312 ___________________________________________________________________________________________________________ THE COLLIERY GUARDIAN. August 18, 1916. guaranteeing an uninterrupted supply of coal at a definitely fixed price without risk of increase. To this end it is proposed to embark upon a comprehensive scheme of nationalisation, including a further development of the Post Office, the creation of a public service of railway and canal transport, and the nationalisation of our coal supplies. And this is to be done without confiscation, in a manner which is carefully explained in the pages of this volume. The redemption of one-third part of the National Debt within the period of a decade, however, will obviously require a further effort, and it is suggested that this can be done by making an excep- tional levy of 10 per cent, of the capital value of all property, payable by 10 yearly instalments, and accompanied by some sort of equivalent levy on the earned incomes of those without property. As a part of this proposal, it is suggested to effect a nationalisation of life insurance by the creation of a State insurance department, which would absorb all the existing liabilities of insurance and friendly societies. Eventually, after substituting Govern- ment stock for all the bonds and shares of existing railway, canal, colliery and insurance companies, the Fabian. Committee proposes to wipe out any remaining portion of the National Debt by dividing it amongst various State departments, including the Ministry of Communications, Post Office, State Railway Department, Government Coal Department, and the State Insurance Department. At first sight this colossal scheme of nationalisa- tion would appear to amount merely to shifting the burden of our National Debt from one shoulder to another, and by the simple device of altering its name, and subdividing it into parts, making it appear to vanish altogether from sight. It savours too much of jugglery to promise any effective solution of the problem, but the authors of this proposal appear seriously to believe that by this method every trace of the National Debt, including the whole of the capital value of the activities taken over by the State, can be redeemed within the period of 100 years. It is natural that the Fabian Committee should anticipate serious opposition to the upheavals here suggested, and an appeal is made against too hasty a rejection of the scheme. It is urged that the Government must adopt one of two courses. Either they must provide for the redemption of the National Debt by making use of the capital value of our railways, coal mines and life assurance funds, ’ or they must adopt the plan of direct taxation of incomes and property on a scale that will be extremely burdensome. The former plan is claimed by them to be the better, because no one, they say, will be one penny the worse for its adoption—a statement which obviously needs careful examination before it can be accepted. We shall reserve for a further article a more detailed criticism of these proposals, and especially that portion which concerns the coal industry, by which every householder in the country is to be assured of an adequate coal supply at a fixed and uniform national price of Is. per hundredweight delivered into the cellar. At the moment, we will be content to withhold our endorse- ment of the general proposition laid down with regard to possible alternatives. It is not by any means established that our financial position will need any such drastic measures to be adopted. A great deal, of course, will depend upon the duration of the war; but present indications seem rather to point to the soundness of the view, recently expressed by the Chancellor oe the Exchequer, that the situation will be little worse than the case of an individual who is called upon to incur a liability equal to his annual income. _______________________________ Mr. A. M. Tapp, of Shortlands, Kent, a director of the Powell Duffryn Steam Coal Company Limited, who died on July 7, left estate of the value of £101,657. The Chief Inspector of Factories announces vacancies for certifying surgeons at Clwtybont (Carnarvon) and Llansawel (Carmarthen). Mr. Daniel Pryce, Monmouth, colliery proprietor, who died on April 12 last, left estate of the gross value of £233,419, the net personalty amounting to £218,979. Twelve miners have been killed by an explosion at Michel, British Columbia. It is supposed that lightning struck the exposed signal wires by which current was conducted into the mine. THE COAL AND IRON TRADES. Thursday, August 17. ___________________________________________ Scotland.—Western District. COAL. The easier tendency in the west of Scotland coal trade. continues, and immediate prospects are not encouraging. The industrial demand is not so fully maintained, while the export enquiry is reduced to a minimum. Tonnage, too, is very scarce, and matters are not improved by the refusal of licences in a number of cases. Supplies of round coal are more plentiful, and prices for most sorts only a matter of arrangement. Smalls are also more plentiful, but values are comparatively firm. Shipments for the past week amounted to 102,382 tons, compared with 94,879 in the preceding week and 147,100 tons in the corresponding week of last year. Prices f.o.b. Glasgow. ' Current L’st week’s Last year’s ! prices. 1 prices. prices. Steam coal................' 24/ -27/6 25/ -26/ 14/ -17/ Ell ..................... 25/ -26/ 27/ -28/ 18/ -18/6 Splint................... 30/ -35/ , 35/ -40/ 17/ -22/6 Treble nuts .............■ 23/ 23/ 19/3-19/9 Double do................; 22/ , 22/ 17/ -17/3 Single do................’ 21/ ; 21/ 16/ -16/9 IRON. The various branches of the Scotch iron trade are busier’ than ever, but although the works are running day and night, outputs are still below requirements. Large orders on Government account are still being placed, and ordinary business is therefore restricted, while exports are practically confined to the requirements of the Allied Governments. There is little change in the position of the Scotch pig iron trade. Hiematite remains strong and scarce, while ordinary sorts are fully taken up. The output of haematite is almost entirely absorbed by local steel works, and licences for export outside of war material are almost impossible to obtain. Shipments for the past week amounted to 460 tons, against 1,813 tons in the same week last year. The activity in the finished iron trade is most pronounced. Work in the malleable iron trade is proceeding under tremendous pressure owing to increased orders, and, in view of the scarcity of labour and irregular supplies of raw materials, great difficulty is experienced in meeting requirements. The business passing is almost entirely on Government account, ordinary home business and exports being reduced to a minimum. Crown quality iron bars are quoted £14 12s. 6d. per ton, less 5 per cent, for home delivery, and £14 2s. 6d. to £14 10s. per ton, net, for export. Mild steel bars are in urgent demand, and are quoted about £18 per ton, f.o.b. Glasgow. In the black sheet trade the demand for steel sheets, on account of the home Government and of the Allies, has become so insistent that shipments of gauges under | in. have been prohibited except under licence, while, for the same reason, the output of iron sheets is restricted. The price remains about £18 10s. per ton, net, f.o.b. Glasgow. ________________ Scotland.—Eastern District. COAL. There is no change in the coal trade in the Lothians. Collieries are still short of prompt business, and are disposed to lower prices to induce business. Supplies of all sorts are plentiful. Shipments for the past week amounted to 43,926 tons, against 45,771 in the preceding week and 46,149 tons in the same week last year. Prices f.o.b. Leith. ____________________________ | Current I prices. Best screened steam coal... 35 / Secondary qualities......; 34/ Treble nuts ............' 23/ -24/ Double do..............j 22/ -23/ Single do..............i 21/ -22/ jL’st week’ I prices. ! 34! -35/ ; 34/ : 23/ -24/ I 22/ -23/ i 21/ -22/ s Last year’s prices. 16/3-16/6 15/6-16/ /19/5-20/ , 17/ -17/6 ; 16/6-17/3 Conditions in Fifeshire are similar to those in the Lothians. Tonnage is scarce, and all sorts of coal plentiful, while values continue to decline. Clearances amounted to 43,090 tons, against 53,850 in the preceding week and 65,935 tons in the same week last year. Prices f.o.b. Methil or Burntisland. Best screened navigation! Current I.L’st week’s Last year’s prices. | prices. prices. coal 40/ -45/ i 43/ : 24/6-25/6 Unscreened do 38/ -40/ ! 40/ 22/6-23/6 First-class steam coal ; 39/ ' 40/ : 18'6-20/ Third-class do | 28/ -29/ ; 30/ ' 14,6-15/6 Treble nuts 23/ -25/ : 23/! -26/ , 19/3-20/ Double do 22/ -24/ 22/ -24/ i 17/ -17/6 Single do 21/ -22/ ! 21/ -22/ j 16/6-17/ The aggregate shipments from Scottish ports during the past week amounted to 189,398 tons, compared with 194,500 in the preceding week and 259,184 tons in the corresponding week of last year. Northumberland, Durham and Cleveland. Newcastle-upon-Tyne. COAL. During last week 112,903 tons of coal and 8,388 tons of coke were despatched from Tyne Dock, an increase of 4,664 tons of coal and 4111 tons of coke when compared with the shipments for the corresponding week of last year. The Dunston clearances amounted to 30,226 tons of coal and 13,625 tons of coke, a decrease of 18,302 tons of coal, but an increase of 11,890 tons of coke. The Blyth ship- ments totalled 61,841 tons of coal and coke, an increase of 8,543 tons. Thus, the total clearances from these three places aggregated 235,526 tons of coal and coke, an increase of 59,794 tons when compared with those for the previous week, and of 10,906 tons when compared with those for the corresponding week of last year. The contract to supply the Norwegian State Railways with 10,000 tons oP steams is stated to have been secured by Newcastle merchants for D.C.B.’s at 45s. 9d. per ton f.o.b. Blyth, ship- ment up to October 10. The Swedish State Railways are reported to be enquiring for tenders of a very considerable quantity of steams for shipment up to the end of the season. The prompt coal market is very languid. Heavy purchases are being made, on the restricted prices basis, for French destinations, but the open market is dull. Most descriptions of fuel are cheaper this week, and even colliery quotations hardly represent the minimum prices at which purchasers with vessels and licences ready may obtain supplies. There are several reasons for this weakness. The tonnage difficulty, as ever, looms large ; export licences are being granted with a very sparing hand ; the Admiralty is requisitioning very much less coal, with the result that larger supplies are falling on the market; and the incerti- tude as to what the early future may bring forth, especially so far as Italian business is concerned, checks business in that direction. F.o.b. quotations for prompt shipment show the following variations on the week:—Best Blyth steams are easier; Tynes, 2s. 6d. reduced ; Blyth seconds, 5s. fallen ; unscreened, 2s. 6d. lower : Blyth smalls, ditto; Tynes, ditto; specials, ditto ; smithies, easier; gas specials, 2s. 6d. decreased ; unscreened bunkers, Durhams, Is. lower; Northumbrians, weaker; coking coals, Is. down; smalls, ditto. Other descriptions of fuel are unaltered. Forward business is irregular, with a weaker undertone. Prices f.o.b. for prompt shipment. Current 'L’st week’s Last year’s Steam coals :— prices. : prices. prices. Best, Bly ths (D.C.B.) ... 45/ -50/ 47'6-50/ 20/ Do. Tynes (Bowers,&c.) 45/ -47/6 47/6-50/ 19/ Secondary, Blyths 35/ -40/ , 40/ -45/ 16/6 Do. Tynes (Hastings or West Hartleys) ... 40/ -45/ 40/ -45/ 16/6-17/ Unscreened 32/6—3 / /6 ( 32/6-40/ 15/ -16/ Small, Blyths 27/6 ! 27/6-30/ 13/6-13/9 Do. Tynes 25/ i 25/ -27/6 13/ Do. specials 1 30/ , 30/ -32/6 15/ Other sorts: — Smithies 33/ -35/ i 35/ 17/6-18/6 Best gas coals (New Pelton or Holmside) 35/ -36/ . 35/ -36/ 20/6 Secondary gas coals (Pelaw Main or similar) 33/ -34/ 33/ -34/ : 17/ -18/ Special gas coals ■ 37/6 : 37/6-40/ ■ 23/ Unscreened bunkers, Durhams 30/ -34/ ! 30/' -35/ ! 17/ -18/6 Do. do. N orthumbrians 30/ -35/ 32/6-35/ ! 15/ -16/ Coking coals 32/ -33/ ; 33/ -34/ ! 17/6-18/6 Do. smalls 30/ -32/ ; 32/ -33/ i 17/ House coals ; 45/ -50/ ! 45/ -50/ ! 21/ Coke, foundry 45/ -47/6 ! 45/ -47/6 25/-27/6 Do. blast-furnace j 40/ -42/6 40/ -42/6 25/ Do. gas .................j 32/ -34/ j 32/ -34/ 25/ -27/ Sunderland. COAL. The exports from Sunderland last week amounted to 51,575 tons of coal and 335 tons of coke, as compared with 66,250 tons of coal and 625 tons of coke for the corre- sponding period of 1915, being a decrease of 14,675 tons of coal and 290 tons of coke. Notwithstanding a good French enquiry, and a fair arrival of shipping, the coal market is on the dull side. Special Wear gas coals are nominally quoted direct at 40s., with sales at 37s. 6d., while steams can hardly be called firm, smalls, in particular, being shaky. Bunkers are seeking trade. Plenty of coal of all classes appears to be obtainable at limitation prices. Foundry coke is in brisk demand, but business is retarded owing to the difficulty of getting export licences. Gas coke is unchanged. It is stated that the order for supplying the Norwegian State Railways, for which tenders were sub- mitted last week, has been secured by local merchants for D.C.B. coal only. The quantity arranged for is 10,000 tons, to be shipped between now and October 10, and the price is said to be 45s. 9d. per ton f.o.b. at Blyth. It is also reported that the Swedish State Railways are enquiring for steam coal over the remainder of the year, and tenders are being submitted. The quantity required is understood to be considerable. A fair business has been transacted in the freight market, but, as usual, chiefly for the French ports, at limitation rates. In other directions, however, chartering has been very quiet. Genoa, Savona at 71s. 6d., and Nice at 66s., show that Mediterranean freights are rather steadier. Prices f.o.b. Sunderland. Current Gas coals:— prices. Special Wear gas coals 35/6 Secondary do. 32/6 House coals:— Best house coals 40/ Ordinary do 35/ Other sorts:— Lambton screened 40/ South Hetton do 40/ ______ Lambton unscreened ... 30/ South Hetton do 30' Do. treble nuts \ 31/6 Coking coals unscreened ! 28/ Do. smalls 25/6-26/ __________________ Smithies 26/ Peas and nuts 28/ Best bunkers 31/6-32/ Ordinary bunkers 29/6 Coke:— Foundry coke 43/ Blast-furnace coke (did. Teesside furnaces) ... ; — Gas coke 1 33/ Middiesbrough-on-Tees. COAL. L’st week’ ’s Last year’: prices. prices. 37/6 21/6 33/6 : 16/6 45/ * 22/ 37/6 i 19/ 45/ A \ ' 23/ ' 9*1/ 34/ , 23/ ; 17 6 34/ : 17/6 35/6 ! 20/ 33/6 ! 18/ 32/6 ! 17/6 34'6 • 20/ -20/6 37/6 j 21/ 36/ 1 19/ 32/6 ! 17 6 47/6 1 326 28/ i 27/6 35/ | 25/ Considerable quantities of unscreened Durham coal have baen thrown on the market for immediate shipment in consequence of some derangement' of Government stems, and this has caused a temporary easing, the only qualities to maintain their value being best gas sorts. The Norwegian State Railways bought 10,000 tons of best