New-York tribune., 1903-01-16
RAND MEN GRUMBLE.ee =
BUT PRICES DO NOT Fall
Settling Transuaal Problems-Latea
NezCs of London.
fspscial to The Nsr-yerk Tribune by French eabIe1

fsneciai 10 The New-Yerk Tribune By French Cabe)
Copyright: 1908: BY The Tribune Assoeiaton3
London, Jan. 16. / a. m.-South African mihe
owners grumble over the contribution to the
expenses of the which has been ieVlen
against them, but the market quotations snow
that the value of their securities has not peeh
reduced by Mr. Chamberlain's negotiations
The terms proposed by Lord Miner have Vlrtu-
ally been accepted. and the mine owners can
comfort themselves with the reflection that Sir
Michael Hicks Beach's original estimate OF the
TransvaaI's bill of costs has been cut down
two-fifths Even with their relief fund in re-
serve the United Kingdom, after being heaVhS
taxed year after year for the war, will pay m
terest OH All increased Indebtedness of Sooo'-
OOOOOO The improved feeling In the mining
market is due to the close approach OF settle
ment of both the Transvaal contribution ana the
labor question Leading operators have diff
ferent views respecting the employment of Ind
ian and Chinese labor, but they unite in the
declaration that settlement of all questions
connected with the mining industry is of the
utmost Importance. Great masses of British
capital are locked up in the Rand and cannot
be made productive until the conditions under
which mining may be conducted are clearly
kmwn.
The suggested Introduction Of Chinese labor
for the Rand mines excitee much criticism ana
opposition. 1t is safe to say that no decision
has yet been arrived at by TIE government on
the subject.
The coal merchants of London have received
with Indifference the news that Congress mas
passed bill for rebate of the duty on all
foreign Goals. 1t certainly is not expected that
there WILL in consequence, be an increased de-
mand from the English collieries. but at the
moment shipments TO United States ports are
proceeding with the same regularity as has been
witnessed since the truce in the coal strike. For
the last six weeks, according to a rough esti-
mate provided by a large coal contractor
from 10000 to 100000 tons have been shipped
each week to America from Great Britain.
The American liner ST. LOUIS left South
ampton twelve hours behind time, and made
bad run to Cherbourg. losing several hours
there. Her agents here asserted yesterday that
this detention with the bad weather through
which the Philadelphia came eastward helped to
explain her protracted voyage. They reported
the number of first class passengers on the St
Louis as sixty-three and expressed the conf
dent expectation that they would land safely in
New-Y York.
Down to an early hour this morning no news
of the ST. Louis has been received 1t is con-
sdered probable that set of engines Is
broken down or that she lost her propeller in
which event her experienced commander. Cap
tain Passow, would only be able to proceed at
considerably less speed than the twenty knots
of which the vessel is capable The non-ar-
rival of the steamship caused her in the ordi-
nary course of events to be placed on the over
due market at Lloyd's, on Tuesday, when f2 IS
per cent was paid for reinsurances On Wednes-
day these were effected at f5 5s. and yesterday
at SO los. Her value is put at about t40O,OOO.
The International Mercantile Marine Company
has recently been considering an arrangement
whereby it will take a considerable line in re-
spect to each of its boats 1t stated that
the cancellation of existing insurance does not
take effect until after the arrival of the St
Louis on the other side. that the risk is with
the original underwriters.
The extreme cold weather is proving stlmu-