Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-10-19
SLUMP IN SOFT COAL
,,TrMrNors MUST FALL SOME
WHAT NEXT WEEK.
REDUCTION WILL BE SMALL,
The railway. Are Crippled by Ron
SON of overwo-Ised Locomotives
S,-ci,Y of Conl-Cnrs with
(which TO Handle Immense IrHthc'

/, s,,,nn IN the price of soft coal is ex-
ncctod early in the week ALREADY 'iis
nr.cc of steam coal in New York mas
aronDed iron, SIS or 50 a ton. to $50 ana So'
o,a as ,hese markets generally take the
inj,iatlve in axing the prices the smaller
markets follow. While coal in Richmond
has not sold AZ the high figure il Qua
North the prices were inflated through
the same cause, consequently the I'M
settled conditions which brought buyers
TO high bi6cing FOR psotecuon.
With the prospect OF al early res"fnP-
ton OF the anthracite mining, this fever
ish bidding has TO some extent ceased
leaving the general market in q way to
settle down to active demand,
splint lump is now quoted here at 81
ton at ;he mines. plus freight rate Q!
Kiss. This IS wholesale figure Tor coa'
:: carload lots.
Reduction Be Small.
While everything indicates that prices
Will be lower, there are numerous reasons
WIN the reduction Will be small, and prices
above last year may prevail thfoNshoV'
The winter
a
kets supplying this city. On the NoTtolk
md Western the mines are mining more
coal than the railroad can handle, Inns
road is seIiously crippled for lack OF roll
ms. stock and motive power. The engines,
which have been doing double time IN the
strenuous effort to handle tho immense
traffic. are now said 10 be leaking ana IN
bad repair and substitutes cannot be OBJ
tanned should the demo:alized locomotives
be sent to the shops.
The shortage Of cars, moreover. still OK
lists on nearly every line in the country.
This shortage last year was largely re
sponsible for the stiff price Of Goa! then,
and there is little indication that this Sc
rious car shortage has been met by car
,nanufa curing companies. AT present the
bituminous mines working in PennSyi-
vania arc Usng anthracite cars in shipping
their coal. but when the hard co"l is re-
suned tho bituainous car supply "llj be
curtaied jus: this much. Cars also viii
be in great demand for handling the large
crops.
Situation With c. & o.
The cloud on the Chesapeake and Ohio
may develop into a reality. and John
Mitchell, president Of the United Mime
Workers. may establish his headquarters
along that line and make a concentrated
effort TO bring about & recognition OF the
union in this district, which Will be an
other desperate struggle. The miners
along that line. it Will be remembered,
are still fighting for what they think their
rights
These conditions are to be reckoned
with in demonstrating the future price
of coal, and recently the sentiment or
nervousness of the public is taken as
factor. SO panicay have some household
ers become that should a cold snap come
suddenly, the heavy buying would put
strain on the dealers that under present
conditions, they would have some trouble
to meet and small consumers, not seeing
the deliveries. would naturally. perhaps,
accentuate the serious conditions.
Retail dealers viii not forecast the con-
dition next week. II is admitted that the
present prices are inflated and too high.
The real problem is the percentage Of in
fiation compared with what reasonable
charge for coal should be, in other words,
what reduction would be proper.