The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1894-01-10

Since it Is in a measure competitive
against anthracite, the trade in oitumi-
nous coal, as reviewed for 1898 presents
some points Of reminiscential interest
in this connection. We condense what
follows from the Engineering and Min
ing Journal: "Bituminous coal of all
descriptions during the first five
months of 1898 was in strong. healthy
position, and in January, February and
March demand was active, operators
and large shippers being at times un-
able to fiji orders promptly. Coal
carrying roads were taxed to their full
capacity In February the severe
weather rendered it difficult Tor ship
pers to supply fuel to regular Gus
toners. and all now business WAS &C.
cepted only contingent on ability to
fill. Toward the end of March the
supply of bitumlnous coal was over
abundant. The big strike in the Hook
ing Valley in Ohioin May caused little
embarrassment in the market, as sup
plies were ample. shippers taking liberal
quantities before the miners went out
The opening Of many new mines in
the bituminOus coaltields Of Indiana
began TO affect the tonnage of the
block coal men and prices weakened.
The closing of the steel mills at Joliet
threw a large quantity of tho cheaper
grades of coal on this market, causing
a drop in prices. Other plants and fac.
tories shut down, and coal was offered
st cost of mining plus the freight in
order to keep the mines going at least a
part Of the time. Operators exercised
the usual caution in credits, so that
while demand had fallen of and prices
were demoraliZed there were few fail.
ures to quote. The withdrawal of
many passenger trains at the close Of
the Columbian exposition was also a
factor in decreasing the tonnage, which
was not offset by any increase IN freight
traffic after the close of navigation.
The year closed with a congestsd mar.
ket for all kinds of bitumiuous coal.
and prices are completely demoraliZsd.
The same authority presents an in.
teresting review Of the trade in anthra-
cite. In this trade the year opened
well, with q good volume of small
orders. Rumors of break in the COM
bination had a weakening effect in
February. The heavy surplus of shat
month caused much inconvenience
through inability to get supplies for
warded to the country. Bituminous
coal was so short that many steam
plants were obliged to use anthracite.
March maintained its cid prestige as a
good coal selling month in the several
branches, and stocks steadily decreased
notwithstanding large receipts. About
April stocks were estimated at 28O, 900
tons. or barely enough to last. The
Straits of Mackinac were opened April
- and coal began coming forward by
lake. The feeling of a possibility of an
advance in June somewhat stimulated
buyers. May was unusually cold and
trade active for small lots. Scarcity
of cars at mines enabled shippers to
move good tonnage Of dock coal.
Pea coal was scarce and in good de.
mand. The advance of % cents in
June was severely criticized. Still a
good deal of coal changed hands at
| May circular WITH settlement TO Oe
made in October. The strained condi.
ton of finances affected sales and to
ward the latter part of June they fell
off considerably. Another advance of
25c, July only served to make mat
ters worse For short time the strin
gent orders from producers east had its
effect, but prices soon drifted back to
the old figures. Tue separation of tho
Lehigh and Reading interests in Au-
gust caused a further weakening in
prices, which. coupled with the in
creasing depression, added greatly tc
the dullness in the market. Careful
estimates disclosed the fact that up tc
the end of August the tonnage sold
was fully 90 per cent. less than for the
corresponding month in 1892. Through.
out September and October country
dealers continued their conservative
buying. At the close of navigation
the docks and yards became gluttst
with coal, and many loaded vessels
were tied up at the various docks
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