20

THE COLLIERY GUARDIAN.

January 3, 1913.

Owners of house coals did not put up their prices
further, but continued to sell at 20s.

March.—The month of March was one of great
anxiety to all concerned. No coal was sent up from any
of the pits, and the shipments fell in an amazing degree.
From the whole of the Bristol Channel ports they only
amounted to 699,238 tons, as against 2,204,710 tons in
March of 1911, being a decrease of 1,505,472 tons. From
Cardiff alone the quantity of coal exported was only
403,580 tons, being a decrease, as compared with the
corresponding month of the previous year, of 1,007,471
tons. From Newport it was only 96,544 tons, a decrease
of 311,279 tons; from Port Talbot, 61,383 tons, a
decrease of 99,630 tons; and from Swansea, 129,444
tons, a decrease of 86,814 tons. But small as these
totals were, they were much greater than were antici-
pated, and proved that the output from various collieries
in the closing days of February were considerably in
excess of the requirements of shippers. For whatever
surpluses any of the collieries had there was very keen
competition, and prices went up to an abnormal height.
Before the end of March best Admiralties realised as
much as 42s. 6d. to 45s., and the same price practically
was asked for second qualities, as also for best Mon-
mouthshire and Rhondda bituminous coals. As for
small coal, bunkerings commanded from 23s. to 25s.,
according to terms of delivery. These high prices
afforded Americans and Germans an opportunity of
getting into markets hitherto supplied exclusively by
Welsh collieries, and long before the top prices had been
realised on this side of the Channel, American coal was
being offered to Mediterranean ports at about 14s. f.o.b.,
or including freight, 37s. to 38s. per ton. The German
collieries were, of course, in a much better position to
compete in the Northern France and Spanish ports,
and that they did so very successfully was evident
from the fact that from the commencement of
the year to the beginning of March no less
than 160 cargoes were despatched from Rotterdam to
markets previously supplied by the Welsh collieries.
The stoppage of the mines had, of course, a paralysing
effect on almost every industry in the country. Tens of
thousands of men employed at the docks and at the
various iron and steel and tin-plate works were rendered
idle through the failure in the supply of fuel, and all
railway traffic was considerably curtailed. The com-
panies refused under any circumstances to carry heavy
goods, whilst a large number of passenger trains
were entirely discontinued. Before the end of March,
on a vote by ballot, the men declared by an overwhelming
majority in favour of resuming work pending the settle-
ment of the minimum rates of wages by the district
boards, and some of the men employed at non-associated
collieries at once began to go down the pits. This had
a marked effect upon the market, and a few sales were
made for May delivery on the basis of 25s. for best
steam coals, though buyers found that sellers were still
extremely loth to reduce their figures for prompt ship-
ment.

April.—The month of April witnessed a rapid
approach to something like normal conditions. Imme-
diately the National Federation declared the strike at
an end, there was a partial recommencement of work.
The intervention of the holidays prevented anything
being done on Easter Monday, but on the following day
some 10,000 men presented themselves at the mines, and
each subsequent day showed an increase. Buyers began
to come into the market with offers of 21s. for
best, and 18s. 6d. to 19s. for second Admiralties, for
delivery over the succeeding three months, but though
one or two middlemen were found ready to entertain the
proposals, none of the collieries would consider them.
Despairing of doing business with the Welsh owners,
the Danish State Railway authorities entered into
negotiations with the Westphalian Syndicate, who
eventually succeeded in obtaining an order for 90,000
tons of locomotive coal at about 23s. c.i.f. Some of the
Welsh patent fuel companies managed to sell 22,750
tons of briquettes at 24s. 6d. to 25s. c.i.f. At first there
was but little enquiry from either English or other
buyers, as large quantities of coal were still being sent
from Germany and American collieries. Apart from
the supply of about 50,000 tons,of German coal for
London depots, it was estimated that from the Japanese
coalfield about 35,000 tons had still to be delivered to
Bombay, Colombo and Singapore, whilst the adminis-
trators of the Egyptian State Railways had to receive
four or five months’ supplies from America. Weil nigh
the whole of this business was lost to the Welsh coal-
field through the lamentable labour unrest Early in
the month Welsh steam coals for very prompt
shipment were sold at from 24s. to 25s., second
Admiralties at 21s. to 22s. 6d., bunkerings at
14s. to 15s., and cargo qualities at 12s. 6d.
per ton. Much more business would no doubt have been

done but for the high rates quoted. At one time about
300 steamers were lying in the various docks, and as
tonnage almost daily accumulated, shipowners began to
be anxious about the employment of their vessels.
The result was that a sharp fall took place in rates.
Genoa, which in February could not be booked under
14s. 6d., fell to 8s., and even to 7s. 9d.; Port Said
dropped to 7s. 6d., as against 13s. in the pre-strike days ;
Constantinople was done at 8s. 6d., as against 13s.; the
Danube at 9s. 6d., as against 12s. 9d.; Marseilles, 8} fr.,
as against 15 fr.; Venice, 8s., as against 15s. 6d.; the
River Plate, 15s. 9d., as against 24s. 6d.; and others
in proportion. One of the most notable features of
the market was the long loading turns arranged with
shippers. Before the end of the month the miners at
many of the collieries were turning out as much coal as
before the stoppage. Still, the shipments for April were
greatly below the average. From the whole of the ports
in the Bristol Channel they only amounted to 476,931
tons, as against 1,900,977 tons in the corresponding
month of 1911, being a decrease of 1,424,586 tons.
From Cardiff alone the shipments were 341,789 tons,
a decrease of 239,659 tons ; from Port Talbot, 15,066
tons, a decrease of 109,094 tons; and from Swansea,
25,619 tons, a decrease of 193,405 tons. In rpany cases,
however, the production of coal was in excess of the
normal, and owing to ready tonnage not being available
it had a weakening effect on prices. In the last week
of the month, best steam large sold at 21s. 6d. to 22s.;
seconds, 20s. to 20s. 6d.; best bunkering small fell to
13s. 6d.; best ordinaries, 12s. 9d. to 13s.; cargo qualities,
Ils. 6d. to 12s.; whilst cheaper grades were obtainable
down to 10s. Monmouthshire Black Vein coals also
sold at from 20s. to 20s. 6d.; Western Valley, 19s. 9d.;
and Eastern Valley 18s. 9d. f.o.b. Cardiff. There was
considerable dissatisfaction with regard to the price of
house coals. Before the strike, best qualities were sold
at 18s. at the pit mouth. Afterwards two advances were
made of 2s. each, and eventually the price was put up to
25s. Householders complained that when coal was sold
by the collieries at 18s., they were able to fulfil their
requirements at 23s. per ton; and when the collieries
sold at 25s. they naturally contended that they ought
to have been able to purchase at 30s., instead of which
they were charged by dealers at the rate of 2s. 6d.
per cwt. So great was the dissatisfaction that attempts
were made, and in many cases successfully, to obtain
supplies from Cannock Chase and the Midland districts.

May.—In the month of May there was a considerable
increase in the shipments, the total quantity of coal
exported from the Welsh ports to foreign countries
being 2,545,999 tons, or 164,866 tons more than in the
corresponding month of 1911. From Cardiff alone the
quantity shipped was 1,764,427 tons, an increase of
253,156 tons ; but Newport only exported 364,696 tons,
a decrease of 72,691 tons; whilst from Swansea there
was a decrease of 14,058 tons. Of course, most of the
coal despatched was under contract. There was very
little fresh business doing, and consequently prices
continued weak. This was the more disappointing,
because the British Admiralty required so much coal
for their depots, the tonnage taken up by them being
over 100,000 tons, and coasting freights went up about
9d. per ton. Tonnage was more plentiful owing to a
large number of vessels having come through the
Dardanelles, and occasionally the docks were so con-
gested that quite a number of shippers incurred heavy
demurrage charges. In the first week of the month
there were no less than 250 vessels docked at Cardiff
and Barry. Unfortunately the production of coal was
in excess of the tonnage available, but whilst this
operated favourably for the shipowners it had a
depressing effect on prices. Best steam large, which at
the beginning of the month commanded from 21s. 6d.
to 22s., at the close fell to 18s. 3d., and even 18s.
Second Admiralties receded from 20s. to 17s. 6d., and in
other descriptions there was a proportionate decline.
For at least a fortnight freights steadily advanced, and,
in some instances, exceeded the top figures paid for the
past 10 years. It is true that Genoa, which in February
touched 14s. 6d., fell to 13s., but even that figure was 2s.
above the highest rate recorded in 1911. Algiers went
up to 14 fr., or | fr. more than during the boom in
February, and IJfr. above the rate ruling in
1911. Marseilles commanded 14| fr., or 1 fr. higher
than in 1911; Port Said 12s. 6d. or 2s. 9d. higher, while
Venice, which since February had gone back from
15s. 6d. to 14s. 3d., was still 2s. 3d. above the 1911 rate.
The rise in freights to Italian ports was attributed
mainly to the Government of that country, as, whenever
they required a boat, they did not scruple at either 6d.
or even Is. advance. Baltic rates advanced Is. 6d. to
2s., whilst freights to South America, though several
shillings below those ruling during the boom in February,
were still much above the normal. Some of the

contractors who had made agreements at high figures
on a c.i.f. basis lost heavily. Others who had been
fortunate enough to buy coals at prices ranging from
15s. 6d. to 17s. per ton were in a position to capture
almost every order that came into the market and yet
realise a good profit. The dilatoriness, however, with
which foreign buyers came forward, was somewhat
surprising. It was known that their depots were very
low, and yet even when the freight market showed signs
of stiffening, and they were able to buy coal at Is. to
Is. 6d. per ton less than a week or 10 days previously,
they confined themselves to purchases of a hand-to-mouth
character. The Russian Naval authorities placed
contracts in at least three cases foi 25,000 to 30,000 tons
of best steam coals for delivery over the following three
months at prices ranging from 17s. 3d. to 18s. f.o.b.
Hitherto they had bought coal on a c.i.f. basis, but in
future they have decided to buy f.o.b., and do their own
chartering. Among other contracts placed was one by
the Austrian Marine for the supply of 40,000 tons of
Star patent fuel at 17s. 6d. to 18s. per ton. The Italian
State Railways again placed orders with collieries
in the North of England for 20,000 tons of coal.
This caused much disappointment to the Welsh
owners, as, with the improved labour conditions, it
was expected that this business would again come
to the district. The small coal market was distinctly
firmer, and in the latter part of the month bunkerings
realised from 10s. to 10s. 6d., and cargo qualities from
8s. 3d. to 8s. 9d. per ton. There was, however, very little
doing in Monmouthshire coals, and Black Veins were
obtainable at from 16s. to 16s. 3d., Western Valleys
15s. 6d. to 15s. 9d. and Eastern Valleys 14s. 9d. to 15s. 3d
f.o.b. Cardiff. The wages question again came
prominently to the front, when Viscount St. Aldwyn, as
chairman of the District Board, gave his first award
under the Minimum Wages Act. This led almost to a
strike of the workmen’s representatives on the Board*
but eventually they thought better of the matter, and
the revision of the wages schedule proceeded. Whilst
this was in progress, the Conciliation Board met to con-
sider the men’s application for an advance of 5 per cent,
and the coalowners’ application for a reduction of 1| per
cent. After each side had placed their views before the
Board, Lord St. Aldwyn intimated that in his view
neither party had made out their case; but he con-
sidered the men were entitled to some advance, and
suggested they should reconsider their relative positions.
The employers thereupon—though they declared that
to keep their pits in a proper state of repair during the
strike had involved them in an unremunerative
expenditure of about £300,000—withdrew their original
application for a reduction and offered the men an
increase of 2| per cent. This the workmen’s repre-
sentatives refused, as they considered that the coal-
owners had made nearly £200,000 extra profit by the
enhanced prices which they obtained during the strike.
In the end Lord St. Aldwyn said he had no alternative
but to decide against them.

June.—Throughout June the dominating feature of
the market was the scarcity of tonnage, and freights
naturally continued very firm. In the early part of the
month as much as 12s. was paid for a prompt boat for
Port Said, as against a normal current rate of 10s. 6d.
The same figure ruled for Naples, whilst for Algiers
13| fr. was paid. Arrivals of tonnage were not nearly
sufficient to provide full work at the collieries, and
notwithstanding that most of the best firms were over-
sold, they had frequently to suspend operations. It
was hoped that the requirements of the Russian Marine
would have relieved the situation, but the tenders sent
in were evidently deemed unacceptable, and one of the
military attaches was despatched to Cardiff to arrange
purchases. The only contract placed, however, was with
the Albion Colliery Company for the supply of from
40,000 to 50,000 tons at a price approximately about 18s.
f.o.b. The only other contract placed of any importance
was that by the French Marine for 10,000 tons of Nixon’s
Navigation coal for delivery at Toulon Naval Harbour.
It was provided that the coal should be carried by
Messrs. Lysberg Limited in French steamers, and the
price paid was understood to be about 35 fr. c.i.f.,
equivalent to about 28s. per ton. A good deal of interest
was evinced in the competition by American companies
for the delivery of coal to the Mediterranean, but
judging from what transpired about the middle of the
month, the Welsh coalowners had evidently not much
to fear. Some time in April a large cargo of American
coal was sent on speculation to Italy, but after lying in
one of the ports for three weeks, during which every
attempt was made to dispose of it, the steamer had to
depart with its cargo still on board, bound, it was believed,
to some South American destination. This was very
significant as to the opinion held by Italian buyers with
regard to American coal.