The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1897-08-06

The August letter of the anthracite
coal operators association has this to
say about the condition of the coal
market:
During the past month the anthracite
market has shown a steady gain both IN
volume of business and advancing prices
While most of the shipments were to I'LL
orders received prior to July 1, and at
prices then current there has been
noticeable increase in the small volume
of new business on the present circular
Tho Association said in its July letter:
1T can safely be said that anthracite
Will not sell for less than It's present
price during this summer or early fall,
and that purchasers have everything IA
voring profitable investment" The
truth of this assertion has been clearly
shown during the past month and the
market conditions justify its repetition.
Domestic consumers have been slow to
lay in winter supplies and consequently
retail dealers are unable to move their
stocks and unwilling to materially in
crease them. This might cause a slow
market in August but should there be
an advance in the circular, to take effect
September l. as is likely, there will un-
doubtedly be increased buying. This
would be of decided benefit, as otherwise
there will be an abnormally active de-
mand i'm September, which neither rail-
roads nor colieries are in a position to
meet.
JUNE SHIPMENTS
Shipments in June largely exceed the
estimated requirements of the market for
that month, but Notwithstanding this, the
tidewater stocks ut the close of the
month were less than at any time since
January 81 1898. Interior stocks were
nj 1ftrht ulD hat l,n
taken by the market, and that, without
any concession in price. The July ship
ments will exceed the estimated 3,000,O 900
for the month, by about 500, 900 tons. 1t
is now calculated that the market for
July and August will require 100000 tons,
or, deducting the output for the past
month. $4,000 tons in August. This will
likely be little less than the actual re-
quirements but If 1t is not exceeded
prices will become even stronger and pre-
pare the market for the probable ad-
vance in the circular.
There is q noticeable scarcity of the
small sized steam Goals. Prices for pea
have been advancing, but there has been
little Improvement in buckwheat, al
though it has not at any time this year
been produced in excess of the demand.
The western market is in an exception
| ally good condition for new business.
| While there can be no doubt but that a
| very considerable anthracite tonnage has
| been replaced by soft coal and gas dur
| ing the spring and summer, yet the deal
| ers' yards are almost empty. and no.
| where are there any large stocks of an
thracite coal This means that a heavy
tonnage must go forward before naviga-
| ton closes.
With reference to the status of the
trade the letter says:
PRESENT POLICY ENDORSED.
The Association has condemned in no
| uncertain terms the policy which pre-
vailed in 1894 and 1885, and occasionally
| showed in 1896, and it now as frankly en-
| dorses the present management of the
business. The change which has taken
place has been a radical one. 1t was an
| evidence of sound business Judgment but
| none the less has required patience, and
even fortitude to accomplish
The anthracite mining and carrying
| railroads have had a limited market for
the fuel during the early part of this
| year, and as their tonnage was held with
| in the consumption there was necessarily
a decrease in traffic earnings That they
| faced this. after the losses incurred dur
ing 1895 and 1896, and the reduction of the
| dividend rate on several properties, shows
! that they recognize clearly the gravity of
| the situation and the urgent need of its
permanent betterment, and further, that
those who have large interests in several
of these properties, are determined that
| their operations shall be conducted in
such manner that their investment in one
shall not be used to depreciate that in
al other
For the first six months of this yeai
there has been a steady and determined
effort to bring the trade to a sound basis
and it has been accomplished. During
this period several of the railroad re-
ports have shown decreased earnings as
compared with the previous year, but the
benefits of the work done are yet to come
and, with due allowance for the indus.
trial depression and unfavorable condi
t!ons which have existed, there is every
reason to believe that the anthracit,
carrying roads will close the year will
far better results than in 1896 and Ger
tainly with year of promise for 1898
PARALLEL CONDIIIUNS.
The conditions are parallel with those
which are met by the agriculturist, who
for half of the year must labor diligently
without return, that bountiful harves
NAV result and WELD q muni6cpnt rpcom