouses, and vans 247,185 boxes. Quotations are nominally 13s. 9d. for Bessemer standard cakes, but a discount of 3d. is reported to have been accepted for pronmt business. Oil sizes, 18f by 14, are 13s. 6d. to 13s. 9d., and 20 by 10 sheets 19s. It is anticipated that the removal of the embargo on the export of galvanised sheets will have a beneficial effect on this industry, and arrangements are being made for a prompt resumption of operations. Some good orders have been placed on Government account, and with spelter coming down to more reasonable limits, there should be a spurt in foreign and colonial business. Quotations for 24 guage corrugateds are now =£14, although a few days ago as much as .£15 was being asked. Welsh steel bars are very’ firm at £5 2s. 6d. to £5 5s. per ton. Welsh pig iron is quoted at 72s. 6d. to 73s. 6d. f.o.t. Iron ore is rather easier, and best rubio is now obtainable at 19s., and Almeria at 16s. 9d. per ton. In scrap metals, there is practically no change, but there is an improving enquiry, and better times are anticipated within the next few weeks. Llanelly. COAL. The position of the market continues to be most unsatis- factory, and, with the exception of large steam, no ccal is in good demand. Very little shipping is being dene, and stocks are heavier than they have ever been. Unfortu- nately, the outlook is none too bright for the coming winter, and collieries, it is feared, will have many idle days. Pits are only working half-time, and even then the make far exceeds the demand. Anthracite of all kinds are moving very slowly. Large qualities are weak, and even for horti- cultural classes the position is none tco firm. The machine- made kinds until the past few days have been in splendid demand from inland, but lately the enquiry has failed badly. Prices are weak, and for spot lots collieries are pre- pared to accept lower figures. This week's prices nominally are :— Prices f.o.b. IRON. During the past week there was» a good production of p: iron at the blastfurnaces in the district, and business was a little more satisfactory in the steel trade, there being two furnaces in full operation at the Duffryn and three at the Forest works. Most of the works had a heavy stock of steel ingots, and there was a decrease in the demand for bars. Some of the tin-plate works were working well, despite the slackness of trade. All sheet mills w’ere at a standstill, and* there was hardly anything doing at the bar mills. The Mannesmann Tube Works were in full swing, and the iron foundries had a fairly good week. The shipments of tin- plates last week wTere 12,276 boxes, receipts from works 30,288 boxes, and stocks in the dock warehouses and vans 247,185 boxes. __________________ THE BY-PRODUCTS TRADE. Tar Products.—The market continues steady, the chief characteristic being the absence of unduly inflated prices. Benzols are the firmest items, and carbolics keep firm at the recent reductions. Naphthas are quiet. Creosote unchanged. Nearest values are :— Benzols..................................... Do. North............................... Toluol ..................................... Carbolic acid, crude (60 per cent.) __........ Do. crystals (40 per cent.) ........ Solvent naphtha (as in quality and package)... Crude ditto (in bulk) ....................... Creosote (for ordinary qualities) ............ Pitch (f.o.b. east coast) ..................... Do. (f.a.s. west coast) ..................... Tar .......................................................... 1/1 to 1/2 /H /Ilf 2/2 to 2/4 /8to/9 /3f 35/ to 35/6 33/to 34/ 25/3 to 29/3 [Benzols, toluol, creosote, solvent naphtha, carbolic acids, usually casks included unless otherwise stated, free on rails at maker's works or usual United Kingdom ports, net. Pitch f.o.b. net.] Sulphate of Ammonia.—There is a steady tone about things, even if business is restricted. There seems less likelihood of the sulphate industry being as completely dislocated as the production and sale of nitrate of soda has been. The complete cessation of dues is a serious matter for the Chilian Government, and Germany and Austria were two big markets for nitrate, whereas we shall lose nothing in the German market but have her exports of sulphate to acquire. Closing prompt prices are :— London (ordinary makes) .......... <£11 Beckton ........................... <£10 Liverpool ......................... <£10/12/6 to <£10/15 Hull................................ .£10/11/3 Middlesbrough..................... <£10/12/6 Scotch ports ....................... <£11/2/6 Nitrate of soda (ordinary) per cwt. ... 10/9 I Current Anthracite:— prices. Best malting large ... 21/ -23/ Secondary do. ...; 19/ -21/ Big Vein large.......! 16/ —18/ Red Vein do.........13/6-14/ Machine-made cobbles... | 20/ —22/ German nuts.........I 21/ -23/ French do...........| 21/ -23/ Paris do...........i 21/ -23/ Machine-made beans ... 20/ -22/ Do. peas......... 13/6-14/6 Culm ................ 6/ - 6/3 Duff ................ 3/9- 5/6 Other sorts:— Large steam coal..... 16/ -18/ Through-and-through...1 11/ -11/6 Small ...............I 8/6- 9/6 Bituminous small coal.. J 11/ -11/6 L’st week’s prices. 21/ -23/ 19/ -21/ 16/ -18/ 13/6-14/ 20/ -22/ 21/ -23/ 21/ -23/ 21/ -23/ 20/ -22/ 13/6-14/6 6/ - 6/3 3/9- 5/6 16/ -18/ 11/ -11/6 8/6- 9/6 11/ -11/6 __________ Last year’s prices. 20/6-22/ 19/ -20/ 17/6-18/6 13/6-14/6 19/6-20/6 23/ -24/ 23/ -24/ 23/ -24/ 20/ -21/ 12/6-13/6 7/ - 7/3 5/6- 7/ 17/ -18/ 11/6-12/ 9/6-10/ 11/ -12/. [Sulphate of ammonia, f.o.b. in bags, less per cent, dis- count; 24 per cent, ammonia, good grey quality; allowance for refraction, nothing for excess.] _____________________________ Bunker Shipments.—In August 1.147,437 tons of coal, etc., were shipped for the use of steamers engaged in the foreign trade, as compared with 1.749.847 tons in August 1913, and 1,850,346 tons in August 1912. In the first eight months of the pi esent year 13.249.027 tons were so shipped, as against 13.720.560 tons and 11,608.744 tons in the corre- sponding periods of 1913 and 1912 respectively. Clyde Valley Electrical Power Company Limited.—For half-year to June 30, 1914, the profit amounts to £30.665, and the balance brought in was £9,477. After payment of dividends on preference shares to April 30, 1914. £8,724, and after adjusting interest, and transferring £12,500 to con- tingency fund for depreciation, etc., there remains a balance of net profit of £19,297. The directors recommend that, in terms of resolution passed at general meeting on March 13, 1913, £1.925 be transferred to special reserve fund, and balance of £17,372 carried forward,