174 THE COLLIERY GUARDIAN July 23, 1915. probity and policy, but it is very necessary that it should not in itself encourage dishonest or equivocal practices that in the end cannot fail to prejudice the national interest. PRICE OF COAL BILL IN COMMITTEE. Last night the House of Commons went into Committee on the Price of Coal (Limitation) Bill. On clause 1, Sir A. Markham moved an amendment providing that the basis of calculation for adding the extra 4s. per ton should be not the price of coal of the same description on the corresponding date in 1914, but the “ average prices realised by rail, inland water, or land sale, respectively, for coal of the same description at the pit’s mouth at the same coal mine.” Under his proposal, the collieries would have to issue price lists, and every coal owner and buyer would know how he stood. When the coal owners discussed the matter they were divided on the clause. Otherwise, the coal owner would be able to arrange his sales from day to day, always taking advantage of the prices on the corresponding day last year. — Mr. Runciman admitted that there was a sharp division among the coal owners as to the way in which they would prefer the price to be calculated. At one of the interviews he had with the representatives of the Mining Association, they told him they would prefer the average as the hon. baronet suggested. He (Mr. Runciman) considered the proposal, and found that it raised considerable departmental difficulties. Moreover, he was not quite sure that the amendment would achieve the end in view. To have to deal with so large a number of returns as would be necessary if the amendment were accepted would enormously add to the difficulties of the Board of Trade, and, therefore, on the principle of what was best all round, he thought it better to adhere to the proposals con- tained in the Bill.—The amendment was negatived without a division.—On a later amendment, Mr. Runciman explained that the Bill was not a measure attempting to fix prices for various qualities of coal under various conditions. All it attempted to do was to prevent panic prices. — Sir A. Markham, however, contended that in practice the Bill would fix the price for each quality of coal.—Mr. Anderson moved an amendment to reduce the standard from 4s. to 3s.—Sir A. Markham said, taking the house coal collieries throughout the Federated area, he did not think the increase in cost would be more than Is. 6d. to 2s. per ton. When they came to Wales, however, if they fixed the price at 3s., that would not cover the increased price of wages and timber, and, there- fore, he did not think the figures of 4s. was unreasonable. —Mr. Runciman feared that in many cases the increased cost of getting coal had been considerably more than 3s.—On a division the amendment was rejected by 77 votes against 33. —A discussion then took place on an amendment moved by Mr. Goldstone, to bring existing contracts within the opera- tion of the clause.—Sir 0. Cory contended that if the Govern- ment dealt with contracts which were higher than the lawful price, they ought also to deal with contracts which were lower.—'Mr. Pretyman (Parliamentary Secretary to the Board. of Trade) said they had reluctantly to come to the conclusion that they must confine their scheme to one for preventing panic prices, and not make it one which would bring war prices down to something approximating peace prices.—Mr. Mackinder declared that the delay that had occurred would cost Glasgow £'70,000.—Sir E. Cornwall hoped some compro- mise would be made. — Sir A. Markham said that if the amendment was not accepted the Bill would not be worth having. — Mr. Runciman said he understood that a large number of local authorities had been squeezed in Scotland, as well as in England. How large the number was he could not say, but there appeared to have been a good deal of exaggeration about the extent to which the relief that could be given by turning this into a delivery and not into a sales Bill would be likely to confer upon local authorities. His information was that although a good many local authorities had made their contracts, there were also a very large number who had refrained. Many bold things had been done during the war, but he knew of none as bold as the tearing up of commercial undertakings that had been deliberately entered into. It would be to confer upon some business men benefits of which others were deprived. The 2s. benefit would be taken away from the coal producers and miners and made a gift of to certain merchants. The delay had been due to the consideration that before doing anything as drastic as was now proposed, it was essential to wait until there was some- thing like equilibrium in the coal trade. He was reluctant to introduce the Bill when labour troubles were unsettled and negotiations were proceeding, for during these negotiations the measure would have been a most disturbing factor. An appeal had been made to the House on behalf of the London consumer, and the question had been asked what the price of coal was likely to be in the coming winter. He could not prophesy that. He questioned whether they would benefit the London consumer very much by tearing up the contracts. The amendment would not of itself get rid of the sliding scale system. The Committee had been much impressed by the special case of Glasgow, and it was one which the Govern- ment were bound to consider. He therefore recommended the withdrawal of the amendment, and then the Government, before the Report stage, would endeavour to meet the case of local authorities and of public utility companies.—After some further discussion ’the amendment was negatived. THE LONDON COAL TRADE. Thursday, July 22. The London coal trade for the past week has been con- siderably affected by the uncertainty as to the full meaning of the Coal Price (Limitation) Bill, and also by the unfor- tunate strike in the Welsh district, and during the whole of the week the merchants and factors have been holding their hands from buying, and allowing the colliery representatives a respite from booking further orders. The undertone of the market, however, remains firm, and the coal coming for- ward has been readily taken and apparently easily disposed of. The output is not diminished except in cases where empties have not -arrived in sufficient numbers to keep the pit going. Certain districts have suffered in this respect, but, on the other hand, many collieries are still overdone with private wagons and their own colliery empties. The difficulty in Wales seems to have been satisfactorily cleared up, but supplies have not yet been resumed as far as London is con- cerned. The Coal Price (Limitation) Bill is still a source of considerable discussion, and. although in several quarters there is strong feeling that prices may be limited in the near future, it is recognised on all sides that contracts already made (and by far the greater proportions of the coming year’s arrangements are all fixed up by or before the end of June) will be allowed to stand, and these are all based upon the 5s. advance on last year’s contract price. The new Bill provides for a 4s. advance on the prices of contracts terminating in June 1914, and as these contract rates were all 6d. to 9d. per ton higher than 1915, there is a very slight difference between the present proposal and what has been already agreed to. In the delivery trade the increased cost is even more pronounced, for whilst the merchant is called upon to pay the higher price for the coal at the pit’s mouth, the local charges for loading up and cartage, together with the increase in wagon hire and the shortage of men and increased wages, has necessitated a much wider difference than the probable lines suggested by the Bill. The selling price is, after all, more a question of supply and demand, and those who are leaving their supplies until later are running a terrible risk in finding themselves left out in the cold when the demand is strongest. Hard steam coals are still moving freely. The week’s stoppage in South Wales has naturally tended to bolster up prices. Small nuts and slacks have been very disappointing. A large number of the principal elec- trical works have stopped supplies, apparently with a view to wait until the new7 Bill is more clearly understood and explained; but in the meantime stocks are becoming low, and collieries show no sign of accepting lower prices. In the house coal market the lessened “ buying ” has enabled the collieries to overtake the vast number of orders on hand, and to clear up many back orders. In the freight market there is very little change. The rate from the Tyne to London is quoted at 7s. 3d. The North French ports from both the Humber ports and from the Tyne continues in steady charter- ing, and the enquiries are increasing. In the Humber dis- trict the effects of the refusal to grant so many licences to export cargoes to neutral ports has weakened the demand for hard steam coal, and South Yorkshire hards have been offering at a slightly lower figure, 19s. to 19s. 6d. per ton f.o.b., and Derbyshire hard steam at 18s. to 18s. 6d. per ton f.o.b. Hartleys are offering at 17s. 6d. to 18s. per ton f.o.b. Gas coals are firm and steady, and a fairly good export business is reported. In the Tyne district the stoppage of the South Wales miners has not had such an effect on the coal supplies as was at first expected. The time is hardly sufficient for the diverted steamers to have any appreciable effect yet upon this market. Best Blyth steams are selling at 22s. per ton f.o.b., and Tyne prime steams at 20s. Tyne gas coal is steady, at 20s. to 21s. per ton f.o.b., and seconds 17s. Coke both for foundry use and gas coke is in good request. The number of steamers entering the Port of London for Monday’s market was 32, but all were contract cargoes; and 14 were shown on Wednesday. The six days in which the collieries have been at a standstill in South Wales has meant a loss of over 750,000 tons of coal, besides which several workshops have been obliged to close. The Admiralty laid hands upon all the smokeless steam coal for the Fleet, and directly the strike began every ton of coal suitable for Naval purposes, whether in the vessels or at the docks, was commandeered, and not even bunker coal was allowed to be used without official permission. Happily, however, the difficulty is now at an end. Meanwhile heavy bookings are reported for steam coal on Government account from Newcastle. The attend- ance on ’Change has been very small during the week, evidencing the uncertainty of purchasing house coal. The London Coal Merchants’ Society and other branches of the coal trade are negotiating with the Government, and it is thought that some distinct pronouncement will shortly be made both as to current prices, and also for contract. Very little coal has come forward into the Thames from Yorkshire. Yorkshire hards by rail are quoted at 17s. to 17s. 6d. per ton at pit, Derbyshire hards at 16s. 6d. to 17s., and Derby brights at 16s. 6d. to 17s. fid. From Messrs. Dinham, Fawcus and Co.’s Report. Friday, July 16.—The seaborne house coal market was steady to-day, with no cargoes offering. Cargoes, 27. Monday, July 19.—The seaborne house coal market con- tinued steady to-day, but no cargoes of Yorkshire house on offer. Cargoes, 32. Wednesday, July 21.—The seaborne house coal market remained steady to-day, but no business reported. Cargoes, 14. Messrs. John Davis and Son (Derby) Limited inform us that their governing director, Mr. Henry Davis, is acting as chairman of the Derbyshire National Shell Factory. London’s retail coal supply was discussed at a conference of Metropolitan Borough Councils, held at the Hackney Town Hall on Wednesday. The conference affirmed that no remedial legislative measures adopted by the Govern- ment would be complete unless they secured the consumer immunity from inflated prices and the distress consequent thereon. It was further resolved that borough councils should, as far as possible, use their municipal credit to secure for their localities an adequate supply of household coal at the lowest possible price. Mr. A. W. Payne (Hackney), the mover, suggested that the councils should buy coal in large quantities and arrange with the trolley men and small vendors for its distribution. Another resolution, also moved by Mr. A. W. Payne, urging that the borough councils should arrange with traders and other agencies in their localities engaged in supplying small consumers to sell coal during the winter at prices and under conditions to be fixed in consultations with the councils was adopted. The Board of Trade, it was agreed, should be urged themselves, or through the borough councils, to advertise from time to time the price at which coal should be retailed. In supporting a resolution (which was carried) to the effect that the retail distribution of coal should be co-ordinated by the Government, Mr. Wayland suggested that the Government should appeal to the patriotism of the merchants in London to induce them to unify their efforts in distri- buting the coal. With competition eliminated and improved organisation the price should be brought to where it was before the war. THE COAL AND IRON TRADES. Thursday, July 22. Scotland.—Western District. COAL. Owing partly to the advent of the holidays, business in the west of Scotland has shown increasing activity during the past week, and values are again harder. Best splints are in a more satisfactory position, and it is reported con- siderable orders have been received for this class of coal at higher prices. Ells, too, are well sold, but quotations are unchanged. Navigations are fully contracted for, and have very little available coal, while prices quoted are round about 21s. to 23s. 6d. per ton. Ordinary steams, on the other hand, are plentiful, and rates easier. Smalls of all sizes are active, particularly treble nuts. The shortage of miners is felt at practically all the collieries, and is affecting the weekly returns. Shipments from the district during the week amounted to 119,609 tons, compared with 132,301 in the preceding week and 130,071 tons in the same week last year. Prices f.o.b. Glasgow. Current L’st week’s! Last year’s prices. prices. prices. Steam coal 14/ -17/6 14/ -16/9- 11/3-13/a Ell 15/9 15/3-15/6 12/ -12/6 Splint ; 15/9-16/9 15/ -19/ 12/ -13/ Treble nuts 17/6-18/ 16/9-17/3 12/ -12/3 Double do 16/6-16/9 16/ -16/6 11/6-11/9 Single do 16/3-16/6 16/3-16/6 11/ -11/3 IRON. No change of importance is reported in the Scotch iron trade. Pig iron remains strong with a good demand on home account, but the export trade is far from satisfactory. The number of furnaces in blast in Scotland at present is 67, four fewer than a week ago, and three more than at this time last year. The total shipments since January 1 amount to 89,323 tons, a decrease of 35,561 tons compared with the same period in 1914. The prices of Scotch makers’ iron are unchanged, and are quoted as follow :—Monkland, f.a.s. at Glasgow, No. 1, 80s. 6d., No. 3, 79s.; Govan, No. 1, 79s., No. 3, 77s. 6d.; Carnbroe, No. 1, 83s., No. 3? 79s.; Clyde, No. 1, 85s. 6d., No. 3, 80s. 6d.; Gartsherrie, Summerlee, Calder and Langloan, Nos. 1, 85s., Nos. 3, 80s. ; Glengarnock, at Ardrossan, No. 1, 86s., No. 3, 81s.; Eglinton, at Ardrossan or Troon, No. 1, 80s., No. 3, 79s.; Dalmellington, at Ayr, No. 1, 81s., No. 3, 79s.; Shotts, at Leith, No. 1, 85s., Nq. 3, 80s.; Carron, at Leith, No. 1, 86s., No. 3, 81s. per ton. The pig iron warrant market has been quiet and rather irregular during the past week. Business was done down to 66s. 9d. cash, and a subsequent full recovery was followed by a reaction to 67s. per ton cash buyers, showing a loss of 6d. per ton on the week. The total turnover was about 12,000 tons. Stocks now stand at 146,233 tons, compared with 81,388 tons at this time last year. Manufacturers of finished iron continue very busy in all departments. Black sheet makers have a large number of orders on hand for the heavier sizes, and are finding some difficulty in fulfilling orders within the stipulated time. Malleable iron makers are also extremely active, and they have more work on hand than can be conveniently executed, and deliveries are falling into arrears. Iron and steel tube makers are now in a better position. A large business is being done on Govern- ment account, while the export trade shows signs of an early improvement. Scotland.—Eastern District. COAL. There is no change of importance to report in the Lothians coal trade. Collieries find themselves in an awkward posi- tion as regards early loading due to the licensing difficulty, and conditions are none too brisk. Shipments amounted to 50,994 tons, against 41,566 in the previous week, and 103,554 tons in the corresponding week last year. Prices f.o.b. Leith. Best screened steam coal... Secondary qualities..... Treble nuts ............ Double do.............. Single do.............. Current I L’st week’s 'Last year’s prices. | prices. prices. 15/ -15/6 ' 15/ 1 12/ -12/6 14/3-14/9 ! 14/ -14/3 | 11/ -11/6 17/6-18/6 , 16/6-18/ ; 12/ -12/6 16/6-17/6 . 16/ -16/6 11/3-11/9 16/6-17/ | 16/ -16/3 J 11/ -11/3 Business in Fifeshire is far from satisfactory. Collieries report a lack of orders for steams, both first and third class, and values are weaker. Navigations are the best feature, and are well booked at firm rates. Shipments totalled 59,716 tons, against 71,537 in the preceding week and 123,329 tons in the same week last year. Prices f.o.b. Methil or Burntisland. Best screened navigation coal Unscreened do First-class steam coal Third-class do Treble nuts Double do Single do Current prices. ! 24/ -25/ i22/ -23/ 18/ -20/ 13/9-14/ 17/6-18/6 16/ -17/ 16/ -16/6 L’st week’s prices. 24/ -25/ 22/ -23/ 17/9-20/ 13/9-16/ 17/6-18/6 | 16/ -17/6 ; 16/6-17/ Lastyear’s prices. 16/ -16/6 14/6 12/ -13/ 10/ -10/3 12/ -12/6 11/3—11/9 10/9-11/ The aggregate shipments from Scottish ports during the past week amounted to 230,319 tons, compared with 245,404 in the preceding week, and 356,954 tons in the corre- sponding week of last year.