i STEAM COAL - Clpdigital.org

36 THE COAL TRADE BULLETIN.
THE PULSE OF THE MARKETS.
The continued improvement in the industrial
situation together with generally unchanged transportation
and weather conditions has kept coal in
firm demand during the first two weeks of the
year with prices practically unchanged. There
has been a relapse in the demand in the West and
Southwest as a result of milder weather but it
has been offset by conditions in the East. The
dullness which characterized the Chicago and St.
Louis markets during the last quarter of 1904 is
again apparent after a short season of activity
brought about by favorable weather conditions.
Activity is still increasing in the South as a
result of the better industrial outlook. A serious
shortage exists at New Orleans and lower Mississippi
points owing to low water in the river and
the increased local demand for Tennessee and
Alabama coal. The present stage of the Mississippi
at this time of year is unusual and if of
long duration may entail hardships upon Southern
consumers. At this writing there is every prospect
of another good river coal movement on the
Ohio, the tributaries of that stream oeing swollen
as a result of soft weather following a heavy
snow fall. It is estimated that from 6,000,000 to
10,000,000 bushels will leave the Pittsburgh field.
The December rise proved a disappointment owing
to the brevity of the boating stage, the prevalence
of heavy ice and consequent disasters which
blocked channels at various places and retarded
many shipments. The heavy demand at Cincinnati,
Louisville and intermediate points absorbed
the entire river shipment but a part of the
shipment now ready may be available for relieving
the extreme Southern market. In the West
Virginia field there has been a satisfactory improvement
in weather conditions affecting production,
so that water shortage is no longer causing
trouble. Transportation conditions, however, have
not improved materially in either the West Virginia
or the Western Pennsylvania fields and are
still hampering shipments. There has been no
particular change in Pittsburgh prices, run-of-mire
being quoted at $1.00 to $1.15 per ton.
Despite continued heavy increases in the coke
output prices are advancing steadily, the quotations
on both furnace and foundry being above the
$3.00 mark for spot, with little prospect of delivery.
First half furnace rules firm at $2.50
to $2.75. There has been some improvement in
labor conditions in the Connellsville coke region
and the weekly output is now about 300,000 tons,
this figure including the production of the Mason­
town fields. The shipments, owing to the car
shortage and weather conditions adverse to rapid
handling, are considerably below the production.
In the Atlantic seaboard soft coal trade the demand
continues heavy with a slight improvement
in the supply due to somewhat better transportation
conditions. Severe weather in the New England
states has still further strained the tension
in that section and advances in prices are reported.
At Philadelphia- and Baltimore the market
is somewhat easier. The demand in New
York harbor continues to be.brisk, with quotations
of $3.00 f. o. b. for "ordinary." steam grades and
from that figure to $3.25 n ^nr~*th.e better grades.
The anthracite market continues firm along all
lines, with urgent demands' for domestic sizes
from the middle and Eastern states. In the far
East there has been no improvement in supply
conditions and fancy prices are quoted at several
points where the shortage is greatest. The Western
anthracite market continues easy with steady
demand in domestic sizes and unchanged prices.
The production continues to increase and the rail
transportation situation shows signs of improvement.
The New York harbor demand continues
good with prices practically unchanged. The
same is true of Philadelphia, but at Baltimore an
advance of 25 cents per ton is quoted on all grades.
Hull, Blyth & Co., of London and Cardiff, report
a steady market and the following price quotations:
Best Welsh steam coal, $3.48; seconds,
$3.30; thirds. $3.12; dry coals, $3.18; best Monmouthshire,
$3.06; seconds, $3.00; best small
steam coal, $1.92; seconds, $1.80; other sorts, $1.68.
New Operations In Eastern Ohio.
Six new coal mines are to be opened in Belmont
county, Ohio, within the next three months and
when in full operation will employ not less than
2,000 men. The Youghiogheny & Ohio Central
Coal Co. is spending $50,000 to open one new mine
on Glenn's run near Martin's Ferry. The Pennsylvania
railroad is building a three-mile line at
a cost of $9,000 to connect with the Y. & O. holdings
which consist of 1,300 acres. The Provident
Coal Co. will be working 300 men at a new mine
near St. Clairsville by the middle of March. The
Empire Co. will start one new mine South of
Bellaire and the Glencoe Coal Co. will have a new
opening ready for work by the last of February.