i STEAM COAL - Clpdigital.org

36 THE COAL TRADE BULLETIN.
THE PULSE OF THE MARKETS.
.......
The continuance of extremely severe winter
weather accompanied in many sections by violent
storms has served to cause great disturbance in
the coal market. In the West and Southwest
there have been coal famines at many points,
owing to surplus stocks being wiped out before
they could be reinforced. The demand became
very active at Chicago and St. Louis but no suffering
was occasioned at either place owing to
very large stocks on hands and rather better transportation
facilities than were enjoyed elsewhere.
At Kansas City, however, and at many points in
Missouri, Kansas, Iowa and Nebraska the domestic
demand could not be satisfied. The same conditions
prevailed throughout the Northwest, continuing
for a week or ten days. Considerable
activity is reported from the South to which the
cold weather extended. Some mines were unable
to operate but the supply has been fairly equal to
the demand. In the West Virginia field the old
drawbacks, inefficient car supply and transportation
facilities, intensified by weather conditions,
have acted as a check on production and there has
been a curtailment of output. Trade at Cleveland
and in the lower lake region has been stimulated
slightly by the cold weather but the reserve
stocks have been found fully equal to the increased
demand. A marked decrease in the demand
for steam sizes is noted. Famine conditions
were threatened for several days in the
Pittsburgh district owing to the local rivers being
closed by ice. The railroads were also hampered
by the weather and as a result of the combined
influences a number of mines were idle for varying
periods. There is no change in the price quotations,
the basis remaining at $1.05 for run-of
mine.
The coke market is easy under a somewhat better
car suppply and continued heavy production.
The output has about reached the limit and is
some 25,000 tons per week beyond the haulage
capacity of the railroads. The upper and lower
Connellsville fields combined are shipping from
275,000 to 300,000 tons per week. Foundry coke
is very scarce as a result of the curtailment of its
production due to the attractive prices obtainable
for furnace coke. The quotations range from
$3.00 to $3.50. Spot furnace is quoted at $2.60
to $2.65 and for future delivery at $2.30 to $2.35.
The Eastern seaboard bituminous trade is practically
at a standstill on account of the further
drawbacks from which the railroads have been
suffering. Supplies are being rapidly exhausted
and dealers in many instances are barely able to
take care of their contracts. The market is a
speculative one, dependent upon the daily needs
of customers, and until weather conditions change
there is no likelihood of relief. Trade in the far
East is demanding a considerable amount of coal,
but vessels are practically unavailable for Eastern
shipments. The same is true of coastwise
trade. Such vessels as are in the ice in Delaware
or Chesapeake bay, are reported practically helpless.
Norfolk and Newport News shipments are
being delayed on account of slow transportation
over their feeding roads. Little coal is available
in New York harbor. Embargoes are placed on
shipments to one or two of the New l ork harbor
points. Port Reading being entirely, and others
partially closed. Trade along the sound is further
embarrassed by the inability to obtain proper
handling at terminal points. Where the demand
is sharp and the supply restricted advances in
price are noted. Throughout the entire East
transportation is slow and the car supply is only
about one-fourth of what is required.
' Conditions similar to those prevailing in the
bituminous trade are governing the anthracite
market. The Western demand has been increased
largely, particularly at Chicago where it has
eclipsed the increased call for soft coal. In the
East, lack of railroad and delivery facilities are
giving dealers much anxiety. The railroads have
been getting considerable shipments to tidewater
in a rather spasmodic way, as weather conditions
permitted, but to ferry the coal across to Manhattan
or Long Island, or to ship it towards the
sound ports is where the difficulty lies. Trips up
the sound are taking more than twice their customary
time. Similar difficulties are encountered at
Philadelphia, Boston and Baltimore. Street traffic
conditions are also very bad, and stocks in the
cellars are being so heavily drawn upon that a
brisk trade may be expected as soon as deliveries
are facilitated.
Hull, Blyth & Co., of London and Cardiff, report
the tone of the British coal market somewhat
easier for best qualities. Quotations are as
follows: Best Welsh steam coal, $3.66; seconds.
$3.48; thirds. $3.4*2; dry coals, $3.36; best Monmouthshire,
$3.30; seconds. $3.12; best small steam
coal, $2.40; seconds. $2.16; other sorts, $1.92.