June 4, 1915. 1178 THE COLLIERY GUARDIAN. __________________________________ ______________________________________________ 6d. per ton advance on contracts they are refusing to selb preferring to risk the open market. A good many contracts have been fixed up these last few days and in each case the official advance has been secured. There is still a fair amount of buying from this district by works in London and the south. Supplies of manufacturing fuel are quite inadequate to meet the needs of the market and there has been a further all round advance in quotations. Washed nuts are well nigh unprocurable as the bulk of these are being sent to works engaged on Government contracts. Coking slack has also shown a marked appreciation on the week. Makers of washed furnace coke are inundated with orders and the yield of the ovens is quite insufficient to supply customers. There is no difficulty in securing from 23s. to 24s. per ton at the ovens for prompt supplies, while makers as a rule are not prepared to contract far ahead. The demand is particularly insistent from Frodingham and the Midlands, but there is some slight falling off from works in the Leeds districts. The foregoing pit prices represent average values in the open market. Barnsley. COAL. The attendance at the local market on Wednesday was much larger than the average, and a good deal of concern was shown by buyers who were seeking to make new arrangements with regard to contracts, owing to the decided jump in prices which has been made. Generally speaking, in regard to contracts which expire at the end of the present month renewals have been offered at advances varying from 5s. to 7s. per ton, the latter figure applying in cases where lower rates have been existing for the past year’s supply, with the object of bringing quotations to a general level. The contracts in question largely relate to manufacturing fuel, the production of which has so materially reduced, and the demand has so substantially increased. The view of the coal owners is that there is every probability of the output still being further reduced, owing to the fact that miners are still enlisting, and also of the fear that with the much increased wages which have now to be paid in consequence of the recent war bonus, that a section of men will be content to only work part of the time, and in this way force up the productive costs consequent upon a reduced output. They also point out that many of these contracts, which are expiring, have been supplied at less than the productive cost in - the immediate past, and, therefore, that the advances even approaching 100 per cent., are justified under all the circumstances. It should be explained that the coal owners of this district have no association for the purpose of dealing with selling prices, other than the question of supplies to the railway companies, and therefore individual action is being taken and varying rates of increase are being asked for. Naturally buyers were in no hurry to attempt to complete their arrangements, in consequence of the serious rate of increase, and there is some idea pre- vailing that official action will be taken which will compel collieries to modify their demand. Business generally was in a state of chaos, and nothing was done beyond the actual needs of the moment, buyers believing that their position cannot be jeopardised by holding off for the time being. In regard to large steam coal, the position is not much altered from a week ago. The trouble which is arising in respect of the issue of licences for foreign shipment has still the effect of throwing a considerable tonnage on the market, but there is little evidence of values having been weakened for home supplies as in the case of the Humber ports where tonnage is held by factors. The output of both best and secondary descriptions of hards appears to be readily dealt with, but so far as forward business is concerned there is practically no move whatever. The demand for steam nuts, which is chiefly for home pur- poses, is still well ahead of the supply, and, of course, the advanced prices, made several months ago, are still main- tained. The position in regard to slacks is also a very firm one from the coal owners’ point of view, and there is no difficulty in securing for prompt delivery the high prices which have been realised of late, whilst for best qualities there is a higher tendency prevailing. Gas coal collieries continue to be fully employed, and appear to be in such a position that the remaining contracts which are still unsettled are almost immaterial to them, the demand for 6s. per ton advance on renewals of contracts still being firmly adhered to. In respect to house coal, the collieries’ price lists just issued show advances from Is. 6d. to 2s. 6d. per ton. This increase is upon the substantial advance which was made during the winter, and present quotations will be something like 50 per cent, upon those prevailing at the same period a year ago. Merchants still report there is a difficulty in obtaining anything like ready deliveries of the best classes of coal, and as usual the public are showing panic owing to the advancing prices, and are ordering more than their normal requirements, with the result that the position of collieries is made much stronger. The demand for coke continues to be of a strong description, and prices remain firm with a prospect of further advances owing to the higher cost of slacks. The following list of quotations must not be taken too literally, but are an average of the fluctuating ptices:— Prices at pit. Current L’st week’s Last year’s House coals:— prices. prices. prices. Best Silkstone 22/ -22/6 20/ -20/6 18/6-19/ 17/ -18/ 15/6-16/ Best Barnsley softs 20/ -21/ 15/ -15/3 Secondary do. 18/ -19/ 12/ -13/ Best house nuts 17/ -18/ 16/ -17/ 13/ Secondary do 16/ -17/ 15/ -16/ 10/9-11/9 Steam coals:— Best hard coals 22/ -22/6 22/ -22/6 11/ Secondary do 20/ -21/ 20/ -21/ 10/6-10/9 Best washed nuts 20/ -21/ 19/ -19/6 19/ -20/ . 10/9 Secondary do 18/ -19/ 10/- __________________ Best slack 13/6-14/ 12/6-13/6 7/ Rough do 12/6-13/ 11/ "12/ 6/ Gas coals:— Screened gas coals 15/6-16/ 15/ -16/ 11/6- Unscreened do. 14/6-15/ 14/ -15/ 10/6 Gas nuts.... 15/ -16/ 15/ -16/ 11/ Furnace coke.... 23/ -24/ 23/ -24/ 10/ Hull. COAL. There is little or no improvement to repdrt in the state of the Humber export trade, the market being in a depressed condition, largely owing to the difficulties which beset it in regard to licences. The experience of the past few days shows that a very tight hand is being kept on export to neutral countries in Northern Europe, applica- tions being very closely overhauled and in cases refused, the object apparently being to exercise the greatest care lest any export should directly or indirectly comfort the enemy. The restrictive effect on trade is great, but exporters can only say that if it is necessary it must be borne. South Yorkshire hards have again eased off, and current value is about 22s. to 23s. for prompt ship- ment and slightly more for June. Secondary sorts are moderately steady washed doubles being quoted at 19s. to 20s. ditto singles, 18s. 6d. to 19s., ditto small coal and manufac- turing fuel 15s. to 16s. Derbyshire steams fire also depressed and are round about 22s. to 23s., for prompt or nearly prompt shipment at Grimsby or Immingham. There is little demand for house coal, which is quoted at 20s. to 21s. best West Yorkshire Hartleys. The forward market is quite hung up and no confidence shown in it. Nothing has transpired yet to indicate whether Italy will be a good customer in the near future. Shipments at the docks are fairly good, the bulk going to France. In the freight market business is limited to French ports and coastwise, rates inclining easier. Chesterfield. COAL. The coal trade of this district may be said to be quietly steady with a hardening tendency in the price of house coal, which is due to the continued increase in the cost of production. Orders are somewhat more numerous, as consumers are making provision against a possible further rise in values. Coal for manufacturing purposes continues in great demand. The supply at present appears to be sufficient to meet current requirements, but there is no margin for contingencies. Railway companies are now fairly well off for steam coal for locomotive use. Slack for boiler firing is in strong demand, and prices are very firm. Stocks have entirely disappeared from the pit banks, and consumers are dependent upon the daily output of the collieries for the supplies which they require. The export trade is suffering considerably from the difficulty with regard to licences to ship coal to neutral countries. These licences continue to be refused, and it is impossible to obtain from the War Trade Committee any reason why any particular licence is declined. It is feared that unless the position becomes easier it will not be possible to work full time at the pits. In the meantime, the price of steam coal is falling and orders are diverted to America. The matter is a serious one to the coal trade, and colliery owners are anxiously awaiting developments. The coke market maintains the strong tone which has recently characterised it. There is a brisk demand for all qualities. Coking fuel is scarce and dear. Prices at pit. Current L’st week’s Last year’s Best house coals prices. prices. prices. 18/ 18/ 13/6 Secondary do 17/ 17/ 12/ Cobbles 17/ 17/ 11/ Nuts 16/6 16/6 9/6 Slack 12/9 12/9 7/6 # IRON. There is no change in the pig iron trade, the condition of which is exceedingly quiet. There is very little, buying going on. There is a much better state of things in regard to the finished iron trade, where orders are plentiful and prices good. _________________ Nottingham. COAL. The trade in the Nottinghamshire coalfield is of an active character, although the general demand is not quite so large as a few weeks ago. The falling-off has been confined mainly to the domestic fuel section, the warm weather having had a retarding effect, especially at the landsale depots. Best and secondary qualities are, however, in fair request, and common sorts are selling better than usual. With the granting of a war bonus to miners, merchants are desirous of securing full supplies in the expectation that prices will advance rather than decline. Owners are in the position of executing orders with less delay than formerly. There is marked activity in the steam coal section, where the demand is heavy for nearly all classes. Miners continue to join the Forces, and it is evident that the present output cannot very easily be maintained, as practically all the pits are, and have been for some weeks, making full time. In the present state of affairs, with a large tonnage required for Government work, some merchants are drawing as freely as possible on contracts, for values are disposed to advance. Slacks are in keen request, especially best qualities, which are scarce, and other sorts are quickly bought. Gas coal is in steady demand, and the same remark applies to coke. Prices at pithead. Hand-picked brights ...... Good house coals......... Secondary do............. Best hard coals..........__ Secondary do............. Slacks (best hards) __.... Do. (second) ......... Do. (soft)............ Current prices. 18/6-20/ 16/6-17/6 15/ -16/ 18/6-21/ 17/ -18/ 12/6-13/6 11/ -12/. 11/ -12/ L’st week’s prices. 18/6-20/ 16/6-17/6 15/ -16/ 18/6-20/ 17/ -18/ 12/6-13/6 11/ -12/ 11/ -12/ Last year’s prices. 13/ -14/ 11/6-12/ 10/6-11/ 10/3-10/9 9/6-10/ 6/3- 7/ 5/6- 6/ 5/6- 6/ Leicestershire. COAL. The position of affairs in this coalfield has not undergone any improvement, and all sections of the trade seem very desirous of acting on the safest lines. There is a good deal of apprehension as to the ability of colliery proprietors to maintain even the present restricted output for any lengthened period. This uncertainty is undoubtedly the cause for the great hesitation in accepting contracts for the year which would come .into operation at the end of the current month. Where contracts are signed they are on the basis of an advance of from 5s. to 6s. per ton advance on the rates of last season, but the contracts only stipulate for very greatly reduced quantities. The object of this is, of course, to minimise responsibilities on the one hand, and to leave the colliery proprietors a wider field of action in which to meet exceptional difficulties and unexpected circumstances which may arise, especially during the winter months when the consumption is at its maximum. There is enormous pressure on the part of coal merchants to get contracts booked if only for minimum quantities, and practically everybody wishes to safeguard supplies well in advance as far as practicable. At a considerable number of collieries in adjoining districts the whole of the probable output has been sold under contracts, and further offers are being refused. This circumstance increases the pressure to get contracts placed here and it furnishes a very good index to the real situation. All classes cf coal command a very free sale at present time, and there are no stocks of any kind at the pits, whilst prices continue to be extremely firm all round. The demand for all classes of manufacturing fuel is enormous and far in excess of the quantities available. A struggle is going on to get future supplies secured in order to provide against contingencies, and the position is very complicated. Double screened nuts for mechanical stokers are particularly active and prices tend more distinctly against buyers. The supply of empty railway wagons is still extremely irregular and much short of urgent require- ments. The following are the quotations, subject to special modifications, which now generally prevail at the collieries in this district:— Prices at pit. Best household coal .............. Second, hand picked __.............. Deep screened cobbles .................. Deep large nuts .................. Bakers’ nuts....................... Small nuts ....................... Deep breeze....................... Peas ............................. Small dust ....................... Main nuts for London kitcheners ... Steams, best hand picked .................. Steams, seconds ___:................. Main cobbles for kitcheners ........ Main breeze.......................................... ________________________________ Current / prices. 18/6-19/6 17/6-18/6 16/6—17/6 16/ -17/ ; 15/6-16/ 14/ -14/6 i 14/ -14/6 ; 11/9-12/6 ' 5/ - 5/6 15/9-16/9 15/ -16/ 14/ -15/ 15/9-16/9 13/6-14/6 L’st week’s prices. 18/6-19/6 17/6-18/6 16/6-17/6 16/ -17/ 15/6-16/ 14/ -14/6 14/ -14/6 11/9-12/ 5/ - 5/6 15/9-16/9 15/ -16/ 14/ -15/ 15/9-16/9 13/6-14/6 __________________ South Staffordshire, North Worcestershire and Warwickshire. Birmingham. COAL. The market is in an awkward state, but one thing that emerges clearly is that the public need not expect any reduction this summer. On the contrary, very soon— possibly in a month’s time—they will probably be asked to pay more. Consequent on the advance in wages under Lord Coleridge’s award, coalowners have been notifying advances on contract rates, and merchants resent this as they cannot pass the charge on to their customers. Altogether the situation is difficult. For works fuel the demand is maintained, and there is likely to be a renewal of buying of domestic coal very soon. Quotations :— Prices at pit. Current L’st week’s Last year’s Staffordshire (including prices. prices. prices. Cannock Chase) :— House coal, best deep ... 20/ 20/ 17/6 Do. seconds deep 19/ 19/ 15/ Do. best shallow 18/6 18/6 13/6 Do. seconds do. 17/6 17/6 12/9 Best hard 16/6 16/6 14/6 Forge coal 14/ 14/ 10/6 Slack 10/ 10/ 7/ Warwickshire:— House coal, best Ryder.. 19/6 19/6 15/6 Do. hand-picked cobs , 17/6 17/6 13/ Best hard spires 18/ 18/ . 14/6 Forge (steam) 13/6 13/6 ■ 10/6 D.S. nuts (steam) 14/6 14/6 9/6 Small (do.) 11/6 11/6 8/ ■ IRON. The market did not disclose any material change in con- ditions in the iron and steel trades. It was antici- pated that the'ascertainment of the Wages Board for the March-April period should bring with it an advance in ironworkers’ w’ages, and the men are disappointed that it is not more than 2| per cent., bringing the puddling rate, with the 6d. allowance which has been in operation since 1912, up to 10s. 6d. per ton, irrespective of the war bonus granted a month ago. Selling prices have recently been at a high level, but it is obvious that a large proportion of the deliveries covered by the ascertainment were on old contracts, taken at or before the New Year. The effect of the higher prices will be shown in the return for May and June. In the case of small rounds, for instance, current quotations are in the neighbourhood of <£11 15s., but contracts are still unfinished which were taken early in the year at £7 15s. The galvanised corru- gated sheet trade is for the time being in a parlous state. Spelter has reached an exorbitant figure, and there is no market for sheets at prices which makers would have to charge to allow them a profit. There were therefore practi- cally no quotations—£20 was the lowest—and it would be no matter for surprise if some of the mills closed down. Meantime they are producing black sheets, which instead of being ^galvanised are painted grey on either side and used for roofing. Best bar iron remains at £11 a ton for new business, but the contracts booked at ten guineas are not worked off. Second-class bars are mounting very near to this level; indeed, it has been quoted by firms whose order books are full, but business is done mostly at £10 10s. to £10 15s. Bolt iron is obtainable at £10 to £10 2s. 6d., and nut iron at 2s. 6d. less. For gas strip the market level is also around £10 10s., and for steel strip £11.10s. Pig iron makers report more movement, in buying