The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-06-01
BUSINESS BREvlTIES.

THE COAL SITuATION.-SayS the
Engineering and Mining Journal:
There is no change in the anthracite
market. All conditions are practically
what they have been for the past six
weeks. There Is a fair movement of
coal, consisting chiefly of current de-
liveries on old orders before the last
advance. The west is taking the GUS
tomary amount at this season and Is
putting in some stocks. The eastern
market Is improving and inquiries ara
coming in more freely. In this market
new business is still very light. Good
customers of the companies are able to
buy at the net circular price. $3.S5 for
stove, $3.50 for egg and chestnut and
$3.35 for broken, net on board. the full
rates obtaining only on small orders.
So long as the companies will not agree
to insure their good buyers against
losses arising from Il decline in prices
later on, there is no particular induce
ment for stocking up at this time, espe-
cially if the buyer remembers the in
stability of she market and the uncer-
tainty Of prices Of the past two years.
Notwithstanding this seeming lack Of
confidence in their own ability to MAIN
tain prices in the fall and the present
dullness Of the trade the market today
IS stea der and firmer in tone than for a
long time past. 1t is true that the gross
earnings CT most of the companies show
a considerable decrease as compared
with the corresponding period of 1899
but on the other hand the statistical
position of the market is much better,
from sellers standpoint. Shipments
of anthracite during the month OF April
were 3,01319O tons making 12,459,2SS
with the corresponding period of 1895,
The tonnage for May and June will be
at the rate of 100000 tons per month.
which will mean 1S,500, 600 tons In round
numbers for the first half of the year. it
has been estimated that the market will
take at least 44.000.000 tons this year.
or 25,500,0 900 tons during the second half.
This means that the production from
July to Dec. 81 will have to be at the
rate of 4,250000 tons monthly. In view
of the decreased amount of dead work
done during the past year, 4,250,000 tons
per month will require very nearly
working on full time to ship. 1t is the
knowledge of these facts which enables
the companies to bide their time. The
report that prices will be advanced
again on July circulates persistently.
There Is no doubt that the companies
desire 1t, but the advance may be de-
ferred until Aug. l, as some of the
prominent interests are understood to
be against too early an action. 1t looks
now as II at last the seller will be in a
position to dictate to buyers next fall,
for the first time since the Reading
combine"
RAILROAD EARNINGS. - Gross
earnings of all roads in the United
States reporting for May to date aggre-
gate 1888, ,165, a gain of 27 per cent
over last year, and loss Of 1917 per
cent in comparison with the corre-
spending period of 1893. Below Is given
gross earnings of all roads in the United
States reporting, for the last four
weeks, this year and last, with per-
| centage Of gain:
1896. 1885, PC.
Is roads, fourth
week of April .... ..s74l31Os s7,22o.s4o ~27
70 roads, first week
of May: ............. 5.4s6s45 5,cG2, 29s '4.A
81 roads, second
week of May ..... 5,1474O1 4,9S5,974 49,
so roads. third week
Of May ............ 4,7l9,56s 4,7Os, 1893 a
sPlus.
IRON AND STEEL.-Markets for fin
ished products continue dull, says
Dun, and pig iron Is everywhere weak
er, accumulated stocks being the larg-
est ever known in the history of the
trade, 1t is said. The billet pool IS not
yet able to sell any quantity, as middle
men still supply the scanty demand
half dollar below the pools price,
while several concerns are preparing ia
make steel for themselves. At the east
| pig iron Is weaker at about $3.50 for
No. foundry, and 1t is believed over
/ two-thirds of the twenty-four furnaces
in Virginia. with some in eastern Penn
! sylvania, will have stopped within a
| few days. Others have stopped in the
Mahcning and Shenango valleys The
manufactured products show no i'm
provement: rails have numerous small
orders at the west. but scarcely any al
the east. and bar manufacturers at Chi
cage are trying to advance prices, al
though steel bars there and at the east
are getting larger share of the busi-
ness, being sold at lower prices. Bes-
semer billets are also losing some busi-
ness because open hearth steel billets
are now offered at a shade below the
price CT the pool The markets would
doubtless be weaker all around but foi
the general feeling that Improvement
will come after the political conven.