November 3, 1916. THE COLLIERY GUARDIAN 863 _______________________________________________________________________________________ seem fairly well supplied for the time being. Slacks of higher quality are only fairly abundant, and find a ready sale; low grade stuff is rather a drug on the market. Basic prices remain as follow : _________________________________________________________ Prices at pit. THE WELSH COAL AND IRON TRADES. Thursday, November 2. Current Staffordshire (including prices. Cannock Chase) :— House coal, best deep ... 22/ Do. seconds deep 20/ Do. best shallow 19/ Do. seconds do. 18/ Best hard i 18/6 Forge coal 16/ 11/6 Slack Warwickshire:— i House coal, best Ryder.. 19/ Do. hand-picked cobs 18/ Best hard spires 20/ 16/ Forge (steam) D.S. nuts (steam) 14/6 Small (do.) 14 6 jL’st week’s prices. 22/ 20/ 19/ i 18/ 18/6 i 16/ i 11/6 ' 19/ 18/ 20/ 16/ 14/6 I 14;6 Last year’s prices. IRON. The weekly market, at which there was a moderate attendance, maintained the even steadiness which has characterised it for some weeks past. There is plenty of business on offer, which makers, however, are not always in a position to accept. During the week there has been a meeting of ironmasters from all pat ts of the country to try to arrive at some uniformity, if possible, on the matter of trade discounts. Considerable impetus has been given to the movement for the abolition of all discounts by the action of the Ministry of Munitions in fixing prices on the net basis, at makers’ works, but it is difficult to abolish a custom which has existed in the trade for centuries. Marked bar makers, for instance, adhere to the custom of making their quotations subject to 2| per cent. No communication was made public as to the result of the conference, but it is understood that an agreement was arrived at in favour of abolishing all discount. The market revealed no important change in the finished branches. Makers of common bars are booked up to Christmas, and while the official basis is <£13 15s., outside sales are made at considerably higher figures, averaging probably 10s. to 13s. Small iron is difficult to obtain, makers having sufficient to do on the larger sizes. People who specialise on small sizes, three-eighths and under, find a ready market for all their output, and the demand from allied countries is well sustained. The basis for three- eighths rounds is <£16 10s., with much more than the usual extras for smaller sizes. A large home trade is being done in black sheets, on Government and general account, and quotations are firm at <£19, with an additional <£1 if painted. Business in galvanised sheets is necessarily restricted, owing to curtailment of exports. Government requirements account for a fair proportion of the output. Prices remain at £28 10s. to <£29 for 24 gauge. There was no important change in pig iron. Higher grades sell readily at full rates, forge qualities at varying rates under the maximum. France is on the market for large quantities, including good foundry sorts, and are ready to pay the price. Shipping difficulties are great. The scrap market was decidedly stronger. Steel turnings, recently a drug, made an upward bound, the minimum being now 45s. Wrought iron scrap is firm at <£6 12s. 6d. to <£6 15s, Steel semis continue to arrive from America in small lots, and American output is said to be sold till the end of March. Wire rods are quoted .£20 Liverpool. Prices for sheet bars are prohibitive. Monmouthshire, South Wales, &c. Newport. COAL. For days past there has been no improvement in the conditions of the coal trade, but rather the reverse. The supply of tonnage is greatly deficient, and the position grows daily worse. The stormy weather is delaying steamers on passage. Stocks of coal are now more abundant and congest both docks and colliery sidings, causing such a scarcity of wagons that pit stoppages are numerous. To obtain release of wagons sellers have been willing to make substantial concessions for immediate ship- ment, but while limitation values may now be arranged in practically every direction there is no forward booking, as sellers prefer to wait, having expectations of a brisk reaction with any improvement in the tonnage position. To-day’s values are shillings below last week, smalls being equally as weak as large. Pitwood has been remarkably steady, quotations ruling unaltered, while all arrivals are •moving off without any special difficulty. In the freight market the paucity of tonnage offering is reflected in rates, which are firmer for all destinations. out that when Sir David Dale was the independent chair- man they offered to allow him to appoint a chartered accountant to go into the figures. This offer has been made to other chairmen, but up to the present has not been taken advantage of. So far as the coal owners themselves are concerned, if the independent chairman requires a verification of the figures as to the increased cost of production, they are still willing that he should appoint his own accountant to make an investigation. First-class Admiralty coals are still entirely reserved by the Govern- ment, and seconds are nominally quoted at 33s. to 34s., with ordinaries at 30s. to 3?s. Monmouth shires are in sympathy, Black Veins being 33s. to 35s., western valleys 32s. to 33s., and easterns 30s. to 32s. per ton. There is a dull market with regard to bituminous coals, No. 3 Rhondda being 34s. to 35s., No. 2 29s. to 31s., and other grades in proportion. There has been a corresponding weakness in the sn ail coal market, best bunkers being only 24s. to 25s., ordinaries 23s. to 24s., and cargo qualities 19s. to 22s. Patent fuel ship- ments last week only amounted to 23,745 tons, the bulk of which was shipped by Swansea, and the Crown Company at Port Talbot. Prices are rather easier, best grades being 42s. to 43s. 6d., and secondary qualities 40s. to 42s. Pit wood is fairly plentiful, and ranges from 43s. to 44s. per ton. Prices f.o.b. Cardiff (except where otherwise stated). Lydney. _______________ Forest of Dean. COAL. Reports from the collieries in this district go to show that there is still a very heavy demand ruling for house- hold coals in spite of the increase in quotations mentioned last week. The production at each colliery is readily absorbed, and delay in despatching supplies is inevitable. Orders for the railborne districts are still very numerous, but the heavy gales are playing havoc with the shipping department. The steam coal pits are all fully employed, and the demand takes away all the coal raised. Prices at pithead. i Current L’st week’s Last year’ House coals:— prices. prices. prices. Block 24/ 21/6 Forest ! 23/ 23/ | 20/6 Rubble 23/3 23/3 i 20/9 Nuts ....... 21/6 21/6 , 1 19/ Rough slack Steam coal — 13/ 14/ 11/6 Large ■ 20/ 20/ 18/ -19/ 14/ -15/ Small ... ; 17/ • 17/ -17/6 Prices 2s. extra f.o.b. Lydney or Sharpness. _____________________________ Prohibited Swedish Exports.—The Swedish Chamber of Commerce for the United Kingdom has been informed by the Swedish Board of Trade that the following articles have been added to the list of goods the exportation of which from Sweden to all countries and also in transit through Sweden is now prohibited :—Wood tar and pitch thereof, tar water, tar oils, and purple ore containing at least 1 per cent, copper. Institution of Engineers and Shipbuilders. — The opening meeting of the Institution of Engineers and Shipbuilders in Scotland for the 1916-1917 session was held this week. During the session the following, among other papers, were read :—“ Chain Belt Conveyors,” by Mr. W. H. Atherton; “ The Problem of Cross-Atlantic Flying,” by Mr. J. Blin Desbleds; ” Electric Vehicles and their Application,” by Mr. L. Broekman; “ Notes of Design and Construction of Steam Turbines,” by Mr. J. P. Chittenden; ” Screw Propellers in Air and Water,” by Mr. F. W. Lanchester; and also a paper on the re-construction of Kingston Dock, Glasgow. Prices f.o.b. cash 30 days. Current L’st week’s Last year’s Steam coals:— prices. prices. prices. Best Black Vein large... 34/ -35/ 35/ -36/ 18/ -18/6 Wes tern-valleys, ordin’y 33/ —34/ 34/ -35/ 17/6-18/ Best Eastern-valleys ..J 32/ -33/ 34/ -35/ 16/6—17/ Current L’st week’s Last year’s Steam coals:— prices. prices. prices. Best Admiralty steam1 coals ............. —* —* -* Secondary do. ...i 30/ -32/ 30/ -32/ 16/ -16/6 Best small coals ......I 23/ -25/ 24/ -26/ 11/ -12/ Secondary do........j 21/ -23/ 22/ -24/ 9/ —10/ Inferior do........; 20/ -21/ 20/ -21/ 6/6- 8/ Screenings ..........i 24/ -25/ 25/ -26/ 11/6-12/ Through coals ........; 24/ -25/ 24/ -26/ 14/ -15/ Best washed nuts_____ , 28/ -30/ 29/ -30/ 14/ -14/6 Other sorts:— ; ! Best house coal........I 24/ -26/6 24/ -26/6,22/ -24/ Secondary do.........i 22/ -24/ ' 22/ -24/ '21/ -22/ Patent fuel ..........; 40/ -43/6 40/ -43/6'26/ -28/ Furnace coke..........i 50/ -52/6 50/ -52/6 30/ -32/ Foundry coke ........| 57/6-60/ ! 57/6—60/ j 36/ -38/ Cardiff. COAL. Superior seconds ...... —* —* — Seconds .............. 33/ -34/ 35/ -36/ — Ordinary steams ......t 30/ -32/ 34/ -35/ 17/6-19/ Best bunker smalls....J 24/ -25/ 25/ -26/ ! 10/ -11/ Best ordinaries........' 23/ -21/ 23/ -24'6 9/ -10/ Cargo qualities........1 19/ -22/ ; 21/ -22/6 6/ - 8/ Inferior smalls ........1 19/ -20/ ! 20/ -21/ 5/ - 5/6 Best dry coals ........ 32/ -33/ 32/ —33/ 23/ -24/ Ordinary drys ........» 30/ -32/ . 30/ —31/ 20/ -22/ Best washed nuts ....i 31/ -33/ 32/ -33/ 25/ -27/6 Seconds ......:............__ 30/ -32/ 31/ -32/ 22/ -24/ Best washed peas......' 30/ -32/ ' 31/ -32/ 20/ -21/ Seconds ..............30/ -31/ ; 30/ -32/ ' 18/ -19/ Dock screenings ......__ — — ! 10/ -12/ Monmouthshire— Black Veins ........ 33/ -35/ (f 35/ -36/ 18/ —19/ Western-valleys ....| 32/ -33/ 34/ -35/ 17/6-18/ Eastern-valleys .... 30/ -32/ ! 33/ -34/ ; 17/ -17/6 Inferior do........i 30/ -31/ ; 30/ -32/6 | 16/ -17/ Bituminous coals :— j Best house coals (at pit)- 25/6-26/6 25/6-26/6 23/ -24/ Second qualities (at pit^ 23/6-24/6 j 23/6-24/6 22/ -22,6 No. 3 Rhondda— The past week has been one of great anxiety and uncertainty, with the result that market quotations have receded to a lower level than for many months past. The cause of the whole situation has been the tonnage question. Boisterous weather has prevailed for more than a fortnight, and arrivals have been much delayed in consequence. From this and other causes the amount of tonnage in the various docks is not nearly sufficient to meet present requirements, and for two or three days this week quite a number of tips have been idle owing to the scarcity of vessels to take the accumulated stocks, which have now completely filled the sidings. So acute has become the congestion, that collieries are threatened with stoppages owing to the shortage of wagons, and in some instances coal has been banked in order to keep the pits going. All these circumstances adversely affect the market, and when there is a pronounced downward tendency owing to difficulties of this description, buyers are not slow to avail themselves of the opportunities of securing the concessions for prompt shipment. Collieries, in most instances, refuse to modify their quotations, but middlemen, who have been compelled to accept their contractual allotments, have been glad to do business round about the limitation prices—that is, 30s. for large and 20s. for small coal. There is considerable dissatisfaction on the part of colliery owners and exporters with regard to a clause in the scheme issued by the Board of Trade a few days ago. One paragraph provided that the shipper or charterer should be liable for demurrage both at the port of loading and discharge, the latter provision being contrary to all practice and custom. It is stated that this clause was inserted without consultation with the coal owners and exporters, and even the chairman of the Cardiff Shipowners’ Association (Mr R. O. Sanderson) has described the proposal as “rotten.” Under existing conditions the ship- owner has a lien on the cargo for freight and demurrage, but in the new proposal the exporter is responsible, but may recover from the consignee. Those who have any acquaintance with Italian law will know what that means. There are about five courts to pass through before a final decision may be given, and the process might extend over a series of years. The innovation is being vigorously opposed by local exporters, and will only be accepted or agreed to in the case of a Government guarantee of indemnity. A further meeting of the parties interested is being held on Friday this week, and it is looped that at that conference an amicable settlement of the difficulty wrill be arranged. Shipments from the Bristol Channel last week amounted to 360,895 tons, compared with 293,584 tons in the corresponding week of last year, or an increase of 67,311 tons. Of these quantities over 772 per cent, was shipped in foreign vessels, and less than 221 per cent, in British owned craft. Chartering during the week was very unsatisfactory, the recorded amount of tonnage taken up being only 69,910 tons, against 82,940 tons in the preceding ________ six days, or a decline of 15,030 tons. This is, of course, altogether outside the the shipments on Admiralty account, and it is reported that several further vessels have been brought into the Admiralty service this week, with the consequent dislocation of local arrangements. So far as prices are concerned, the quotations given are purely nominal, and although very little new business is being entered into, it is reported that few transactions have been completed at more than limitation prices. Some colliery owners state that they will not accept less than the limitation rates on any account, and will prefer to render the collieries idle rather than incur the loss which must result at selling below these figures. On the matter of the cost of production there is a wide divergence of opinion between the owners and the miners. The latter have decided to demand an increase of 15 per cent, in wages, and complain that the owners will not allowan audit of their books to see what the actual cost of production amounts to. In opposition to this statement, Mr. Finlay Gibson, the secretary of the coal owners, points Bituminous large...< 34/ -35/ i 35/ -36/ 20/ -21/ Through-and-through; 29/ -31/ 30/ -32/ 17/ -18/ Small .............• 27/6-30/ j 27/6-30/ 14/ -15/ No. 2 Rhondda— Large..............: 29/ -31/ ; 30/ -32/ 15/ -16/ Through-and-through! 24/ -25/ 25/ -26/ 13/6—14/ Small ..............' 20/ -21/ ' 21/ -22/ 10/ -11/ Best patent fuel ........__ 42/ -43/6 ■ 42/- 44/ 27/6 Seconds ................; 40/ -42/ | 40/ -42/ 23/ -25/ Special foundry coke ....' 62/6-67/6 1 60/ -65/ 40/ —42/ Ordinary do. .... 57/6-62/6 ; 55/ -60/ 36/ -38/ Furnace coke .......... 50/ -55/ 50/ -55/ 28/ -32/ Pitwood (ex-ship) ..... ‘ 43/ -44/ ] 44/ -45/ ; 44/ —45/ * Nominal. IRON. There is little to be said about the iron and steel trades, owing to the fact that almost every department is now con- trolled, and prices are nominal. For tinplates under Class A and B certificates there has been a better enquiry, and slightly higher rates are now obtainable, 28s. being quoted for Bessemer standard cokes. For stock business, however, the prices are 33s. to 35s., and some makers have withdrawn from the market rather than accept lower figures. The same remarks apply to oil sizes, which are purely nominal. Shipments last week amounted to 25,502 boxes, compared with 24,386 boxes received from works, leaving 104,721 boxes in stock in the docks warehouses and vans. In the galvanised bheet trade there is no improvement, and works are busy turning out black plate and painted sheets for Government purposes. Quotations for 24-gauge corru- gateds are nominal, and the same remark applies to steel bars and pig iron, the production of which is now entirely controlled. Iron ore is steady, but the quotations are not disclosed. Spelter is rather lower at <£52 15s. per ton. Llanelly. COAL. The long delays experienced by tonnage due to the continued heavy weather is seriously interfering with the sm< oth working of the local market. Orders are plentiful, and colliery order-books aie in a satisfactory position, but as the necessary tonnage is not available to clear wagons collieries are unable to wrork full time. For prompt shipment it is possible to get supplies at slightly reduced figures. This would apply chiefly to the large anthracite qualities, and small steams. Machine-made anthracite ____________________________ __________________________ _________________ Anthracite:— Best malting large ___ Secondary do. ... Big Vein large....... Red Vein do_________ Machiue-madt 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.. Prices f.o.b. Current prices. 31 ;6-32,6 29/ -30/ 28/ -30/ 26/6-27; 6 39/6-42/6 39/6-41 6 39 6 42/ 39 6-41/6 30/ -31/ 20/ -22 14/ -14 6 6/ - 6'6 32/6-34/ 26/ -29 6 20/ -22/ 19/ -22/ L’st ■week’s Last year’s prices. 31/6-32/6 29/ -30/ 28/ -30/ 26,6-27/6 39 6-42 6 39 6 -4 1 6 40' -42; 39 6-41; 30/ -31 22/ -23 prices. 35' -37 33 -35/ 35 -37/ 30/ -32 42/ -44 43 -45; 45 -47 43 -45 6 31/ -32 19/ -20 14,6-15 8 6- 9, 6; - 6/6 2/9- 3/6 31 6-36/ 26 -29/ 20/ -22/ 25/6-27/6 22/ -24 13 -14 6 6; - 8/ 15/6-16/6