i STEAM COAL - Clpdigital.org

36 THE COAL TRADE BULLETIN.
THE PULSE OF THE MARKETS.
Transportation continues to be the dominant
fjactor in the coal trade, although labor and
weather are exerting considerable influence. The
car shortage continues to be general, with little
likelihood of material improvement. The reopening
of the Ohio and its tributaries to navigation
will give the Southern market badly needed
relief. The weather conditions which made this
possible also relieved the water shortage in Pennsylvania,
Ohio and West Virginia. The cold
weather following the general rains was spread
over a wide area. It interfered to some extent
with rail transportation and had a visible effect
on the demand for domestic coal. This was particularly
the case in the Western market where
some briskness has been infused into the sluggish
situation prevailing for some time past. The
scarcity of labor is becoming an important consideration
to the coal trade, reports from all sections
showing that it is being felt to a considerable
extent. It is becoming a serious drawback to increased
production in the Connellsville coke region,
the operators, despite extraordinary efforts,
having exhausted the available supply. The same
condition prevails in a somewhat less degree
throughout Ohio, West Virginia and Western
Pennsylvania. In the Pittsburgh district the
car shortage is estimated at about 25 per cent.
The efficiency of the railroads in handling the
cars supplied is diminished from the normal to
the same extent. There is, however, no serious
shortage of coal, but the facilities are barely equal
to the current demand. This is somewhat
heavier than it should have been owing to the
failure of the railroads and the dealers in domestic
sizes to stock up during the summer. In the
extreme South there has been some improvement
in conditions. The car supply is reported to be
somewhat better and in both the Tennessee and
Alabama fields the production has been large despite
the continuance of the strike of the union
miners. In the Southwest the recent severe
weather conditions quickly converted the dull
market into one of considerable activity, but the
apprehension that a continuance of blizzard conditions
might seriously affect the supply has been
relieved by milder weather. Pittsburgh prices
have not changed materially in the last fortnight.
run-of-mine coal being quoted at $1.00 to $1.15
per ton.
There has been a further strengthening in the
prices of coke, furnace coke for the first half of
the year now commanding $2.50 to $2.60 and
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foundry $2.75 to $2.90. In view of a possible
serious diminution in production during the first
half of January, on account of the custom of the
very large element of Eastern European workmen
to exact holiday vacations during their Christmas
and New Year season, which by their calendar
comes at this time, both furnace and foundry coke
for spot delivery are being held as high as $3.00
in some quarters. The weekly production now
approximates 280.000 tons, this figure including
the Masontown field.
The Atlantic seaboard soft coal trade shows a
heavy demand, a very short supply, and advancing
prices. In New England the scarcity of water
for power has created more demand for coal. The
car supply in the last two weeks has been dwindling
on all the roads, and the recent heavy weather
has interfered with traffic. At the mines the car
supply is practically exhausted, and coal in transit
is stalled to some extent. Frost has also
stimulated the demand for coal, with the result
that prices on the lowest grades are now $2.75@$3,
and it is said that the ordinary steam coals are
quoted at $3@$3.50, f. o. b. New York harbor shipping
ports, although none is to be had. Trade
in the far East is calling for considerable coal,
notwithstanding the fact that supplies had been
laid in early in the summer when deliveries could
be made freely. Along the Sound business is
very active, but only small quantities of coal can
be had. At New York harbor requests are urgent.
In the coastwise market vessels are in fair supply,
but lack of coal has made the demand small.
From Philadelphia rates are 70c. to Boston, Salem
and Portland; 75c. to Portsmouth and Bath; 60c.
to Providence, New Bedford and the Sound.
The demand for anthracite shows a steady increase
but tidewater deliveries have been interfered
with as a result of the meagre supply of
cars and interruptions in transit due to severe
weather. Production at the mines was rushed
prior to holiday week in order to meet the loss
due to the custom of the miners of taking a holiday
from Christmas to New Year's. This vacation,
however, was not so general this year as
heretofore, and had no great effect on supplies except
in spots. The embargo on shipments to
New England by all-rail is continued. The situation
of affairs on the New York, New Haven &
Hartford lines is serious, and freight seems to be
tied up indefinitely. The reason for this em-