June 25, 1915.

THE COLLIERY GUARDIAN

1341

Notes from the Coat Fields.

[Local Correspondence.]

South Wales and Monmouthshire.

Mr. D. A. Thomas's Important Mission to America—Slight
Relaxation of Licence Difficulties—Conference at the
House of Commons—Authoritative Contradiction as to
Excessive War Prices—Scheme for Dockers to Don
Khaki—Coal Trade Improvement Attributed to Con-
sular Action—Should Statutory Restrictions on Output
be Removed?—Developments at Ebbw Vale : New
Capital Issue—Effect of the War Loan upon Colliery
Securities—Future Capital Issues More Costly—Good
Lead by Graham's Navigation in War Loan Subscrip-
tion—Striking Figures as to Colliers' Earnings.

Mr. D. A. Thomas, chief of the Cambrian Combine, has
undertaken on behalf of the Ministry of Munitions to visit
the United States and Canada, and organise the operations
of the munitions contracts which have been placed across the
Atlantic. As is well understood, the dealings of the British
Government with American manufacturers have been
financed through Messrs. J.' P. Morgan and Company, and
one part of Mr. Thomas’s work will be to revise the terms
with that firm, and to make arrangements for some means
of meeting British Government liabilities in respect of war
supplies instead of exporting gold. Between. 10 and 15
millions' sterling have already been sent forward to meet
these liabilities; and there is a necessity to make some
change ‘ which will not involve depletion of the Bank of
England’s gold reserves. With Mr. Thomas will go
officials of the War Office and of the Treasury; and Mr.
Thomas’s well known acumen, combined with business asso-
ciations which he has established during his recent visits to
the United States and Canada, lead to the expectation that
national interests will be peculiarly well served by his entrust-
ment with this important mission. As previously announced,
Mr. Leonard Llewellyn, general manager of the Combine’s
collieries, has already taken up duty under the Ministry of
Munitions in London.

The difficulty as to licences for exports has not been so
great during the past few days, but, nevertheless, it remains
still a serious hindrance to business, particularly in respect
of South America. This matter of the South American
trade was brought to the front by Mr. Edgar Jones, M.P.,
who made it the chief subject of his protest at the meeting
held under Lord Claude Hamilton, M.P., at the House of
Commons on Tuesday. He pointed out that the effect was,
through its hindrance of imports of corn from the Argentine,
to raise the price of food in this country.

The meeting was one of members largely interested in
coal supplies, and coal prices; and Sir Clifford Cory, M.P.,
also emphasised the inadvisability of interfering with South
Wales exports, his leading contention being that if the trade
were stopped in certain directions it could never be recovered;
for experience (gained during the workmen’s strikes in
previous years) has shown that this country never wholly got
back lost trade. He very much doubted whether the recom-
mendation of the committee appointed by a previous con-
ference, namely, as to fixing a price for coal at the pit-
head, and fixing the rate of freight for conveying coal with
a special reference to the gas and electrical undertakings,
would really reduce the price of gas and house coal in
England. The fact was that South Wales coal was not
taken for gas works or domestic purposes in England. The
average price of South Wales coal for the quarter ending
March had been, he said, a very low one; for it was not
19s. 6d. a ton f.o.b. at Cardiff; and if the price were to be
reduced, he did not know that collieries could continue at
work. Actually the price he had named for the March
quarter was a good deal lower than the market price for
July, before the war, when the quotation stood at about
23s. for best Admiralty steam coal. Big fortunes were not
being made out of the prices received during war time. The
Admiralty had been buying their coal at most reasonable
prices, while coal owners had been most moderate, seeing
that prices up to the end of February had been shillings per
ton lower than the market price before the war; and, since
the end of February, it had been only 2s. or 3s. above. The
Argentine was one of the best markets, and interference with
it was an interference with the import of food.

The recommendations of the conference will be sent to
the Government. It is understood that the Coal Export
Committee are favourably considering the practicability of
relaxing somewhat the restrictions on the exports from South
Wales to South America.

The idea of having docks worked by men under discipline
and wearing uniform has extended to South Wales, and
Col. Benniss, of the Cardiff undertaking is a prime mover
in bringing about the establishment of a Dockers’ Battalion
which should have operation at Barry and Penarth, as well
as in Cardiff. The scheme has been drafted, and is at
present under consideration of the different dock authorities,
receiving, at the same time, the very close attention of coal
shippers, because these docks are so largely occupied in the
shipping of coal, coke, and patent fuel, that any change in
the method of working has a direct effect upon the coal
trade. The workmen’s organisations do not favour the idea.
Indeed, when it was first mooted, about a month ago, the
Dockers’ Union promptly passed a resolution directly antago-
nistic. Since then, however, and especially in view of the
fact that at Liverpool the men working in uniform make
better wages than they formerly did, other ideas have become
prevalent, and the subject has been very closely canvassed
both on the side of the employers and workmen. An early
development of the proposal is expected. One reason set
forward by Col. Denniss for promoting the scheme is that
so .many of his men are leaving the docks in order to enlist,
whereas, in point of fact, these men are really needed to
handle the coal and other traffic, being, in that employment,
quite as much engaged in war work as any in the ranks
of the Army. There can be no question as tv the soundness
of this statement, seeing how largely the Admiralty and
our Allies are served from the docks of Cardiff port.

Mr. G. H. Insole, of the Cymmer Collieries, has made a
presentation, through the Lord Mayor of Cardiff, of a
specially constructed motor ambulance to be used in the
conveyance of wounded soldiers from the Bed Cross trains
to the various military hospitals of the city and district.

It was stated on Monday, when the Newport Shipowners’
Association gave a reception at the Harbour Board Offices,
that since the French Consul had sent a report to his-
country respecting the coaling facilities of Newport, the
trade with Marseilles had doubled, and that for Algiers and
other ports had more than trebled. Mr. W. Heard, who

made this statement, said that the trade could-, be still
further improved if business men would consult the respec-
tive consuls more often than they did. Mr. J. H. Vickery,
manager of the Alexandra Dock and Bailway, expressed the
opinion that the business premises, as well as the Board of
Trade and Custom House offices, were too far away from
the principal docks. Constant complaints were made about
this; and as the docks could not be brought to the town, he
thought they should concentrate the interests closer to the
clocks. The Corporation, and especially shippers, would
have to move in this and other matters.

The desirability of removing all restrictions upon coal
production is being proposed, whether those restrictions be
statutory, customary, or due merely to slackness manifested
in abstention from work; and the opinion is expressed that,
by such removal, the output would rise almost to normal
level, notwithstanding loss of 200,000 men who have enlisted.
It is questionable whether such a serious shortage could be
made good, for not half as many men as those enlisted have
presented themselves for employment in the mines; and
those engaged are by no means the equal of the men who
have been lost. Nevertheless, a removal of restrictions is
highly desirable. The operation of the Eight Hours Act
might, with advantage, be suspended; and more regular
work would have much greater result; and the good promise
of arduous effort, made manifest in the later returns, show
that it lies within the power of the men to increase largely
the market supplies. Figures relating to the month of April
prove conclusively that a much heavier output is practicable,
notwithstanding the loss of so many thousands of men. How
to induce and sustain more strenuous effort is the subject
of constant consideration just now.

The restriction of recruiting, so far as it affects miners,
is in full operation, for in certain parts of this district a
collier who wishes to enlist has to produce the assent of the
colliery manager; otherwise he will not be accepted. The
need of fully maintaining the output of “ Admiralty ”
qualities, both for the British Government and for our
Allies, is recognised clearly.

Glamorgan Council’s Mining Committee has a distin-
guished record for its educational work, and is noteworthy
for continual effort to meet the requirements of the industry
by furnishing facilities for improvement to the mass of
students who come forward. At last week’s meeting of the
County Education Committee a report was submitted that
the mining section had considered suggestions for ensuring
closer co-operation between owners and managers of mines
and the Committee with regard to education, it being highly
desirable that promising students should be afforded oppor-
tunities to attend the day and evening classes. Personal
interest taken by owners and managers in the class records
of students in their employ was suggested; also that students
preparing for the Home Office examinations might be treated
as apprentices. The report was adopted, the full Com-
mittee signifying approval of the recommendation.

The extension of the operations of the Ebbw Vale Com-
pany are demonstrated in their report, which was issued on
Tuesday. It is shown that stoppage of the colliery in April,
and the enlistment of so large a number of men (viz.,
5,000), left the output of the colliery at a reduction of a
quarter of a million tons for the year. War allowances to
the enlisted men’s dependants entailed an outlay of over
£22,665. Attention has already been directed to the extended
work of the company, the very large up-to-date installation
of coke ovens having been brought into operation about six
weeks ago, and the steel works and corrugated iron depart-
ment being in full operation; and it is now announced that
the directors have made an agreement to purchase 1,200
acres of iron-ore bearing land in Northamptonshire.
Because of the very large outlay on new and additional
works during recent years, and to provide additional working
capital, which is needed, the propose to increase the ordinary
.shares by £400,000, of which £200,000 will be issued at an
early date. This issue of capital is regarded on the Cardiff
Stock Exchange, where the shares are very freely dealt in,
as a further indication of the high promise which this com-
pany’s operations hold, and as a proof that the more recent
developments have been altogether successful. Some little
disappointment was expressed when the dividend on the
ordinary shares was fixed at only 7| per cent., but the
reason is now manifest—the large commitments in respect
of the Northamptonshire land, and the need of additional
working capital, being regarded as sufficient explanation.
During the past three years the company has spent on
property and new works as much as £566,000; and if the
retrospect be extended to 12 years, the amount is over a
million sterling

It .is shown in the report of the Newport-Abercarn Com-
pany that more than 20 per cent, of the company’s workmen
have joined the Colours, with the result that there has been
a marked decrease in the output. More than £2,000 has
been written off the suspense account in respect of allow-
ances to war dependants.

The Cardiff Stock Exchange is a leading, if not the chief,
centre for business in coal companies’ shares, and the issue
of the War Loan provoked general discussion .as to what
would be its effect upon securities of this class; particularly,
of course, upon the shares in local undertakings. This is a
subject of much importance, because it is obvious that, so
far as regards the prior charges, such as the debentures
(these, of course, having fixed interest), the effect is certain
to be injurious to market values. When a first-class Govern-
ment security is obtainable yielding 4| per cent., it follows
only, as a matter of course, that colliery debentures, espe-
cially in a district subject to labour disputes—and particu-
larly at a time when serious questions are at issue with the
workmen—would be expected to yield more than another
10s. per cent. A glance at the list shows how values
range. For example, 5 per cent, mortgage debentures of D.
Davis and Sons, Ferndale, are just above par; Ebbw Vale
fives are at 97; whilst Locket’s, of the same percentage,
are at 95 ; Newport-Abercarn, which are 6 per cents, and
first mortgage, are not above par; Ocean Companies’ 4 per
cent, debentures, are at 89; whilst Bhymney Iron Com-
pany’s 5 per cents, are. at 97. Speaking generally, the first-
class companies have their 5 per cent, debentures approxi-
mately at par; and current speculation is as to what will be
the effect, not immediately perhaps, but in the near future,
upon market values. As to the War Loan, this is certain of
appreciation when the war ends, for 4J per cent. British
Government security is something more than even gilt-
edged. This being so, what money will be available in the
future for developments which hitherto have been carried
out by the issue of debenture stock? and what interest will
have to be paid in order to attract investors? Sometimes
issue by debenture has been a necessity, the raising of new
capital by shares being impracticable, except in too costly

a fashion. It is clearly recognised that whilst all the
higher-class' securities, including railway preferences, gas
and water stocks, and the like, will be immediately depre-
ciated, peculiarly adverse influences will operate in respect
of the highest class of colliery securities—those debentures
which hitherto have been so helpful in times of financial
stress. An example of depreciation in a first-class security
was promptly afforded on Wednesday, when the guaranteed
5| per cent, stock of the Penarth Harbour and Dock dropped
no less than 7, from 119J to 112J. This is the coal line and
dock which is leased to the Taff Vale Bailway Company.

The proprietors of Graham’s Navigation Colliery, Mon-
mouthshire, have offered to purchase a 5s. voucher in the
war loan for any employee wTho will undertake to invest £5
or more; and arrangements will be made whereby the
balance of the £5 can be paid in instalments. Very favour-
able opinion has been expressed locally concerning this
practical method of encouraging investment by wage-earners,
and there is probability of the method being imitated
elsewhere. A telegram was received from the Chancellor
of the Exchequer on Wednesday expressing his approval
and gratification at the action taken for furthering subscrip-
tion to the loan

On Wednesday, Cardiff Chamber of Commerce considered
the question of the restriction of exports, the subject being
introduced by Mr. T. E. Watson, president, who made
some striking statements as to colliers’ earnings. The
Government, he said, might go wrong unless guidance were
afforded; and the hands of Mr. Donald Maclean, M.P., who
had very ably taken up the employers’ case, ought to be
strengthened. Only Mr. D. A. Thomas, among the more
prominent coal owners, had given any facts upon the ques-
tion; and they had everything to gain by open statement.
Dealing with the increase of cost occasioned by the war
bonus, Mr. Watson put it at Is. lOd. on large, or Is. 2d. on
small coal, and said he thought that Is. 6d. was the mini-
mum during May. In the same month, the average wage
per day of the men at his colliery was 9s. 4d., and the
maximum 17s. 9d. All he wished was that every collier in
the pits earned 17s. 9d. per day. Their most favourable
month was when the men earned 20s. 5d. per day. Again,
the collier got his coal at 6s. per ton, which meant a good
deal in the way of wages. They would imagine that all
this would mean increased production and increased atten-
dance at work; but it was nothing of the sort, for absen-
teeism in May was 14’51 per cent. In what other trade was
it possible for a man to earn 10s. a day in eight hours, and
leave his work one-seventh of the time. As to restriction of
exports, this war had to be paid for; and it was better that
it should be paid for by neutrals rather than by our Allies.
We were owing a vast sum of money, and it was necessary
that foreign countries should owe money to us. On exchange
—franc against sovereign—the coal exporters’ receipts were
diminished by 6d. to 9d. per ton.

Other speakers followed, among them Mr. H. F. Lambert
and Mr. Trevor Jones, the latter asserting that the presi-
dent’s figures were quite moderate, for in some collieries
they were largely exceeded. It was decided to refer the
question to the council of the Chamber.

Mr. A. E. Creed has been appointed manager of the
Blaenavon Company’s collieries. .

Northumberland and Durham.

Timber-drawing—The Dependants of Enlisted Miners.

The Marquess and Marchioness of Londonderry have
lent Seaham Hall as a convalescent home to be used by
wounded soldiers hailing from Seaham and district. All the
arrangements are being made under the personal supervision
of the Dowager Marchioness of Londonderry as lady super-
intendent.

Aid. William House, president of the Durham Miners’
Association and vice-president of the Miners’ Federation of
Great Britain, has been .appointed to the Durham Advisory
Committee for the Appointment of Justices, in succession to
Mr. Arthur Henderson, M.P., resigned.

Mr. John Stoker, who commenced his pit life as a driver-
lad, has, at the early age of something just over 30 years,
been promoted ,to the position of under-manager at No. 2
Pit, Wheatley Hill Colliery, in succession to Mr. Walter
Jones, who was recently appointed under-manager at Deaf
Hill Colliery.

As a thankoffering for the survival of her son, Lieut.
Geoffrey Blackett, of the 8th Durham Light Infantry, who,
first reported killed, has now been ascertained to be a
prisoner in Germany, Mrs. W. C. Blackett, wife of Lieut.-
Col. Blackett, agent of the Charlaw and Sacriston Collieries,
has decided to present a peal of eight tubular bells to
Sacriston Parish Church. The bells will be installed at the
conclusion of the war.

In view of the shortage of hewers, resultant on enlist-
ment, the Ashington miners have decided to reduce their
staff of checkweighmen "by one-half.

The officials and workmen of Sir B. Samuelson and Com-
pany’s Hedley Hope Colliery, of which Mr. W. Charlton
is agent, .have presented Mrs. David Dalrymple Mitchell
(nee Miss Charlton) with a beautiful chased brass clock as
a wedding present.

There was some discussion as to methods of timber-
drawing last week, when the death of Bobert Grieves,
deputy overman at the Willie Pit, Annfield Plain, was
enquired into by Deputy Coroner Shepherd. Whilst
deceased was drawing props the roof broke over him,
covering him completely and killing him. Thomas Parkin,
deputy overman, stated that deceased had been using an
ordinary mall. Witness did not think that a Sylvester
could' have been used there. Asked by the mines inspector
why extra precautions were not taken, in view of the
“ spiling ” of the roof, witness replied that there did not
seem to be any danger. The inspector remarked that if
deceased had got the length of his mall away, he would
have been on safe ground. “ If,” he asked witness, “ you
are going to stand between the props and knock one out, is
it wise? ” “ It’s a risky job,” witness admitted. Wm.
Bell, deputy overman, who examined the place after the
accident, on behalf of the Deputies’ Association, said that,
in his opinion, the casualty was a pure accident. Mr.
Shepherd pressed witness to say if there wTas any way by
which such an accident could be avoided. Witness said he
could not suggest any means. He would have done the
same thing himself, with the same implement. The
coroner remarked that no one wished to blame the men,
but they should take more precautions. A verdict of
“ Death from accident ” was returned.

It falls to the lot of few trade union secretaries to be so
well-to-do as has been proved to be the case with Dr. John
Wilson, M.P., whose death the Durham miners had good