The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1898-09-05
STATUS OF COAL TRADE

IHtTt mas DeeIl SllSnI l1llpTONt-
ment in the anthracite market during
the past month";" says the September
letter of the Anthracite Coal opera
tors association, Though little in
crease in the buying movement has
been noted, and prices are practically
the same as at its beginning. The gen.
eral tone is somewhat stronger, and
while buyers still hesitate to lay in
supplies other than for their immedi-
ate needs, they are watching the situ-
alton closely so as to place their orders
promptly should there be any assur-
ance of an advance in price. The gen.
eral tendency is toward a condition
which may place the market again in
the hands of the selling companies and,
if this comes about during the month
of September, further strength may be
anticipated for the remainder of the
year.
"A fair amount of coal has been sold
at present prices for optional delivery
at a later period, but whether this is
in greater quantity than usual cam
not be asccrtained with any degree of
certainty. This practice has always
had an injurious effect upon the mar
ket, and it cannot be foretold what will
result from ii this season. From the
care with which most buyers are
watching the movement of prices, it
might be inferred that such provision
for their future needs has not been
greater than usual.
THE Western market shows no
change. The advance in price has been
on paper only, and all the coal being
delivered there, and that going to the
consumers cellars, is at the prices es-
tablished in July. There has been,
however, a greater quantity of coal
taken by consumers than last year,
but this is probably temporary move
ment to take supplies while this price
is assured. The Eastern market shows
a slightly better condition than that
prevailing at tide, though this is, thus
Ear, largely in the nature of inquiries
looking toward the placing of orders
for future delivery.
THE efforts of the selling companies
to avoid overstocEing the tidewater
market during the past month have
been fairly successful, though there
has been no resulting Improvement in
prices. Nor has there been any more
activity in selling than was shown in
July. Retailers have been in doubt as
to whether or not prices would decline
further, as happened last year; would
remain constant or advance, and con-
sequently have purchased only enough
| to supply their current needs from
week to week. For the same reason
| they have not made any effort to in
| duce their customers to take coal in
| their cellars.
THE present dull condition of the
market is a natural result of the anil
| ity which the selling companies dis
played in previous years. They have
promised low prices in spring and an
| advance in fall, but have done the re-
verse. Retail dealers formerly bought
| coal early in the season, at the price
then prevailing. and induced their GUS
| toners to fill their cellars with suffic-
| lent fuel to carry them over the sum-
mer and well into the fall. While they
| have had this coal on hand, the selling
| companies allowed the price to decline.
| on the dealer for the difference, and
| the latter tried to secure a similar con-
Cessior from the company which sold
| the coal to him, but with doubtful re-
| suits.
| after meeting this difficulty year
| after year, and finding that 1t was
| folly to expect their interest to be
| protected by the selling companies, the
|
| iting such trade during the spring and
summer months. In permitting this
the anthracite sellers have given the
| utmost aid TO the gas companies. When
| an agent of the latter endeavored to
| introduce a gas range, the household
| er who had ten or fifteen tons of coal
| in his cellar was not prepared to con-
slider changing his anthracite burning
range to a gas stove, but the man who
| had no coal was an easy prey to the
exponent of the merits of gas, and es-
| pecially so when assured that there
would be no charge to him for the
| change which it was proposed to make.
"Pf the summer consuming market is
| permitted to develope further in the
direction which it is now taking, the
amount required WILL before many
years, be too small to warrant continu-
ing the collieries in operation. What
| would be the effect upon the railroads
of the cessation of all traffic earnings
| from anthracite for period of one,
| two or three months, is not difficult TO
| comprehend.
The outlook for September is good
| by comparison with the extremely un-
satisfactory conditions which have
| prevailed for the months past. There
| will undoubtedly be a stronger buying
| movement at tide and in the East,
which, in view of the relatively small
stocks being carried at tide or line
| points, must be filled direct from the
| collieries. At the same time, Western
and Canadian shipments will take a
considerable portion of the product,
and the movement to lay in a winter
supply will begin in Northern New
York and at all-rail points in the east.
There is nothing, however. to warrant
the hope of marketing an unusual tom
mage, but with conservative estimate
for the month, S,750,000 tons, there
| would be good grounds for anticipating
lower stocks at tide and higher prices
for the fuel before the month closed,
IAN uncertain feature as to the com
ing months is the possibility that the
vagares of one disturbing interest
may lead the others to an effort to
make its position untenable. Whether
or not this will be done cannot be fore
told. II 1t should happen, there would
result condition which would make
further and serious inroads on the all
| aGin