858 THE COLLIERY GUARDIAN May 4, 1917. year preceding the war, of which, perhaps, nearly one-third may be taken as representing the cost of bunker coal. There are also other invisible items to be considered, all of which tend to show the fallacy of concluding that an apparent adverse balance of imports as against exports necessarily has to be paid in gold. This would be so if the balance were really adverse, as might be implied by the Board of Trade figures alone. In fact, however, the reverse is normally the case, and our accumulated profits are largely represented by our foreign investments, which now assume the position of a formidable war-chest available for our present needs. The situation was admirably expressed by the Hon. Sir John McCall, Agent-General for Tasmania, in the discussion upon Mr. Crammond’s paper. The growth of the Empire, he said, had been largely brought about by the sale of its assets, such as coal. It is useful, at the present time, that this fact should be emphasised. We are on the eve of great economic changes as a result of the war. The position of the coal export trade has been brought into particular prominence during these last few years of stress, and we do not yet know how the future of this industry may develop. Let us realise, when we have won this war, how much we have owed to coal, not only as a raw material for munitions at home, but also as the mainstay of our financial strength abroad. Our readers are aware that for The twelve months past there has been Shortage Of a steadily growing scarcity of paper, Paper. and we regret that this has now become so acute that it has been found absolutely necessary to reduce the number of pages of the Colliery Guardian to the lowest limits compatible with our weekly requirements. Our first desire, however, is to maintain the utility of the journal in the interests of its many readers; and so, for the purpose of economising space, we are increasing the length of our columns at the expense of the margin of the page. The effect of this is to enable us to give considerably more literary matter per page than heretofore, whereby we are able to maintain all the existing features, and, at the same time, to effect an appreciable economy of paper without loss to our readers. Although we thus sacrifice something in the appearance of our journal, we believe that our readers will approve of the temporary adoption of this new style as a war measure only, and with the obj ect of meeting as far as possible the stringency of the existing situation. THE TIH-PLATE TRADE. Liverpool. The tone of the market is exceedingly firm, but very irregular. Quotations are difficult to obtain, most makers being fully booked, and not caring to commit themselves further in face of the increasing shortage in supplies of steel. Class A orders could possibly be placed at about the following figures:—Coke tins: IC 14x20 (112 sh. 1081b.), 28s. 3d. to 28s. 9d. per box; IC 28 X 20 (112 sh. 2161b.), 56s. 6d. to 57s. 6d. per box. IC squares and odd sizes, 28s. 9d. to 30s. basis. Charcoal tins are very firm, at 32s. 6d. basis and upwards, according to finish. In regard to wasters, restricted sizes could probably be bought at round 26s. basis, but “free” sizes would bring 34s. basis and upwards. All f.o.b. Wales, less 4 per cent. The directorate of the British Trade Bank, which has been formed to establish credit banks to help British trade after the war, consists of Lord Faringdon (chairman, Great Central Railway), Mr. A. Balfour (Sheffield), Mr. F. H. Jackson (director, Bank of England), Mr. F. Dudley Docker, Mr. W. H. N. Goschen (merchant), Mr. J. H. B. Nobel, and Sir J. Hope Simpson (general manager, Bank of Liverpool). The nominal capital is <£10,000,000. Coal Trade of Curasao. — The neutrality regulations of the Dutch Government have interfered somewhat with the coal trade of Curagao, as armed merchant ships are not allowed to land or to accept passengers or cargo. As a result, the steamers of the Leyland and Harrison Lines have ceased to make calls at Curasao. The boats of the La Veloce Line still call for coal, as armed liners have the same coaling privileges as belligerent warships. . Coal Supplies of France,—A circular has just been issued by M. Viollette, the Minister of Food Supplies, to prefects throughout France, dealing with the coal question and restricting individual purchases in the interests of national economy. The Minister instructs municipalities to divide consumption into the following six categories: Gas and electrical manufacture; municipal requirements for schools, hospitals, etc.; home consumption for cooking; home con- sumption for heating; industrial and commercial require- ments; requirements of foundries, bakers, and anthracite consumers. M. Viollette does not propose to institute coal cards generally. In many cases, however, as in Paris, for instance, he considers it desirable, particularly in winter, that municipalities should issue cards to private con- sumers. The sale of coal is to be effected by municipalities through the retail coal dealers, and individual customers are to be compelled to select their dealer, who will alone be allowed to supply them. The penalty for non-com- pliance with this regulation will be the withdrawal of the right to deal in coal. In order to prevent the accumula- tion of reserves by private individuals between now and June 15, no single household may purchase coal in quan- tities exceeding 50kilogs., or, roughly, 1 cwt., per week. THE COAL A1SD IROH TRADES. Thursday, May 3. Scotland.—Western District. COAL. Conditions in the Scotch coal trade are much the same as last week, but the tendency is not in an improving direction. In the West of Scotland district export business is poor, and though local demands are still fairly good, quantities are decreasing, while there is also a falling off in household requirements. Holders are finding difficulty in disposing of navigation sorts. Shipments for the past week amounted to 105,633 tons, compared with 94,053 in the preceding week, and 123,865 tons in the same week of last year. Prices f.o.b. Glasgow. Steam coal.............. Ell .................... Splint.................. Treble nuts ............ Double do............... Single do............... Current L’st week’s Last year’s prices. prices. prices. 18/ -24/ 18/ -24/ 28/ -30/ • 19/ -21/6 18/ -31/ 19/ -21/6 I 18/ -31/ 33/ 28/ -35/ 21/ -21/6 23/6 23/6 22/ 22/ 20/ -20/6 20/ 20/ 19/3-19/9 IRON. Activities in the various branches of the Scotch iron trade are fully maintained. In pig iron the demand for haematite for consumption at local steel works continues very large, and foundry sorts are also in large request. Private consumers have little chance of securing supplies of either haematite or foundry qualities, outputs being almost entirely utilised for war purposes. Exports are very limited, and practically composed of small consign- ments to the Allies. Stocks now amount to 3,538 tons, com- pared with 5,338 tons four months ago, and 116,098 tons at the beginning of 1916. Prices generally are firm and unchanged. Monkland and Carnbroe f.a.s. at Glasgow, Nos. 1, 125s., Nos. 3, 120s.; Govan, No. 1, 122s. 6d., No. 3, 120s.; Clyde, Summerlee, Calder and Langloan, Nos. 1, 130s., Nos. 3, 125s.; Gartsherrie, No. 1, 131s. 6d., No. 3, 126s. 6d.; Glen- garnock, at Ardrossan, No. 1, 130s., No. 3, 125s.; Eglinton, at Ardrossan or Troon, and Dalmellington, at Ayr, Nos. 1, 126s. 6d., Nos. 3, 121s. 6d.; Shotts and Carron, at Leith, Nos. 1, 130s., Nos. 3, 125s. per ton. In the malleable iron trade nothing further has been heard regarding restrictions, except that shipbuilding sizes are restricted. Outputs from departments are extremely large, and directly or indirectly for war purposes. “Crown” quality iron bars are still quoted £15 per ton net and upwards for export. All classes of engineers, especially structural, are unusually busy at present, but production could /be still further increased if supplies of sectional material were more regular. Scotland.—Eastern District. COAL. Export conditions in the Lothians coal trade are rather depressing. On the other hand, local demands are com- paratively good, and are augmented by Admiralty orders. Prices continue on last week’s level. Shipments were 20,464 tons, against 19,873 in the preceding week and 48,132 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... 23/ -23/6 23/ -23/6 35/ Secondary qualities 21/ 21/ 33/ Treble nuts 23/' 23/ 23/ -24/ Double do 21/ 21/ 22/ -23/ Single do. 19/6 19/6 20/ -21/ Collieries in the Fifeshire district have considerable difficulty in keeping things on the move. Last week's shipments amounted to 19,154 tons compared with 20,081 in the preceding week, and 51,059 tons in the same week last year. Prices f.o.b. Methil or Burntisland. Current prices. L’st week’s Last year’s prices. prices. Best screened navigation coal i 30/ 30/ 37/6 Unscreened do... 25/ 25/ 30/ -34/ First-class steam coal 25/ 25/ 35/ -37/6 Third-class do 20/ 20/ 32/ -35/ 23/ -24/ Treble nuts 24/ 24/ Double do 22/ 22/ 22/ -23/ Single do 19/ •19/ 19/6-21/ The aggregate shipments from Scottish ports during the past week reached the total of 145,251 tons, compared with 134,727 in the preceding week and 223,056 tons in the corresponding week of last year. Northumberland, Durham and Cleveland. Newcastle-on-Tyne. COAL. For a fortnight the coal trade has been very busy fulfilling official and contract requirements and despatching coal in requisitioned and time-chartered craft. The business in the local freight market has regrettably slumped once more, and exceedingly little has been doing, so that private coal exporters have had little chance of completing their undertakings. However, collieries have been very well employed indeed, and stocks of coal have been gradually melting away, until now they are very low. The result is that prices are stiffly maintained at fully recent rates. The only changes in f.o.b. quotations on the week is that gas seconds are & shade dearer, and ordinary unscreened Durham bunkers are fetching 6d. per ton more. For loading during the first fortnight of May, collieries are well stemmed, and there appears to be a sufficiency of tonnage; for later loading tonnage supplies are not so thoroughly guaranteed, but hopes are entertained that all will be well in this regard. There is a keen demand for coals for shipment over the month, and best steams are realising fully 30s. per tmi, with gas bests selling freely at 26s., and all secondary sorts of steams and gas coals moving oft at well-held prices. Nothing has yet been heard with reference to the result of the deliberations regarding the fixing of minimum prices for coals required by neutrals, nor as to the completion of contracts of the metropolitan gas companies. Prices f.o.b. for prompt shipment. Current L’stweek’sjLast year’s Steam coals :— prices. prices. 1 prices. Best, Blyths (D.C.B.) ... 30/ 30/ ! 47/6-50/ Do. Tynes (Bowers,&c.) 27/ -28/ 27/ -28/ i 45/ -50/ Secondary, Blyths 21/ -22/6 21/ -22/ ( 40/ Do. Tynes (Hastings or West Hartleys) ... 22/6 22/6 40/ -42/6 Unscreened 18/ -20/ 18/ -20/ 32/6-37/6 Small, Blyths 18/ 18/ 27/6 Do. Tynes 16/ -17/ 16/ -17/ 23/ -25/ 30/ Do. specials 19/ -20/ 19/ -20/ Other sorts:— Smithies 20/ -21/ 20/ -21/ 32/ -35/ Best gas coals (New Pelton or Holmside) 26/ 26/ 35/ Secondary gas coals (Pelaw Main or similar) 17/6-19/ 30/ -31/ 17/ -19/ 28/ -30/ Special gas coals 30/ -31/ 35/ Unscreened bunkers, Durhams 16/6-20/ 16/ -20/ 30/ -36/ Do. do. N orthumbrians 18/ -20/ 18/ -20/ 32/6-37/6 Coking coals 18/ -20/ 18/ -20/ 30/ -32/6 Do. smalls 17/ -18/ 17/ -18/ 28/ -30/ House coals 27/6-30/ 27/6-30/ 40/ -45/ Coke, foundry 40/ -42/6 38/ -40/ 40/ -42/6 44/ Do. blast-furnace 38/ -40/ , 43/ Do. gas 30/ -32/ 30/ -32/ | 26/ -27/ Sunderland. COAL. The exports from Sunderland last week amounted to 33,100 tons of coal and 595 tons of coke, as compared with 42,360 tons of coal and 1,425 toils of coke for the corres- ponding period of 1916, being a decrease of 9,260 tons of coal and 830 tons of coke. No change in value is reported, and attempts to do new business appear to be for the time being abandoned. All the old conditions remain. The general outside enquiry is smaller than it was. Producers continue to ask scheduled figures, and in most instances are prepared to accept less to secure business. Smalls of both classes are superabundant, and failing export are put into heap. Prices are unaltered. The bunker coal section is very quiet and prices easy. Coke values remain firm but unaltered. Prices f.o.b. Sunderland. Current L’stweek’s Last year’s Gas coals:— prices. prices. prices. Special Wear gas coals 27/ 27/ 36/ Secondary do. House coals:— 18/ 18/ 30/ Best house coals 30/ 30/ 47/6 Ordinary do Other sorts :— 23/ 23/ 45/ Lambton screened 28/ 28/ 47/6 South Hetton do 28/ 28/ 47/6 35/ Lambton unscreened ... 17/6 17/3 South Hetton do. 17/. 17/3 35/ Do. treble nuts 21/ 21/ 28/ Coking coals unscreened 18/6 18/ 35/ Do. smalls 17) 17/ .32/6 Smithies 21/ 21/ 35/ Peas and nuts 22/6 22/6 37/6 Best bunkers.. 18/ 18/ 39/ Ordinary bunkers Coke:— 16/6 16/ 33/ Foundry coke Blast-furnace coke (did. 40/ 40/ 45/ Teesside furnaces) ... 28/ 28/ 28/ Gas coke 31/ -32/ 31/ 26/ * Unobtainable. Outward chartering continues in a condition of idleness The dearth of neutral tonnage is unabated, and chartering is a matter of extreme difficulty. Fixtures include West Italy port (coke) 200s., Gibraltar 85s., London 20s. 6d. Middlesbrough-on-Tees. COAL. Little new is ascertainable concerning the fuel industry No news is yet forthcoming with regard to the scheme propounded at recent meetings of coal owners for improving the general condition of business in the coal trade. Colliery positions are understood to vary very considerably, but to be generally more satisfactory than they have been for some time past. A desultory business in gas coals is passing, with deliveries showing a falling off. Best Durhams are 25s. to 26s., and seconds 17s. to 18s. 6d. Bunkers are still quiet. Unscreened ordinary Durhams are 16s. 6d., good ordinaries 17s. 6d. to 18s., and specials 20s. to 21s. 6d. Smithy coals are in steady request at prices ranging from 20s. to 23s. Demand for household coal is easier. Best sorts are in the neighbourhood of 21s. for home use, and 30s. for export. Coking coal continues to be well taken up at 18s. to 19s. 6d. for unscreened kinds. There is no new feature of moment in the coke trade. Demand keeps heavy. Foundry kinds are quoted 41s. to 42s. 6d., and patent ovep. sorts 38s. to 40s. Gas-house coke is steady, with fairly good business passing at 30s. to 31s. Descriptions needed for the blastfurnaces are plentiful, but heavy local requirements uphold quotations. Thus average furnace qualities still realise the fixed maximum of 28s. at the ovens, and up to the limitation figure of 30s. 6d. at the ovens continues to be named for low phosphorus kinds. IRON. The stock of Cleveland pig iron in the public warrant stores has been reduced to 1,997 tons, consisting of 1,991 tons of No. 3 quality, and 6 tons of other kinds of iron deliverable as standard, and there are now warrants in circulation for only 1,750 tons, all of No. 3 quality. During the month of April only two changes in the stock were recorded, 30 tons withdrawal of standard iron on the 7th and 120 tons withdrawal of No. 3 on the 30th. With May allocations of Cleveland pig to home buyers, and purchasers in Scotland on a very liberal scale, and supply of trucks now fairly plentiful, home business has been opened out considerably. Many of the allocations are against running contracts, but large allotments are for new rates, and May deliveries promise to be heavy. For home consumption No 3 Cleveland, No. 4 foundry, and No. 4 forge all stand at 92s. Cd., and No. 1 is 96s. 6d. Export business is reported cn a moderate scale. Little difficulty is now experienced in securing licences for despatch to France and Italy, but permits for shipment to neutral countries are unobtainable. For shipment to our Allies No. 3 is 102s. 6d., No. 4 foundry 101s. 6d., No. 4 forge 100s. 6d., and No. 1 107s. 6d. East