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THE COAL TRADE BULLETIN. 45
THE PULSE OF
A decided briskness has developed in the bituminous
trade. Waiting buyers seem to be suddenly
coming to a realization of the urgency of
getting into the market quickly and covering their
wants. Prices are stiffening. With the rush of
new business and heavier requisitions on old contracts,
the usual thing has taken place and the
car service is entirely inadequate. Conditions are
such as indicate a serious car shortage in the near
future, greatly to be regretted at this time when
the rush is on to the lakes to get the supply to
the upper docks ahead of he close of navigation
in October. The demand for anthracite is vigorous
everywhere. Retailers are putting up prices,
following the establishment the first of the month
of the full circular prices of the producers. An
exceptional anthracite tonnage is being gotten out
but it is not being stored to the extent that unreliable
newspaper reports indicate. The extraordinary
movement is mainly due to heavy buying.
River shippers of the Pittsburgh district have
been favored with a water stage which allowed the
starting for the southern markets of upwards of
57000,000 bushels of coal in the past few days.
Little, if any, of this will go as far south as New
Orleans, there being stored there a sufficient supply
to last till next spring. In Pittsburgh and
the Pittsburgh district and the fields which surround
it, prices are being firmly held as quoted in
our last report. With a satisfactory car supply
till recently a new record is certain to be made
in the quantity of coal being shipped up the lakes.
This is estimated at from 10 to 15 per cent, over
the movement of last season.
There is a decided bracing-up in the coke trade.
The output is being increased at a lively rate and
prices are going higher. Contract prices for the
first part of next year will be above $2.00 the ton
for strictly Connellsville furnace coke with the
foundry at the usual differential above. For spot
delivery $1.95 to $2.10 is the range of prices at
which furnace is now being held with foundry at
$2.35 to $2.50 at Pittsburgh. In the Connellsville
region only about 2,000 of the more than 23,000
ovens are idle and production is at the rate of
268,000 tons a week. In the Lower Connellsville
region practically all of the upward of 7.000 ovens
are active and production is running close to
87,000 tons a week.
The Atlantic seaboard soft-coal trade shows continuing
strength and the fall activity has begun.
All classes of coal feel the- effect of this, and some
of the better grades even have difficulty in keeping
THE MARKETS.
up with their orders, while better tonnages are
seen coming from all the mines. There is no
surplus at tidewater and prices remain firmly at
around $2.30@$2.35 for the fair grades of coal.
Car supply and transportation are feeling the pressure
and both appear to have fallen slightly below
normal. Trade in the far east is active; shippers
have plenty of orders from this territory, but after
the activity shown in this region during the summer,
it is better supplied than many other districts,
in spite of which a continued pressure is
expected. New York harbor trade is strong, there
are no accumulations and orders are more plentiful
than coal. All-rail trade continues vigorous and
consumers are being rather slighted in favor of
tidewater business. In the Chicago territory,
while there are good trade prospects due to the
promised heavy crops, a condition of over-supply
continues in Indiana and Illinois coals. Of eastern
coals, smokeless and Hocking are strong; for
others, there is yet a comparatively light demand.
It is to be said, however, that all grades are
strengthening somewhat and that the prospect is
more encouraging than it has been for a long time.
The anthracite trade is becoming more active
generally. It shows splendid firmness and steadiness
with sales much heavier than usual at this
time of year. There is pronounced activity in
the movement to the consumer. Retail prices are
advancing almost everywhere. While good stocks
are reported to be on hand at nearly all points.
the fall demand will soon cause a depletion, and
the foresight of the large operators in continuing
operations will then be evident, as the demand
for the prepared domestic sizes invariably exceeds
the supply when there is any kind of a market.
There is every indication of a good fall and winter
business. While the hard coal trade is active in
Chicago territory, there is still some cutting of
prices due to the large amount of free coal that
accumulates on tracks and must be sold. September
prices now in force prescribe $6.50 for egg,
stove and chestnut anthracite and $6.25 for grate.
The present demand is largely for the smaller sizes.
Hull, Blyth & Co., of London and Cardiff, report
that owing to the recent boisterous weather and
the consequent lateness of tonnage, the market for
the moment is weaker, but there is every sign that
this is only temporary. Best Welsh steam coal.
$3.30; seconds, $3.12; thirds, $3.00; dry coals,
$3.00; best Monmouthshire, $3.06; seconds, $2.94;
best small steam coal. $2.28; seconds, $2.16; other
sorts, $1.92.