394 THE COLLIERY GUARDIAN. August 23, 1918. words in the past. It was seriously believed, for example, that the employment of machinery meant the creation of unemployment. This fallacy was closely connected with the notion that an increase in individual output must inevitably lead to over- production and loss of wages. The example of America, where Mr. Gompers asserts there has not for 30 years been any restriction of output, and where machinery has been regarded almost as a fetish, is a sufficient contradiction of the soundness of these doctrines. If more is wanted, it is enough to consi der the wages earned in an eight hours day in the United States by a crowd of Poles, Letts, Slavs, and others, who could not in their own country earn more than the barest pittance by working from sunrise to dusk. This result has not been reached by labour in the Marxian sense,, but by the employment of capital, invention and direct- ing ability. If capital is harmful to labour, says Mr. Turner, why is the whole geographical move- ment of labour towards capital and not away from it ? By harmonising to the full extent the powers of man, of management and of machinery, pro- duction is increased and prosperity assured,. and at the same time the demand upon individual workers is diminished rather than increased. To m^ny, these assertions may seem to be mere platitudes; but we agree with the author of this little book that such truths cannot be too forcibly expressed for the purpose of combatting the nonsense too often preached by tub-thumpers at our street corners. We pass over several chapters of Mr. Turner’s book in which these arguments are rubbed in with merciless directness, and we turn to his examination of the question of profits. Starting from the principle that prosperity depends upon production, it follows that social well- being and contentment can only be secured by increasing production. Whatever view may be taken of the distribution of the profits of production, it is at least certain that both labour and capital get more when production is high. We have, therefore to choose, says the author, whether we will travel the path towards our social ideals with the benefits of high production or with the penalties of low output. A good object lesson exists in a comparison of the condition of the workers in Russia and in the United States before the war. The real quarrel, says Mr. Turner, of those who denounce profits as evil in themselves is with Providence and not with our industrial system. Profits are the only known stimulus to produc- tion. They are the sunshine of the industrial garden. But profits include a great deal more than interest on capital. Salaries, wages and other items are part and parcel of the same surplus. Industry cannot exist without profits, and it is folly to quarrel over the manner of division until the surplus has been secured. India and China are countries of great latent wealth, where capitalists are few, and the average income of the native is about 40s. a year. America has the largest capitalist class in the world, and the workers probably enjoy greater wealth and prosperity than in any other country, possessing an average income between £150 and £200 a year. Bare facts of this kind are the best answer to those who refuse to recognise the identity of interest between capital and labour. It is not necessary to appeal to idealism when concrete arguments are available. It is not the destruction of the capitalist system that is required but that of its abuses. The final pages of Mr. Turner’s book are devoted to an examination of the Government’s proper role in industrial development, and of the corresponding responsibilities of democracies. The keynote of the whole argument is a recognition of the policy of high and scientific production, upon which alone our future well-being will depend. Coal Production, January-June. — According to an official estimate, the coal production in the United Kingdom in the quarter ended March 31 amounted to 60,246j600 tons (a decrease of 4,054,000 tons on the corre- sponding period last year), and in the second quarter 56,859,000 tons (a decrease of 5,410,000 tons on the corre- sponding quarter in 1917). The net decrease was 6-3 per cent, in the first quarter, and 8-7 per cent, in the second quarter. Prime Minister and Importance of Saving Coal.—Mr. Lloyd George, opening a Red Cross fete at Criccieth, on Wednesday, dealt mainly with the question of coal, which, he said, was needed both by France and ourselves, and he appealed to miners to put forth extra exertions. He also advised the people to make a special effort to use wood for fuel so as to save coal for the factories, munition works and shipbuilding yards. Those who had got wood should sell it, and all who could should buy it. The war was a business we had got to go through; otherwise we should not have begun it. Ironstone Area Tank Week. — Recently a “tank” visited Scunthorpe, Lincolnshire, in connection with an Ironstone Area Tank Week. The Redbourn Hill invest- ments amounted approximately to £100,000. The Red- bourn Hill Iron and Coal Company Limited, invested £50,000; Messrs. Walter Scott and Middleton Limited, £20,000; Mr. Frank Thomas (chairman of the Redbourn Hill Iron and Coal Company Limited), £12,000; and the staff, through their own War Savings Association, £3,351, which, together with the individual investments of directors and the higher officials of the company, made the total about £100,000. The generosity of Mr. Frank Thomas, in making a free gift of one certificate for every three purchased by the employees at Redbourn caused an extra 1,456 to be bought, and by making the same offer to the men at a certain aerodrome, he was chiefly respon- sible for another 300 being purchased. THE COAL AND IRON TRADES. Thursday, August 22. Scotland.—Western District. COAL. The scarcity of supplies is still the dominating feature in the Scotch coal trade. Difficulties in transit, too, are being met with and delay caused thereby at the ports. The demands for fuel are as large as ever. Owing to the local requirements and the existing dearth of supplies, collieries are not able to overtake half of the shipping orders offered. Shipments for the week amounted to 99,322 tons, against 102,002 in the preceding week, and 138,995 tons in the same week last year. Prices f.o.b. Glasgow. Current L’st week’s Last year’s Steam coal prices. 34/6 prices. 34/6 prices. 27/6 Ell 32/6-35/ 32/6-35/ 26/6-28/ Splint 35/ -37/ 35/ -37/ 28/ -30/ Treble nuts 30/ 30/ 23/ Double do 29/ 29/ 22/ Single do 28/ 28/ 21/ IRON. Activities in the Scotch iron trade are maintained, as far as the supplies of labour and materials allow. Pig iron is unchanged. Hsematite is still the chief feature, and is in constant demand. Other brands are becoming very scarce- Foundry quality is particularly stringent, and the export turn-over in this sort has almost entirely disappeared. Values are firm and unaltered. Monkland and Carnbroe f.a.s. at Glasgow, Nos. 1, 140s., Nos. 3, 135s.; Govan, No. 1, 135s., No. 3, 130s.; Clyde, Summerlee, Calder and Langloan, Nos. 1, 150s., Nos. 3, 145s.; Glengarnock, at Ardrossan, No. 1, 140s., No. 3, 135s.; Eglinton, at Ardrossan or Troon, and Dalmellington, at Ayr, Nos. 1, 145s., Nos. 3, 135s.; Shotts at Leith, No. 1, 150s., No. 3,145s. per ton. Malleable iron makers have plenty of business. The raising of prices has had no effect on the volume of orders, and the call for all sizes and sections is undiminished. Export prices remain about £16 5s. per ton. The pressure in the engineering shops and at the shipyards is unabated, Nail makers have large orders on hand for home consumers. Scotland.—Eastern District. COAL. Collieries in the Lothians have no difficulty in disposing of output. All qualities are fully booked, while very good prices are being obtained for neutral cargoes. Shipments amounted to 18,241 tons against 15,950 in the preceding week and 20,571 tons in the same week last year. Prices f.o.b. Leith. Current L’st week’s Last year’s prices. prices. prices Best screened steam coal... 33/6 33/6 26/6 Secondary qualities 32/6 32/6 25/6 Treble nuts 30/ 30/ 23/ Double do 29/ 29/ 22/ Single do 28/ 28/ 21/ Tonnage continues to arrive freely at the Fifeshire ports, and first and third steams are in constant demand. The Admiralty is taking large quantities of navigations and steams. Home supplies are none too plentiful. Shipments were 40,752 tons, against 32,279 in the preceding week and 18*126 tons in the same week last year. Prices f.o.b. Methil or Burntisland. Current L’st week’s Last year’s Best screened navigation prices. prices. prices. coal 36/ -38/ 36/ -38/ 29/ -31/ Unscreened do 31/ -32/ 31/ -32/ 24/ -25/ First-class steam coal 35/ 35/ 31/ 28/ Third-class do 31/ 24/ 23/ Treble nuts 30/ 30/ Double do 29/ 29/ 22/ Single do 28/ 28/ 21/ All prices quoted apply to French and Italian business only. The aggregate shipments from Scottish ports during the past week amounted to 158,315 tons, compared with 150,231 in the preceding week and 177,692 tons in the same week last year. Northumberland, Durham and Cleveland. Newcastle-on-Tyne. COAL. The delays in the arrivals of stemmed tonnage have become accentuated. Delays are due to the congestion at Allied discharging ports. The result has been that, little by little, arrivals of expected vessels have become increasingly disappointing until, at the time of writing, the dearth of requisitioned shipping is so great that considerable quantities of coals have been thrown on the open market, and are obtainable for spot shipment by those neutrals who have vessels at their command. Unfor- tunately for the neutrals, the scarcity of Allied boats has synchronised with a poor supply of neutral steamers, and foreign customers are by no means able to take full advan- tage of the many cargoes which are now available. Only in a comparatively few instances are they in a position to arrange to take immediate delivery, even although they are being offered quite respectable discounts on current quotations. The consequence is that, for the first time for many weeks, stocks of many descriptions of coal tend to accumulate. It is safe to say that the accumulation will not long be sanctioned by the state of requisitioned tonnage supply, for within probably quite a few days a large number of Allied vessels will obtain release from their present berths, and return to scoop in all the coal that is at present being held up. Quotations to neutrals have under- gone no alteration during the week, except that best Bly th steams have been reduced by 5s., making their present price 70s. per ton, and that Durham bunkers are decidedly easier. In most cases, discounts are obtainable by those having cargo space ready. The coke market is still very firm, with the output mainly taken up for home consump- tion, and exceedingly little to spare for shipment to any destination. Prices f.o.b. for prompt shipment. Current L’st week’s Last year’s Steam coals:— prices. prices. 1 prices. Best, Blyths (D.C.B.) ... 37' -70/ 37/ -75/ ; 30/ Do. Tynes (Bowers,&c.) 36/6-70/ 36/6-70/ I 29/6 Secondary, Blyths Do. Tynes (Hastings 32/6-65/ 32/6-65/ i 25/6 or West Hartleys) ... 34/ -65/ 34/ -65/ 27/ Unscreened 30 6-40/ 30/6-40/ 23/6-25/ 20/ Small, Blyths 27/ -45/ 25/6-40/ 27/ -45/ Do. Tynes 25/6-40/ 18 6 Do. specials Other sorts:— 27/6-45/ 27/6-45/ 20 6 Smithies Best gas coals (New 32/ -40/ 32/ -40/ 25/ -30/ Pelton or Holmside) Secondary gas coals 32/ -50/ 32/ -50/ 25/ (Pelaw Main or similar) 30/6-42/6 30/6-42/6 j 23/6 Special gas coals Unscreened bunkers, 33/6-55/ 33/6-55/ 26/6-30/ Durhams Do. do. 31 l-50j 31/ -50/ 24/ -25/ Northumbrians 31/ -45/ 31/ -45/ 24/ -25/ Coking coals 31/ -40/ 31/ -40/ 31/ -40/ 24/ -25/ Do. smalls 31/ -40/ 24/ -25/ House coals 35/6-70/ 35/6—70/ 28/6-30/ Coke, foundry 49/6-65/ 49/6-65/ 42,6 Do. blast-furnace ! 49/6-65/ 49/6-65/ 42,6 Do. gas | 47/6 47,6 29/ -30/ Sunderland. COAL. The coal market shows little change. The chief feature is the growing shortage of tonnage, no doubt only tem- porary, but sufficiently marked at the moment to make prompt coal for shipment a little more plentiful. Buyers with tonnage can secure some discount from current quotations. Transactions are limited. Every description of forward coal is steadily sought after, but sellers offer sparingly at top prices. Bunker coals of all qualities are in good supply for prompt shipment, with ordinaries weak at about 42s. 6d., for next month prices are steady and unchanged. Coke is firm, with a brisk demand, and no sellers ; 65s. is offered for neutral shipment. Gas coke is steady at about 47s. 6d. all positions. Middlesbrough-on-Tees. COAL. Annual local holidays are, as usual, interfering greatly with business. With many consuming works closed for a time, there is some ease in local demand for coal; yet requirements are very heavy. The coke position shows no improvement. Continued scarcity is causing considerable uneasiness, and much apprehension is felt with regard to the near future. Great difficulty is experienced in meeting the essential needs of the blast-furnaces. Medium furnace quality is 33s. at the ovens, and low phosphorus sort, 35s. 6d. at the ovens. Demand on behalf of neutrals is very pressing and 65s. f.o.b. Middlesbrough Docks is freely offered for good foundry description, but such business is all but impossible with other urgent needs commanding attention. IRON. Local consumption of pig iron this week is small, the foundries and steel works being closed for the holidays, and consequently larger supplies are available for customers at a distance. All the pig available is quickly taken up, and distribution would be heavier if more labour were forth- coming. To relieve railway' congestion, increasing use is being made of tonnage for despatch to coastwise ports. For home oonsumption No. 3 Cleveland pig, No. 4 foundry, .and No. 4 forge are all quoted 95s.; and for shipment to France and Italy these qualities are 119s., whilst No. 1 is 99s. for home use, and 124s. for export to the Allies. Little new is ascertainable concerning east coast haematite. Home deliveries are maintained on a scale sufficient to meet absolute needs, and the system of distribution permits of fair quantities being loaded for the Allies, though exports are much below what is called for. One or two outstanding merchants’ licences for Italy are being honoured. Mixed numbers are 122s. 6d. for home use, and 147s. 6d. for export to the Allies. With the works closed for the holidays, advantage is this week being taken of carrying out much needed repairs and renewals at the various manufactured iron and steel establishments. Prices of all descriptions of finished iron and steel are very strong. Cumberland. Mary port. COAL. There is no new feature to report in connection with the coal industry in this district. The pits are all at work, and production is a little better than it has been for some weeks. There is still a big shortage, more particularly for export. Landsale is lifeless, and business at the depots is still rather quiet. The home market is very firm, and nearly all the collieries have more business on hand locally than they can cope with. More coal has been available this week for home users, but smalls are scarce, and at some of the coke plants some coal is still being crushed to keep the coke ovens going. All varieties of works fuel are in keen request. Engine fuels are very steady, and gas coal is in firm request, but only local business can be dealt with. The demand for all sorts for export is well main- tained, and Irish merchants are taking all the supplies of both Cumberland and east coast coal that they can secure. The Cumberland collieries are still unable to spare more than 1,500 tons weekly for shipment. The by-products trade is in a very brisk condition. There has been no alteration in either local or coastwise quotations. IRON. The situation has steadily improved since the holidays. Coke is now more plentiful, and smelters are receiving bigger deliveries of both foreign and native ores. A feature of the market is the great pressure of orders for both special and ordinary Bessemer iron. As yet there is no immediate prospect of any additional furnaces being lighted. Prices are unchanged, and Bessemer mixed numbers are still quoted at 127s. 6d. per ton f.o.t., with warrants at cash at 115s. per ton. Special iron is 140s. per ton, and semi-special iron is 135s. 6d per ton f.o.t. The iron ore industry in the district between Cleator Moor and Millom is very busy. All the mines are regularly employed, and production is more satisfactory than it has been for some time.