The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1879-08-23
The Coal Trade,

Philadelphia Ledger, 18th The darkest
hour of the night is said to be that which inn
mediately precedes daylight If this holds as
true in temporal things as in the movements
of nature the anthracite coal trade of 1873
must have passed its darkest hour at the close
of last Wednesday auction sale at New York
by the Delaware and Hudson Canal Compa.
ny. Fifty thousand tons in all were sold, a
good number ofpersons being present as buy
ers. The several sizes of coal offered were as
follows: 12,5O0 tons of CRATE, 500 tons ol
egg, and $4,000 tons Of stove. The CRATE was
the first lot offered it was started atSl 10 and
was run up to 50 per ton at which it was all
sold. The egg coal was next put up it was
started at 81 and ran up to $2.12l per ton at
which figure it was all taken. A start was
made on the stove coal at 1925, and it ad-
Yanced to $2,32!, at which it was all dis
posed of. The last previous sale of this com.
pany was on the 9th of April last, when
the prices obtained were as follows; Crate
$2,25j egg, $2,45; stove, 1910, One who
was present at the sale, and who is intelli.
gent in coal matters by long practical ex-
perience in the business, informs us that
there is no doubt that the sale was entirely
fair one and the prices the highest that
could possibly be obtained at the time. The
decline on the prices obtained at the auction
sale at the same place just two weeks before
was 80 cents on the broken, S2l on the egg
and 4ll on stove. These figures show q
marked decline in the price of coal, that
for crate being the lowest price ever known
1t was announced that, should the purchas-
ers fail to take the coal away before the Slst
instant, the company will be relieved from
all liabilities to deliver, and the fifty cents
per ton deposited will be forfeited. 1t is moi
probable, however, that buyers will fail tc
claim their bargains before the expiration ol
the time limited. Anthracite coal cannot be
put into the market at anything like the
price here quoted. The end of selling coal
at less than the cost of production we believe
has passed for the present. For a year and
half or more there has been steady and
persistent effort on the part of the trade tc
hold prices up to a fairly remunerativt
point. All last year the effort was directed
to unity of action through Cancellation. Il
was but a partial success, and was wholly
abandoned as policy for this year. Every
body has put into the market and sold al
much cool as possible, and to-day the an.
thracite production is about six millions OF
tons more than to corresponding date las
year. All along reports have been weekly
and monthly furnished that this coal had
gone into consumption, or, at least had beer
taken out OF the market by purchase. Ther,
is now some reason 10 doubt the impression
general that this years production Of Goa
has gone into consumption, even supposinl
that any considerable portion is stored fol
future use. The large consumers Of coal
those who use it in large manufacturing es
adjustments ana for steam marine pur
poses, well known that coal cannot be afford
ed at last. Wednesdays auction prices. 1t is
therefore 10 be presumed that there is NOR,
coal on the market than there is curren
sale for. That unity which could not b,
brought about last year, and so far th
| year, of maintaining prices at remuneratiV,
points by self-limitng production, checkinl
1t as prices decline, has not worked satisiac
torily. The impression months ago wa
that the revival Of business, which ali hav,
so gladly welcomed, would take all the Goa
that could be produced during this year
/ That impression time, as the year has ad
vanced, has not confirmed. 1t is now tht
almost universal opinion that there is to,
much coal on the market. How shall th,
/ product be lessened- and reason
ably, by united and general suspension o
coal transportation, which would work ,
| stoppage at the mines for one, two or NOR,
weeks, until the supply of coal should b,
used upj or, by the harsher operation o
continuing full production until the leas
iayorably located of operators are, one b,
one, broken up and forced out of business
by. their more favorably situated rivals
All coal is not put into the market at th,
same cost. There is a difference Of ten t,