January 1, 1915.

THE COLLIERY GUARDIAN.

21

2,464,126 tons, compared with 2,419,394 tons in March
1913, or lan increase of 44,732 tons. Exports from
Cardiff alone were 1,624,112 tons, or an increase of
23,413 tons; from Newport, 455,674 tons, or an
improvement of 49,917 tons. At Swansea there was a
decrease of 29,772 tons; and at Port Talbot a small
increase of 1,174 tons. The market generally was not
quite so firm during the month. Best Admiralties
opened at 18s. 6d. to 19s., but closing quotations were
only 18s. to 18s. 3d., the lowest point touched during
the whole year. Ordinaries were 17s. 3d. to 17s. 6d.;
smalls, Ils. to Ils. 3d.; Black Veins, 17s. to 17s. 6d.;
western valleys, 16s. 6d. to 17s.; easterns, 16s. to
16s. 6d.; No. 3 Rhondda bituminous, 17s. 6d. to
17s. 9d.; and No. 2, 14s. 9d. to 15s. Patent fuel was
again a trifle easier, and receded to 21s.

April.

There were many enquiries on the market during this
month for large supplies of coal, but buyers hesitated
to place orders for all their requirements, in the hope
that by deferring their purchases, the quotations would
still further recede. From the commencement of the
year there had been a slightly sagging tendency, and
it was believed in many quarters that rates would go
still lower as the year advanced. This hope, however,
was not justified, for prices were firmer at the close
than at the beginning of the month. Best Admiralties,
which opened at 18s. 6d., advanced to 19s. to 19s. 6d.,
and ordinaries improved to 17s. 6d. to 17s. 9d. Smalls
were a shade firmer, at Ils. 3d. to Ils. 6d., and a
fractional rise was also recorded in each of the Mon-
mouthshire grades. Bituminous coals were somewhat
irregular, No. 3 Rhondda receding from 17s. 9d. to 18s.
to 17s. 6d., and No. 2 advancing 3d. to 13s. 9d. to 14s.
Shipments during the month showed a substantial
decline of 460,191 tons, the total being 2,230,701 tons
compared with 2,690,892 tons in the corresponding
month of 1913. From Cardiff the exports were
1,524,846 tons, or a falling off of 234,428 tons; from
Newport, 361,758 tons, or a decrease of 72,334 tons;
from Swansea, 203,284 tons, or a decline of 91,753 tons;
and from Port Talbot, 140,813 tons, or a decrease of
61,676 tons. The Russian Government were in the
market for 112,000 tons of steam coal for delivery
between May and September, and a further 20,000 tons
for October and November, but so far as could be ascer-
tained no definite contract was placed, and the
authorities contented themselves with purchasing
occasional cargoes as opportunity offered. The Swedish
State Railways contract for 30,000 tons of steams was
secured by Locket’s Merthyr Company, at a price
reported to be between 17s. 3d. to 17s. 6d. f.o.b. The
French Naval contract for 110,000 tons of best steams,
for which tenders were invited the previous month, was
secured by Nixon’s Navigation Company, at a price
reported to be a little under 18s. f.o.b. A point of
interest in conection with this contract was the fact
that this was the first occasion on which the French
Government had asked for prices on a f.o.b. basis. In
previous years tenders had been sent in both on a c.i.f.
and f.o.b. basis, and the former had always been
accepted. The Royal Mail Steamship contract for their
annual requirements was also secured by Nixon’s
Navigation Company, at 18s. f.o.b. Several other large
enquiries were also on the market, one being from the
Argentine Government for 150,000 tons of steam coal
spread over 18 months; another from the Santa Fe
Railway for 45,000 tons; the Bulgarian Government for
12,000 metric tons of steams, and small lots of 10,000
tons and 15,000 tons respectively for the French State
Railways and the Metropolitan Water Board. A
Turkish contract of 30,000 tons for the Hedjaz Railways
was secured by the Vulcaan Coal Company, at 26s. 3d.
c.i.f., which, at the current rate of the freight market,
left about 17s. to 17s. 6d. for the coal. Throughout the
month there were constant complaints of congestion at
the various docks and lack of tipping accommodation,
and it was reported that on one occasion there were as
many as a dozen steamers waiting for turns at a single
tip.

May.

There was a considerable improvement in the foreign
shipments as compared with the previous month, and
also in comparison with the corresponding month of
1913, the total being 2,435,021 tons, as against 2,154,627
tons the preceding year, or an increase of 280,394 tons.
From Cardiff there were despatched 1,699,716 tons, or
an increase of 285,410 tons; and from Newport 306,726
tons, or an advance of 38,306 tons. Swansea and Port
Talbot both showed decreases, the shipments from the
former port being 294,265 tons, or a falling off of 2,186
tons; and from Port Talbot, 134,314 tons, or a decline
of 41,136 tons. Prices generally showed little fluctua-
tion, but, if anything, quotations for best Admiralties
at 19s. 9d. to 20s., were a fraction firmer at the end of
the month than at the beginning. Ordinaries remained
stationary at 17s. 9d. to 18s.; and smalls only varied to
the extent of 3d., at 10s. 9d. to Ils. Monmouthshires
were inclined to be easier, Black Veins receding from
18s. to 17s. 6d.; western valleys from 17s. 6d. to 17s. 9d.
to 16s. 9d. to 17s.; and eastern valleys 17s. to 16s. 3d.
No. 3 Rhondda large continued at 17s. 6d. to 18s.
throughout the month, but No. 2 qualities were slightly
lower. Opening prices were 14s., but at the end of the
month they had dropped to 13s. 6d. to 13s. 9d. Patent
fuel was unaltered, at 21s. There was again a scarcity
of tonnage, owing to a large number of steamers being
laid up in Italian ports through a wages dispute, and
about 140 to 150 Spanish vessels were also off the
market owing to a strike of officers. A Turkish Govern-
ment contract for 30,000 tons of second-class
Admiralty coal was secured by the German firm of Hugo
Stinnes and Company. The price was not disclosed, but
it was stated to be on a satisfactory basis. The Great
Northern Railway Company of Ireland were in the
market for 110,000 tons of locomotive coal, for delivery

at the rate of 2,100 tons a week from July. It was
expected that the bulk of this business would be secured
by Monmouthshire collieries, as in several former years,
but a number of those who sent in tenders were informed
that their offers had not been accepted, and it was
reported that the contract had gone to the north. The
only other enquiry of any importance was by the London
County Council for 290,000 tons of steam coal for tram-
way purposes, of which 100,000 tons were to be Welsh
varieties. During this month a strike occurred at the
Ebbw Vale Company’s undertakings, and this caused a
stringency in certain Monmouthshire coals.

June.

Business during the first part of this month was
affected by the Whitsuntide holidays. The collieries
throughout the coalfield were closed for three days, and
many of the offices took a similar vacation. For the
first time, the trimmers also abstained from work
on the Tuesday, so that shipping was practically at a
standstill. As a matter of fact, the stoppage was rather
helpful than otherwise, because when the holidays com-
menced there was a dearth of tonnage, there being only
about 160 vessels in the various docks, compared with
an average of about 230. Shipments during the month
amounted to 2,166,099 tons, compared with 2,441,143
tons in the corresponding month of 1913, or a decrease of
275,044 tons. From Cardiff alone there were exported
1,433,844 tons, or a falling off of 131,783 tons; from
Newport, 364,610 tons, or a decline of 63,498 tons; and
there were also decreases at Swansea and Port Talbot of
19,467 tons and 60,296 tons respectively. Prices
generally showed a firmer tendency, probably due to the
fact that there were a large number of enquiries on the
market from all directions, including Roumania, Greece,
Turkey, Egypt, Italy, the Baltic, South America, and
Norway. Best Admiralties advanced to 22s., and there
was a corresponding increase in seconds and ordinary
qualities. Bunker smalls were also fractionally higher,
at 10s. 9d. to Ils. 3d., but other descriptions were
practically unchanged. It was reported during the
month that the Italian State Railways had placed an
order for about 100,000 tons of American coal at $24
per ton, which, added to a freight of about 9s. 6d., would
bring the price at Italian ports to about 19s. 6d. per
ton. It was believed that this announcement was made
with the object of “ bearing ” the Welsh market; if so,
it failed in its purpose, for it is generally known that
several of the large Italian steamship companies have
for some years past been taking large quantities of
Pocahontas coals, mainly for the reason that it acted as
ballast freight, and was cheap. Shipments of patent
fuel during this month were exceptionally heavy, and
amounted in the first week of the month to no less than
52,566 tons, which is almost, if not quite, a record. It
was also reported that negotiations were in progress for
the erection of extensive fuel works and coke ovens at
Port Talbot, which, when completed, would provide
employment for about 500 men. In the middle of June
there was a strike of marine engineers, which had the
effect of greatly disorganising the trade of the district,
as merchants were very loth to charter British ships,
unless the owners were prepared to guarantee that they
would sail when loaded. One other point of interest
worthy of mention was an opinion by Mr. Maurice Hill,
K.C., on the question of nursing tips at the various
docks. This has been for a long time a vexed question
amongst shippers, who complained that certain firms
were able to obtain tipping facilities which were not
granted to their less favoured competitors. The matter
was taken up by the Chamber of Commerce, and as
counsel’s opinion was unfavourable to the dock com-
panies, and against the practice, it is not improbable
that a test case will sooner or later be fought out in
the Law Courts.

July.

The inconvenience caused by the strike of marine
engineers became less pronounced during the second
week of this month, and a reassuring factor was the
settlement of the Italian strike, by which a large number
of boats were liberated for business in the Bristol
Channel. Many vessels, however, continued to be laid
up, with the result that stocks of coal accumulated in
the wagons, and temporary stoppages were reported at
a number of pits. The chartering returns for the six
months ending June 30 showed that the amount of
tonnage taken up during the half-year was 9,150,860
tons, compared with 9,501,448 tons in the corresponding
period of 1913, or a decrease of about 350,000 tons. This
was the first time for a long period that there had been
any check in trade expansion, but exporters were still
optimistic, and believed that the decline was only of a
temporary character. The Greek Government pur-
chased 12,000 tons of best steam coals on a c.i.f. basis,
leaving about 21s. per ton for the coal, and there was
also a further enquiry on the market for 30,000 tons for
the Greek Navy, which was placed with a Greek firm in
London, and an unstated amount for the Russian Navy.
The Argentine Navy invited tenders for 50,000 to 100,000
tons of double-screened coals for delivery over six
months from September. Contracts for 20,000 tons of
bituminous smalls for the Belgian State Railways were
secured by Messrs. Tabb and Burletson, Messrs. Ryman,
Watson and Company, and Messrs. Hugo Stinnes and
Company, at prices varying from 14*37Jfr. to 14*57 fr.
The Russian Navy was reported to be buying single
cargoes of coal through various sources, and there was
also a considerable amount of buying by the Austrian
and Greek navies. Best Admiralty coal again advanced
in price, and was firmly held at a figure ranging between
20s. 6d. and 23s. per ton. Bunker smalls were frac-
tionally lower, and the same remark applied to
Monmouthshires, but other descriptions were unaltered.
The announcement was definitely made that the Atlas
Coke and Fuel Company had completed their negotia-
tions for leasing a site at Port Talbot on which to erect

an up-to-date plant, and it was stated that the contem-
plated expenditure would be about <£300,000. Exports
during July again showed a decrease, the total from the
four chief ports of the Channel being 2,588,008 tons,
compared with 2,836,206 tons in the corresponding
month of 1913, or a decrease of 248,198 tons. From
Cardiff the shipments were 1,785,787 tons, or a decrease
of 51,446 tons; from Newport, 376,542 tons, or a decline
of 101,007 tons; from Swansea, 286,835 tons, or a
falling off of 41,864 tons; and from Port Talbot, 138,844
tons, or a decrease of 53,881 tons. The decline in the
exports was mainly attributable to the difficulties caused
by the marine engineers’ strike.

August.

This was a month which will long be remembered in
the history of the coal trade in South Wales, for it was
in the first week of August that war was declared with
Germany and Austria. The commencement of hostilities
had a very marked effect on coal shipments, and the
official Customs returns showed very great decreases at
each of the Channel ports. Of course, it must be
remembered that practically the whole of the collieries
producing best Admiralty qualities were controlled by
the Government, and a large number of steamers were
engaged on time charter for the purpose of supplying
the Fleet with coal. Particulars of all these trans-
actions were kept secret, and no details were allowed to
leak out of any Admiralty business. For the first few
days of the month the Exchange was a hive of industry,
and even on the Sunday work was in full swing. Trans-
actions were practically all on Admiralty account, and
there was the heartiest co-operation on all sides to
ensure adequate supplies for Naval requirements. In
order to prevent large steam coal getting into the hands
of foreign consumers with whom we are at variance, the
Government exacted a bond with (sureties of treble value
of the coal shipped, and this had the effect of putting a
stop to foreign exports. Efforts were afterwards made
to relax the conditions with respect to Norway,
Portugal, and Italy, and these endeavours were after-
wards successful, but no shipments could be made except
under special licence from the Admiralty authorities.
Even under these conditions, many shippers were
demanding spot cash at the time of loading. During
the first week of the month the miners took their usual
three days’ holiday, but since that time they agreed to
vraive the provisions of the Eight Hours Act in order to
provide the necessary supplies of coal. Freights began
to rise, and 2s. per ton more was being paid for Genoa
than immediately before the outbreak of war. The
moratoria introduced by our own Government and also
by Governments abroad had a deterrent effect on new
business, and it was estimated that from one to one
and a-half millions sterling was due to Cardiff firms, but
was locked up through the war. As already indicated,
shipments were on a much lower scale than usual, the
total for the Channel being only 1,102,980 tons, com-
pared with 2,112,131 tons in August 1913, or a decrease
of 1,009,131 tons. From Cardiff the exports were
639,369 tons, or a decrease of 703,324 tons; from
Newport, 270,762 tons, or 48,468 tons below 1913; from
Swansea, 130,775 tons, or a falling off of 161,242 tons;
and from Port Talbot, 62,094 tons, or a decline of
96,097 tons. Prices of best Admiralty coals were purely
nominal, and were not quoted, as no sales to outside
customers were taking place. Small coals began to
accumulate, because of the difficulties of shipment, and
the price of best bunkers receded from 10s. 6d. to 7s. 6d.
per ton. Other descriptions of coal and fuel were
unchanged. During the latter portion of the month
there was a heavy demand for small coal from France,
in order to replace the supplies formerly obtained from
Belgium.

September.

During the first week of this month it was reported
that more than 10,000 colliers were idle at various pits
owing to stoppages caused by shortage of wagons. In
the meantime, however, a great recruiting boom had
begun in the colliery districts, and many thousands of
men offered their services with the Colours. One of the
effects of the war was to create a great deficiency in the
supply of pitwood, with the result that prices advanced
to as high as 33s. to 35s. per ton. The usual shipping
statistics were not now available, and it was deemed
advisable even in chartering transactions neither to
mention the name of the boat or the names of the firms
doing the business. For the first three weeks of the
war the Admiralty demand had not relaxed, but in the
second week of. September it became possible to ship
best qualities of coal to private customers under con-
tract. Exports were fairly heavy both on Russian,
French, and Italian account, but trade was nothing like
normal, and it was expected that, apart from our own
Admiralty demands, the foreign shipments would show
a decrease of something like 50 per cent. Although
prices remained fairly stationary for large coals, and
also for Monmouthshires, there was a slump in bunker
varieties, and some producers even resorted to banking
rather than sell at the rates offering. Best bunkers did
not command more than 7s. 6d., ordinaries 6s. 9d. to
7s., and cargo sorts were dealt in round about 5s. One
large buyer refused to bid more than 3s. 6d. for the
latter, but salesmen generally made a stand, and deter-
mined not to sell below 5s. The decrease in the price
of small coal had the effect of reducing the quotations
for patent fuel, and best qualities were now offered at
17s. to 17s. 6d., with second grades down to 16s. The
Egyptian State Railways came into the market for
360,000 metrical tons of ordinary large steams, Mon-
mouthshire Black Veins, and western valley coals, and
also 40,000 tons of north country descriptions, the
conditions being delivery at the rate of 30,000 tons per
month in December and January, and 50,000 tons per
month over the remaining six months. The financial
conditions prevailing were very prejudicial to business,
and in many instances shippers refused to entertain any