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THE COAL TRADE BULLETIN. 41
THE PULSE OF THE MARKETS.
The coal market continues to strengthen. The
coke market is especially strong, prices having
gone up rapidly since the last issue of THE COAL
TRADE BULLETIX. There has been some strictly
Connellsville low sulphur coke sola at $3.50 the
ton for foundry grade and $3 for furnace. Contracts
have been made for next year delivery as
high as $2.75 for furnace and producers generally
have held $2.25 as the minimum on important
business. Coal prices are stiffening. As indicated
in our last issue tne free coal at tne upper
lake docks was advanced 10 for run of dock
and 15 cents for lump the ton as of Octouer 1.
This is added to the horizontal advance of 15 cents
September 1. Prices to the trade have been
moved up. Regardless of the car shortage it is
now likely that the close of navigation will see
accomplished a record movement up the lakes.
Slack is selling at from 60 to 70 cents the ton at
Pittsburgh field mines with little available at
the first figure named. The anthracite market is
improving as are those for bituminous throughout
the country.
Coke production and shipments have been increasing.
Idle ovens have been fired. Buyers
are offering from $2.50 to $2.60 for furnace coke
on contracts for delivery throughout 1906. Connellsville
region production is at the rate of over
265.000 tons the week, an increase of over 4,500
tons, and lower Connellsville production is at the
rate of 69,000 tons, an increase of 900 tons over
previous week.
The hard coal market is constantly improving,
principally under the influence of the large manufacturing
consumers. Domestic trade is not yet
vigorous, owing to the mild weather. The small
sizes are in active demand, so much so that an
advance of price is confidently expected in the
near future. Many consumers are stocking large
quantities of pea coal, providing additional storage
room for it in many cases. Even the washery
coal is moving off quickly. Prices remain as
follows: $4.75 for broken and $5 for domestic
sizes. Steam sizes: $3 for pea; $2.25@$2.50 for
buckwheat; $1.45@$1.50 for rice and $1.30@$1.35
for barley, f. o. b. New York harbor shipping
points.
In the eastern bituminous market demand is
generally strong, though an exceptionally heavy
arrival at New York harbor has temporarily weakened
the market at that point. Prices for the
ordinary steam grades this week range from $2.50
to $3.60, f. o. b. shipping points. Car supply is
variable, according to the railroad, the individual
and the promptness shown in unloading arrivals
at tide. The far east shows a strong demand,
particularly at the shoal water points, which are
getting in their coal as fast as the supply of coal
and vessels will permit. Along the sound, demand
is much stronger than supply; this territory
is now trying to make up for its procrastination
during the summer months. New York
harbor is taking in large supplies, and the market
is momentarily weak. All-rail trade is calling for
heavy supplies, although shippers are slighting it
in favor of tidewater business. Ordinary grades
are selling for $1.25 at the mines. Car supply is
variable, though transportation is good on all
roads. In Alabama and other southern fields
conditions are unchanged with a labor shortage at
Alabama mines. Conditions are gradually growing
better in the markets converging at Chicago.
The lake situation has been comparatively dull.
Hull, Blyth & Co., of London and Cardiff: the
market remains steady, with a fairly good tone,
and tonnage is plentiful. Best Welsh steam coal,
$3.36; seconds. $3.24; thirds, $3.06; dry coals.
$2.94; best Monmouthshire. $3.12; seconds, $3.00;
best small steam coal, $2.28; seconds, $2.16: other
sorts. $2.04.
DENIED LOWER FREIGHT RATES.
A committee of East Tennessee operators in a
recent conference with executives of the Southern
railway failed to secure some desired concessions
in rates to markets in the Carolinas. Coal Creek
and Jellico operators assert they cannot compete
successfully with the mines on the Virginia &
Southwestern road. The rate from Bluff City and
from Coal Creek is practically the same, conditions
in the Virginia mines enable the mines in
that state to sell at a price in the Carolinas with
which East Tennessee coal operators cannot compete.
The Spot Cash Coal Co. has been incorporated in
Fan-is, Texas, with a capital of $10,0u0, by G. A.
Vines and others.