90 THE COLLIERY GUARDIAN. July 10, 1914. IRON. As usual at this period, all matters of importance are being held over to be dealt with at the quarterly meeting or subsequently thereto, consequently there is little actual fresh business to comment upon, and this brings no improve- ment in prices. At bar mills makers find it increasingly difficult to get hold of specifications, whilst the weekly supplies of foreign steel pour in unabatedly. There is no improvement in the rail department, where there is hardly any enquiry to be dealt with. Pig iron remains dull, with values unaltered. The tin-plate trade shows a little better feeling, and the outlook generally is a little more promising. Prices have improved a shade, and it is thought that the nadir of values for the time being has been passed. Following will be found latest approximate quotations :—Steel rails : heavy sections, .£6 10s. to =£6 15s.; light sections, <£6 15s. to Tinplate bars (Welsh) : Bessemer steel, <£4 10s. to <£4 Ils. 3d.; Siemens steel, =£4 Ils. 3d. to <£4 12s. 6d. Tinplates : Bessemer primes, 20 x 14 x 112, 12s. to 12s. l|d.; Siemens primes, 20 x 14 x 112, 12s. l|d. to 12s. 3d. Finished black plate, =£9 10s. per ton. Pig iron: Welsh haematite, 62s. 6d. to 63s. delivered locally. Cardiff. COAL. Up to the present the marine engineers dispute has affected the trade very much less than was anticipated, as contrary to [expectation, a considerable amount of tonnage has been available, with the result that stoppages, com- paratively speaking, have been very few, especially in the case of collieries producing the best coals. It has been currently reported during the last two or three days that the Italian lock-out has been settled, and should this be the case a steady flow of tonnage will soon be available for this market, as a large number of Italian boats are regular traders to the Bristol Channel. Freights have been on the easy side, and in the case of Genoa it was reported that a large boat had been fixed as low as 6s. 9d. In other instances 7s. has been accepted, compared with 8s. and over 10 days ago. Chartering last week amounted to 318,700 tons, or an increase of 3,600 tons compared with the preceding six days. Shipments generally, however, showed a decrease. At Cardiff they amounted to 330,393 tons compared with 375,135 tons in the corresponding week of last year. At Newport there was a decrease of 33,892 tons, at Swansea a decline of 28,713 tons, and at Port Talbot a falling off of 19,024 tons. Collieries producing best Admiralty coals are quoting as high as 22s., and as their order books are well filled, there is no prospect of materially lower prices being accepted for some time to come. The enquiry of the Greek Government for 30,000 tons for delivery during the second half of this month and during August was due on the 9th instant, and the result of the tenders will be known on the 13th. Seeing that the Greek Government have recently expended a very large sum of money in purchasing two American men-of-war, it is not probable that they will be content with anything except the best quality coal. The Russian Government are in the market for another 30,000 tons ; and, in addition to these enquiries, there is a pressing number of orders from private con- sumers, so that the outlook on all sides for best coal is particularly rosy at the present time. Outputs are con- siderably less than was expected, possibly owing to the very hot weather which has been experienced. In addition to this, there have been numerous stoppages here and there over the non-unionist question and other grievances. With regard to current prices, quotations are rather wide, and range from 21s. to 22s. for best Admiralties, the former figure being accepted in the case of shippers with prompt tonnage at their disposal. Superior seconds were strong at 20s. 6d. to 20s. 9d., and ordinary qualities remained in the neighbourhood of 18s. Monmouthshire coals |kept fairly steady, and so far not much difficulty has been experienced in obtaining tonnage for prompt cargoes. Best Black Veins command 17s. 3d., western-valleys 16s. 6d., and easterns 16s.—in each case f.o.b. Cardiff. The small-coal market has remained fairly firm except for cargo qualities, which have been done between 8s. and 8s. 6d. Best bunkers are 10s. 9d., and ordinary qualities 10s. 3d. to 10s. 6d. In bituminous coals there is little change to report, No. 3 Rhondda large being 17s. 6d. and No. 2 12s. 9d. to 13s., with other grades in proportion. The coke market continues steady, special foundry realising 27s. to 29s., ordinary 22s. Prices f.o.b. Cardiff (except where otherwise stated). Steam coals:— Best Admiralty steam coals Current prices. 21/ -22/ 20/6-20/9 18/ 10/9 10/3-10/6 8/ - 8/6 7/ - 7/6 18/ -18/6 15/6-16/6 15/6-16/ 14/6-15/ 14/6-15/ 13/9-14/ 10/6-11/ 17/3 16/6 16/ 15/3-15/6 20/ 17/6-19/6 17/6 14/6-15/ 12/ 12/9-13/ 11/ 9/ - 9/3 21/ 19/ -20/ 27/ -29/ 22/ -25/ 17/ -19/ 18/6-19/ , L’st week’s prices. 21/ -21/6 19/6-20/6 16/9-17/6 11/ 10/3-10/6 8/3- 8/6 7/ - 8/ 18/6-19/ 15/6-16/ 16/ 15 14/6 14/ 11/ 17/ -17/3 16/ -16/6 15/3-15/6 14/6-15/ 20/ 17/6-19/6 17/6 14/6-15/ 12/ -12/6 12/9-13/3 11/ 8/6- 9/ 21/ 19/ -20/ 27/ -29/ 22/ -25/ 17/ -19/ 18/6-19/ Last year’s prices. 20/6-21/ 19/ -21/ 18/ -18/6 10/6-11/ 9/9-10/3 8/6 7/ - 7/6 18/ - 19/ 15/ -15/9 16/6 15/6 14/6 13/6 10/ 17/9-18/ 17/ -17/3 16/6-16/9 15/9-16/ 20/ 18/ 17/ -17/6 14/9-15/3 12/ -12/6 13/3-13/9 11/6-12/ 8/ - 8/6 22/ -22/6 20/ -21/ 30/ -31/ 26/ -28/ 22/ -24/ 22/6 Superior seconds Ordinary do Best bunker smalls Best ordinaries Cargo qualities Inferior smalls Best dry coals Ordinary drys Best washed nuts Seconds Best washed peas Seconds Dock screenings Monmouthshire— Black Veins Western-valleys Eastern-valley s Inferior do Bituminous coals :— Best house coals (at pit) Second qualities (at pit) No. 3 Rhondda— Bituminous large Through-and-through Small No. 2 Rhondda— Large Through-and-through Small Best patent fuel Seconds Special foundry coke Ordinary do. Furnace coke Pitwood (ex-ship) to 25s., and furnace 17s. to 19s. Shipments of patent fuel last week amounted to 35,111 tons, of which the Crown Company despatched 16,325 tons, other local makers 1,100 tons, Newport 2,400 tons, and Swansea 15,276 tons. Pitwood has been irregular, and does not command more than 18s. 6d. to 19s. per ton. IRON. There was a big falling off in the shipment of tin-plates last week, no doubt in some measure owing to the marine engineering difficulty. As a matter of fact the exports only amounted to 64,719 boxes, as against 141,629 boxes received from works, and stocks on hand in the dock ware- houses and vans now amount to 296,088 boxes. There is a better feeling abroad, however, and many makers are inclined to believe that prices have at last touched bottom. A sharp advance of between <£4 to <£5 has taken place in block tin, and manufacturers are now refusing to quote less than 12s. for Bessemer standard cokes, and in fact offers of business at rates below this figure have steadily declined. Oil plates, 18| x 14, are 12s. 3d., and 20 x 10 sizes 17s. 6d. Welsh tin bars are firm at <£4 Ils. 3d. for Siemens and <£4 10s. for Bessemer qualities. Foreign bars are being offered at 80s. at Newport and 81s. to 82s. at Swansea. Welsh pig iron continues at 61s. 6d. to 62s. f.o.t. In the galvanised sheet trade, although business as yet is not brisk, makers are maintaining a firm tone, and higher rates are being demanded for forward delivery. It is expected that a considerable quantity of Indian business will be on the market at an early date, and 24-gauge corrugateds are being offered at =£10 17s. 6d. to <£11 per ton, although in some instances slightly lower figures have been accepted. Steel rails are quiet, but there is no change in quotations. At a meeting of the South Wales and Monmouthshire Steel Workers’ Association, the report of the audit for the quarter ended March 31 last showed a reduction of 3 per cent., and the wages of the men will be reduced by this figure accordingly during the next three months. The strike at the Mannesmann Tube Works has been settled by the men employed on the new boilers agreeing to join the union. Swansea. COAL. The returns of the trade of the port last week were not good, coal continued extremely inactive, and there was a moderate export of patent fuel. A capital attendance assembled on ’Change , but there was no material alteration in the general conditions of the anthracite coal market. Swansea Valley large was again freely offered at easy prices, whilst Red Vein large was also a slow market. Machine- made nuts and cobbles displayed no movement of note, there being very little enquiry for these sizes. Rubbly culm was easy at slightly reduced figures. Duff was quiet. The steam coal market was again easy; large was dull, but smalls were firm at high prices. Prices of coal f.o.b. Swansea (cash in 30 days). Current prices. L’stweek’s prices. Last year’s prices. 21/ -23/ 21/ -23/ 21/ -23/ 17/ -18/ 17/ -18/ 18/6-20/ 15/ -16/ 15/ -16/ 16/ -17/6 12/6-13/ 12/6-13/ 12/ -13/ 21/ -22/6 21/ -22/6 21/ -22/ — — 23/ -24/ 21/9-23/6 21/9-23/9 23/ -24/ 21/9-23/6 21/9-23/9 23/ -24/ 15/6-17/ 15/6-17/ 16/6-19/ 11/J2/ 11/ 212/ 11/6-13/6 6/ - 6/3 6/6- 6/9 6/9- 7/ 3/9- 4/3 4/3- 4/6 5/6- 6/ 18/6-20/ 18/6-20/ 19/ -21/ 13/6-15/6 13/6-15/6 16/ -17/ 10/6-11/6 10/6-11/9 11/ -12/ 8/6- 9/6 8/6- 9/6 8/ - 9/6 17/ -18/ 17/ -18/ 17/ -18/6 — — 15/ -16/ 11/ -12/ 11/ -12/ 11/6-12/6 17/ -18/ 17/ -18/ 18/ -19/ Anthracite:— Best malting large (hand picked) (net)... Secondary do. Big Vein large (less 2| per cent.) .......... Red Vein large do. ... Machine-made cobbles (net) ............... Paris nuts (net) .... French do. do........ German do. do........ Beans (net) ......... Machine - made large peas (net)........... Do. fine peas (net) Rubbly culm(less 2|p.c.) Duff (net) .......... Steam coals:— Best large (less 2| p.c.) Seconds do. Bunkers do. Small do. Bituminous coals:— No. 3 Rhondda— Large (less 2| p.c.) ... Through-and-through (less 2| p.c.) .... Small (less 2| p.c.) ... Patent fuel do......... Llanelly. COAL. The coal trade is still in a very unsatisfactory condition, and there is no improvement of any extent in either values or orders. The market is exceedingly dull with a poor enquiry. Unfortunately the outlook is none too good, and it will be several weeks before any great alteration can be expected. The great slump which is being experienced in the manufacturing works is playing havoc in the bituminous, gas, and steam qualities, and it is getting quite a problem how to dispose of the make. Prices are as low as they can go. The anthracite qualities have a very indifferent demand, and prices are very low. Best large and culm are going well, but the other kinds have little enquiry. Prices this week are:— Prices f.o.b. Anthracite:— Best malting large .. Secondary do. * .... Big Vein large....... Red Vein do.......... Machine-made cobbles... German nuts.......... French do............ Paris do............. Machine-made beans ... Do. peas........ Culm ................ Duff ................ Other sorts:— Large steam coal..... Through-and-through... Small ............... Bituminous small coal... Current L’st week’s prices. 20/ -22/ 19/ -21/ 16/ -17/ 12/6-13/ 19/ -21/ 20/ -22/ 20/ -22/ 20/ -22/ 16/ -20/ 11/6-12/6 6/ - 6/6 i 4/6- 6/ prices. 21/ -22/ 19/ -21/ 16/ -17/ 12/ -13/ 19/ -21/ 20/ -22/ 20/ -22/ 20/ -22/ 16/ -20/ 11/6-12/6 6/ - 6/6 4/6- 6/ 16/ -17/ 16/ -17/ 11/ -11/6 11/ -11/6 8/ - 9/ ; 8/6 - 9/ 10/6-11/ i 10/6-11/ Last year’s prices. 21/ -23/ 19/ -21/ 17/ -18/ 12/6-13/6 18/ -20/ 20/ -21/. 22/ -23/ 22/ -23/ 19/ -21/ 11/6-13/6 7/ - 7/6 5/ - 5/6 17/ -18/ 11/6-12/6 10/ -11/ 11/ -12/ THE LONDON COAL TRADE. Thursday, July 9. The London coal trade for the past week continues very flat, and the trade doing is very slow. The returns from the depots show a very meagre quantity for delivery. Prices are down to the summer level, and in every case much below last year, but merchants are still very loth to buy. Best coals are firm, but only a very moderate enquiry is shown for cheaper qualities, especially bakers’ nuts and stove coal. The majority of the London merchants are still busy with the lowest summer prices circulars, but the reports from the various depots show that the response from the general public is not good. The singular feature of the London market is that best coals are firm, and prices unchanged. Colliery owners refuse any rebate from last year’s terms for the renewal of contracts, but the cheaper qualities of house and kitchen coals are moving very slowly, and although in many cases 6d. to 9d. per ton less than last year is offered for contract, merchants are very uneasy about buying. Spot lots are still the rule, and factors who have bought a. fair quantity at very low rates are to a very large extent ruling the market. The seaborne prices remain unchanged, and although the official quotations are largely nominal, yet the vessels arriving are still principally contract coal, and very few are offering on the open market; 21 cargoes were entered for Monday’s market, and eight for Wednesday. Manufacturing coals are firm and steady, The demand is not strong, but the current needs are gradually increasing, but small coals are somewhat easy, and the quantities offering are more abundant. Peas and slacks have been bought more freely, but the D.S. nuts are getting very plentiful, and the prices are weaker. The volume of trade doing in the shipping market is on the increase, and the coasting trade from the Humber ports is reported as firm, and prices for prompt shipment are steady. The quantities loaded up are increasing. The market recently has been very sparsely attended. Monday was a fair average, but it was soon seen that the bulk of the attenders were sellers, and comparatively few buyers. On Wednesday, however, it was unusually thin, clearly demonstrating the listless state of the market. The depression in the cotton trade is having a direct influence upon the u slacks,” and tends to release a large quantity from the Manchester market, which is offering in London, but as the majority of collieries are working short time there is very little overplus, an 1 the prices are fairly {maintained. Bakers* nuts and kitchener cobbles are very slow, and apart from the regular contract orders, very little buying is noticeable except for stock purposes, and these are invariably at special prices. From Messrs. Dinham, Fawcus and Co.’s Report. Friday, July 3. — There was no alteration in the seaborne house coal market to-day ; no sales reported. Cargoes 18. Monday, July 6.—The seaborne house coal market was quiet to-day, no Durham on offer, and no Yorkshire cargoes pressing for sale. Cargoes 21. Wednesday, July 8.—The seaborne house coal market was quiet again to-day; a cargo of Sharlston W.E. nuts and Main was disposed of, but no prices quoted. Cargoes 8. PROPOSED NEW BASIS WAGE. An important meeting of the miners’ section of the Coal Conciliation Board for the federated mining districts in England and North Wales was held on Thursday, to con- sider the proposals for a new wage basis in substitution for that of 1888. For some years the minimum wage under the Conciliation Board agreement has been 50 per cent, above the 1888 standard, and the men now propose that this 50 per cent, should be merged in the standard wage to form the new basis wage. Arrangements were made at yester- day’s meeting for a new agreement on these lines. Details of the proposals will have to be the subject of negotiations with the coal owners, but the probabilities point to the men asking for the new wage basis, when accepted, to become the minimum wage, with a fixed maximum of about 25 per cent, on the standard. This would leave the present mini- mum wage undisturbed, but would make an addition of 10 per cent, to the maximum wage. The amount of the wage known as the 1888 standard may be taken as ranging from 4s. to 5s. 9d., and the present minimum wage and the pro- posed new standard may be taken as ranging between 6s. and 8s. 3d. per day. It is hoped to arrange the joint meet- ing with the coal owners during the present month. THE TIN-PLATE TRADE. Liverpool. There has again been a better enquiry, and a fair amount of “ covering” has taken place. Prices have inconsequence hardened a little; and although the improvement which has set in is so far only slight, it looks as if the bottom has been touched—for the present, at all events. The produc- tion, however, is considerably in excess of the demand. Current rates may be called :—Coke tins : I C 14 x 20- (112 sh. 108 lb.), 12s. to 12s. l£d. per box ; I C 28 x 2a (112 sh. 216 lb.), 24s. to 24s. 3d. per box ; I C 28 x 20* (56 sh. 108 lb.), 12s. 44d. to 12s. 6d. per box ; I C 14 x 18| (124 sh. 110 lb.), 12s. 3d. to 12s. 4|d. per box ; I C 14 x 19| (120 sh. 110 lb.), 12s. 3d. to 12s. 4|d. per box ; I C 20 x 10 (225 sh. 156 lb.), 17s. 6d. per box; I C squares and odd sizes, 12s. 3d. to 12s. 4|d. basis Charcoal tins are in moderate request at 14s. per box and upwards according to tinning. Coke wasters are quietly asked for, and are quoted :—C W 14 x 20 Ils. 4£d. per box, C W 28 x 20* 23s. 3d. per box, C W 14 x 18| (very scarce) Ils. 6d. to Ils. 7|d. per box; CW 20 x 10 14s. 6d. per box. Black plate in P. and C.A. rectangles are quietly steady at <£8 15s. to =£8 17s. 6d. per ton basis. All f.o.b. Wales, less 4 per cent. A meeting of the Imperial Institute Advisory Committee was held at the offices of the Board of Trade, 7. Whitehall- gardens. S.W.. on Wednesday, at which Lord Emmott was unanimously elected chairman. We are informed that Messrs. Yeadon, Son and Company, Leeds, have received an order for a second briquette plant similar to that erected a year ago at the Bradford Sewage Works, for converting residual sewage sludge into “ Ovoid ” briquettes for boiler purposes.