The Providence news. (Providence [R.I.]) 1891-1906, 1902-12-18

BO0MED
AGAIN
This Morning SITS Was Paid
andS2 Asked a Ton for Trans
portation Of Coal.

The principal feature OF the day in the
local coal market has been the booming
of the freight rates. This morning sl75
ton was paid and 81 a ton asked for
the transportation OF coal from New
York here.
Two months since the freight rates were
! low. The normal rate is from 45 to so
cents ton from New York ports TO
Providence. The rate to Philadelphia
and Newport News and Norfolk range
about the same, g. cents being a fair
figure.
The rates have been doomed constantly
since the resumption of work by the
striking miners. The top notch has been
reached today. To pay these rates that
every round trip for a 10o0-ton barge
means $4,000. and the expenses OF towing
and the other incidentals has not in
creased.
Two months since a round trip for
1000 ton barge meant from $3.50 10 A75. and
possibly $500. The consumer pays the
freight and he Is paying pretty dear for
II at the rates which obtain. 1t would
appear that the prediction made by The
News that freights would possibly reacn
81 a ton will be realized quickly.
In addition 10 this rate the coal dealers
have TO pay demurrage at the rate oi
six cents a ton for each day the barge
has 10 wait for cargo, and weeks
delay would mean the cost OF transpor-
tating a ton. of coal here would be $2.72.
The owners of the transportation com
panies are real ping their golden harvest.
There were but three arrivals of coal
today. The schooner Addie ingalls,
brought cargo of 25l tons OF pea coal
TO the Providence Coal company. and
that is the extent or the hard coal To
reach here. The tug c. b. Sanford and
tow. which was expected to start from
New London yesterday morning for this
port, had not showed UP In the harbor at
o'clock.
The tug Baccaneer. with the barge
Pactolus. got in from Baltimore today
with 1855 tons OF coal for the Eastern
coal company. This is soft coal and is
about one days supply for this company.
The schooner Lucy H. Russell. with
1869 tons OF soft coal came i'm from Bal
timore this morning with the cargo con-
signed TO the Consolidated road.
The situation is growing no better.
The coal dealers have reached the limit.
None OF them is selling coal, for a rule
none has coal 10 sell. But on the other
hand all are doing all they can to secure
coal for their customers. but with com
paratively little success.
Inc uealefS nave coal aUOat, Dut the
time OF arrival is something which can
not be determined. The tug G. B. San
ford. with coal from New York. was 1S
hours late when IL put into New London
on Tuesday morning. The tug planned TO
lose something like 20 hours more but
II Is evident tho tug did not start out
yesterday, and II IL started this morning
II would be upwards Of 60 hours behind
time. And IL Is but 10 hours run from
New London 10 Providence.
This Is simply an illustration OF the loss
Of time experienced in making small dis
tances, and IL is not unusual at this sea-
sou OF the year for g tow To be weather
bound for a week or more. There are all
manner OF prices prevailing In New
York. II would appear that the needs OF
the purchaser establishes the price
The prices at which coal Is offered are
prohibitivc in this city. as = rule. and yet
there Is an Imperative demand for fuel
which Will place any price for coal II Is
possible that there will he relief locally
tomorrow Today Is not bad day on the
water and Il may be the commanders
tows have taken advantage OF Il and
have gotten as far this way as possible.
WILL REOPEN MINES.
The Rusden Machine 60. OF Warren IL
now repairing and getting into shape the
machinery that was Installed several
years since at the Portsmouth coal mine.
and while previous attempts 90 operate
the mines have not been successful from
a financial viewpoint the present strin-
gcncy OF the coal market would seem TO
commend the wisdom OF re-opening and
again working the mines.
II is believed there will be n ready sale
for the coal when mined and II Is be-
Neved that experiment with the Ports
mouth fuel may result In giving people
q knowledge Of ths coal and ths possi-