The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1877-05-05
The Coal Trade.

Tne most notable event in the coal market
the past week was the auction sale Of something
over 9O0Ol tons OF scranton coal by the Della.
ware, Lackawanna ana Western Railroad Com
pany at New York. But 75,eOO tons, it was 0d
vertised, would be offered. The prices, howev.
er, ranging from GA to 2Oh cents above those
obtained at the auction sale by the same COM
pany last month the amount offered was IN.
creased sQIpe rs, co tons. The coal was sold in
larger lois than usuai, and over UwO-thrds of
the total quantity sold was bought by four
films. award ~ OlYphant, the 'succe ssOrs TO
the reIail business OI the Delaware aud Hudson
Canal Company" tOOk 5000 tons; Mr.. POne-
roy, 1900 Tucker, swan d Co, lAh'O, and MT.
JOurdan 5000 tons. The remainder was sold In
40 lots There were no fluctuat lons in the prices
Obtained for the several grades except steamer,
which opened ut 81 VIZ, advanced to 81 9llE and
then fell on to % %. with an average on the
amount sold o. 81 81 "A ton The first effect on
the market Of the report of this sale was quite
encouraging, but unfortunately the cOnsequen,
ces of a bad reputation soon disslpated the seem
ing advantages OF Ii flush sale at an advance in
prices II was soon whispered among the trade
that the sale was mock" and there were sew
eral circumstances that went far to give the
whisperiugs confirmation, namely, that there
were comparatively few buyers and that
single hrIn, winch appeared 10 force the bid.
ding, was the mann buyer. The entire time of
the sale was but fourteen minutes. Great dis
satisfaction was expressed bv dealers who were
IN attendance iOr the purpose of making bona
flde bids, and 1t was freely asserted that the
sale was ltCtie more than "wash"-that is,
sale b. COllusIOn between DuyeIs and sellers,
with the view OF bOstering prices. This view
of the ca 20 caused u great deal of comment
among the trade, and the fact tAat subsequent
sales were made IN private at last months
prices WAS cited in COrrOburatiOn. These aecu-
sauOus are the more readily believed in this
particular case trom the fact that they have be-
fore been frequently made, and the facility of
uOing Just what is charged has lOng since Oper-
ated to the prejudice Of tine policy of auction
sales. The demand Tor coal, 1t is said, does not
justify any nui ance IN the price Ot coal. In
taCt durlug the Afternoon Of the day of sale, we
see IL stated stove coal was offered free on
bOaro at Perth AmDOy at S3 ton, ami num-
Der Of sales were made at the prevailing prices
about the same rs the March auction sale Tor
large Sues, and 5 Co 20 cents ton less for stove
coal. Advantage was taken by the mlddem n
to sell at last weeks prices. Before the sale
stove coal was offered at IS %. After the auc-
tlOn sale the Lehigh Valley Coal Company re-
duceu the schedule price OF It's stove coal trOm
S3 % TO s3 40 Il ton The Delaware and Hudson
Canal Company advanced Its schedule pryce l5
cents "a ton ON lump, CRATE ana egg, and lU cents
on stove and chestnut grades, the changes with
! bOtA companies 10 take place AZ once Ihe
rates for May 10 Is supposed, will be at justcd as
flr as may ON the prices here indicated. The
SCluylkill coal region Is generally ana some.
! what actively at work, The TONNAGE is quite
! large as ls also the amount OF coal contracted
small that heavj tonnage ON the most ecOnOm-
! zeal working Ia necessary To save those opera
! tors not taYurabll lOceted from loss, and even
] the hest situated G mot hope TO realize any.
| thing IKE the old time profits. II Is, however,
hoped that the low prices Of fuel viii invite TO
increased consumption and, aided by the sti n
| ulus To general trade consequent upon the Gu
rupean war, this lOpe rs within reasonable
| prObaDility.-L Ledgcr, Monday
! The following table shows the quantity OF coal
| shipped over the Lehigh Valley railroad for the
| Week ending April 2sth, 1871 and for the year as
compared with the same time last year: