78 THE COLLIERY GUARDIAN July 9, 1915. <£105 per ton, with the result that 24-gauge corrugateds cannot be obtained at less than <£22 10s. Welsh pig iron shows no change at 105s. to 107s. 6d. per ton delivered. The iron ore market is about the same as last week, best rubio being 24s. 6d. to 25s., and seconds 21s. 6d. to 22s. 6d. In scrap metals a moderate amount of business is being done in the way of obtaining material for the munition factories. Steel scrap is 75s., heavy wrought 68s., double-headed steel rails 80s., iron ditto 80s., mixed sections 72s. 6d., light wrought 40s., cast 60s. to 62s. 6d., and new steel crop ends 84s. As the result of the audit of the books of the Associated Iron and Steel Employers, the wages of the men during the ensuing quarter have been advanced 71 per cent. Swansea. COAL. The trade of the port last week was rather quiet, there being less activity in both the coal and patent fuel trades. The shipments together amounted to 90,051 tons. A capital attendance assembled on ’Change this morning, and the undertone of the anthracite coal market continued very strong ; quotations for all descriptions were harder. There was a brisk enquiry for Swansea Valley large, and prices were again advanced, whilst Red Vein large was also moving upward. Machine-made nuts and cobbles were, to all intents and purposes, unobtainable, even at the very high prices ruling. In the case of French nuts there was an appreciable advance in price. Bubbly culm and duff were without any movement. In the steam coal market the demand had fallen off considerably, and a weaker feeling was in evidence. Prices f.o.b. (cash in 30 days). Current L’st week’s Last year’s Anthracite:— prices. prices. prices. Best malting large (hand picked) (net)... 23/6-25/6 22/6-24/6 21/ -23/ Secondary do. 22/6-23/6 21/6-22/6 17/ -18/ Big Vein large (less 2| per cent.) 19/6-22/6 18/6-21/6 15/ -16/ Red Vein large do. ... 18/3-19/ 17/9-18/9 12/6-13/ Machine - made cobbles (net) 28/6-32/ 28/6-31/ 21/ -22/6 Paris nuts (net) — — — French do. do 32/ -35/ 29/ -32/ 21/9-23/6 Stove do. do 30/6-33/6 28/6-30/6 21/9-23/6 Beans (net) 24/6-32/ 24/6-25/6 15/6-17/ Machine - made large peas (net) 17/6-19/6 17/ -18/6 11/ -12/ Do. fine peas (net) — — — Rubbly culm (less 2|p.c.) 11/ -11/9 6/6- 6/9 •11/ -11/9 6/ - 6/3 Duff (net) 6/6- 6/9 3/9- 4/3 Steam coals:— Best large (less 2| p.c.) 27/ -29/ 27/ -29/ 18/6-20/ Seconds do. 23/ -25/6 23/ -25/6 13/6-15/6 Bunkers (net) 17/6-20/6 17/6-20/6 10/6—11/9 Small (less 2| p.c.) 13/6-15/6 13/6-15/6 8/6- 9/6 Bituminous coals:— No. 3 Rhondda— Large (less 2| p.c.) ... 26/ -29/ 26/ -29/ 17/ -18/ Through-and-through (less 2| p.c.) — — — Small (less 2| p.c.) ... 19/6-21/ 19/6-21/ 11/ -12/ Patent fuel do 30/ -32/ 30/ -32/ 17/ -18/ Llanelly. GOAL. The coal market of this district has undergone many changes during the past two or three months. Only a few weeks back it was almost impossible to secure even spot lots of steam and bituminous coals, and prices paid were exceedingly high, but at the moment collieries are very glad to obtain orders at many shillings per ton less, and in order to have wagons released and keep collieries going they will not refuse any favourable offer. There are many who seem to think this is but a temporary slump, but unless the Government grant more licences it is very possible that the position will become still more unsatis- factory. For anthracite coals, on the other hand, a change has taken place for the better, and for practically every kind. Orders received are quite sufficient to take the make, whilst for some sorts, more particularly the machine-made qualities, there is quite a scarcity, and collieries are fully sold for some time to come. This week's quotations approximately are:— Prices f.o.b. Anthracite:— Best malting large... Secondary do. ....... Big Vein large....... Red Vein do.......... Machine-made cobbles... German nuts.......... French do............ Paris do............. Machine-made beans ... Do. peas......... Culm ................ Duff................. Other sorts:— Large steam coal..... Through-and-through... Small ............... Bituminous small coal... Current prices. 22/ -24/ 20/ -21/ 19/ -22/ 18/ -20/ 28/6-31/ 30/ -33/ 32/ -34/ 31/ -33/ 23/ -25/ 18/ -19/6 11/6-12/ 6/ - 7/ Last year’s L’st week’s prices. 22/ -24/ 19/ -20/ 18/ -19/ 17/ -18/6 28/ -30/ 25/ -28/ 28'/ —32/ 28/ -31/ 23/ -25/ 16/6-17/6 11/6-12/6 6/6- 7/6 prices. 20/ -22/ 19/ -21/ 16/ -17/ ’ 12/6-13/ 19/ -21/ 20/ -22/ 20/ -22/ 20/ -22/ 16/ —20/ 11/6-12/6 6/ - 6/6 4/6- 6/ 28/ -30/ 17/ -20/ 16/ -18/ 20/ -21/ 26/ -29/ 16/ -17/ 18/ -20/ 11/ -11/6 17/ -18/ I 8/6- 9/ 20/ -21/6 10/6-11/ Partnerships Dissolved.—The London Gazette announces the dissolution of the following partnerships :—J. Grisdale and A. Brown, engineers, plumbers, brass founders, and copper and tin smiths, at Wood-street, Victoria Docks, Essex, under the style of A. and J. Thomson; E. Jones and LI. Roberts, coal dealers, at Deganwy, Carnarvon, under the style of Jones and Roberts; A. A. Kay, G. H. S. Carter, and C. E. Carter, electrical and mechanical engineers, at Ecclesfield Works, Ecclesfield, York, under the style of Kay and Company; W. Farrar and S. Young, engineers, mill- wrights, machine makers, and machine dealers, at Paragon Engineering Works, Bramley, Leeds, under the firm name of Farrar and Young, so far as concerns S. Young; A. Mawson and H. S. Whitfield, managing shipowners, ship- brokers, and export merchants, at Atlantic-buildings, Cardiff, under the style of Arthur Mawson and Company. THE BY-PRODUCTS TRADE. Tar Products.—The market is somewhat variable. Benzols continue firm, and there has been a marked advance in naphthas, particularly in crude. Creosote and crude carbolics, however, are the turn easier. Pitch holds steady, and is hardening on the east coast, but tar has gone back considerably. Nearest values are:— Rise( + )or fall (-) on the week. Benzols, 90’s .................... /Il—1/ ... — „ 90’s North .............. /lOJ—/Il ... — 50’s „ ............. 1/3—1/4 ... — Toluol .............................. 2/4 ... — Carbolic acid, crude (60 per cent.)... 3/6 ... —/I ,, crystals (40 per cent.) 1/4—1/6 ... — Solvent naphtha - (as in quality and package) ............................. 2/1—2/2 ... + /1 Crude naphtha (in bulk) ............. /6—/6f ... + /0J Creosote (for ordinary qualities) ... /3—/3| ... —/0| Pitch (f.o.b.) east coast) .......... 22/—23/ ... +1/ ,, (f.a.s. west coast) ......... 20/—23/6 ... — Tar ................................... 21/5—25/6 ... -1/6 [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 marked firmness about the market generally, and particularly so in the North. Not only are prices very firm for forward delivery, but prompt prices have also hardened substantially. There is nothing surprising in this, albeit nitrate of soda continues weak. Closing prompt prices are :— Rise (+) or fall(-) on the week. London (ordinary makes) , £14/5 ... +2/6 Beckton £13/17/6 ... +7/6 Liverpool ................ £14/10—£14/12/6 ... +7/6 Hull ..................... £14/10 ... +10/ Middlesbrough £14/2/6 ... +2/6 Scotch ports £15 ... +7/6 Wales £14 ... +2/6 Nitrate of soda (ord.) per cwt. 12/ ... — [Sulphate of ammonia, f.o.b. in bags, less 2| per cent, discount; 24 per cent, ammonia, good grey quality; allowance for refraction, nothing for excess.] Trade Notes. There is no doubt about Spain being fully alive to the importance of her new Catalonian potash deposits, and what is more, she evidently intends to ensure to herself a sufficiency for her own needs, not only in regard to potash, but also touching all minerals that may be serviceable for the manu- facture of artificials, or directly applicable as manures. She is willing enough to grant concessions for their exploitation, but only on certain terms, which specify that working is to be continuous (unless it can be proved that the working is unprofitable); and even then, the Government have a prior lien on the output to an amount to be determined by the authorities before exportation is permissible. It is a line of procedure that has its lessons for us in more directions than one concerning the coal, iron and by-products industries. Certificates of origin for Russian imports are being modu- lated, as far as allied countries are concerned, and in future no certificates at all will be required for liquid naphtha distillates, vitriol and raw Chilian nitrate of soda. There are further rumours about Goverment control of the nitrate industry of Chili. This time it is to be an all- embracing company affecting producers and exporters alike, and permitting a reduction of the export tax, wherby it is believed the company would be able to “ maintain a standard price for nitrate.” Better organisation in the producing and selling branches is to be aimed at, in the hope of selling nitrate in a widened market at a reduced cost. That does not necessarily mean a lower price to the user. Incidentally, the promoters of this idea seem to have an eye on America as a possible consumer of a million tons of nitrate per annum. This would mean keener competition for sulphate of ammonia in that market. Still, this sort of “ fathering ” has often been projected for the control of the nitrate industry, but up to now the crux has always been the difficulty of finance. There is little to be gained by robbing Peter to pay Paul. The scheme for the control of the manufacture of nitro- genous fertilisers by the German Government is not only distasteful to German producers, but, as might be expected, there seems to be an ulterior motive behind the avowed desire to make Germany’s internal needs secure. There can be little doubt that the real incentive is the chance of enriching the Treasury by fixing a price and controlling the sale of these products, and so killing all competition, and, in fact, obliterating the “ market ” entirely. Moreover, knowing what we do of German commercial methods, there is room for serious apprehensions concerning the possible effect on our own markets. There is not the slightest doubt that manufacturers of sulphate of ammonia should bestir themselves to consolidate their energies, and to take all pos- sible precautions to strengthen our foreign markets and international relations in the matter of sulphate of ammonia supply. The spirit of unrest in this matter is confirmed by the financial returns of the German chemical trade. No less than 11 of the largest chemical concerns show a falling-off in profits, and substantially decreased dividends; while two others have not been able to make any distribution at all. Only two managed to maintain their dividends, and one of these was the Greisheim-Elektron, and, in the face of the complaints lodged by German producers against the Government’s scheme (Colliery Guardian, June 4, 1915), this success is comprehensible verb. sap. sat. The returns for the week are :—Pitch 2,428 tons, £22; tar 42,832 gals., 10 tons, 5 casks, 16 barrels, and £24; benzol 11 drums to Genoa and 180 drums to Dieppe; sulphate of ammonia 2,740 tons. The South Yorkshire Bar Iron Association has decided to abolish the custom of giving cash discounts on bar iron. The association’s basis price of “ Crown ” bars now is £11 per ton, delivered, net cash monthly. The law prohibiting the ownership of lake steamers by American • railroads will compel the removal of a large pro- portion of the ships now operating on the Great Lakes to coastwise trade. Before the close of navigation on December 1 of this year many steamers now in use will be cut in two, and transferred to the Atlantic shore through the Welland Canal. Thirty-one of the 54 steamers now operating by railroads will be withdrawn from lake traffic before the decision of the Commerce Commission goes into effect. The total value of the ships thus removed will reach £2,000,000. THE LONDON COAL TRADE. Thursday, July 8. The London coal trade, notwithstanding the hot weather, continues brisk. Since the turn of the month, however, the demand for house coal has not been quite so strong, especially for the better class of Silkstone coal. The Derby brights qualities are still in good demand, although only a moderate amount of business is recorded. The output continues small, and when the weekly quantity bought under contract has been invoiced or mapped out, the available quantity for the open market is unusually small. The attendance on the Exchange has been fairly good, and whenever favourable terms are obtainable the buyers are keen. Only a moderate business, however, has been done, as the collieries are very restricted in their offers. Derby brights and kitchener cobbles are the ruling favourites, and the demand for these two qualities far outweighs the supply. The wharves and depots, however, are becoming somewhat heavily congested, as the actual consumption of household coal is so small. The merchants, however, report a good number of orders from the general public, and this keeps the delivery trade busy, although it is largely stocking the cellars in readiness for the winter’s supply. The railway companies are also bringing forward the loaded wagons with greater regularity and promptness, and empties also are returned much quicker than in former months. In some cases, collieries are com- plaining of an abundance of private and railway wagons, which are crippling the working of the ordinary colliery wagons. The new contract prices are ruling from July 1, and already the pressure for the contract quantities has shown an appreciable falling off. In the manufacturing qualities the demand continues good, and whilst the factories along the Thames side are working so vigorously, there seems little prospect of any falling off in this respect. Small nuts and slacks have continued fairly strong, but the enquiries are diminishing, and in many cases prices have fallen 6d. to Is. per ton. Bakers’ nuts are selling freely. The seaborne market is well supplied; 38 contract cargoes arrived in the River Thames for Monday’s market, and 10 for Wednesday. No quotations are given, and beyond a few boatloads of Yorkshire coal for the open market, all the rest are contract cargoes. The South Wales qualities show an improvement in the export prospects, and the demand for the qualities not required for Government use is stated to be better. The temporary stoppage at some of the collieries last week tended largely towards clearing up all stocks on hand, and the market has since been firm, but in the Tyne the progress is slow, on account of the difficulty in securing the necessary licences for neutral ports. The Allies naturally have the first refusal, but many of the neutral ports are known to be short of fuel. Yorkshire hard steams are quoted at 18s. 6d. to 18s. 9d. f.o.b. in the Humber ports, but the best qualities range from 20s. to 20s. 6d. f.o.b. Derbyshire steam coals are quoted at 18s. to 18s. 6d. Shipments of small coal to France, especially from Cardiff, are increasing, and prices are hardening. Freights are reasonably low, and during the week have been fairly active. From the Tyne to London 7s. 6d. has been secured, but the Mediterranean trade has been very slow. There is, however, a good enquiry for the coasting business. The Metropolitan Water Board, whose contracts were settled some two months ago, are now pressing for the bulk of the coal bought to be delivered during the three months, July, August and September. As a rule, at this season of the year, collieries have huge stocks of loaded wagons, and the house coal market is very weak, but at the present moment there are no stocks at any of the collieries, and merchants are willingly paying the advanced price of 5s. to 6s. per ton in order to get a sufficient supply. The public also are apparently preparing to lay in heavy stocks, and have given their orders early in May and June, rather than wait until the usual stocking time. August and September. A comparison of last year’s quotations with the present time, so far as pit prices are concerned, is given below :— July 1914. July 1915. s. d. s. d. s. d. Silkstone coal .... 12 0 .. . 17 6 to 18 0 Derby brights .... 11 0 .. . 16 6 ,, 17 0 House nuts .... 10 6 .. . 15 6 ,, 16 0 D.S. nuts .... 9 0 .. . 15 0 „ 16 0 Nutty slacks .... 6 6 .. . 11 0 „ 12 0 The iron and steel markets are exceedingly buoyant, and this invariably is a true index to the coal trade returns. Whilst the household market is somewhat dull, the steam coal market is very brisk. Durham coals are coming forward freely to London and to French ports. Tyne gas coals are fetching 20s. f.o.b., and seconds 18s. 6d. Gas coke is very ^scarce, and the prices range from 24s. to 26s. in London. The Christiania Gas Company are asking for tenders for about 20,000 tons of Durham gas coal. In the Welsh market ordinary steams are quoted at 26s. to 27s. f.o.b., Black Veins 26s., western valleys 25s., and eastern valleys 22s. No further developments have yet been received in connection with the Government enquiry into the selling price of coal, or its attempt to regulate the prices. The 4s. 3d. suggested advance on the prices ruling in the 12 months before war was declared is practically what has been already settled for the current year, for the actual contract prices were all reduced 6d. to 9d. per ton for 1915 just prior to the war breaking out, and the then contract prices were lowered accordingly, so that 5s. increase now on the prices in force prior to the war will be correct. The bulk of the annual contracts are now settled on these lines, and practically the whole of the winter’s coal has been sold. Merchants and consumers are apparently willing to pay even more than the 5s. increase to secure the coal, and very little remains now to be done but to send the coal along. From Messrs. Dinham, Fawcus and Co.’s Report. Friday, July 2.—There was no alteration in the seaborne house coal market to-day, which remained very quiet, only small quantities of second-class Yorkshire in craft disposed of, but prices not quoted. Cargoes 24. Monday, July 5.—The seaborne house coal market con- tinued steady to-day, with no cargoes on offer. Cargoes 38. Wednesday, July 7.—The seaborne house coal market was somewhat steady to-day—no Durham or Yorkshire cargoes obtainable. Cargoes 12. Immingham Coal Exports. — Returns for week ending July 2 show that the coal, exported from Immingham con- sisted of the following :—Foreign : To Dieppe, 1,832 tons; and Treport, 752—making a total of 2,584 tons foreign, against 26,877 tons foreign and 6,129 tons coastwise during the corresponding week last year.