i STEAM COAL - Clpdigital.org

36 THE COAL TRADE BULLETIN.
THE PULSE OF THE MARKETS.
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Generally satisfactory conditions with steadily
increasing firmness of prices are noted in all
branches of the coal trade. There is still widespread
complaint of lack of transportation facilities
but several of the large roads are making
extraordinary efforts to meet the demands upon
them and with a greater degree of success than
seemed likely a fortnight ago. The close of the
lake season is also expected to help out to a considerable
extent. Low water is preventing river
shipments South, however, and is adding to the
burden on the railroads. The output of many of
the river mines has been greatly curtailed or
stopped altogether, but the effect has not been
general. In the Southwest the weather conditions
have been so mild that the market continues
to be almost sluggish. At St. Louis it is
well known that the supply of coal has been excessive
and wholesale prices have been sacrificed
frequently in order to move the stock on track.
Signs of marked improvement are not wanting in
Chicago. It is the opinion of well informed
coal men that the stocks of bituminous coal on
track at Chicago are being steadily depleted. The
market is therefore in better shape, for it is only
a question of a little time when these stocks will
entirely disappear and a scarcity occur, demand
continuing the same. Some grades of domestic
coal have been in slight request, but with prices
on a very low basis for this season of the year.
The Northwest demand continues fair, owing to
the colder weather which prevails in that territory,
but dealers have not commenced placing reorders
and the volume of business is far from
satisfactory, considering the dull summer that
was experienced. There has also been severer
weather in Missouri river territory, which has resulted
in an increased demand and better wholesale
prices. In the Middle West there is now a
decided tendency on the part of steam users to
contract for the coal they will need within the
next year, but since the demand has been good
producers do not care to make deals unless they
can get a price that will yield an average profit.
Lake shipments from the Pittsburgh district
closed practically two weeks ago. Official figures
on the tonnage for the season are not available,
but it is not believed the shipments will total more
than 4,000,000 tons, or about the same as last
year. There will be more competition for the
lake trade next season, and the Pittsburgh Coal
Co. has been contracting for coal from independent
producers. The local demand is unusually good,
owing to the operation of the mills and other industrial
establishments. Pittsburgh prices con­
tinue abou,t the same, run-of-mine coal being
quoted at $1.00@$1.15 per ton at the mines, although
there have been transactions during the
past fortnight as low as 95 cents.
The increased demand for coke has stimulated
production and prices to the highest figures of the
year, the former despite the continuance of a
serious water shortage and more or less unsatisfactory
transportation facilities. There has also
been a scarcity of suitable labor but the embarrassments
arising from it were speedily overcome.
Unless there is a further and unlooked for aggravation
of existing drawbacks a steady increase in
production for some time to come is likely. Furnace
coke is held at $2.25@$2.35 and foundry at
$2.50@$2.75. The production in the Connellsville
field at the last weekly report was over
220,000,000 tons, a gain of nearly 25.000 tons. The
shipments aggregated 10,548 cars, of which Pittsburgh
and river points took 3,603 cars, the West
ern market 5,847 cars and the Eastern market
2,169 cars.
There has been but little variation in the conditions
that affected the Atlantic seaboard soft coal
trade some weeks ago. In fact demand seems to
keep up with the supply, and in certain instances
producers even find it difficult to fill the orders.
Frosty weather has had its effect on the shoalwater
ports, and practically the last of the coal
for that territory is now being shipped. Soon ice
will handicap the shipments to ports this side of
the Cape, and then all-rail consuming territory
will receive better attention. The embargo on
shipments via the New Haven road is causing
considerable uneasiness, but it was absolutely
necessary with the accumulation of loaded cars at
Jersey City and West.of there, destined for points
on the New Haven. This is a very unpleasant
condition of affairs for fair weather. With one or
two heav.y storms it would be distressing in the
extreme _"for the New England retailer, and the
consumer. In the far East the situation is good,
inquiries ior coal indicating continued improvement.
Along the Sound also business is looking
up better. At New York harbor the expansion in
trade has encouraged producers to strengthen their
prices, and for the Clearfield grades of coal $2.50@
$2.60 is quoted. Indications point to an early
change in the tactics of producers supplying allrail
trade, who, during the urgent demand from
ice-making ports, have neglected this territory.
There should be increased activity in all-rail business
from now on. Transportation from mines to