i STEAM COAL - Clpdigital.org

28 THE COAL TRADE BULLETIN.
selling agreement will meet German prices in
every respect.
It is understood that German shippers are planning
a general invasion of the Mediterranean next
year, as a means of relieving domestic congestion.
A depressed German iron market has compelled
the miners to force their coal upon the export
trade at less than domestic rates or to suspend
operations. Special advantages for rail and ocean
transportation are expected to favor the former
course. Genoa, a port frequented by numerous
German vessels, is to be the principal point of
attack. It is proposed to screen the German coal
upon its arrival, dispose of the best to interior
consumers, and look to German navigation companies
to take the rest.
In concluding his report Consul General Skinner
says:
"The United States has lost interest in the
Mediterranean market for the present. As I have
frequently pointed out. our shippers can enter
this market profitably only under exceptional circumstances,
when prices are low at home, and
freight rates reasonable. So long as our coal
companies live in the present only, they will have
occasional speculative opportunities to sell coal in
Europe. Prudent operators must perceive, however,
that with our production increasing at its
present rate, the time will inevitably come when
a foreign market must be sought and retained permanently.
When that time comes, either the
mine owners or the railroads for them will provide
cheap ocean transportation under conditions
which will enable them to make long-time European
contracts. If profits cannot be found in
transportation, they will have to be found in
mining."
C. D. Hagelin, the United States consular agent
at Cette, France, reports that during the year
ending November 1, 1904, the imports of coal at
Cette were 88,800 tons, or about 5,000 tons less
than in the previous year, and consisted of English
coals for industrial purposes and gas coals.
Prices for English gas coals were from $4.05 to
$4.43, and for English industrial coals from $4.43
to $4.6°: for best French steam coals, $5.21 lo
$5.40. Freights were lower than ever before.
Coals from Newcastle to Cette paid $1.34 to $1.58
per ton, rates which were disastrous for shipowners.
New Mining Town Established.
The Pittsburgh & Washington Coal Co. has purchased
another series of tracts of coal land aggregating
about 2,000 acres, near Washington, Pa.
A new town, to be known as Kenton, is being
established, work already being started on one
block of 140 houses. The town is on the Wabash
railroad.
TRADE AGREEMENT UPHELD.
The Pennsylvania supreme court has affirmed
the decree of the Allegheny county common pleas
court upholding the trade agreement between the
Monongahela Consolidated Coal & Coke Co. and
Charles Jutte. The action was brought to restrain
Jutte from engaging in the coal business,
it being alleged that at the time of the organization
of the Monongahela company Jutte sold out
his business to the plaintiff company and entered
into an agreement not to engage in the coal business,
in competition with it, for a period of ten
years, and that shortly after receiving the proceeds
of this sale he re-commenced business under
the name of C. Jutte & Co., and entered into
active competition with the plaintiff company, under
the name of C. Jutte & Co., in violation of the
express terms of his contract.
The defense urged, among other things, that
the contract was void under the Sherman antitrust
act, and the court decided that the agreement
was valid as to the state of Pennsylvania,
but void as to inter-state commerce.
An injunction against Jutte was stayed pending
appeal, but the appeal having been now decided
the effect of the affirmance is to finally determine
that until the expiration of ten years from the
date of the agreement referred to Jutte may not
engage in the eoal business within the state of
Pennsylvania.
There is no question at issue which could go
before the United States Supreme Court, the decision
as to matters which would come within its
jurisdiction having been decided in favor of the
defendant.
PITTSBURGH COAL CO.'S OUTPUT.
The Pittsburgh Coal Co.'s output of coal for
1904 aggregated 14.400,000 tons, which despite the
great industrial depression of the year and transportation
difficulties at various times, was within
200.000 tons of its production during 1903. The
lake shipment aggregated over 4,200,000 tons.
This record is second in the company's history
only to the great record of 1903, when the total
lake shipments reached 4,500,000 tons. The figures
of the past year show an increase of 900.000
tons over 1902 and 1,000,000 tons over 1901. The
showing for 1904 is considered the more remarkable
in view of the entire loss of two months of
the lake shipping season on account of the strike
of the Masters and Pilots Association. All shipments
on the Great Lakes were tied up by that
strike.
The new Radiant mine of the Victor Fuel Co.,
of Denver, is to be operated entirely by electricity,
the power being transmitted from Canon City.