268 THE COLLIERY GUARDIAN August 11, 1916. full swing throughout the week, it is hoped that the supply- will be better, and that the pressure will be relieved. In the galvanised sheet trade there is little doing, and the exports last month only amounted to 10,382 tons, against 31,134 tons in July* 1915. Most of the works, however, are engaged in the manufacture of black plates and trench plates for the Government, the export of black plates being now nearly three times what it was a year ago. For 24-gauge corrugateds the price of <£26 10s. to <£27 is still quoted. Spelter is <£44 per ton, or a drop of <£11 onx the week. Iron and steel works are busy, and rail makers are turning out large quantities of both light and heavy sections, the quotations for which are <£14 upwards. Welsh pig iron is nominal at <£7 2s. 6’d., but there is nothing offering. The iron ore market is rather firmer with more business doing, chiefly owing to the reduction in the Spanish rate of exchange. Best quality of rubio is up to 20s. f.o.b. Bilbao, whilst second qualities command 15s. per ton. In scrap metals there is little doing, and the prices obtained are those fixed by the Government. The award of Judge O’Connor, who arbitrated in the wages dispute between the iron and steel workers of South Wales and Monmouthshire and their employers has been issued. The men claimed an advance of 24| per cent., whilst the employers offered 10 per cent., which the men refused to accept. Judge O’Connor has now granted an increase of 10J per cent, to date from July 1. Swansea. COAL. Despite considerable tonnage in the harbour last week the resulting business was only moderate. This is not surprising in view of all the restrictions in force. Activity in the coal and patent fuel trades showed an increase on last week, the shipments together amounting to-90,914 tons. There was a fair attendance on ’Change, but very little business on the anthracite market. All the collieries were working over the holidays, and the attendances were better than was expected. The docks were practically idle and owing to this there will be some delay in turning boats around for the next few days ; but notwithstanding delay and shortage of tonnage, prices appear steady for all classes, particularly machine-made qualities. Prices are all net f.o.b. (cash, in 30 days). Anthracite:— Best malting large Current ;L’st week’s Last year’s prices, / prices. prices. (hand picked) .....; 31/ -33/ : 31/ -33/ 26/ -28/ Secondary do. ...,’ 28/ -29/6 28/ —29/6 26/ -27/ Big Vein Valley large... 26/ -29/ 26/ -29/ 28/ -32/ Red Vein large ...... 24/ -26/ ' 24/ -26/ 20/ -23/6 Machine-made cobbles 37/6-38/6 : 37/6-38/6 34/6-36/ Paris nuts .............. — — I — French do............. 37/6-38/6 37/6-38/6 38/ -42/ Stove do.............. 36/6-37/6 36/ -37/6 36/ -40/ Beans ................ 30/ -32/ 30/ -32/ 25/6-30/ Machine - made large peas ............... 21/6-23/ 21/6-23/ 18/6-19/6 Do. fine peas .... — — — Rubbly culm........... 13/ -13/6 13/ -13/6 12/ -13/ Duff.................. 5/ - 5/6 5/ - 5/3 , 6/9- 7/3 Steam coals:— Best large ........... 37/ -38/ 37/ -38/ 26/ -29/6 Seconds ............... 33/ -36/ 33/ -36/ ' 23/6-25/6 Bunker throughs....... 28/ -30/ 28/ —30/ ' 20/ -30/ Small ................ 20/ -23/6 20/ -23/6 15/ -17/ Bituminous coals :— t No. 3 Rhondda— ; Large............... 37/6-39/ 37/6-39/ : 26.6-31/ Thro’-and-thro’..... — — — Small .....i 26/ -29/ 26/ -29/ 20/ -22/ Patent fuel ............j 45/ -50/ 45/ -50/ ■ 31/ -32/ Llanelly. COAL. There is not much change to report in the position of the market, but the improved tonnage arrivals at the end of last week, together with the reduced outputs which will rule during the greater part of the present week, will have a stiffening tendency as regards prices. Anthracite large and cobbles have been a little steadier, but the demand for machine-made kinds continues strong. Inland consumers have to place their orders well ahead to ensure satisfactory deliveries. Large steams continue in good request, but there is little improvement in the position of throughs and smalls. Bituminous coals continue scarce, with a strong demand from local munition works. Closing quotations are approximately as follow: — Prices f.o.b. Anthracite:— Best malting large .. Secondary do. ....... Big Vein large....... Red Vein do.......... Machine-made cobbles... Stove 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. 30/ -32/ 27/ -29/ 27/ -29/6 25/6-27/6 38/ -39/6 37/6-39/6 37/6-39/6 37/ -39/ 29/ -31/ 22/ -23/ 14/ -15/ 5/ - 5/6 36/6-38/6 27/6-31/6 20/ -22/ 26/6-28/6 L’st week’s Last year’s prices. prices. 30/ -32/ 27/ -29/ 27/ -29/ 26/ -28/ 27/ -29/6 28/ -32/ 25/6-27/6 22/ -23/ 38/ -39/6 36/ -38/ 37/6-39/6 38/ -40/ 37/ -39/6 39/ -41/ 37/ -39/6 38/ -40/ 30/ -32/6 26/ -29/ 22/ -23/ 18/ -19/6 13/ -13/6 12/ -12/6 5/ - 5/6 6/6- 7/6 34/6-36/6 27/ -29/ 30/ -32/6 21/ -23/ 20/ —22/ i 14/ -16/ 25/6-27/6 ' 19/ -21/ Coal Trade of Chile.—In the course of a recent report, Consul Voetter, at Antofagasta, Chile, says :—“ Coal is still in demand in Chile, although several vessels have recently brought cargoes from Norfolk and Newport News. The coal that lias cvjne is Pocahontas or New River. For some pur- poses the Pocahontas coal is not satisfactory, as it is too fine; a lumpier coal is desired. The users would be willing to pay a higher price than the usual quotations if they could obtain a screened coal free of slack. Firms in Chile which are interested in coal imports and in shipping nitrate may be willing to act as agents with more than a perfunctory service to give, but their interest will be temporary, as they intend to import their coal from England as soon as the war is over.” THE LONDON COAL TRADE. Thursday, August 10. Trade has been brisk. A few of the better classes of house coal have been on offer, and readily bought up. Demand is good, and a large number of unexecuted orders still remain on the merchants’ books. Derby brights are scarce, and many of the cheaper qualities of fuel are still being used for manufacturing purposes. Steam coals are difficult to obtain, and the large orders for munition works prevent any appre- ciable quantity coming forward to London. The delivery trade must continue busy for a considerable time, as the public orders on the books are still very heavy. Fortunately the depot men and the carmen are stolidly continuing work, gradually overtaking the long-delayed orders. Every effort to get coal into stock on the various wharves and depots seems at present of little avail, although in many directions the large public bodies are accumulating very heavy reserves. The decrease in output owing to the considerable number of miners away at the front has been estimated by the Home Office at 30,000,000 tons per year, but the elimina- tion of avoidable absenteeism is calculated to increase the yearly supply by about 10,000,000 tons. No free coals are offering in the seaborne market. A fairly good quantity has been coming forward lately, but all are contract cargoes. Twenty-eight boats were returned on Monday as arriving in the River Thames and 8 for Wednesday’s market. The Tyne reports show that business is rather quiet, with plenty of orders on hand. The Government are still requisitioning heavy supplies of steam coal, and collieries report large numbers of orders on hand for some considerable time. Tonnage has improved, and chartering is fairly brisk, a good supply going forward to France at limitation rates. Prices remain stationary except for bunker coals, which are slightly easier. Best Tyne steams are quoted 50s. f.o.b., but have been sold in some cases at 47s. 6d. Seconds are down to 43s. to 45s. ; best gas coal, 40s. ; seconds, 34s. to 36s. ; bunkers, 33s. 6d. to 35s. The Norwegian State Railways are asking for tenders for 12,000 tons steam coal for September and October delivery. The last contract was for August and September delivery, and the price ruled about 54s. f.o.b. The market on Monday (August Bank Holiday) was quite normal, and the members attended in good numbers. All the wharves and depots and all offices vcere open, and business seemed as usual in all directions. Some of the lightermen on the River Thames found the men were not so ready to continue working as the depot men, and a few tugs and barges were idle in consequence. The increase of 2s. 6d. per ton allowed by the Board of Trade on the South Wales coals has been extensively criticised, and many enquiries were made. The Board of Trade says in a letter :—“ As the order was intended to enable coal owners to recover the increased costs incurred in respect of coal raised from June 1, for which no doubt themselves have made provision, but for the statutory limitation of prices purchasers may reasonably be expected to pay the revised price on all deliveries since June 1, whether the contract expressly pro- vides for an increase of the standard amount or not, except in special cases, e.g., where the purchaser has himself sold the coal and is not in a position to recover the increased charge.” From Messrs. Dinham, Fawcus and Co.’s Report. Friday, August 4.—The seaborne house coal market was again without supplies, and the enquiry was still up to the mark, but no cargoes were on offer. Cargoes, 21. Monday, August 7.—There was no alteration in the sea- borne house coal market to-day, it being still without supplies, but steady. Cargoes, 28. Wednesday, August 9.—The seaborne house coal market was still unaltered, and the weather being exceedingly warm, little business was done. Cargoes, 8. THE TIN-PLATE TRADE. Liverpool. All works are closed down this week for the annual holi- days. There is a little more enquiry, but transactions are almost entirely confined to prompt specifications and second- hand lots, makers not caring to commit themselves ahead owing to the uncertainty of being able to secure supplies of raw materials.. Quotations range as follow:—Cokes: IC 14 x 20 (112 sh. 108 1b.), 28s. to 30s. a box; IC 28 x 20 (112 sb. 216 1b.), 55s. fid. to 59s.; 10 14 x 18| (124 sh. 1101b.), 29s. to 31s.; IC 20 x 10 (225 sh. 156 1b.), 42s. 6d. to 44s. 6d. I C squares and odd sizes, 29s. 6d. to 32s. basis. Charcoals are easy, at 30s. a box and upwards. Ternes are nominal, at about 53s. to 54s. for IC 28 x 20. Coke wasters are in moderate request, and are quoted :—C W 14 x 20, 25s. fid. to 27s. a box; C W 28 x 20. 52s. 6d. to 54s.; CW 14 x 18|, 26s. fid. to 28s. 6d.; CW 20 x 10, 40s. to 42s. All f.o.b. Wales, less 4 per cent. THE BY-PRODUCTS TRADE. Tar Products.—There is a weaker feeling in naphthas, both solvent and crude, which has resulted in a marked fall in price. Tar is firmer, and pitch also show’s some improve- ment. Other products unchanged. Nearest values are :— Bise ( + ) or fall (-) on the week. Benzols, 90’s ........................... 1/04 ... — 90’s North ................ /10£—/llj ... — ,, 50’s North ................ 1/3—1/4 ... — Toluol .............................. ' 2/3 ... — Carbolic acid, crude (60 per cent.)... 3/4 ... — ,, crystals (40 per cent.) 1/3 ... — Solvent naphtha, south (90% at 190 degs.), as in quality and package... 1/9 ... —/2 Solvent naphtha, north (90% at 190 degs.), as in quality and package... 1/6 .... —/fi Crude naphtha, north (in bulk) ...... /6j—/6| ... — 0} Creosote (for ordinary qualities) ... /2|—/24 ... — Pitch (f.o.b. east coast) ........... 16/—16/6 ... +1/ ,, (f.a.s west coast) ............. 15/—15/6 ... 4-1/ Tar (per ton ex works) .............. 15/9—19/9 ... + /9 [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.—The promise of higher prices has been fulfilled, and the market is steady thereat. The settling of home consumers’ prices at £15 to £15 10s. up to the end of the year should make things more satisfactory in many ways, especially as regards export licences, seeing that all last year’s restrictions and specially reduced prices only caused a 10 per cent, increase in consumption at home. Closing prompt prices arc :— Bise ( + ) or fall (-) on the week. London (ordinary makes) ... £17/15 ... +10/ Beckton (25 per cent.) £16/10 + 5/ Liverpool £17/15—£17/17/6 ... +2/6 Hull £17/12/6 ... +5/ Middlesbrough £17/12/6 ... +5/ Scotch ports £18 ... +7/6. Wales £17/12/6—£17/17/6 ... +10/ Nitrate of soda (ord.) per cwt 17/6 - -Mi [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.] TAXATION AND MINING. On the invitation of the Institution of Mining and Metallurgy, a largely-attended meeting of representatives of mining companies was held at River Plate House, Finsbury-circus, E.C., on the 8th Inst. As already announced, the meeting was convened to decide the action to be taken in regard to a “ representative appeal” to Hie Excess Profits Tax Board of Referees, in accor- dance with the terms of the correspondence, which was read, between the institution and the Chancellor of the Exchequer, and also in regard to other questions affecting the economic interests of the mining and metal indus- tries. Mr. J. H. Cordner-James, vice-president, Inst.M.M., presided, and in the course of his opening remarks he stated that the present system of taxation and other economic questions affecting the future of these industries had engaged the attention of the institu- tion for some time past. He also referred to the fact that the Institution of Mining and Metallurgy, the Iron and Steel Institute, the Institute of Metals, and the Institution of Mining Engineers, as representing all the branches of the mineral and metal industries, are acting together in urging upon the Imperial Government the necessity, in the national interest, for the establishment of a department of minerals and metals in the metropolis of the Empire to co-ordinate information on its mineral resources, to assist and stimulate their development and to safeguard the economic interests of the mineral and metal industries. Other speakers dealt particularly with the larger question of general taxation, and gave con- crete examples of gross anomalies in its incidence as affecting mines operating outside the United Kingdom, but registered and controlled in London. While recog- nising that it was incumbent on all industries at the present time to make their maximum contribution to the national exchequer, it was pointed out that the income and excess profits taxes on certain mines in their present forms were equivalent to confiscation of capital value, and that the result inevitably would be the restriction of output of certain metals, especially gold, and the removal on a large scale to other centres of mining com- panies at present domiciled in the United Kingdom. All were in complete agreement as to the necessity for immediate consideration of these wider questions, with a view’ to joint action to secure reform. The following resolutions were unanimously adopted, and the chairman briefly outlined the procedure in connection with the excess profits tax appeal :— (1) That this meeting of representatives of the mining industry approves the action taken by the council of the Institution of Mining and Metallurgy in regard to the excess profits tax, and pledges itself to support the institution in the representative application to the Board of Referees referred to in the correspondence between the institution and the Chancellor of the Exchequer (2) That the following gentlemen be and are hereby appointed a committee, with power to appoint alternates, to act with the council of the institution in connection with the “ representative application ” to tlie Excess Profits Board of Referees, and. later, in connection with wider questions affecting the mineral and metal industries, and, in particular, the effect of the present system of taxation on those indus- tries : The Right Hon. Lord Harris. Sir Lionel Phillips, Bart., the Right Hon. Sir Alfred Mond, Bart., M.P., Sir Trevredyn R. Wynne, Mr. F. W. Baker, Mr. Edmund Davis, Mr. F. A. Govett. Mr. F. H. Hamilton. Mr. Henry C. Taylor, Mr. Leslie Urqphart, Mr. Oliver Wethered, and Mr. Robt. Williams, with power to add to their number. (3) That a fund be subscribed to meet the necessary expenses in giving effect.to the preceding resolutions, such fund to be administered by the Institution of Mining and Metallurgy in conjunction with the appointed committee. Thu secretary, Mr. C. McDermid, will communicate direct, at an early date, with mining companies, and all correspondence on the subject should be addressed to him at the house of the institution, No. I Finsbury- circus. At a large gathering of the employees of /Messrs. Woodhead and Son Limited, Tong Collieries, Bradford, the employees presented Mr. Alfred Bedford, who is leaving after 15 years' service as manager, w'it-h a handsome mahogany clock, and also gave Mrs. Bedford a set of silver vases and a case of silver teaspoons. The presentation was made by the oldest employee, Mr. John Marshall, who has been a miner for 54 years. In a letter to the Pall Mall Gazette. Mr. F. D. Marshall (past-president of the Institution of Gas Engineers) calls attention to the vast quantities of cannel coans and shales in the United Kingdom which are lying fallow, as there is practically no use for them, since the gas companies dis- continued using cannel in favour of water gas enrichment. These cannels will give from 30 to 80 gals, of crude oils per ton, and. in addition, gas. ammonia, and an excellent smoke- less fuel for either domestic or industrial purposes. From tests made on one canne] by low temperature carbonisation, it is estimated that the treatment of 100.000 tons per annum would furnish approximately:—Motor spirit, 540.000 gals.: illuminating oils, 1,458,000 gals.; boiler fuel oils, 3.078,000 gals.: pitch. 11,100 tons: sulphate of ammonia, 1.050 tons: smokeless fuel, 45.000 tons : and that these oils would “crack” into more motor fuel equal to about 20 to 25 per cent, of their own bulk.