The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1877-06-09

The principal feature Of the anthracite coal
trade for che past week centres in the auction
sales at New York of 100000 tons Of the several
sizes OF coal The result was a slight advance
on the April auction sales for the larger sizes of
coal. but severe reduction on the prices Of the
smaller sizes. The average decline on the ag-
gregate sold is such as TO render it probable
that ali the sales were bona tide, the attendance
beng large and the interest manifested lively
Throughout The prices obtained, as compared
with those realized at the April sacs, which
were generally believed TO have been cooked"
showed much larger falling off than when
compared with the prices at the March sale,
which were not so much "dOcJOred," II doctor
ed' at all, as were those of the next following
month. The great fall, however, of ~ cents In
stove coal ana 33 cents in chestnut brought
down the general average OF the sale TO 81 ~ a
ton, or rs cents, below the Marcn sale The
Delaware LaCkawanua and Western Company
sold over l5O 600 tons an average decline of about
so cents ton from the prices realized at the
April sale by the same company, The heaviest
decline was in stove coal-6iL cents a tone
which 54,t tons were sold. The teeiing among
dealers was at once general that the low prices
established by the sRlos would be practically to
annu0l contracts for future delivery. 1t is well
understood that in large majority OF cases a
contract for future delivery Will count for little
IL the price declines before the coal Is accepted
There IL no arbitration comm tteo among coal
men to settle disputes, and If "A purchaser does
not wish to take the coal when delivered, all
he has to do is to declare 1t is "slatY'' or other
wise Objectionable. and refuse to accept 1t. Not
withstandlng the fact that the Reading Coal
and Iron Company Immediately after the sale
attempted to overcome this difficulty by offer
ing to deliver coal during the month of June at
The average auction prices regardless of pre-.
vious contracts, the company separated with
notions considerably depressed as regards the
trade, and with good reason. Coal sold lower IN
New York last week than 1t ever sold before.
The effect of all tins Will be a lessened prOduc.
ton OF coal. Several mines have already STOP
pcd ln the Scnuvlki!l region, and most OF the In
nivicual operators, 1t Is believed, VIII stop al
most Immediately, In this movement, however,
we think the bCFiDring Of the end is becoming
apparent. Several Of our large producing and
CARRYING companies have for the last two or
three months hud large fixed liabilities to meet,
and in their shortened financial situations have
had no other means to command the money
with which to do 1t than through the sale of
their coal, of which they had great abundance.
I.lJ las been done to large extent, and at q
| v'y Eeavy sacrifice in price. The end, the
4 ton OF the cOmpanles, has been looked to
as. 1uStitylng the means TO accomplish it.
Whether this consolation will be found sufficient
remains to be seen, This cheap coal has found
new fields, and has trencbed heavily oil the pro.
fits of old companies more favOrably situated in
| their finances, thus involving all in common
| tate. The first to give sign under this pressure
| are the individual operators They will now
compete with the corporations alleged to be
selling coal at loss, and all the great coal de.
| pots and centres for coal distribution having
| comparatively small stocks on hand, higher
prices. from the fact that the supply OF coal on
| hand very soon Will be short of the current de-
mand. must soon follow. There Is mnch reason
TO believe that the prices of cOal-is now at It's
lowest point for thus year, and the coal trade In
| all ito departments at its greatest depression
| VI u puOllC 10
| day last, had been received from MIR. GOwen
| Reports find their way to the street that he has
| probably accomplished the main purpose Of his
mission, and there is this one fact to support 1t
| namely. that the company Is daily meeting al
its liabilities as they accrue, and the doings IL
| and about its treasury department Indicate @
ready command Of cash. OF course nothing II
| known az TO united suspension of coal prOduc
tion for month. but 1t is believed to be mort
| probable IL MI. GOwen's mission abroad proves
| a success than IL he should fail IN his purpose
and If a months suspension Is carried into effec
| materially higher prices for coal are quite Ger
| tam, in which case the year 1877 may prove
| much better coal year for those In the trade
| than any thus far have ventured to hope. VIZ
| know Of nothing that would more effectually
| brighten the present aspect of business affair
in ourm'dst and encouragelthe future than tn
| consummation alluded tO.-Ledger, Monday,
REPORT OF COAL transported over Lehigl
| " Susquehanna DIVISION, Central II. X. o
New Jersey-week ending May 81. 1877.