532 __________________________________________________________________________________________________________ THE COLLIERY GUARDIAN September 10, 1915. price of best coals at the pit had remained at 30s. per ton; invoices which have been sent out this week indicate that the owners have reduced their quotation to 23s. for best qualities, and Is. less for secondary grades. In Rhondda bituminous coals there is little doing, No. 3 large being quoted at 25s., through 23s. to 24s., and small 22s. to 23s. No. 2 large is 20s., through 18s., and small 16s. Patent fuel is again slightly easier owing to the drop in small coals, and the current rates of the best qualities are now on the basis of 33s. to 34s., second qualities 3is. to 32s. It is reported that several contracts for next year have been fixed at 29s. to 30s. Shipments last week were rather below the average, but Swansea despatched 11,375 tons, and the Crown Company 15,601 tons. Pitwood is rather firmer, best French fir realising 32s. to 33s. IRON. The tin-plate trade is quiet, and were it not for the fact that some of the works are engaged on Government con- tracts, it is probable that many mills would have to close down. American competition is being keenly felt, especially in South America and the Far East, and should the war be a prolonged one, there is a prospect of the South Wales markets being very seriously interfered with. Shipments last week amounted to only 37,855 boxes, compared with 69,680 boxes received from works, and leaving 318,241 boxes in stock in docks warehouses and vans. Prices remain steady, Bessemer standard cokes being 18s. to 18s. 3d., and oil sizes 18s. 6d. to 18s. 9d. and 26s. 9d. respectively. Pig iron is rather easier, and is now quoted at 103s. 6d. delivered. The demand for steel bars is not so insistent as it was a few weeks ago, and Siemens qualities are now quoted at and Bessemer bars at £7 2s. 6d. There is no improve- ment in the galvanised sheet trade, and some makers are seriously considering the problem as to whether they should close their works until better times arrive. There is a dearth of new orders, and some of the mills are only working on short time. For 24-gauge corrugateds the price remains <£17 to£17 10s., and there is not much prospect of early relief until spelter, which is now selling at £74 per ton, is capable of further reduction. Rail mills are only fairly occupied, and it is reported that two very large orders on Russian account have been placed in America, owing to the exceedingly high cost of produc- tion in this country at the present time. Scrap metals are quiet, and there is practically no alteration in quotations. The iron ore market is rather easier, best rubio being obtainable at 23s. to 24s., and second grades at 20s. 6d. to 21s. the past two or three months 7s. and 8s. per ton, and even at the lower figures it is really difficult to keep collieries at work. There is a fair enquiry for small coal from the manufacturing works, but the prices received are not very satisfactory. This week’s quotations approximately are:— Prices f.o.b. ___________ Current Anthracite:— prices. Best malting large.... 27/ -29/ Secondary do. .... 26/ -28/ Big Vein large........ 28/ -32/ Red Vein do......... 23/ -25/ Machine-made cobbles... 35/ • -40/ German nuts......... 38/ -40/ French do........... 39/ -41/ Paris do........... 38/ -40/ Machine-made beans ... 26/ -29/ Do. peas.... 18/ -19/6 ................. Culm ............... 12/ -12/6 Duff.................. 5/6- 6/6 Other sorts :— ! Large steam coal...... 26/ -28/ Through-and-through... 17/ -18/ Small ............... 121 -14/ Bituminous small coal... 18/ -20/ L’st week’s Last year’s prices. prices. 27/ -29/ 21/ -23/ 26/ -28/ 19/ -21/ 28/ -32/ 16/ -18/ 23/ -25/ 13/6-14/ 35/ -40/ ' 20/ -22/ 38/ -40/ 21/ -23/ 39/ -41/ . 21/ -23/ 38/ -40/ , 21/ -23/ 26/ -29/ 20/ -22/ 18/ -19/6 13/6-14/6 12/ -12/6 6/ - 6/3 6/6- 7/6 . 3/9- 5/6 27/ -29/ : 16/ -18/ 18/ -20/ 11/ -11/6 14/ -16/ 8.6- 9,6 19/ -21/ 11/ -11/6 __________________ THE BY-PRODUCTS TRADE. Tar Products.—The market, generally speaking, is firm, and prices unchanged, but an exception must be made in the case of pitch, which is rather erratic, though at the present moment the movement is in favour of sellers. Nearest values are :— Swansea. COAL. There was a slight decrease in the returns of the trade of the port, but an increased shipment of coal. Patent fuel exports were again much under the average. The ship- ments of coal and patent fuel amount to 93,047 tons. There was a good attendance on ’Change, and anthracite coals continue to display a very strong tone. All classes of large were very firm, whilst machine-made nuts and cobbles were to all intents and purposes unobtainable. Rubbly culm was again steady, but duff was weaker ; in steam coals there was an easy tendency. Dry large was, however, very strong. Prices are all net f.o.b. (cash in 30 days). Rise (+) or fall (-) on the week. Benzols, 90’s ...................... l/0£—1/1 ... — ,, 90’s North ............... /11J ... — ,, 50’s „ ............... 1/4 ... — Toluol ............................. 2/2—2/4 ... — Carbolic acid, crude (60 per cent.)... 3/6 ... — ,, crystals (40 per cent.) 1/4—1/6 ... — Solvent naphtha, south (90% at 190 degs.), as in quality and package 2/—2/1 ... — Solvent naphtha, north (90% at 190 degs.), as in quality and package 2/—2/1 ... — Crude naphtha, north (in bulk) .... /6—/6| ... — Creosote (for ordinary qualities) .... /3tl ... — Pitch (f.o.b. east coast) ........... 22/—23/ ... 4-1/ ,, (f.a.s.) west coast) ........... 20/—24/ ... 4-2/ Tar (per ton ex works) ............. 21/6—25/6 ... — Sulphate of Ammonia.—Although the market for forward continues firm, and there is a fairly good enquiry, yet prompt prices are nominally easier. Licences are becoming more available, but the London export trade is still obviously hampered. The nearest prompt paper prices are :— Rise (+) or foreign markets, who is likely to rest contented or even re-assured by the promise that the maximum prices fixed under the monopoly “ would not be higher than those pre- vailing before the war?” Scraps of binding paper become as ropes of sand, when Germans seek monopolies of what is contraband. The Italian Association of Chemical Industry is empha- sising the available sources of potash in that country, and there are three decidedly promising sources, viz., the liquid residue left in olive oil cake after expression of the oil ; the mother liquors in the salt-evaporating basins on the sea- board ; and the residuals from the sugar works. It is well known that sugar beet pulp forms an excellent fertiliser of potassic potentiality. The returns for the week are :—Pitch, 1,230 tons, 20 barrels, 5 drums, 5 casks, £190; tar, 48,060 gals., 10 tons, 12 barrels, 10 packages, and £37; tar oil, £470; sulphate of ammonia, 3,010 tons. Anthracite:— | Best malting large (hand picked) ..... Secondary do. Big Vein large ...... Red Vein large ..... Machine - made cobbles Paris nuts ........... ........... French do............ Stove do............! Beans ............... Machine - made large peas ............. Do. fine peas ...! Rubbly culm......... Duff................. Steam coals:— Best large ......... Seconds .......................... Bunkers.................... Small ..............I Bituminous coals:— No. 3 Rhondda— Large ............. Thro’-and-thro’.... Small ............. Patent fuel ........... Current prices. 30/ -32/9 29/ -31/ 30/ -33/ 24/ -26/ 40/ -42/ 42/ -45/ 40/ -43/ 30/ -32/6 L’st week’s prices. | 28/ -30/ 26/6-28/ 28/ -30/ 23/ -25/ 34/6-40/ 38/ -42/ 38/ -40/ 26/6-30/ i Last year’s prices. ' 18/ -20/ 17/ -18/ 16/6-17/6 12/6-13/6 : 19/3-21/3 1 21/ -23/ ’ 21/ -23/ : 18/6-19/6 London (ordinary makes) .... Beckton (25 per cent.) ...... Liverpool ................. Hull ..................... Middlesbrough ............ Scotch ports ............... W ales ................... Nitrate of soda (ord.) per cwt. fall (-) on the week. £14/16/3 — £13/17/6 -2/6 £14/12/6 — £14/7/6 — £14/12/6 -2/6 £15 — £14/10 -2/6 13/9 — 18/6-19/6 18/6-19/6 ; 12/6-13/6 10/9-11/6 12/ -12/6 ( 5/6- 6/ 5/3- 5/9 6/ - 6/6 ! 3/ - 3/6 25/ -27/6 22/ -25/ 16/6-18/6 11/6-14/ 26/6-28/ 23/6-25/6 19/ -19/6 13/6—14/6 18/ -20/ 13/6—15/6 10/3-11/ 8/ - 9/6 23/ -26/ 26/6-30/ 17/ -18/ 18/6-19/ 20/ -22/ 10/3-10/9 30/ -32/ 31/ -32/ 16/6-17/6 IRON. As the dispute in the coal trade had been settled, things began to look brisker. The production of pig iron and hot metal at the blastfurnaces was up to the average. Most of the furnaces were operating at the steelworks, and the tin- plate industry showed a slight improvement. The ship- ments of tin-plates were 37,855 boxes, and receipts from works 69,680 boxes; stocks in the dock warehouses and vans 318,241 boxes. Metal extraction works are doing well, and extensions are being made. The engineering and fitting shops had a brisk time. Llanelly. COAL. There is very little improvement to report as to the condition of the local coal market, and the difficulties experienced in arranging shipments are affecting some parts of the trade very considerably. The enquiry for nearly all the anthracite coals could not be better, and if it were only possible to secure sufficient tonnage there would be nothing to complain of, and collieries would do well. The demand from the Continental buyers has been surprisingly good for some time, and the prices they are able to pay have really surprised every one ; as probably no one some weeks ago expected these figures could be obtained. For all the anthracite large sorts order books are in a good position, whilst for the machine-made kinds not sufficient coal can be obtained to meet the demand. Several of the collieries have more orders on their books than they can deliver this month, and are now refusing to qu te. The steam coal market, on the other hand, seems to have collapsed entirely, and prices have dropped during _______ Trade Notes. Last year in the United States there were 5,809 by- product coke ovens standing, and 644 in course of construc- tion. There was a marked increase in the proportion of by-product coke produced, which now amounts to 11 per cent. The census for 1915 should be very interesting. A widening of the facilities for working up residuals has come the way of the Ormskirk, Prescot, and Warwick gas companies, presumably due to war needs. The chief point is the fact that the clause restricting purchase from other, gas companies to one-third the output of the purchaser has been struck out, though it was enforced in the Swansea and South Suburban Acts. The actual clauses as passed by Par- liament are of interest to by-product manufacturers. These three gas companies may now (1) work up and convert their own residuals; (2) purchase the residuals from the manu- facture of gas by other gas undertakers; (3) purchase from other gas undertakers and elsewhere, and use the materials required to work up and convert the residual products so arising from their own manufacture or purchased as afore- said. But the company may not manufacture chemicals exclusively from raw materials purchased from sources other than gas undertakings, or in the manufacture of which the use of residual products produced or purchased is merely sub- sidiary. The counterblast of the Budget Commission of the German Reichstag to the commercial protest against the nitrogen monopoly is quaintly amusing, and might satisfy those opposing the monopoly if the statements did not come from the Budget Commission. On the other hand, it gives us a glimpse of the cards held by the German Financial Secretary of State, which shows that he is not overburdened with trumps, even if we lead from three out of the four suits. One thing is clear : they fear three things— keen competition against German nitrogen; the organisation of foreign producers after the war, including Franco-British- Chilian combines and Anglo-American combined control of cyanamide and water-power works; lastly, they fear a price- cutting campaign “ that might prove fatal to German producers of nitrogen, and particularly by-product sulphate of ammonia.” Yet the plea for forming a monopoly and fixing maximum prices is placed in immediate juxtaposition to the claim that the Badische air-nitrogen process, and the cyanamide pro- cesses, have been so successfully developed during the war that the manufacturing cost is now sufficiently low ‘‘to enable these fertilisers to be sold at prices below those prevailing during the past 10 years.” Then, why fear price-cutting, foreign competition, or foreign organisation of interests and sales? When it is all too obvious that the German Treasury intends to enrich itself by inflated prices at home owing to a monopoly, and also to be able to smash up foreign markets and competition by ruthless under-selling in those said ___________________________________________________ THE LONDON COAL TRADE. Thursday, September 9. ................ _____________________ The London coal trade for the past week has shown a distinct improvement in the demand for all qualities of house coal, but the difficulty is that the quantity offering is so small. The colder weather of last week gave an impetus to the demand, but as the colliery representatives have little or no coal to offer, the buying was chiefly confined to the merchants and factors who had contract coals due and were thus able to accept a few orders. The depot trade is reported stronger, and domestic orders are increasing. The seaborne tonnage is well maintained, but all the coals arriving are contract cargoes, and no quotations are available nor is any of the coal offered for sale on the open market. Thirty-three vessels arrived in the Thames for Monday’s market, and 10 for Wednesday. The provisions of the Price of Coal (Limitation) Act renders quotations for all qualities of fuel very uncertain, and the whole of the busi- ness doing is subject to variation, and consequently all prices given are more or less nominal. Collieries who have carefully considered the point and have decided upon what the actual selling price should be are scrupulously avoiding taking orders, as the order books are already over full of unexecuted orders, and the monthly contract quantities are in danger of being depleted. A large number of the colliery representatives have definitely stated their inability to accept any moie orders until the present month is clear. The Board of Trade notice urging both householders and mer- chants to fill up any available storage ground and accommodation has led to a very brisk delivery trade, and at the present moment every depot and wharf is well supplied with stock, but how long this will last when colder weather intervenes remains yet to be seen. The Board of Trade point out that all large consumers must be prepared for a great decrease of the output of coal during the winter, and this may be still further decreased unless the attitude of the coal miners should improve. The Board therefore urge that arrangements will be made for keeping good stocks in reserve. The difficulty is that in the Metropolis, land is so enormously valuable and the storage accommodation so limited that very little extra to what has been done for many years past can be done at the present moment, besides which, many of the London houses (and flats in particular) have no room for more than a week or fortnight’s supply, and are literally dependent upon the trolley men or hawkers for their regular weekly supply. The difficulties during the winter months of delivery and cartage are likely to exercise considerable influence upon the main question of supply almost as much as the shortage of coal in London, and in many cases the metropolitan merchants report that they have no further available accommodation for landing coal. The orders received lately from the general public will speedily put this matter straight, even before the colder weather sets in. The transport difficulty is still acute, and many of the barging stations along the Thames side are absolutely blocked with loaded wagons, and the railway companies are refusing to bring forward anything further for these stations until stocks are cleared. There are also serious wagon delays reported, and it is no uncommon thing for collieries now to refuse to load any coal except in consignees’ “ own ” private wagons. Furnace coke is reported easier at Middlesbrough at 25s. 3d., delivered at works. The Tyne shipments are dull. Licences for Sweden have been sus- pended, and for neutral countries are granted only sparingly. No offering of Durham or Yorkshire quantities are to be found, and as all the seaborne coal arriving is already contracted for, the market is almost entirely dependent upon railborne coal. The attendance on the market is good, and it is clearly apparent that a strong effort is being made to secure replenishments of all kinds of domestic fuel. Manufacturing qualities are also firm, but scarce. Slacks are more plentiful, and have in many cases accepted lower prices. Small nuts are selling freely, but in every case the new Act has lowered the prices some- what. Bakers’ nuts and kitchener cobbles are in good demand, and the restricted output is already keenly felt. In the freight market chartering is slow and the tonnage offering is small. The Mediterranean ports and the North of France shippers are securing the bulk of the supplies. 8s. per ton has been secured from Hull to London. Tyne prices are 19s. to 20s. for prime sorts, 16s. 6d. to 17s. for seconds. Bunker coals at 15s. 3d. In the Humber district, Hartleys are quoted at 18s. to 18s. 6d. per ton f.o.b. Hull. In the Welsh market, best Admiralties are still reserved for Government Naval use. Seconds are quoted at 25s. to 26s. per ton f.o.b. Monmouthshire Black Veins are 24s. to 24s. 6d. per ton f.o.b.. Western Valleys 23s., and Eastern •20s. 6d. South Yorkshire hards are quoted at 16s. to 16s. 6d. per ton at pit, Derbyshire hards 16s. per ton, and seconds 15s. Steam cobbles 14s. 9d. to 15s. On Wednes- day’s market a small quantity of Sharlston Main was offering by sea, and sold readily, the price accepted being 19s. 6d. per ton at pit for the Wallsend quality. _________________________ From Messrs. Dinham, Fawcus and Co.’s Report. Friday, September 3.—There was a slightly better tone in the seaborne house coal market to-day, but no Durham or Yorkshire cargoes available. Cargoes, 32. Monday, September 6.—The improvement noticed on Friday in the seaborne house coal market was maintained to-day, but no transactions were reported. Cargoes, 33. Wednesday, September 8.—The seaborne house coal market was without alteration to-day, with no sales reported. Cargoes, 10.