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THE COAL TRADE BULLETIN. 39
THE PULSE OF THE MARKETS.
The fortnight past has seen a temporary lull in
the upward market of both bituminous coal and
coke. There has been a further spurt in the anthracite
demand and operating officials predict
that this will be one of the most active winters
in the industry. The demand in the latter trade
is a natural one and practically independent of
the situation which will confront the trade the
first of next April. The lake movement of bituminous
is going forward with a rush in anticipation
of the close of lake navigation, December 5.
Some grades of coal whicli could not find place in
the laKe movement earlier in the season are now
going forward in volume. Aside from some dayto-day
fluctuations, the Pittsburgh product has
been selling around the prices quoted in our last
report. Spot Pittsburgh coal has been selling to
the trade at $1.20 for mine-run; $1.30 for :; 4-inch
and $1.40 for 1%-inch. Slack has been selling as
high as 85 cents. On heavy contracts the foregoing
prices have been shaded 10 cents the ton.
In eastern Ohio similar prices are prevailing,
whilst on other grades of Ohio coal and, strange
to say, that of the Indiana fields, still higher
prices have been secured. The car supply in the
Pittsburgh territory has only been about 40 per
cent, of requirements. the shortage is felt nearly
everywhere in the bituminous as well as the anthracite
producing fields. in the past fortnight
there has been a relatively better car supply for
the coke shippers and prices have only slightly
changed, being a trifle stronger.
Coke output from the Connellsville region has
been increasing by reason of a better car supply.
More ovens have been fired and the production and
shipments from the Connellsville and lower Connellsville
regions have been increased at about
4,000 tons the week. Connellsville production in
the week past was nearly 272,000 tons while the
Masontown field is producing at nearly a rate of
70,000 tons the week. The low-sulphur strictly
Connellsville coke is demanding $3.10 at ovens
for prompt shipment, and the asking price on
contracts for first half of the year delivery is at
the same figure although attractive business could
be placed at an even figure on the dollars. Offgrade
coke is selling at 75 cents and more under
the foregoing prices.
The demand for soft coal along the Atlantic
seaboard seems to increase, and shippers are unable
to keep up with orders. If it were not the
belief that a large proportion of present shipments
are going into stock for the winter, pro­
ducers would fear that the present supply would
not go around. Outside of the heavy regular
demand, last orders to ice-making ports are taking
large amounts of available coal. This activity
will naturally soon be suspended, with a consequent
relief to shippers. Car supply has not improved,
to the disappointment of producers, who
are prevented from sending forward as large an
output as they could. Present appearances seem
to indicate that no relief in car supply can be expected
this year. Prices for spot coal are strong;
anything that is black will sell for $2.50@$2.60
f. o. b. New York harbor shipping points, while
the ordinary steam grades secure around $2.70@
$2.75, and the better coals get prices ranging upward
from this. To a shipper having a cargo to
spare, the price is a question of special negotiation,
and it depends largely upon the needs of the
consumer. Trade in the far east is consuming a
large amount of coal, the demand largely exceeding
the supply. The Sound is calling for more
coal than can be supplied, shippers holding contracts
down to their monthly proportion. Boats
are scarce and rates are advancing. New York
harbor is short of coal at shipping points, and
boats are put in by consumers who are glad to
have them wait. All-rail trade is cut down as
much as possible, $1.50 at mines is being asked
for shipment, and orders are discouraged as much
as possible. In the coastwise market, small vessels
are scarce, but the large ones are in fair supply.
Rates are unchanged. At lower lake ports,
the demand for % coal is strong. Prices are
holding firm at $2.10 at dock. Lake Erie ports.
Lake rates have been booming, the demand for
tonnage for grain setting the pace. The market
is therefore strong, with shippers paying 65c. to
Lake Michigan, 60c. on hard coal from Buffalo to
Duluth and 40c. on bituminous coal from other
Lake Erie ports to the head of the lakes. In all
branches of the trade there is firmness in the west
and northwest with prices comparatively high.
The anthracite business maintains continued and
growing strength. Increased tonnage has been
absorbed readily. The shipping companies are
withdrawing tonnage from storage with a view
to supplying the demand which is urgent and
which cannot otherwise be supplied. Storage
stocks, notwithstanding the larger storage facilities
available last summer, are considerably less
than they were a year ago, and at the present rate
of withdrawal of this coal there will be practically
no anthracite in storage by the first of the
new year. A shortness has developed in some