30 THE COLLIERY GUARDIAN. January 3, 1913 Prices. Description of fuel. Per ton. January 1, 1912. Per ton. July 1, 1912. Per ton. January 1, 1913. Best Northumbrian steam coals f.o.b. Tyne... ,, ,, steam smalls „ Best Durham gas coals „ Durham coking coals „ Best Durham blast-furnace coke del. Tees-side Durham bunkers f.o.b. Tyne Foundry coke f.o.b. Tyne Best Lancashire house coals at pit „ „ slacks „ Best Yorkshire Silkstone „ Barnsley thick-seam house ,, Best Haigh Moor „ Yorkshire steam coals ,, Best Derbyshire house coals „ Large ,, nuts „ Best Staffordshire house coals „ Welsh steam coals f.o.b. Cardiff... „ Welsh small steam coals ,, „ „ Semi-bituminous „ „ No. 3 Rhondda, large „ „ ... No. 2 „ „ „ „ ... Patent fuel „ „ ... Best Welsh maltifig anthracite f.o.b. Swansea Special foundry coke, Cardiff Scotch ell coals f.o.b. Glasgow „ steam „ „ „ splint „ „ Fife steam coals, f.o.b. Methil Fife treble nuts ., ,, Hetton Wallsend, London Ils. 9d. to 12s. 5s. 9d. 12s. 6d. 11s. 6d. to 12s. 16s. Ils. 6d. to 12s. 9d. 16s. 6d. to 17s. 6d. 15s. 6d. 8s. 6d. 13s. 6d. 12s. 6d. 14s. 10s. 3d. Ils. 6d. 8s. 6d. 15s. 6d. 17s. 6d. 9s. to 9s. 3d; 16s. 17s. to 17s. 6d. 13s. 6d. to 13s. 9d. 17s. 6d. 21s. to 23s. 24s. to 25s. Ils. 6d. to 12s. 10s. 6d. to Ils. 12s. to 12s. 6d. 9s. 6d. to 10s. 9d. 10s. 9d. to Ils. 6d. 20s. 6d. 12s. 3d. 7s. 6d. 13s. 10s. 3d. to 10s. 9d. 18s. 6d. 10s. 6d. to Ils. 21s. 6d. 16s. to 16s. 6d. 9s. to 9s. 9d. 13s. 6d. 12s. 6d. 14s. 10s. to 10s. 3d. 13s. 6d. 10s. 16s. 6d. 17s. 6d. Ils. 15s. 6d. 17s. 6d. 12s. 19s. 23s. to 25s. 27s. Ils. 3d. to Ils. 6d. Ils. to Ils. 6d. Ils. 3d. to Ils. 9d. 10s. 6d. to 12s. 6d. 12s. to 12s. 6d. 20s. 15s. 6d. Ils. to Ils. 6d. 16s. 16s. 30s. 15s. to 16s. 30s. to 32s. 16s. 6d. to 17s. 9s. 6d. to 10s. 14s. 6d. to 15s. 14s. to 14s. 6d. 14s. to 14s. 6d. 12s. 6d. 14s. Ils. 18s. 18s. 6d. to 18s. 9d. 14s. 6d. to 15s. 17s. 9d. 17s. 6d. 16s. 23s. 23s. 6d. to 25s. 6d. 32s. to 33s. 13s. 6d. to 13s. 9d. 13s. 6d. to 14s. 14s. to 14s. 6d. 13s. 9d. to 14s. 13s. 6d. to 14s. 21s. 6d. Freights. January 1, 1912. July 1, 1912. January 1, 1913. Tyne to— Hamburg 3s. 9d. 4s. to 4s. 3d. 4s. Genoa 10s. 3d. 10s. 6d. 10s. Barcelona 10s. Ils. 3d. ‘ 10s. 3d. Alexandria 10s. 6d. Ils. 6d. Ils. Cronstadt — 6s. — London 3s. 3d. to 3s. 6d. 3s. 9d. 4s. Cardiff to— Genoa 10s. 9d. Ils. 6d. 10s. 6d. Bordeaux 6s. 7s. 6s. 6d. Marseilles 9s. 10s. 9d. 10s. Havre 5s. 6s. 6s. Barcelona 10s. Ils. 10s. Las Palmas 10s. 3d. Ils. 9s. 6d. Alexandria 10s. 6d. 12s. Ils. 3d. River Plate 18s. 6d. 20s. 18s. Wages. District. Northumberland ........ Durham ................ Federated area ........ South Wales and Mon.... Scotland .............. Percentage of wages above standards. .. . . Jan. 1, July 1, Jan. 1, 1912. 1912. 1913. 271 ... 324 ... 381 38J ... 424 ... 461 50 ... 50“ ... 55* 50 ... 511 - 57J 50 ... 624 ... 68J * The workmen in the Federated area have applied for an advance of 5 per cent, in wages. There never was a greater need, therefore, for those engaged in colliery enterprise to enlist all the aids of experience and science to over- come the difficulties that Nature has reared against them, by the employment of efficient machinery to cheapen the processes of mining, by care and industry to improve the attributes of their product, and by a wise selection of sites for the generation of energy to cheat distances and save their unconsidered trifles. The outlook in this respect is not unpromising ; the science of management is steadily improving, the benefits of effective organisation are being recognised more generally, and the potential value of the subsidiary products of coal is being more earnestly canvassed. Restrictive legisla- tion has, indeed, the effect of giving a consider- able impetus to such tendencies, but, at the same time, it may greatly discount their value. During the past year the rowel has been too vigorously applied. As regards the immediate future, it is not unreasonable to anticipate a continuance of good trading conditions well into the present year, and the forward business already arranged itself •assures a prosperous year in 1913. Wars and strikes may, of course, cause a reversal, but the outlook is much more cheerful than it was when we stood on the threshold of 1912. Trade Summary. The London coal market, since the resumption of work after the holidays, has been exceedingly quiet. The mild weather during Christmas week has not moved much of the stocks on hand, and merchants are concerned at the tonnage coming forward again whilst the public orders are so weak. The delivery trade is slow, and the strong demand for smalls has also moderated. Prices are stationary. The traffic is still disorganised on the railways, and business generally is small. Business at Newcastle has been subject to holiday influences, and there is considerable congestion. There is a strong demand all round. The Durham coal trade is very firm, the holiday shortage having stiffened prices. The Lancashire coal trade is steady. In South Yorkshire there is no abatement in the demand, and there is a strong call for export. There is a well-sustained demand in the West Riding and prices all round are firm. The output in South Wales has been light owing to the holidays, and chartering is slow, but enquiries are fairly numerous. Prices, however, are somewhat irregular. In Scotland holiday influences predominate. * EDITORIAL NOTE. With this issue we introduce a new feature, or rather what is not a new feature, but may, we hope, be regarded as an improvement and extension of an old and familiar feature of the Colliery Guardian. Conscious that the business man experiences an ever-increasing difficulty in finding the leisure necessary to keep himself acquainted with the current movements that concern him, and that the tabular method of expression has very positive advantages for “ him who runs,” we have instructed our trade correspondents from this date to record the current quotations of the standard descrip- tions of fuel vended in their respective districts in tabular form. In all succeeding issues two columns of figures will be given in each table, showing respectively the current range of prices and those of the previous week, thus enabling the reader to ascertain with little trouble the trend of the market at any time. At the same time the opportunity has been taken to extend considerably the information, and attention may be directed particularly to the list of London market quotations, which appears on page 31. With reference to this table, it may be well to point out in some detail the nature of the information afforded by it. With many contending influences at work it is at times a matter of great difficulty to fix the actual market price of a commodity, and this remark applies with especial significance to the coal trade, and above all to the London coal trade. The quotations given are the pitmouth prices quoted by the collieries for sales on the London market, and every care will be taken by us to secure their accuracy within reasonable limits. A word of caution, however, is necessary in regard to these prices. It is not unnatural that a large market such as London, in which coals from many districts meet in competition, should acquire a reputation as a “ dumping ground,” and the consequence is that the London prices quoted will frequently be found to be as much as 6d. per ton lower than the prices quoted for other markets, although the latter may be situated considerably nearer to the source of supply. Again, there is no wish to claim for these quotations a meaning that they do not possess. They are not a record of sales, but at all times represent the views of sellers, who frequently on such subjects are at variance with buyers. Certain of the collieries whose coals are quoted may, and do, allow concessions and discounts where the exigencies of business so demand; these may be prompted by the state of the market, the weight of stocks, the size of the contract, or other considerations, and may take the form of an abatement in price, a discount to factors, or some other accommodation. Such details, for obvious reasons, we cannot place at the service of the consumer, but we think that the prices quoted will be found to cover a large proportion of the business transacted, and to afford an accurate index of the variations in market values. It is only necessary to add that, at times wnen the market is excited and exceptionally volatile, changes in rates may occur before the Colliery Guardian reaches its readers. This fact will, we think, be readily under- stood and appreciated; but it should also be observed that a change in the market may at times have occurred before any alteration in list rates is made officially by the collieries. Where such conditions prevail, it may be necessary to give a hint in the body of the report, but no alteration will, under any circumstances, be made in the prices printed by us until such alterations have been actually confirmed by the collieries. With these reservations, we believe that this develop- ment should prove distinctly useful to such of our readers as are not themselves in close touch with the London market, and, referring to the adoption of this mode of expression in our other reports, we hope that it will prove of equal service. THE BY-PRODUCTS TRADE. Tar products.—The market is steady, but prices" are inclined to be a little easier in most products. Benzols are uncertain, 90’s now being well below 50’s. Crude carbolics firm, but crystals weak. Nearest closing values are:— Benzols, 90’s.................................... /9| to /10 Do. 50’s......................................... /10i Toluol............................................... /Il Carbolic acid, crude (60 per cent.) ............. 2/3 to 2/4 Do. crystals (40 per cent.)........................ /6 Solvent naphtha (as in quality and package)... 1/ Crude ditto (in bulk) ............................... /51 Creosote (ordinary qualities)........................ /3| Pitch (f.o.b. east coast) ...................... 43/6 to 44/ Do. (f.a.s. west coast) ........................ 41/6 to 43/6 Do. (gas companies).................................. 46/ [Bensols, toluol, creosote, solvent naphtha, carbolic acids, usually casks included unless otherwise stated, free on rails at makers’ works or usual United Kingdom ports, net. Pitch f.o.b. net] Sulphate of ammonia.—The general tone of the market is satisfactory, and prices are firm, though of course the incidence of Christmas and New Year holidays tends to make values more or less nominal. The forward market is very strong on the basis of £14 15s. for January to June delivery. Naturally the position is somewhat speculative at the moment, but producers are very firm in their ideas— and justly so, it would seem. Closing prompt prices are:— London (ordinary makes)........ ...... £13/12/6 Beckton..................................... £13/15 Liverpool................................. £14/7/6 Hull ..................................... £14/6/3 Scotch ports.......................... £ 14/ 7/6 to £14/10 Nitrate of soda (ordinary) per cwt. ... H/7J [Sulphate of ammonia, f.o.b. in bags, less 2| per cent, dis- count; 24 per cent, ammonia, good grey quality j allowance for refraction, nothing for excess.]