The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1879-06-28

steadily and evenly. The supply OF coal
gradually increases over corresponding time
last year, and the excess may by the first of
the next month nearly or quite equal five
millions Of tons. Weekly for the last few
weeks the production slightly increases on
each preceding week; ard also for the last
few weeks the stocks Of coal on hand are
gradually less than they were for the next
preceding week. In other words, the supply
Of coal does not increase upon the demand
for coal. A good deal of the product now
coming upon the market is furnished at the
lower circular prices Of two or three months
ago, when the coal was sold and paid for at
the then current prices, TO be delivered
thereafter as called for. This arrangement
between buyers and sellers resulted in meet
ing the necessities, of the sellers for ready
cash at the time of sale, and the buyers were
advantsged to the extent Of the difference in
prices in the early spring months and those
current during midsummer. Tho loss, it
will be seen, is on the part Of the seller Of
the coal, and tends 10 make cash all the time
scarcer in the future, until the coal is deliv-
cred, as long as the practice is continued. 1t
has been hoped that the increased consump-
tion Of coal, thus increasing the market de.
mand and the tonnage of the companies,
would more than make up the difference
lost by reason Of selling the production of
the first half Of the year at the low spring
prices. This may be, but the companies that
adhere all the time to current prices and do
not oversell will all the time have the ad-
vantage over those companies that do over
sell and at no time get above the lowest
prices. Prices ought TO be 25 to 80 cents
higher in June than they were in May, and
yet il is pretty we'll known that very little
Of the June production realizes the increas-
ed price over May named. The arrange.
nent is not wholesome one, as those com.
panies which have tried it will find before
the year is ended, The price Of coal is now
too low, and about the only hope of the coal
trade now is that the revival of business
generally, and especially the trade in iron
and in iron industries, may SO increase the
demand for coal as to advance its price to
remunerative points during the last three or
four months of the year, and at least so long
in future as to lift the years business above
loss. There is a fair demand for the harder
Goals, indeed for some sizes of such Goals the
demand is beyond the supply, while for the
softer or free burning Goals there is such an
excess Of production as to depress prices,
rendering the general market dull and
heavy. There is desire among some oper-
ators to shorten the supply of coal by unity
Of action--by a suspension of work at all the
mines. This is met with the declaration
that some Of the companies have promised
steady work to their employees at all their
mines for the entire year. Others look upon
the disturbed condition of the miners and
other workmen in the Lehigh region, and at
Scranton, in the hope that it may eventuate
in some interruption to the trade, but, in the
absence of general grievance in the trade,
local complaints are not likely to result in
anything effective. Still the outlook is fair
ly hopeful. The Goals from the Schuylkill
and Lehigh regions are coming forward in
good supply, and the demand is such that
the production does not accumulate on hand,
and while this continues the real situation
cannot be considered unpromising for the
trade as a whole, and hence present low
prices should not be considered as the rule
for the remainder Of the year. There may
be no suspension, but the two contingencies
mand may slowly work the result desired
through the more direct action of short
total stoppage. AS an instance of desire
to limit the market supply of coal it will be
noticed that the Delaware, ,Lackawanna''a ''and
Western Railroad Company will offer at its
next auction sale, Jn Wednesday of this
week, but O,C00 tons of coal, instead of l0O,-
900 tons or more, us heretofore. The prices
at this sale are not likely to be lower than
they were at the last sale; indeed, it is esti-
mated by some parties in the trade that they
| VIII Oe duNdnCcu' MUCH III TeIeTeuCe 10 Tue
immediate future of the coal trade will de-
pend on this sale, though, as a rule, we
place little value on auction sales as future
guide to market prices, especially If they
point downwards, for it is we'll known how
easy it is for little concert of action among
bidders to establish low prices. There is
nothing now that indicates lower prices fol
coal this year, while in the face ofa probable
increase in demand, and the positive fact
that coal cannot be mined and put into the
market at lower prices than are now charg
ed, there ought to be no hesitation on the
part of consumers as to putting in their mex
winters supply at once. There has been al
extraordinary consumption going on all th'
current year, and it promises to increase
from this time forward.-Ledger Monday.