i STEAM COAL - Clpdigital.org

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THE COAL TRADE BULLETIN. 41
THE PULSE OF
Continued industrial prosperity, nearly normal
transportation facilities, the opening of the lake
shipping season and the beginning of the fulfilment
of summer contracts have placed the general
coal market on a firm basis. In the Western bituminous
trade all grades are stronger with prices
generally firmer, the only weakness being in Illinois
and Indiana coals, of which the supply continues
to exceed the demand. The surplus stocks
of Pennsylvania, Ohio and West Virginia coals
are pretty well cleaned up and some grades of
these are rather scarce. In the Southwest the
conditions are better than at any time within the
last year and quotations are being well maintained.
In the lake region trade is booming and
large cargoes are already in motion. The opening
of lake navigation was somewhat later than
was expected a month ago but the delay has not
been serious. Arrangements have been made
among lake shippers whereby last year's prices
of $2.10 for cargo coal and $2.50 for fuel coal will
be maintained despite the "bear" influences which
have been persistently at work. Considerable
improvement is shown in the production of the
Tennessee and Alabama fields and the effects of
the recent labor troubles are fast disappearing.
The furnace companies are operating on the "open
shop" basis throughout and are finding no difficulty
in obtaining all the labor required. Many
new operations are reported. A continued increase
in production is being made in West Virginia
as a result of improved rail haulage facilities
and operations will be extended as rapidly as
the railroads are able to handle the output. Two
more rises in the Ohio have served to clear the
tributary river pools of all loaded craft and to
replace the latter with empties. The first of these
rises found the shippers largely unprepared and
less than 4,000,000 bushels were sent out from
Pittsburgh. The later shipment, however, totalled
about twice that amount, the majority of
it going out in one day and creating a new record.
The steadily increasing demand in the Pittsburgh
district, coupled with the beginning of heavy lake
shipments, has served to stimulate production and
practically all of the mines in the district are
working. Prices are very firm, with basic quotations
of $1.05 to $1.10 for run-of-mine.
The coke market is much easier with a prospect
of production being curtailed in the near future.
The car supply in the Connellsville region is good
and the figures on shipments have taken another
rise within the last fortnight. Production continues
unchanged up to this time. In the South-
THE MARKETS. [
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ern field the production has been materially increased,
but not sufficiently so to meet the local
demand. West Virginia continues to supply the
difference and the production in this field is still
near the maximum point. Prices for No. 1 Connellsville
furnace have fallen off and the current
quotation for spot is $1.90 to $2.00. There are
no reliable quotations for last half furnace as
both buyers and sellers are holding back. Foundry
continues to command from $2.70 to $3.25,
according to quality.
The Eastern soft coal market is somewhat less
firm owing to large speculative shipments which
have not been disposed of, and to the lower quotations
on anthracite. The closing of contracts
continues and contract prices are fairly well maintained.
Trade in the far East is quiet. Large
arrivals are reported but on account of slow loading
at some discharging ports and of delay in unloading
at the Eastern ports, there has been a considerable
stiffening of prices. Trade along the
sound is quiet, as consumers are taking only
enough to keep them running. New York harbor
trade shows more coal at tidewater shipping ports
than can be placed. All-rail trade is slightly
weaker than it has been, and tonnage going forward
does not seem to be quite so large. Transportation
from mines to tide is excellent, and the
car supply is well up to the demands. Vessels in
the coastwise market are not in as good supply as
they have been, on account of weather conditions.
The anthracite market is practically featureless
but the tonnage for the month was very large.
Practically all of the mines are working full time
and the car and transportation facilities are good.
The eagerness to stock up, shown during February
and March, has fallen off somewhat but the general
market conditions are satisfactory with prices
firm and steady.
Hull, Blyth & Co., of London and Cardiff, report
that the market remains unaltered, with quotations
as follows: Best Welsh steam coal, $3.42;
seconds, $3.30; thirds, $3.06; dry coals. $3.00; best
Monmouthshire. $3.00; seconds. $2.94; best small
steam coal, $2.34; seconds, $2.22; other sorts, $2.04.
Ten feet below the earth's surface a vein of anthracite
coal has been discovered near Royer, Blair
county, Pa. Some of the coal was taken out and
burned, and found to be of excellent quality. The
extent of the vein has not been ascertained.