350

THE COLLIERY GUARDIAN.

August 16, 1916.

THE FREIGHT MARKET.

Outward chartering, although still very much restricted,
is rather larger in volume this week. On the north-east
coast delays in the arrivals of expected requisitioned
steamers are leaving a little more opening for neutral
business, and a slight improvement in the number of fixtures
is therefore shown. Excepting for a fixture for Bilbao at
300s., a rate which shows a stable market in that direction,
and another for Gibraltar at the old figure of 100s.,
business has bden exclusively confined to fixtures for
Swedish ports at about 225 kr. to Gefle, 197| kr. to
Gothenburg, and from 220 kr. to 225 kr. to Stockholm. A
comparison with the fixtures reported last week shows
that the Gothenburg rate is from 2^ kr. to 7^ kr. lower,
the Gefle rate 10 kr. higher, and the Stockholm rate from
5 kr. to 10 kr. advanced. Not quite so much neutral
shipping is on offer for Scandinavia. For Portugal and
Spain (Atlantic and Mediterranean) there is a fair enquiry
for tonnage, but very little on offer. Exporters appear
to have abandoned the attempt to “ bear ” the market
for these directions, and to be prepared to pay the record
rates established not long since. At South Wales loading
stems are well filled for early shipment, and little new
business is possible. The demand for vessels for forward
shipment is good, and rates all round are firm. Excepting
for a, fixture of a 3,000 ton vessel for Huelva at 290s.,
business has been wholly confined to French Atlantic
destinations at scheduled rates.

Homewards, the River Plate has rallied back to 215s.
from lower ports to the United Kingdom, with 240s. still
quoted for French Atlantic discharge. Business at the
American ports is active, with tonnage in brick demand
at recent rates. Virginia to the River Plate with coal
is quoted at 82s. 6d. Tonnage is very scarce at the
Far East, there being little doing apart from liners and
controlled vessels. At the Mediterranean and Bay ports
business is fairly good. Minerals from Bordeaux to
Bristol Channel are quoted at 18s., with 2s. more for
Bayonne loading. Bilbao to Boulogne is quoted at 60s.
For pyrites from Huelva to the United States from 35s.
to 40s. would be paid for prompt loading.

Tyne to Bilbao, 2,300, 300s.; Gefle, 2,400, 225± kr.;
2,100 and 2,500, 225 kr.; Gibraltar, 5,000, 100s.; Gothen-
burg, 800, 197| kr; and Stockholm, 1,400, 225 kr, and
1,850, 220 kr.

Cardiff to Caen, 600, 48s., neutral; Honfleur, 600, 48s.,
neutral; Rouen, 1,200, 1,800 and 1,950, 48s. 9d., neutral;
2,800, 47s. 9d., neutral; St. Malo, 1,000, 21s., Allied;
and Sables, 1,100 28s., Allied.

Swansea to Rouen, 1,400, 1,700, 1,800 and 1,850, 48s. 9d.,
neutral; Fecamp, 900, 48s. 6d., neutral; Caen, 750 and
900, 48s., neutral; and Granville, 650, 800 and 980, 48s.,
neutral.

Port Talbot to Trouville, 350 and 600, 48s., neutral.

Llanelly to St. Malo, 380, 45s., neutral.

Newport or Cardiff to Huelva, 3,000, 290.

Glasgow to Barcelona, 3,000, 360s.

Cardiff, option Newport, to Rouen, 2,800, 47s. 9d.,
neutral.

Later.—The following additional fixtures are reported:

Tyne to Christiania, 1,400 and 1,600, 180 kr.

Swansea to Rouen, 1,350, 48s. 9d., neutral.

Cardiff,' option Newport, to Nantes, 1,900, 61s. 6d.,
neutral.

COAL, IRON AND ENGINEERING COMPANIES.
REPORTS AND DIVIDENDS.

Bristol and South Wales Railway Wagon Company
Limited.—The directors have resolved to pay the usual
interim dividend at the rate of 10 per cent, per annum,
less tax.

Consolidated Cambrian Limited.—Interim of 10 per cent,
on ordinary shares, less tax, for six months ended June 30.

Crossley Brothers Limited.—Interim dividend of 6 per
cent, per annum on ordinary shares, against 5 per cent,
per annum last year.

Davis (D.) and Sons Limited.—Directors have declared
interim dividend for six months ended June 30 last at
rate of 20 per cent, per annum on the ordinary shares,
less tax—same as previous year—payable 23rd instant.

Fife Coal Company Limited.—The directors have de--
dared an interim dividend for the half-year ending June 30
at the rate of 20 per cent, per annum, free of tax. At
this time last year the distribution was at the rate of
15 per cent, per annum, free of tax.

Guest, Keen and Nettlefolds.—The report for the year
ended June 30 states that, after making provision for
liabilities under the Finance Acts, profit was £446,645;
£405,712 was brought forward, making £852,357. De-
ducting debenture interest and interim dividends on
preference and ordinary shares, amounting to £165,270,
there remains £687,087. The directors recommend a divi-
dend on the ordinary shares at the rate of 10 per cent,
per annum, free of tax, for the six months ended June 30
(making 10 per cent, for the year), also a bonus on the
ordinary shares of Is. per share, free of tax, to place
to accident and fire insurance fund £30,000, to reserve
£100,000, and to carry forward £417,587.

Henley’s (W. T.) Telegraph Works Company Limited.
•—The directors have declared a dividend on the preference
shares at the rate of 4-| per cent, per annum, less tax,
for the half-year ended June 30, also an interim dividend
on the ordinary shares of 2J,- per cent., less tax.

Horbury Junction Iron Company Limited.—Net profits
for year June 30, £17,209, and £14,519 brought forward.
Excess profits tax for previous year absorbed £8,679; divi-
dend of 10 per cent, and bonus of 2J> per cent, proposed,
to write off plant £3,500, carrying forward £14,853, subject
to excess profits tax.

Mount Torlesse Collieries (Broken River, N.Z.) Limited.
—The distributing agents’ first report on the delivery and
sales of coal and fireclay from the property states that it
was decided for the present time to sell the coal to the
wholesale merchants, the price being 29s. for screened and
22s. for small, subject to a discount of ”2s. per ton. Coal
is being sold in three grades—screened, unscreened and
small. The first coal arrived in Christchurch on May 30,
and both screened and small appeared to be fine samples,
comparing very favourably with other, coals on the market.
Orders have been received from all coal merchants south
of Rangitata, and when these have been executed, should
give a good distribution to the public generally. We have
received very good reports as to the quality of the fireclay.
Coal output for June, 925 tons.

North Central Wagon Company Limited.—The report
for the .year ended June 30 states that net profit was

£27,392, which with the amount brought forward makes
£40,792. The directors recommend a dividend for the
half-year ended June 30 at rate of 15 per cent, per annum,
less tax, making 14 per cent, for the year, less tax, transfer
£10,000 to reserve, making that fund £190,000, and carry
forward £15,321.

Powell Duffryn Steam Coal Company Limited.—The
directors have declared an interim dividend in respect of
the six months ended June 30 last of 7£ per cent, (actual)
on the ordinary shares, free of tax.

Sheffield Forge and Rolling Mills Company Limited.—
The directors state that, owing to unavoidable circum-
stances, shortage of staff and inability to arrive at any
reliable estimate for war taxation, they are unable to
present a report and balance sheet. They are satisfied,
however, that sufficient profit has been made to justify their
declaring a dividend of 10 per cent, for the year, free
of tax. The necessary procedure with respect to the in-
crease of capital has been carried out.

Yorkshire Electric Power Company Limited.—The report
of the Yorkshire Electric Power Company for the half-
year ended June 30 states that, after payment of bank
and other interest, net profits were £23,683, against
£17,617. In view of the financial conditions arising out
of the war, the directors are deferring the payment of a
dividend on the ordinary shares until the accounts are
made up for the year. The Bill to extend the company’s
powers, the promotion of which was authorised by the
proprietors at the meeting in February, has now received
the Royal Assent.

NEW COMPANIES.

Brierley (Edward) and Sons Limited. — Registered
August 7. Registered office : 28, Canterbury-street,
Blackburn, to carry on the business of metal and
machinery merchants, etc. Nominal capital, £25,000 in
2,000 preference shares of £& each, and 15,000 ordinary
shares of £1 each. Directors : E. Brierley and Percy
E. Brierley. Qualification of directors, £500.

Brown Bayley’s Steel Works Limited. — Registered
August 1. Objects indicated by title. Nominal capital,
£800,000 in 160,000 shares of £5 each, of which 100,000
shall be cumulative preference, and the remainder ordinary
shares. Directors: R. Armitage, Major W. J. Armitage,
Lord E. Hamilton, M. R. Mainprice, and H. Brearley.
Qualification of directors, £1,000. Remuneration of
directors, £300.

Ferolite Limited. — Registered August 7. Registered
office: 2, Gresham Buildings, E.C.; to carry on the busi-
ness of mechanical, electrical, chemical and general engi-
neers, etc. Nominal capital, £3,000 in 3,000 shares of £1.
Subscribers : G. W. Rice and H. Borradaile.

North End Colliery (Cockfield) Limited.—Registered
August 2. Registered office : County Chambers, Middles-
brought; to carry on the business of manufacturers of
bricks, tiles, etc. Nominal capital, 7,500 in 7,500 shares
of £1. Directors: W. Morrell and L. Dunn. Qualification
of directors, £200.

Trotman (F.) Limited.—Registered August 6. Registered
office: 58, York-street, Westminster; to carry on the busi-
ness of engineers and contractors, etc. Nominal capital,
£10,000 in 9,500 10 per cent, preference shares of £1 each,
and 10,000 deferred shares of Is. each. Subscribers
(1 share) : J. Fell and F. Swift.

This list of new companies is taken from the Daily
Register, specially compiled by Messrs. Jordan and Sons
Limited, company registration agents, Chancery-lane, E.C.

Income Tax and Depreciation of Plant.—The Board of
Inland Revenue has issued a memorandum regarding
allowances for depreciation and obsolescence of plant and
machinery. Each application regarding exceptional wear
and tear, arising from present conditions, is dealt with
on its merits. The schedule of agreed rates of deprecia-
tion specifies 5 per cent, on the written-down value of
railway wagons. The allowance applies to all wagons
owned by traders.

Geological Survey of Great Britain.—The Board of Agri-
culture and Fisheries intimates that the Summary of
Progress of the Geological Survey of Great Britain for
1917 has recently been published, price 2s. The principal
work has been an investigation into the occurrences of
iron ores in Great Britain. Estimates of the reserves of
iron ores are included. Scottish occurrences of felspar,
additional to those previously described, have been
examined. There are also appendices dealing with deep
borings for coal near Market Weighton, and at Kelham,
and one relating to a boring in a deep drift at Gosmore,
near Hitchin. Copies may be obtained through any book-
seller, or from Messrs. T. Fisher Unwin Limited,
1, Adelphi-terr ace, London, W.C. 1.

Irish Coal Fields.—Recently the work of developing the
Murlough Bay mines, near Ballycastle, County Antrim,
was taken in hand by Mr. Reid, a Dublin gentleman, and
promises to be a success. There are six seams of coals,
it is understood, running from 2| ft. to 8 ft., and the
produce of the “ white mine ” is said to be equal to the
best imported coal. These particular mines have not been
worked for over 100 years, and are quite distinct from
the Ballycastle mines, which are being developed by a
Scottish company. One seam—the best one—has not been
touched since 1790. With regard to the Ballycastle mines,
they are amongst the oldest in existence, and are reputed
to have been worked in the Stone Age. They extend for
over four miles, with a breadth of a mile and a half, and
formerly used to have an annual output of from 10,000
to 15,000 tons per annum. Their working during the
past fifty years was rather spasmodic, and at one point
was stopped by a huge “ whin-dyke,” beyond which coal
was not found, although extensive borings were made on
the further side. It is believed that several seams extend
below the sea. Enquiries are to be made in connection
with the small coal field known to exist in various places
in County Down, and it is quite possible that the owners
of the old mine at Ballygowan may make another boring
to ascertain with more certainty the probabilities. The
Down coal field is a very small one, and has never been
much reckoned on. Coal was obtained near Strangford
Lough, on the banks of the Lagan, near Moira, and in
some other parts, but never in paying quantities. Some
fifty years ago a farmer, whilst harrowing over some cut
bog near Groomsport, turned up quantities of coal lying
practically on the new surface, and used some of it. The
coal burnt well, but the landlord stopped any further
interference with the deposit, nor did he attempt to work
it himself. One of the attempts to obtain coal was made
on the eastern side of Strangford Lough, a boring to the
depth of 500 ft. having been made through greenstone
and sandstone. Near Kilkeel a shaft was sunk in hope of
getting silver, and some was got.

CONTRACTS OPEN FOR COAL AND COKE.

Eor Contracts Advertised in this issue received too late
for inclusion in this column, see Leadeb and Last
White pages.

Abstracts of Contracts Open.

Downpatrick, August 24.—200 tons screened coal, pre-
ferably Irish, for Downpatrick Guardians. Tenders to the
chairman.

Dublin, August 23.—200 tons gas coke for Crooksling
Sanatorium. Tenders to the chairman, Tuberculosis Sub-
Committee, 3, Cork Hill, Dublin.

Portsmouth, August 21.—House coal (800 tons), Welsh
steam coal (800 tons), for American hospital. Forms from
the Officer Commanding, A.S.C., High-street, Portsmouth.

Wigan, August 28.—Coal (12 months) for the Corpora-
tion offices. Tenders to the town clerk.

The date given is the latest upon which tenders can
be received.

GOVERNMENT PUBLICATIONS.

*** Any of the following publications may be obtained
on application at this office at the price named post free.

Memoirs of the Geological Survey. Summary of Pro-
gress of the Geloogical Survey of Great Britain and the
Museum of Practical Geology for 1917 (London : Printed
under the authority of H.M.S.O.), price 2s. 2d. The
National Physical Laboratory, Teddington, Middlesex.
Report for 1917-18, price 2s. 9d.; Metrology Department :
Volumetric Tests on Scientific Glass Ware—Class A Tests,
dated July 1918 (London: Published by H.M.S.O.).

PUBLICATIONS RECEIVED.

‘ Coal Saving by the Scientific Control of Steam Boiler
Plants,” by D. Brownlie, B.Sc.Hons.(Lond.), F.C.S.,
reprinted from Engineering, July 12 and 19, 1918
(London : Offices of Engineering, 35 and 36, Bedford-
street, Strand, W.C. 2); “ Selwyn’s Metric Conversion
Tables,” edited by W. Erskine Dommett (James-Selwyn
and Company Limited, 20, Essex-street, Strand, W.C. 2),
price 2s. 6d. net; “A Scheme of Syndication for the
Brass Industry,” by Howard F. Smith (published by
Smith and Davis Limited, 7, Hampton-street, Birming-
ham); “ Preliminary Report of the Water Power Com-
mittee of the Conjoint Board of Scientific Societies ”
(Conjoint Board of Scientific Societies, Burlington
House, London, W. 1); “The Geological Magazine; or,
Monthly Journal of Geology,” edited by Henry Wood-
ward (No. 650), August 1918 (London : Dulau and Com-
pany Limited, 37, Soho-square, W. 1), price 2s. net;
“ Bulletin of the Imperial Institute ” (Vol. 16, No. 1),
January-March 1918 (London: John Murray, Albemarle-
street, W. 1), price 2s. 6d. net; “Transactions of the
Mining Institute of Scotland ” (Vol. 40, Part 5)
(London: Published at the Offices of the Institute, Albany
Buildings, 39, Victoria-street, Westminster, S.W. 1);
“ The Journal of State Medicine ” (Vol. 26, No. 8),
August 1918 (The Royal Institute of Public Health, 37,
Russell-square, London, W.C. 1), price 2s. net; “Iowa
Geological Survey, Volume 26—Annual Report, 1915,
with Accompanying Papers,” by George F. Kay, Ph.D.,
and James H. Lees, Ph.D.; “Compressed Air Maga-
zine” (Vol. 23, No. 7), July 1918; “Proceedings of the
Engineers’ Society of Western Pennsylvania ” (Vol. 34,
No. 3), April, 1918; “Annual Report of the Minister
of Mines for the Year ending December 31, 1917, being
an Account of Mining Operations for Gold, Coal, etc.,
in the Province of British Columbia ” (printed by autho-
rity of the Legislative Assembly); “ The Indian Journal
of Medical Research ” (Vol. 5, No. 4), April 1918,
price 2 rupees; “The Journal of the South African
Institution of Engineers ” (Vol. 16, No. 2), June 1918,
single copies 2s.; “ Bulletin et Comptes Rendus Men-
suels de la Societe de 1’Industrie Minerale—Table de
Matieres ” (Bulletin 5me serie, tonne 8, 4e livraison
de 1917).

CATALOGUES AND PRICE LISTS RECEIVED.

Stanton Ironworks Company Limited (Nottingham).
—The glass desk tray and paper weight sent to us is a
neat reminder of the company’s cast iron pipes.

Davis Furnace Company (Diamond Foundry, Luton).—
The new circular, No. DO 18, deals with drying stoves of
different types, suitable for core drying, japanning,
enamelling, armature drying etc. In spite of the diffi-
culties attending the question of pricing, current prices
for the various “ standard ” or more current sizes are
quoted, and further full particulars of net and gross
weights and measurements, cost of export packing and
delivery f.o.b. are specified for the benefit of the merchant
and foreign buyer.

Coal Shipments to Ireland.—It appears from a state-
ment of Mr. H. G. Burgess, the Irish Coal Controller,
that, so far from Ireland having been unfairly treated in
the matter of coal imports, it has actually received
preferential treatment, the supplies during the present year
having been reduced by barely 1 per cent, as compared
with the corresponding period of last year. Last month
certain reductions were made, as was done in the case
of every place in the United Kingdom. It would seem
that the undoubted shortage in Dublin has to some extent
been caused by profiteering, some holders having disposed
of their stocks in places where the local authorities had
not fixed a control price.

Unsuccessful Claim for Mining Damage.—At the Chan-
cery Court, in Liverpool, on August 13, Mr. R. B.
Lawrence, the deputy of the Chancellor, gave judgment
in the action Woods v. Bromilow, Foster and Company
Limited, the trial of which occupied five days at the be-
ginning of July. The plaintiff is the owner of a plot of
land at Sutton, near St. Helens, on which he formerly
carried on business as a manufacturer of bricks, pipes
and pottery; and he alleged that the mining operations
carried out by the defendants had caused a subsidence of
the surface and consequent flooding. He asked the Court
to make, a declaration establishing the defendants’ liability,
and to grant an enquiry as to damages, with liberty to
apply for an injunction. His Honour said that the plaintiff
had failed to prove that he was injured by acts of the
defendants other than what they had a right to do as
against him. The action was dismissed with costs.