January 4, 1918. THE COLLIERY GUARDIAN. 29 THE LONDON COAL TRADE. Thursday, January 3. The London coal market has now practically resumed its normal condition since the Christmas vacation, and settled down to face the new year with redoubled energy and activity. The railway companies have brought forward a good number of the loaded wagons held back over the Christmas holidays, and supplies at the depots are fairly maintained. Very few new invoices are to hand yet, and the volume of trade is small. Happily the orders from the general public have not been so heavy during the last few weeks, except so far as the smaller consumers are con- cerned, but the trolley trade and dealers have, to a very large extent, met the pressure of orders in this direction, and although many of the merchants have had to draw on their reserves, owing to the bitterly cold weather, yet the outlook is eminently satisfactory, and the return to full working order at all the depots makes it an easy matter to cope with the orders as they now come in. Hard steam coals are at present the most restricted, and many of the works along the Thames side have had longer holidays than usual on account of the shortage of supplies. Others are taking the opportuity of cleaning up the machinery and putting the works in order. The new coal Order for the London district compelling all purchasers of more than 2 cwt. of coal per week to register with their coal merchants came into force on January 1, and all merchants and factors have in future to give a weekly return of all their sales. The Wandsworth Gas Company have issued a notice to all their customers that the price of gas will be advanced another 3d. per 1,000 cubic feet, bringing the price to 3s. Id. per 1,000. The pre-war price was Is. 9d. In the seaborne market there has been very little to report, but with the resumption of business this week it was found that 40 vessels had arrived in the River Thames during the holidays and were reported on the Friday's market, 19 for Monday, and 14 for Wednesday. As these were principally gas coals, it is fair to assume that the back of the severe pressure is broken and that supplies will now become fairly steady notwithstanding the shortage of craft. Freights still continue to range between 20s. and 21s. per ton from both the Tyne and the Humber ports. Gas works and electric concerns have had an anxious time during the holidays, and extreme difficulties have been experienced in keeping works going owing to the inadequate supplies, but slacks have been selling freely, and have largely helped to keep the works going. The distribution this week has met with a very ready acceptance, and with the return to normal conditions trade, as a whole, appears brighter. The Rail- borne Coal Factors and Wholesale Merchants' Association of London held an important meeting on Monday last at the Cannon-street Hotel, under the presidency of Mr. George Rose, to hear what had been the result of the Association’s proposals relative to the working of the Coal Transport Order, 1917, and the appointment of representa- tives of the coal factors and wholesale merchants to the District Coal and Coke Supplies Committee. The Controller had accepted the proposals, and a considerable amount of discussion took place on the better working of the wagons. The attendance on the market has been much below the usual average. In many cases the shortage of wagons has become acute, and numbers of collieries are refusing to send supplies unless private empties are sent in. Hard steam coals and double screened nuts are the greatest want at the present time. From Messrs. Dinham, Faweus and Company's Report. Friday, December 18.—Although the weather continues very cold and wintry, the seaborne house coal market was somewhat quiet, and only a moderate business was done. Monday, December 31.—The seaborne house coal market was firm, and the short supply available was readily disposed of, but no quotation obtainable. Wednesday, January 2.—The seaborne house coal market continued firm, but very little business was done. Cargoes, 14. THE IRISH COAL TRADE. Thursday, January 3. Dublin. Business is again very brisk amongst coal merchants, orders in many instances having to be refused, as there is a shortage of supplies in the city. Stocks are now very low, the quantity available for distribution being inadequate, and fears are entertained that the scarcity will become more acute. The shortage is largely due to the difficulty of shipments at the other side. Amongst those who have to go with short supplies are the bell-men. The price now obtained by them for what coal they can procure is 3s. 6d. per sack, and 50s. per ton net is still obtained for what house coal there is in stock. Some of the local firms have no steam coals to offer. The price of coke remains un- changed at 46s. per ton delivered, although there is an increase in the price of gas. The total quantity of coal arriving in the port during the past week from English, Scottish and Welsh ports was 16,980 tons. Freights from Glasgow to Dublin have advanced from 23s. to 25s. per ton. The railway companies’ stocks have been considerably depleted during recent weeks, reserve stocks having been tapped in many cases. It is stated that in October there was a reduction of 100,000 tons in the amount of coal reaching Ireland, as compared with the corresponding period the year previously. Belfast. Owing to scarcity of tonnage, supplies are only arriving very slowly at the port, although there had been some improvement in this respect before the Christmas holidays. There is a shortage of coal in many of the provincial towns, owing to the insufficient supply of railway wagons, and the consequent difficulty of distribution to these districts, a large number of orders still remaining to be executed. Prices at the moment are unchanged for house- hold coals, viz.:—Best Arley, 46s. per ton ; Orrell nuts, 45s.; English kitchen coal, 45s.; Orrell slack, 42s.; Scotch house, 41s. Gas coke is about from 42s. 6d. to 45s. per ton, and foundry coke from 63s. 6d. to 68s. 6d. per ton. Freights still rule very high. United States Shipbuilding Programme.—A recent issue of the Official Bulletin (U.S.A.) indicates that 426 vessels are under requisition. These include three colliers of 5,000 tons and under, one collier of 7,500 tons, and five colliers of 8,800 tons and under—all steel. The total dead weight tonnage of these colliers is 64,500. SOUTH WALES MINING TIMBER TRADE. Mr. J. Dyer Lewis has been elected chairman of the South Wales Pitwood Allocation Committee, and Mr. H. A. A. Phillips secretary. The preliminary arrangements for allocating all supplies of mining timber have now been made. Meetings of the committee will be held every Monday. Weekly returns will be secured from all colliery companies with respect to their mining timber require- ments. These will be sent to the committee each week, and supplies will be allocated according to stocks in sight and on hand. The Admiralty Committee and the Pitwood Importers’ Association will send in weekly lists showing the colliery companies to whom cargoes have been sent, and the quantity delivered to each company. Lists will also be sent showing the cargoes expected to arrive during the following week. The arrangements at present in force for the distribution of wood to collieries will be maintained, but the committee have full powers to divert supplies of wood in any case they consider would amount to unequal distribution. It is expected that the allocation idea will be worked very smoothly after initial difficulties have been settled, and that the scheme will prove mutually advan- tageous to both timber merchants and colliery proprietors. Imports of Mining Timber. The imports of mining timber for the week ending December 28 amounted to 16,164 loads, of which 11,826 loads were for the Admiralty Pitwood Committee and the balance, 4,338 loads, for the various importers. The actual consignments were as follow:— Cardiff {Barry and Penarth) :— Date. Consignee. Loads. Dec. 22 Morgan and Cadogan.............. 360 „ 22 Morgan and Cadogan......... 600 „ 22 Lysberg Limited.......... l,2i0 „ 24 Morgan and Cadogan......... 420 „ 24 M. M. Thompson............. 380 „ 27 Grant Hayward .............. 84 „ 27 Lysberg Limited..........10,620 „ 27 Franklin Thomas.......... 2,500 Total.....16,164 And 480 loads of firwood for Messrs. Evans and Reid Ltd. Maximum Selling Prices. Much perplexity exists as to when the Order for the maximum selling prices of wood is to take effect. The prices are to be 60s. for hard wood and 65s. for soft wood, but in the absence of definite information upon this point, market prices of pitwood this week ruled round about 75s. Much difficulty will be experienced by merchants in adhering to these figures in respect of foreign wood, and in the absence of any arrangements abroad they are naturally asking how they are going to arrange contracts with foreign sellers in order to secure a profit at the maximum selling prices. The instructions state “ after the date of this letter.” The letter from the Controller of Mines is dated December 19. Is it seriously proposed to interfere with contracts already made? If so, another committee—an Arrears of Contract Committee—will have to be formed. The following are the maximum prices which collieries are permitted to pay upon any contracts or “ spot ” or other purchases made after December 19 for the various classes of pitwood and other mining timber, and any pur- chases of standing timber must be made at such prices as will enable the colliery to conform to this schedule. These prices apply to the collieries in the counties of Brecon, Carmarthen, Glamorgan, Monmouth, Pembroke, Radnor, Gloucester and Somerset. The maximum net prices for pitwood and other mining timber — 1. Home-grown, delivered on rail at colliery sidings, or, failing rail connection, at colliery premises, and 2. French, Portuguese or Spanish ex-ship, shall not exceed 60s. per ton for hard wood and 65s. per ton for soft wood. As Spanish imports are barred owing to high policy, the inclusion of Spanish wood is peculiar. As regards collieries elsewhere in England and Wales, the maximum prices for (1) pit props in the round (home- grown timber), cut to lengths, delivered on rail at colliery sidings, or failing rail connections, at colliery premises, mixed woods must not exceed (per 100 ft. lineal) the following: - 2| in., 12s. 6d.; 3 in., 16s.; 3> in., 24s.; 4 in., 32s.; 4| in., 37s.; 5 in., 50s.; 51 in., 55s.; 6 in., 63s.; 61 in., 72s.; 7 in., 80s. In the case of collieries requiring all larch, the above prices may be increased by not exceeding 10 per cent. These prices are subject to the usual monthly account 21 per cent, discount, in accordance with trade custom. Allocation Committee’s Proposals. There are at present a number of collieries which have a stock of pitwood and other mining timber exceeding 12 months’ consumption, while, on the other hand, there are a number of collieries which have nothing like the quantity which, in view of the difficulties which are at present attendant upon the obtaining of the material, and which are likely to increase during the coming year, consti- tutes a margin of safety. Accordingly, it is considered by the authorities necessary to direct that an owner or manager of a coal mine shall not at any time put into stock, either at the mine or elsewhere, on behalf of the mine, a larger quantity of pitwood and other mining timber than represents 12 months' future consumption. In esti- mating the 12 months' future consumption, regard is to be had to the average of the past three years as modified by calculations of any past or future increase or decrease due to fluctuations in output and changes in the develop- ment of the colliery. The owner or manager of any coal mine, in the case of which there is either, at the mine or elsewhere, on behalf of the mine, as from December 19, 1917, a larger stock than 12 months’ future consumption as defined above, shall not add to stock or bring to the mine any further quantity until such stock shall be reduced to an amount below 12 months’ future consumption, as defined above. It is realised that in many parts of the country a stock to cover 12 months’ consumption is unattainable, and, further, that it might be necessary at a later date to reduce this quantity in order to enable the collieries having very much smaller stocks to bring their stocks up to a margin of safety. Such are the general rules upon which absolute control of mining timber stocks will be made. The South Wales Allocation Committee will sit every Monday and receive returns from the various committees representing the trade. These returns will show the actual quantity of wood in hand and on sight, and the same will be allocated so as to ensure equality of distribution, the committee having full powers to divert supplies. THE BY-PRODUCTS TRADE. Another restriction has been added to the number already imposed on various by-products. The Minister of Munitions announces that he has made an Order under which no person shall be permitted until further notice to purchase any tar (whether crude or dehydrated) except under licence issued by or under his authority. Licences will not, however, be required by a tar distiller, provided that the whole quantity purchased is distilled to pitch by such distiller, or by any person for the purchase of tar in quantities not exceeding 10 gals., provided that the total quantity purchased by any one person during any one calendar month does not exceed 50 gals. Except under a licence, no person shall accept delivery of or make payment for any coal tar tendered for delivery under any existing contract unless such contract was entered into prior to September 5, 1917, and is in writing, and full written particulars were furnished to the Minister of Munitions before October 1, 1917, by the person entitled at that date to deliveries thereunder; or for any water-gas tar rendered for delivery under any existing contract unless such contract is in writing, and full written particulars shall be furnished to the Minister of Munitions before January 25, 1918, by the person for the time being entitled to deliveries. From the 15th inst. until further notice no person manu- facturing or producing tar shall burn or consume it for firing, steam raising, or heating purposes, nor use it for any other purpose except in accordance with the terms and conditions of a licence. The Order of the Minister of Munitions dated September 4, 1917, relating to coal tar is cancelled, but such cancellation shall not affect the previous operation of that Order, nor the validity of any action taken thereunder, nor the liability to any penalty or punishment in respect of any contravention or failure to comply with such Order prior to this cancellation, nor any proceeding or remedy in respect of such penalty or punish- ment. The Minister of Munitions has also made an Order pro- viding that from January 10 no person shall until further notice supply to any person or take delivery of any crude solvent naphtha, solvent naphtha, or heavy naphtha except under a licence issued by the Minister of Munitions. All applications in reference to this Order, including applica- tion for licences, should be addressed to the Director of Raw Materials Supply, Ministry of Munitions, Department of Explosives Supply, Storey’s-gate, Westminster, S.W. 1. As a holiday period interrupted business, the quotations have been carried forward without any substantial change. The new official regulation regarding tar is too recent to show much influence on the market at the time of writing, but it is worthy of note that prices of late tended to rise rather than fall, despite the real difficulty of transport. Both tar and pitch suffer from this disadvantage, yet both are on a rising market. Indeed, while pitch figures at 48s. to 50s. in London, according to reports, there are instances of transactions at even higher prices, but indi- ’ vidual circumstances affect the case so much that a 50s. average may be regarded as approximately correct. As mentioned in our columns, it is far from likely that a larger tonnage will be available for shipments in the "near future. Nevertheless, holders are confident, with the result that concessions are not a feature of the business actually transacted. The present handicap on the export trade of by-products gives rise to considerations relating to the possibility of Germany being freed by peace this year to export such by-products in payment for the vast quantities of other materials it needs more urgently. In that respect the position to-day is obscure, for the German Press furnishes no trustworthy clue. The probability is in favour of con- siderable accumulations, but it is likely that these accumu- lations will not cover German requirements in many direc- tions, and that shipping, market arrangements, etc., would not be helpful even if an immediate export trade were con- templated. The outlook in this country is quite good enough to justify producers in looking forward to an active and prolonged demand. At present the tone is steady rather than brisk. Solvent naphtha commands a good sale, but, of course, the new regulation becomes a factor in the case. Heavy naphtha, naphthalenes, and cresylic acid are firm. In other directions, the business is rather slow. The latest market quotations are apended:—Crude tar : London, 30s. to 32s. 6d.; Midlands, 25s. to 26s.; North, 25s. to 26s. per ton ex gas works. Pitch : London, 48s. to 50s.; east coast, 24s. to 25s. f.o.b.; Liverpool, 22s.; west coast, 23s. to 24s. f.a.s. Solvent naphtha : Naked, London, 90-190 per cent., 3s. to 3s. 3d.; North, 2s. 9d. to 3s.; 90-160 per cent, naked, London, 4s. 6d.; North, 3s. 9d. to 4s. 3d. Crude naphtha: Naked, 30.per cent., 8£d. to 8^d.; North, 7|d. to 8£. Refined naphthalene, £32 10s. to £35; salts, 80s. to 90s. Toluol : Naked, London, 2s. 4d.; North, 2s. 3d. Creosote : Naked, London, 4^d. to 4^d.; North, 3|d. to 4£d. Heavy oil, 4^d.; liquid, 4£d. to 4|d. Carbolic acid: Crude, 60 per cent, east-coast-west coast, 3s. 4d. to 3s. 6d.; crystals, 39-40, Is. 3d. Cresylic : Casks, 95 per cent., 2s. 7d.; 97-99 per cent., 2s. 8d. to 2s. 9d. ex works London and f.o.b. other ports. Anthracene, 40-45 A, 3d. to 4|d.; B, l|d. to 2d. Sulphate of Ammonia. — Home trade proceeds on the official basis of £16 7s. 6d. January-May, all delivered net cash, or 10s. less at works. Export (nominal), £25. Nitrate of soda, ordinary to refined, quoted £27 to £27 10s. per ton, in singles, net, ex store. THE TIN-PLATE TRADE. Liverpool. The fall in block tin has brought trading in tin-plates almost a standstill the last few days, neither makers or consumers caring to commit themselves any more than they can help until the market has steadied. On present price of tin, coke tin-plates could be sold at a maximum price of about 31s. basis net, f.o.t. at works, but sellers could pro- bably be found at a shade under this. Permits for wasters are coming along very slowly, and makers are complaining that stocks are accumulating. Wasters are picked up immediately they are put on the market. Board of Trade Journal.—The Board of Trade Journal and Commercial Gazette appears this week in a new and improved form. An intimation on the front page states that no trade advertisements w’ill be inserted after March 31. The general contents comprise special articles, notes on trade, Imperial and foreign trade, Government notices affecting trade, Customs regulations and tariff changes, shipping intelligence, and commercial returns. Sir Albert Stanley, in a foreword, says the aim is to assist by friendly advice and co-operation in the gigantic task of re-establishing and increasing our trade and industries after the war.