The Providence news. (Providence [R.I.]) 1891-1906, 1902-10-28
1ST CARGO OF
HARD COAL
SINCE MAY
Schooner J. C. EIweII In Port
With 1000 Tons Of Welsh
Fuel, R0Shippad From Portland

The schooner j. C. Elwell, a good
early this morning from Portland with
a cargo of welch coal which was re-
shipped from that port TO this city. The
cargo was about 1000 tons and II was
shipped from Wales to Portland in the
steamers OF the Allan Line where II was
purchased by Boston man as a specu-
lation.
The coal was the first hard coal 10
reach this city since early In May and
It's coming attracted a good deal OF at
tention along the water front. The Bos-
ton owner had sent an agent with the
cargo and this man visited the various
dealers OF the city today seeking 20
sell the coal at 81. Is ton alongside OF
the wharf. This price was more than
the local dealers cared TO pay
Some Of the coal had been sold 10 peo-
pie north OF Providence and for this
reason a part OF the cargo. al least will
be sold In Providence provided the own
er can get his price The coal is prac-
tically a camel and burns freely. being
particularly adapted for open CRATES.
but IL will burn finely in any form OF
stove and furnace.
There are three sizes in the cargo.
stove. egg and furnace, all mixed In to-
gether, and IL would have TO be screened
before 1t could be sent out At the
price quoted it could not be sold under
sll a ton and I'm view OF the condition
OF the market and the probability of
coal reaching here soon none OF the
dealers cared 10 invest.
This morning the conditions OF the To-
cal market were not changed. There is
no hard coal in sight and there is not
a great deal of soft coal 10 be found.
At the Eastern Coal company, IL was
stated that the company had been oblig-
ed TO inform three mills that II could
not supply them longer with coal There
is no price quoted on coal, that Is an
thracite, and soft coal remains firm at
$3.50 a ton.
operators, the price for coal Is s. n ton,
an advance OF 80 cents over the price for
a year ago. and that this price Will re-
main until next spring at least As the
coal operators mine from $1,000 10
5S.000O0 tons of coal a year, the dealers
estimate that this means a profit Of at
least 500. 100000. which the coal operators
will make, because of the increase in the
price over that OF a year since.
The freight rates between this city
have increased from 70 cents to SIS paid
and and 30 asked, with no barges to be had.
10 cents a day. and the Eastern Coal
company now has three barges awaiting
cargoes at New York, on which the de-
murrage amounts to about si75 day, and
these barges have a capacity Of 300 tons.
Unless barges be engaged there Is no
chance OF getting transportation when
coal Is to be had and the demurrage Is
paid. The demurrage must be added to
the cost, with y;the freight. and 1t is esu-
mated that the cost OF handling the coal
and delivering IL. when IL reaches this
" "a
will be seen that the cost amounts TO a
considerable sum. in excess Of the price
charged bv the operators.
The dealers say that people who do not
know the business know great deal
about IL, and one OF the most prominent
dealers said this morning that he never
felt more discouraged over the prospect
than he did today. He believed that Il
would be n considerable time before an
thracite coal was received here, although
the future could not be foretold.