July 2, 1915. THE COLLIERY GUARDIAN 35 Haydon Bridge, Northumberland, and at Alston, in Cumber- land, and at Newcastle-on-Tyne, under the respective names of Wm. Benson and Wm. Benson and Son. Nominal capital, £200,000 in 200,000 £1 shares. Governing director, W. J. Benson, Newbrough Hall, Fours tones-on-Tyne, quarry owner. Qualification of governing director, £10,000; ordi- nary directors, £1. Bradshaw (Charles) and Company Limited.—Private com- pany. Registered office, 5, John Dalton-street, Manchester. Registered June 25. To enter into an agreement, and to carry on business of makers, manufacturers, exporters, importers, dealers in, and agents for engineering specialities, patent or otherwise, machinery, plant, tools, implements, etc. Also of brick and tile manufacturers, colliery proprietors, coke manufacturers, etc. Nominal capital, £5,000 in 5,000 £1 ■shares. Directors :—C. Bradshaw, 5, John Dalton-street, Manchester, engineer; F. C. Bradshaw, 2, Oxford-street, Old Trafford, Manchester, engineer. Everall and Hill Limited.—Private company. Registered office, Horsley Fields, Wolverhampton. Registered June 23. To enter into an agreement, and to carry on business of colliery proprietors, manufacturers and dealers in bricks, pipes, tiles, earthenware, timber, coke manufacturers, coal and coke merchants, patent fuel manufacturers, etc., etc. Nominal capital, £2,500 in 2,500 £1 shares. Directors and subscribers (one share each) :—E. G. Everall, 80, Clark - road, Wolverhampton, Stafford, coal merchant; M. Hill, 104, Compton-road, Wolverhampton, Stafford, coal merchant. Qualification of directors, £500. Lowa Engineering Company Limited.—Private company. Registered office, 74, Vauxhall Bridge-road, Westminster, S.W. Registered June 19. To carry on, either as principal or agents, the businessi of electrical, mechanical, sanitary, gas, hydraulic, water, and general engineers, builders, contractors, metal workers, galvanisers, etc. Nominal capital, £1,500 in I, 000 £1 participating preference shares and 10,000 Is. ordinary shares. Subscribers (one participating preference share each) :—W. Adams and R. F. Hutchinson, both of 74, Vauxhall Bridge-road, Westminster, S.W., engineers. Malcast Foundry (1915) Limited. — Private company. Registered office, The Crescent Works, Pleck-road, Walsall. Registered June 23. To acquire the business now carried on by the Malcast Foundry Limited, and to enter into an agreement. Also to carry on the business of manufacturers of malleable and other castings, metal workers, ironfounders, machinists, etc. Nominal capital, £1,000 in 1,000 £1 shares. Directors and subscribers (one share each) :—W. Foggo, 1, Vicarage-road, Handsworth, Birmingham, engineer; S. A. Cosgrave, 3, Roxborough-avenue, Harrow. Qualification of directors, £100. Rubel Bronze (1915) Limited.—Registered office, 82, Vic- toria-street, Westminster, S.W. Registered June 22. To carry on business of manufacturers, exporters and importers of, agents for, and dealers in alloys, bronze ingots, castings, forgings, tubes, sections, metals, minerals, ores, etc. Also of chemists, iron masters, colliery proprietors, coke manu- facturers, electrical and mechanical engineers, manufacturers of ordnance and firearms, etc. Nominal capital, £100,000 in 100,000 £1 shares. Minimum subscription, 100 shares. Subscribers (one share each) :—G. A. Grimsdick, Hazeldene, Wandsworth Common, S.W., directors of public company; H. Hagon, 32, Applegarth-road, West Kensington, W., clerk; Ethel C. Glass, 60, Pennard-road, Shepherd’s Bush, W., clerk; E. Brooker, 24, Burnthwaite-road, Walham Green, S.W., accountant; F. Smith, 110, Clifford-gardens, Willesden, N.W., clerk; and two others. Ynisgynon Collieries Limited.—Private company. Regis- tered office, Atlantic Buildings, Docks, Swansea. Regis- tered June 23. To acquire the Ynisgynon Colliery, Swansea Valley, Glamorgan, and to carry on business of colliery pro- prietors. Also to search for, get, win, work, make market- able, and dispose of lead, tin, oil, clay, precious and other minerals, brick earth, coal, etc. Nominal capital, £10,000 in 1,000 £10 shares. Directors :—E. Lewis, Graigypal Glais, Swansea Valley, Glamorgan, colliery proprietor; W. J. Stephens, Dolcoed Sketty, Glamorgan, colliery proprietor; E. Joseph, 6, Bonville-terrace, Swansea, Glamorgan, engi- neers’ manager; A. Freedman, Fanora, 12, Clavert-terrace, Swansea, Glamorgan, accountant; D. G. Jones, Lletty David Resolven, Glamorgan, colliery manager. Qualification of directors, £1,000. This list of new companies is taken from the Daily Register specially compiled by Messrs. Jordan and Sons Limited, company registration agents, Chancery-lane, E.C. THE FREIGHT MARKET. On the north-east coast outward chartering has been restricted by the intervention of the Race Week holidays, and the volume of business done is comparatively slight. At the time of writing there appears to be a somewhat improved enquiry for tonnage, but supplies are ample, and rates in all directions favour charterers, when compared with the figures given a week ago. Coasting prices are easier. North France is reduced by from 3d. to 9d. Tyne to Rouen, and is 2s. down for Dunkirk. The Bay has fallen by Is. to Bayonne. The Mediterranean is reduced by from 2s. 6d. to, 3s. 6d. to Genoa, 3s. 6d'. to Marseilles, and 2s. to Port Said. The Canary Islands are Is. lower. At South Wales, transactions have been fairly numerous, but there also the supply of tonnage has been fully equal to the demand, and figures in most instances reveal some reduction. A conspicuous exception is the River Plate, rates in that direction being much higher. French ports are being fixed for at slightly easier figures. The Bay is favouring charterers, and the Mediterranean is from 2s. to 2s. 6d. cheaper for Genoa, Savona, or Spczzia. The Canary Islands are about Is. less. Homewards, River Plate rates have smartly advanced once again. A prompt boat from San Lorenzo has been done at 50s. to the United Kingdom, as compared with 45s. last week. That figure would, probably, be difficult to repeat, but, nevertheless, fully 47s. 6d. is being offered by merchants for prompt handy sizes. There is an improving enquiry from America for grain tonnage for July-August from the Gulf to the French Atlantic seaboard, at from 9s. 6d. to 9s. 9d. For collier vessels, 39s. is being paid for West- Italy, and from 35s. 6d. to 36s. for Spanish Mediterranean destinations. Such tonnage is somewhat in excess of requirements. North Pacific ports are very dull, at from 82s. 6d. to 85s. for season loading. There is an indifferent enquiry from the nitrate ports at about 75s. to United Kingdom, France, or Mediterranean. The enquiry from Java and Vladivostock is very small. The rice ports rule slow, with Saigon to United Kingdom at about 65s. The Indies are dull, and wheat cargoes from Kurrachee have been accommodated at 45s. net. The Mediterranean is very quiet, with more tonnage offering than there is any market for. Tyne to Aden, 4,500, 36s. 6d.; Bagnoli, 7,000, 26s.; Bayonne, 1,300, 20s.; Bordeaux, 3,300, 20s.; 4,400, 20s.; Boulogne, 1,300, 15s.; Cape Verds, 3,000, 23s. 6d.; Calais, 570, 14s. 6d.; Caen, 1,000, 14s. 6d.; Dunkirk, 550, 14s. 6d.; Fecamp, 650, 15s.; 1,300, 15s.; Genoa, 5,200, 27s. 6d.; 3,000, 27s. 6d.; 4,600, 26s.; 3,400, 26s. 6d.; Havre, 1,300, 15s.; 2,600, 14s.; London, 1,450, 7s. 4£d.; 1,450, 7s. 6d.; Leghorn, 2,700, 28s., July; Las Palmas, 2,600, 22s.; Mar- seilles, 2,700, 28s.; 4,500, 24s. 6d.; Naples, 5,100, 30s.; Oporto, 2,500, 22s. 6d.; 1,000, 22s. 6d.; Piraeus. 3,300, 31s.; 9.500, 31s. 6d.; Porto Ferrajo, 5,500, 28s. 6d.; 7,000, 26s.; Port Said, 6,800, 28s., reported ; 5,000, 26s. 6d.; Rouen, 1,950, 16s.; 1,400, 16s.; 1,650, 16s., from Dunston; Savona, 5,200, 27s. 6d.; 3,000, 27s. 6d.; St. Malo, 900, 14s. 6d.; St. Vincent, 3,000, 23s. 6d. Cardiff to Alexandria, 5,100, 25s., 500; Bordeaux, 2,000, 18| fr.; Barcelona, 2,800, 21s.; 1,250, 20s.; 2,000, 20s.; Chantenay, 1,200, 15} fr.; Cape Verds, 3,400, 20s.; Caen, 700, 12s.; 1,600, 12s.; 360, 12s., two voyages; Calais, 700, 13s. 6d.; 1,000, 13s.; Dunkirk, 700, 13s. 6d.; Gibraltar, 1,200, 16s. 6d., July 5; Granville, 580, 11s., coke, on d.w.; Genoa, 4,700, 22s.; 2,900, 22s. 6d.; Havre Canal, 1,800, 12s.; Honfleur, 1,600, 12s.; Las Palmas, 3,000, 19s.; Leghorn, 4,000, 21s., 500; 6,200, 20s., 600, 6d.; 2,900, 23s.; 3,000, 22s. 6d.; Lisbon, 1,650, 15s. 6d.; 1,400, 15s., 350; Malaga, 1,300, 19s.; Marseilles, 5,700, 24 fr.; 3,200, 25 fr.; Nantes, 1,900, 15} fr.; 1,200, 15} fr.; Naples, 4,000, 21s., 500; 3.500, 20s.; 4,200, 20s., 800; 3,000 , 20s., 800; Oporto, 1,300, 16s.; Port Said, 4,800, 22s. 6d.; 6,000, 24s.; Pernambuco, 4,000, 24s.; Philippeville, 2,200 , 26 fr. coal, 27 fr. fuel; Rio de Janeiro, 6,000, 25s., 300, early July; 5,800, 25s. 6d.; Rochefort, 1,200, 15} fr.; Rouen, 1,550, 13s.; River Plate, 6,000, 26s. 6d.; 4,700, 26s. 6d.; 4,500, 27s. 6d.; 4,600, 30s.; St. Nazaire, 2,000, 14} fr.; 3,000, 15} fr.; 1,550, 15} fr.; 2,100, 15} fr.; St. Servan, 1,500, 10s. 9d.; Savona, 3,000, 22s. 6d.; St. Malo, 1,600, Ils. 6d.; Spezzia, 3,000, 22s. 6d.; Salerno, 4,200, 20s., 800; 3,000, 20s., 800; Torre Annunziata, 3,500, 20s. ; Teneriffe, 3,000, 19s. Swansea to Belfast, 640, 4s. 3d.; Havre, 1,140, 11s. 6d.; 1,080, 10s. 9d.; Caen, 950, 11s. 9d.; Catania, 2,200, 22s. 6d. coal, 23s. 3d. fuel; Sundswall, 1,900, 21s., early July; Rouen, 1,450, 13s.; 1,000, 13s. 6d.; 1,750, 13s. 6d.; Oran, 1,800, 20 fr. coal, 22 fr. fuel; Dieppe, 1,000, 12s. 6d., conse- cutive voyages, July to March; 1,700, 11s. 9d.; Alexandria, 3.500, 25s. 6d. coal, 26s. 3d. fuel; 3,800, 25s. 6d., option 300 tons coke, 29s.; Tonnay Charente, 1,700, 14 fr.; 700, 15} fr. coal, 16 fr. fuel; Marans, 900, 19} fr. coal, 20 fr. fuel. Hartlepool to La Rochelle, 1,500, 19s. Newport to Marseilles, 3,200, 25s.; Sables, 900, 15 fr., two voyages ; Huelva, 1,700, 16s. 6d.; River Plate, 5,000, 27s. 6d., July 5; Bahia Blanca, 7,000, 28s.; Gibraltar, 1,150, 16s. Partington to Rouen, 1,800, 13s. 6d. Port Talbot to Caen, 700, 12s.; Calais, 700, 13s. 6d.; Dunkirk, 700, 13s. 6d.; Nantes, 1,400, 15 fr.; Huelva, 2.500, 16s. 6d.; Rouen, 1,100, 13s. 3d.: Honfleur, 800, 11s. 9d., July 5. Neath Abbey to Dieppe, 12s. 6d. Hull to Honfleur, 520, 13s.; Rouen, 1,400, 16s.; 2,000, 16s.; 2,500, 16s.; Archangel, 1,200, 13s. 6d., July. Grimsby to Dieppe, 900, 13s. 6d. Forth to Ornskjoldsvik, 2,800, 19s. 6d., early July. Immingham to Dieppe, 1,100, p.t.; London, 1,800, 7s. Goole to London, 500, 7s. 4}d. Warkworth to Hudikswall, 1,500, 21s. 6d., July. Ayr to Rouen, 1,300, 16s. 6d. Wear to Rochefort, 1,350, 20s.; 1,700, 19s.; Havre, 1,300, 14s. 6d. Blyth to Caen, 650, 14s.; 550, 14s. 6d. Burntisland to London, 620, 8s. Opening South China Coalfields. — There is a very fair prospect for the development of some of the coalfields of South China, especially within Hong Kong’s trade territory, on a modern basis, writes U.S. Consul-General George E. Anderson, Hong Kong. At several localities along the west and north rivers near Canton coalfields have been worked in native fashion for some time, and the output has come to amount to a considerable volume. An American mining expert has had occasion to look into one of these fields in the past few weeks, with a view to development along modem lines, and gives some facts of interest. The property examined is situated on the North river, about 100 miles from Canton, the actual mine being located about a mile from the river bank on the right side. The survey for the Canton-Hankow railway lines crosses the property. The property occupies broken ground, embracing two lines of hills of considerable height. The native workings are located from 800 to 1,000 ft. un the side of one of these ranges, and the seam has been followed down for about 400 ft. The seam ranges about 9 ft. in thickness. On this property there are three seams, one about 9 ft. in thickness, the second about 2 ft. in thickness, and the third about 10 ft. in thickness. Millions of tons of coal are actually in sight. The Govern- ment analyst in Hong Kong reports on the analysis of a sample of this coal that 100 parts contain 0*80 per cent, of moisture, 17-60 per cent, of ash, 20-70 per cent, of volatile combustible matter, and 60-90 per cent, of fixed carbon. The percentage of sulphur is placed at 1-2 per cent., and the calorific value is 12-830 British thermal units. The ash is grevish-white in colour. The coke is of hard behaviour when ignited, and burns with a fairly long flame. The matter of transportation has been one of the chief factors in opening such mines. The North River, where these coal seams are found, is too shallow for successful water transportation, and there is no economical means of transport at this time. It is anticipated, however, that the Canton-Hankow railway line will be completed to this district in about twu years at the present rate of progress—that is, it can be completed to that point in that time out of the earnings of the portions of the road alreadv completed and in operation. The completion of this line will not onlv immediately open up this coalfield, but it will also make other fields available for the Hong Kong coal market and for export. The immediate need of these fields at present is modern machinery and capital for develop- ment. The capital needed for the development of the pro- perty examined is placed at about 150,000 dols. gold, and anparentlv this may be taken as representative of various other fields. On the basis of this investment an output of 500 tons of coal per day is indicated. OBITUARY. News has been received that Corpl. George Hutchison, M.A., of the Cameron Highlanders, son of Mr. George Hutchison, colliery manager to Shotts Iron Company, has been killed in the trenches in France. Major John F. S. Lloyd, of the 6th North Staffordshire Regiment (T.F.), who has been killed in action, was a director of the Weldless Steel Tube Company, Birmingham. Sergt. Noel Duncan Braithwaite, of the 9th Manchester Regiment, who has been killed in the fighting at the Dardanelles, was head of the firm of Messrs. N. D. Braithwaite and Company, coal merchants, of Park-parade, Ashton-under-Lyne. Mr. Robert Brydon, who died on Monday last at his resi- dence, The Dene, Seaham Harbour, first went to that district about 40 years as veterinary surgeon to Lord Londonderry’s collieries and other works in Durham county. He afterwards became land agent for Lord Londonderry, and manager of his lordship’s stud farm for the breeding of agricultural horses and Shetland ponies for use in his lord- ship’s undertakings. He developed the Clydesdale horse remarkably, and the Londonderry stud attained wide renowm under his direction. Mr. Brydon, who was about 70 years of age, died very suddenly. He leaves a widow and twTo married daughters, one of whom is the wife of Mr. J. H. B. Forster, agent to the Weardale Steel, Coal and Coke Company Limited. Major William Archibald, R.E., 2nd Lowland Field Company (T.F.), who is reported to have died of wounds received while serving with the Mediterranean Expeditionary Force, was for many years with Messrs. Wm. Jacks and Company, iron ore merchants, of Glasgow. Lieut. M. H. Lewis, 4th Royal Scots Fusiliers (T.F.), who died on June 20 of wounds received at the Dardanelles, aged 24 years, was a draughtsman at Glengarnock Iron and Steel Works. Capt. Charles Alverey Grazebrook, King’s Royal Rifle Corps, who was previously reported wounded and missing, and now stated to have been killed in action, was the third son of Mr. Francis Grazebrook, of Himley House, Stafford- shire. Capt. and Adjt. the Hon. Claude Henry Meysey Meysey- Thompson, 3rd Rifle Brigade, whose death from wounds, received in action in the North of France, is officially announced, was the only son and heir of Lord Knaresborough, Kirby Hall, Yorkshire, director of the Barrow Haematite Steel Company Limited. Immingham Coal Exports. — Returns for week ended June 25 show that the coal exported from, Immingham totalled 6,008 tons foreign and 2,020 tons coastwise, against 45,733 tons foreign and 1,300 tons coastwise during the corresponding week last year. Shipments :—Foreign : To Buenos Ayres, 4,075; Harlingen, 788; Havre, 535; and Treport, 610 tons. Coastwise: To London, 1,800; and Ramsgate, 220 tons. The Steel Trust not a Trust.—The United States District Court, at Trenton, N.J., on June 3, handed down a unanimous decision refusing the petition of the Government to dissolve the United States Steel Corporation. As against the Government, the court refused to dissolve the corpora- tion, holding that in acquiring its foreign and home trade the concern did not violate the Sherman Anti-Trust Act. • As against the Steel Corporation, the court held that the com- mittee meetings participated in by 95 per cent, of the steel trade of the United States, including the Steel Corporation, subsequent to the famous Gary dinners of eight or nine years ago, were unlawful combinations to control prices; but as these meetings had stopped before the Government filed its complaint in October 1911, the judges held that there was no occasion for an injunction. A synopsis of the decision of Judge Buffington, the senior judge, prepared by direction of the court, states that “ the real test of monopoly is not the size of that which is acquired, but the trade power of that which is not acquired.” The court found nothing wrong in the Steel Corporation acquiring the Tennessee Coal and Iron Company during the 1907 financial panic. They held that the output of Tennessee at the time was only 1-7 per cent, of the country’s total output; that up to that time it had not been a business success; that its principal product—rails—was made at a loss: that its ultimate success was doubtful, and involved a further outlay of 25,000,000 dols., and that the purchase of the Tennessee property, as well as that of several other steel concerns earlier in the history of the big corporation, was made in fair business course, and was “ the honest exertion of one’s right to contract for one’s benefit, unaccompanied by a wrongful motive to injure others.” With regard to Andrew Carnegie, whom the Government charged was a party to the “ unlawful combination ” and ” took the bonds of the corporation with all the infirmities attaching to such participation,” the court found that there was no proof that he accepted any other relation in the formation of the Steel Corporation than that of seller of his stocks and bonds, and the court declared to be true Mr. Carnegie’s statement that he disposed of his interests in a desire to retire from the hazards and responsibilities of active business. Judge Buffington, in discussing the American trade of the corpora- tion, shows that 60 per cent, of the steel of the country is produced by the Steel Corporation’s competitors, and that in the 10 years since it was formed, -while its business had increased 40 per cent., that of eight other great steel com- panies had increased much faster. They were the Lacka- wanna Steel, which increased 63 per cent.; Republic, 90; Colorado Fuel, 152: Cambria, 155; Jones and Laughlin, 205; La Belle, 463: Indiana Steel, 1,495: and Bethlehem increased 3,779 per cent. With regard to the Government charges that the Steel Corporation had monopolistic control of ore resources, the court said that all the basic plants of the Steel Corporation were inland, and dependent on Lake Superior ores, while the Atlantic steel companies—Bethlehem, Pennsylvania, and Maryland — have unlimited supplies of Cuban and other ores at water freights. The court also says :—“ The proofs further show that with the enlarge- ment of the Erie Canal system. Lake Superior ore will be canal freighted from Buffalo to New York at 28c. a ton less than the same ore is rail freighted from Lake Erie to points in the Pittsburg district. With the enlargement of that canal, the proofs are that blastfurnaces are now planned for location on seaboard waters in New York harbour limits.”