822

THE COLLIERY GUARDIAN.

October 18, 1918.

THE FREIGHT MARKET.

The activity of coal shipments at north-east coast pqrts
has been impeded by irregularities in arrivals of official
tonnage, owing to -bad weather at sea and difficulties
in the securing of licences by neutral vessels, of which
there have been fair arrivals, especially from Sweden.
The sum total of fixtures over the week has been four,
all for Swedish ports. Gothenburg, from Tyne, has been
twice done at 125 kr. >and once at T20 kr., rates far and
away the lowest that have been accepted for this des-
tination for a very long time past. The fourth fixture
is for Halmstad, at the low rate of 140 kr. For all other
directions business has been nil. Orders have circulated
numerously, but there is an almost total absence of
neutral tonnage, and differences of opinion as between
shippers and ship owners as to what rates should be
appear to be holding up these markets indefinitely. At
South Wales outward chartering has been moderately
active. Most of the business done has been for scheduled
directions, but there is a larger representation of “ free ”
ports than has usually been the case latterly. Thus
Dakar has been fixed at 90s., Gibraltar several times at
100s., and Valencia twice at 300s. From other coal
shipping centres of the kingdom no fixtures are reported.

Homewards, River Plate rates remain unchanged. At
the United States the demand for tonnage, especially to
meet Allied needs, is large. New York to Liverpool
on net form of charter is quoted at the firmer rates of
230s. to 240s., with the usual increments for North France
and Mediterranean. Coal freight rates are unaltered.
Tonnage is still very scarce at the Far East, and rates are
nominally steady. The demand for tonnage for minerals,
phosphates, etc., at the Mediterranean and Bay ports is
fairly active, and rates arc well maintained at about 17s.
from Bordeaux to Bristol Channel, 20s. from Bayonne to
Bristol Channel, and 40s. from Huelva to Savannah with
pyrites. The time charter market is dull, with little
tonnage on offer-.

Tyne to Gothenburg, 2,400 and 3,300, 125 kr.; 2,100,
120 kr.; and Halmstadt, 1,700, 140 kr.

Cardiff to Bordeaux, 2,000, 69s., neutral; Caen, 900,
48s., neutral; Dakar, 3,000, 90s.; Gibraltar, 3,000, 5,200-
5,300, 6,000 and 7,000, 100s., Allied; Havre, 1,200 and
2.450, 45s. 9d., neutral; Honfleur, 800, 47s. 3d., neutral;
L’Orient, 800, 61s. 6d., neutral; Rouen, 1,300 and 1,500,
48s. 9d., neutral; and 650-700, 50s. 3d., neutral; and
Valencia, 2,000-2,200 and 3,000, 300s., neutral.

Cardiff or Newport to Gibraltar, 3,000, 100s., Allied.

Swansea to Caen, 800 and 900, 48s., neutral; 1,100,
1,200 and 1,300, 46s. 6d., neutral; Dublin, 400, 17s.;-
Havre, 800, 47s. 3d., neutral; Mortagne, 190 and 200,
120s., sail; and Rouen, 700, 50s. 3d., neutral; and 1,050,
48s. 9d., neutral.

Later.—The following additional fixtures are re-
ported :—

Tyne to Christiania, 1,400, 152| kr; and Stockholm,

3.200,	140 kr.

Cardiff to Caen, 1,200, 46s. 6d., neutral; and Rouen,

1.200,	,48s. 9d., neutral.

Swanea to Caen, 700, 48s., neutral; Fecamp, 350-400,
48s. 9d., neutral; and Rouen,-1,050-1.100, 1,400 and 1,400-
1,500, 4'8s. 9d., neutral; and 700 and 900, 50s. 3d., neutral.

COAL, IRON AND ENGINEERING COMPANIES.

REPORTS AND DIVIDENDS.

Cory (Wm.) and Son Limited.—The Treasury has sanc-
tioned the issue of 880,000 ordinary shares of £1 each,
being part of the new share capital created at the extra-
ordinary general meeting held in June last. The shares
are offered only to the existing ordinary and employees’
shareholders at a premium of 10s. per share, in the pro-
portion of three new shares for every four shares held.
The price of 30s. per share at which the issue is made
compares with a current quotation of about 33s. 8d., The
shares rank for dividend from 1st of the current month.

Dominion Steel Corporation Limited.—Dividend No. 27
at rate of 1| per cent, on preference, payable November 1.

Locket’s Merthyr Collieries Company Limited.—Divi
dend on the ordinary shares at the rate of 10 per cent,
per annum for the half-year ended February 28.

Kayser, Ellison and Company Limited.—Net profit
£30,588, as against £38,671 in 1916-17, £38,121 in 1915-16.
and £28,540 in 1914-15, and £20,482 was brought forward.
Final dividend and bonus of 15 per cent., free of tax,
making 20 per cent, for the year—the same as for the
last two years—£10,000 to reserve, and £9,070 carried
forward. It is proposed to capitalise £105,006 of the re-
serve, leaving £5,000, in addition to a special reserve of
£7,000, and give the ordinary shareholders one new share
Tor each one now held.

Kynoch Limited.—The report to March 30 last shows a
profit for the three years 1916, 1917 and 1918 of £570,837,
after providing for depreciation, all taxation liabilities,
and writing off war capital expenditure; £26,075 was
brought forward from 1915 making £596,912. Debenture
interest, debenture redemption, etc., and directors’ fees
for the three years absorbed £120,761. Dividends on
the preference shares and dividends and bonuses on the
ordinary shares, amounting to £188,675, have been paid
in respect of 1916 and 1917. An interim dividend of 24>
per cent, on the preference shares, amounting to £12,500,
was paid on December 20, 1917; a final dividend of 24>
per cent, on the preference and an interim dividend of
10 per cent., free of tax, on the ordinary shares in respect
of 1918 were paid on August 17 last, amounting together
to £62,469. It is not intended to pay a further dividend
on the ordinary shares in respect of 1918, and the directors
recommend that the balance of £212,508 be carried
forward.

Steel Company of Scotland Limited.—Report for year
ended July 11 states that settlements in respect of lia-
bilities under the Finance Acts for the last two years
have not yet been made, and excess profits duty for the
past year has still to be computed. The net profit, after
providing for all charges, depreciation of collieries and
dwelling houses, after making provision for excess profits
duty- and income tax, amounts to £125,553. After deduct-
ing £3,457 paid to dependants of workmen on military
service and adding £62.332 brought forward, the available
balance is £184,428. The directors consider it necessarv
under present conditions to provide £60,000 for depre-
ciation of steel works plant. They have placed £29,250
to reserve fund (making £500,000), and recommend a
dividend at the rate of 15 per cent, per annum, less in-
come tax, and to carry forward £39,928.

Thornycroft (John I.) and Company Limited.—The
report for the year ended‘July 31, 1917, states that the
available balance, after deduction of debenture interest

and interim dividends, is £102,337. The following divi-
dends have since been paid : 3 per cent, on preference
shares for six months to June 30, 1917, final dividend
of 10 per cent, on ordinary shares, leaving £81,547. The
directors transfer to reserve £50,000, contribute to benevo-
lent fund £5,000, and leave to be carried forward £26,547.
Creditors’ item in balance sheet includes provision for
estimated outstanding liabilities as regards munitions levy-
up to July 31, 1916, excess profits duty for the year ended
July 31, 1917, and income tax up to that date. Additions
to the buildings, plant and machinery have been included
in the accounts at the cost less writing down at the
same rate as the previous year. The directors propose
an increase of capital.

Wankie Colliery Company Limited.—Further interim
dividend of 5 per cent., less tax, in respect of financial
year to August 31, 1918.

NEW COMPANIES.

British Federation of Iron, Steel, Tinplate and Metal
Merchants (Incorporated). — Registered office: East
India-avenue, E.C. Secretary, C. T. Everett. Number of
members unlimited, each liable for £1 in the event of
winding up. The first members of the executive
council are: R. C. Hindon, A. Campbell, J. King, W.
Gracie, Sir Johnstone Wallace, K.B.E., T. Metcalfe,
C. Wiggins, C. G. Biggs, H. J. Sayer, A. S. John, J. F. P.
Mclnerny, E. B. Handley, C. J. McAllester, J. Miller,
A: H. Robinson, J. G. Buchanan, F. G. Martin, H.
Falkner, J. E. Kidd (John Kidd and Sons), G. Addy,
H. Wilkins, G. H. Cave, J. B. Lees, E. Coventry, W. J.
Onions.

□rabble and Sanderson Limited, Ebenezer Works, Mor-
peth-street Sheffield.—Private company. Registered
October 8, to carry on the business as merchants and
manufacturers of steel and any articles that can be made
wholly or partly out of steel, etc. Nominal capital,
£20,000 in 20,000 shares of £1 each. Directors : A. K.
Wilson, L. J. Coombe, D. J. Haggie, T. Darwin, and
E. N. Cooper. Qualification of directors, none. Re-
muneration of directors to be determined by governing
director.

Sacker (F. D. and L.), Limited.—Private company.
Registered office: Granville Colliery, Old Hill, Stafford.
Registered October 2, to acquire the business now carried
on by F. D. Sacker, the Granville Colliery, Old Hill,
Stafford, to .sink shafts, explore, work and develop any
collieries or iron works, patent fuel works, mines,
quarries, etc. Nominal capital, £10,000 in 10,000 ord nary
shares of £1 each. Directors: F. D. Sacker and L. Sacker.
Qualification of permanent directors, £50; others, £250.
Remuneration of directors to be voted by shareholders.

Tees Iron and Hardware Limited.—Private company.
Registered October 4, to acquire the business of iron
and steel merchants, etc. Nominal capital, £15,000 in
15,000 shares of £1 each. Directors: A. E. Pickersgill
and F. R. Pickersgill. Qualification of permanent diectors,
£500; others, £250. Remuneration of permanent directors,
£100.

This list of new companies is taken from the Daily
Register, specially compiled by Messrs. Jordan and Sons
Limited, company registration agents, Chancery-lane, E.C.

CONTRACTS OPEN FOR COAL AND COKE.

A’or Contracts Advertised in this issue received too late
tor inclusion in this column, see Leader and Last
White pages.

Abstracts of Contracts Open.

Egypt, November -15.—Fuel (1919-1920) for the
Egyptian Postal Administration. Forms from the Central
Stores, Egyptian Postal Administration, Alexandria.
Forms may be inspected at the Enquiry Office. Department
of Overseas Trade (Development and Intelligence), 73,
Basinghall-street, London, E.C.

The date^ given is the latest upon which tenders can
be received.

CONTRACTS OPEN FOR ENGINEERING, IRON
AND STEEL WORK, Ac.

Dublin, November 7.—Stores, axles, tires, tubes, iron.,
plates, castings, forgings, electric cable, wire, springs, tin-
plates, creosote oil, etc., for the Great Northern Railway
Company, Ireland. Forms from the secretary, Amiens-
street Terminus, Dublin.

COAL EXPORTS IN SEPTEMBER.

The Board of Trade returns show that the tonrage
of coal, coke and patent fuel exported during September
and the first nine months of 1918, as compared with
the corresponding periods in 1916 and 1917, was as
follows :—

Quan'iities.

1916.	1917.	1918.

Tons.	Tons.	Tons.

September ........ 3,698,566	...	3,337,534	...	2,992,327

Nine months'..... 31,442,872	...	29,438,835	...	2^,200,984

The next talde shows the values of these exports for
the same periods :—

Values.

1916.	1917.	1918.

£ £ £

September ........ 4,865,032	...	4,586,597	...	4,933,848

Nine months ..... 38,010,987	...	39,485,355	..	38,96 *,981

Prof. Bone and Fuel Technology.—Prof. W. A. Bone,
F.R.S., has asked to be relieved of his duties as con-
sv.ltant to the Fuel Research Board on October 22, in
order to be free during the coming winter to devote his
attention to plans now under consideration for the post-
war development of the department of chemical tech-
noffigy at the college. He will resume his private con-
sulting and his other work in fuel technology.

Coal Production in Venezuela.—A consular report states
that in 1917 the coal mines of' Venezuela produced 20,164
tons. In the previous year the country imported 20,600
tons. . Internal transportation is a difficulty attending the
exploitation of local mines, and primitive methods of
working also handicap output. Owing to the cost and
difficulty of importing coal from Great Britain and the
United States, the native output is expected to show an
increase this year, but it is evident that local production
will have to be very considerably increased before depen-
dence on imported supplies will cease.

ABSTRACTS OF PATENT SPECIFICATIONS
RECENTLY ACCEPTED.

118865. Apparatus for Coinpressing Air. R. H. Aitken,
Holly Bank, Dairy, Ayrshire.—This invention relates to
apparatus for compressing air, and has for its object the
pro vision of means whereby the use of separate inlet and
delivery valves are avoided. The water jacketing of the
heated parts is effectively carried out, the limits of com-
pression are capable of regulation, and the arrangement
of a number of compression devices can be disposed about
a common source of motion in a simple, cheap and effective
manner. Each compressing device consists of a cylinder
having ports forms in its wall at each end thereof, one
set communicating with the atmosphere, and the other set
with the compressed air delivery. One end of the cylinder
is left open, while the other end is closed by a cover
having attached thereto or formed integrally therewith a
cylindrical protruding portion which extends into the
cylinder so as to leave an annular space between it and
the inner side of the wall of the cylinder. Within the
cylinder a hollow piston or plunger of cylindrical cup shape
is disposed, the cylindrical portion ot which passes into
the annular space around the protruding portion of the
cover. The open end of the said cylindrical portion for
a part of its length is adapted to slide closely against
the surface of the protruding* portion of the cover, while
the portion of the length between that which slides
closely and the closed end of the piston or plunger is
recessed back to form a space or spaces between the
cylindrical part of the cover and the inside wall of the
hollow piston. In this construction a cup-shaped space
is thus formed in the cylinder and a cup-shaped joiston
or plunger to work in the said space. Near the open
end of the cup-shaped piston a series of ports are arranged
in the wall thereof which register with the ports in the
two ends of the cylinder at the in and out positions of
the piston respectively, so that at the suction stroke the
air passes from the atmosphere through the ports to satisfy
the partial vaccum produced in the cylinder, and at the
compression stroke the air compressed in the cylinder is
discharged through the outer ports into the compressed
air space. To enable this to be done effectively, the ports
in the cylinder and piston are arranged lantern fashion,
so that they form a hit and miss arrangement, to effect
which the piston is given a small motion about its axis
relative to the cylinder. This motion can be effected by
means of a groove or race in the piston body running
parallel to the axis for the major portion of its length,
and having curved or angularly disposed portions at each
end. Into this groove or race a stud or ball carried in
the cylinder wall engages, so that the piston is given a
small rotary motion about its axis at each end of the
stroke to open and close the ports. By varying the angular
position ot the groove relative to the ports in the cylinder
wall, the cylinder and piston ports can be opened and
closed at different points of the stroke. The compressing
devices are mounted in a hollow circular frame which
serves as a container for holding the cooling water. The
interior of the protruding portion of the cover can be used
also as a container of cooling water. In connection with
the circular frame are means centrally disposed for sup-
porting a driving shaft which carries an operative device
such as an eccentric adapted to drive all the pistons or
plungers backwards and forwards to perform the func-
tions described. (Three claims.)

118893. Apparatus for Use in Blasting. R. D. Harris,
Afan House, Seven Sisters, Glamorganshire.—This inven-
tion relates to an apparatus for use in blasting of the
known kind in which a detonator carrying tube is employed
adapted for the reception within its bore of a rod, the
tube being formed and provided at its lower end for the
reception of the detonator, while the rod is adapted to
slide within the tube for forcing out the detonator and
for inserting it into the hole previously made for its
reception in the explosive charge. The invention has for
its object to provide such an apparatus of simple con-
struction which is adapted for its more convenient and
effective use. The upper end of the detonator carrying
tube is provided with means for holding the upper end
of the rod until the rod is required for use in expelling
the detonator and inserting it into the explosive charge.
For this purpose the upper end of the tube has mounted
upon it a transversely disposed slotted member capable
of use as a handle, and the adjacent part of the tube is
provided with a longitudinal slot in its wall, so that the
upper diverted end of the rod which may protrude from •
the slot in the tube may serve as a means for lifting the
rod and for retaining it in its uplifted position by turning
the diverted end of the rod into the slot provided in the
handle part. The lower end of the tube is cut away or
slotted to a distance corresponding to the length of the
detonator, and at this part is provided with a lining of
material such as celluliod. Immediately above the part
of the lower end of the tube which is cut away a screw
thread is provided for the reception of the socket part of
a “ pricker,” which may be thus-screwed upon the end
of the tube, the “pricker” socket being for the purpose
provided with an axial hole to accommodate the slotted
extremity of the tube. The same screw thread may be
utilised for the reception of the socket part of a scraper,
having its end formed of a convenient shape for the purpose
of scraping the hole prior to the insertion of the explosive
chargL The same screw thread may be used for reception
of the socket part of an auger or any other tool the use of
which may be required, and which is adapted to be used at
the end of the detonator carrying tube. (Seven claims.)

118903. Treatment of Peat for Fuel. K. E. Edgeworth,
Lieutenant-Colonel, R.E., British Expeditionary Force,
I rance.—This invention relates to the manufacture of
peat for fuel, and to that method wherein the peat is
first heated to a temperature of 150 degs. Cent, or over
in a closed vessel, thereby reducing it to such a condition
that the greater part of* the water can be eliminated in
a ’filter press. Peat which has been subjected to such
treatment will be referred to as “carbonised peat.” An
improved form of filtering apparatus is provided wherein
a higher percentage of water can be abstracted from
carbonised peat than is possible with the forms of appa-
ratus now in use. The filtering elements, which are made
of unglazed porcelain or earthenware, are so arranged in
the filter vessel that they are wholly surrounded by the
substance to be filtered, whereby they are enabled to
withstand the high pressures to which they are subjected,
which is not the case when the pressure is applied from
one side or from within. The filtering elements them-
selves may be in the form of plates, discs, cones or tubes.
The filtration is carried out under considerable heat and
pressure, and it is convenient to pump the peat directlv
into the filter from the vessel in which it is carbonised,
thus saving both heat and power. When filtration is com-
plete, and while the material still retains a portion of
its heat and pressure, provision is made for suddenly
releasing the pressure within the filtering vessel, whereby