The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1880-07-10
The Coal Trade.

The Coal Trade.
The anthracite coal trade continues in
much the same condition as for the last
eight or ten weeks. All the several leading
companies in the trade regularly issue their
monthly circulars and profess to adhere to
the prices that they fix. The receivers of
the Philadelphia and Reading coal and Iron
Company announce the prices of coal for
the month of July, delivered free on board
vessels at Port Richmond, as follows: Lump
and steamboat, "a TOj broken, egg and atove
S4 80; chestnut, S4 10; and pea, SO 80. All
the other companies adjust their several
prices to correspond with those first an
nounced,so as to avoid any seeming cutting
under. While this observance continues
the rule, and the rule is faithfully adhered
to by all the several parties; there is hone of
favorable ending Of the years coal trade.
We hear of a slightly increased demand for
coal, week by week, and consumers have
generally ceased to make efforts to cheaper
prices below those named in the circulars.
These are favorable indications, and inspire
a hope that a healthy revival of the trade
will manifest itself before the month is out.
As yet, however, the trade, as reported by
the Pottsville Miners Journal ofthe present
week, is very much as we find the market
ourselves, namely, steady with an improv-
ing tendency. Dealers generally have aban-
doned all hope of the spring trade develop
ing at later period than usual, and now
confne their expectations to brisk fall
trade, of which there is at least a reason
able prospect, as by that time ii is safe to
calculate that the excess of last years pro-
duct will be pretty well worked up. There
is not enough coal now being sent forward
in excess of the demand TO derange prices,
and hence nearly all that is being sold is
bringing full circular rates. The exceptions
to this rule are confined to small lots Of
certain kind in excess Of o well balanced
stock, and are not sufficient to disturb the
trade by leading to any general cutting Of
prices. The coal regions are quiet, The
men accept the alternate three days of sus-
pension in a commendable spirit, knowing
that some form of suspension is necessary
to maintain prices and enable the operators
to pay good wages for the time employed.
They believe that the enforced restrictions
will not last longer than the middle of Au-
gust, and think is probable full time will be
resumed on the first of that month. What
ever the policy however, they acquiesce in
it so long as the operators make use Of it to
keep up prices. The journal adds that a
great deal of sensational gossip Is being pub
lished about the Reading Railroad and Coal
and Iron Compahy's affairs. 1t generally
originates in the city papers, and is copied
into the papers Of the coal region, where it
would be supposed the publishers are sufi-
ciently enlightened about matters in their
own territory to be able-to form an exact
estimate of the truth of these statements.
We give them a wide berth, satisfied TO
await correct statement of The eompany's
affairs and policy which will be issued just
as soon as an inventory ofthe property can
of each piece of its large property arrived
at. Meanwhile it is not difficult TO predict
the policy of the company in regard to its
coal lands, the portion of lis estate in which
the people of schuylkill are moe. generally
interested, It will retain possession of all
that can be proftably worked and let the
remainder go. But it may be necessary to
scale the prices OF nearly the whole estate
which will be retained, and this can only be
done by giving the option to the seller to
take back his property or renew his contract
of sale on basis made in accordance with
the usual financial transactions of the pre-
sent time, when 4 per cent Government
bonds are considered profitable invest
ment That is contingency which the
holders of the cent Coal and Iron bonds
will undoubtedly have to face, and this will
be the only change of The policy Of the com
pahy in this region The anthracite coal
market now claims fair share ofthe atten-
ton Of anthracite coal producers. The re-
ports from the Chicago market are now of
general interest. The last weekly report
from that city says coal has been shipped of
late TO that city from Butiolo by lake at 55
cents. The coal receipts during last week
amounted to 5l,ls4 tons, and the receipts
since Jan l to the 26th Of June TO 1 ,lG6, $50
tons, against gS9 ,252 tons for the same time
last year. Since January the coal shipped
thence has amounted TO 256, ,I07 tons against
1890 tons shipped in the same portion of
1879. Trade at Chicago is quiet, as every
body there is delaying purchasing until the
usual summer decline in pEiees occurs, but
exactly when this decline is 10 take place is
not yet apparent. The tonnage Of the Della
ware, Lackawanna aud Western Company
up to JuDe was only 1873 tons below the
tonnage at the same time last year, while
the shortage Of the Philadelphia and Read
ing Company for the year was 592,767 tons.
A fortnightly suspension in July itisthought
VIII not be successful, President Sloan not
agreeing to such an arrangement.-Leigr,
Monday.