The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-26
THE WEEKS COAL TRADE.

CHICAGO. March 25.-.The Black Diamond.
official organ of the coal industry, reviewing
the Western coal trade Tomorrow will say:
1.-The slump in bitumnous trade in the Chica-
go and Western markets began TO develop the
middle of last week as soon as it was known
officially that the miners had voted for peace
for two years. and 1t has continued with
abated vigor ever since The decline In prices.
which commenced last Thursday and which has
continued ever since, is the worst known within
the past two years. In addition there is almost
an entire absence Of buying demand and even
at the low figures which being named for
coal to-day. 1t is very difficult 10 sell the best
grades and almost impossible to sell the poor
grades.
THE present conditions in the West are a re-
suit of the uncertainty which has prevailed
for the past three four weeks. Many manu-
facturers and heavy consumers OF steam Goals
nave doubtless stocked larger tonnage than
frequent predictions of a strike and long DELAYS
In the negotiations. When ii became assured
that there would be no strike. such BUYERS inn,
mediately discontinued making purchases until
stocks on hand were consumed Railroads have
not purchased in advance OF their require
about the only exception II is also reported
that steam users are not requiring as much
coal as they did year ago: that production is
mucn less generally speaking, than 1t was at
ket conditions which are almost unsurpassed
Outside Of the slump In prices and the gen.
orally demoralized market. the most important
feature concerns the prospects for prices begin
ming with the new year. Not all OF these prices
have been fixed definitely. but In a general way
they can be indicated Smokeess Goals have
opened on the basis of 81 10 at the mine for run
OF mine and 81. 30 for lump nut and egg Cashier.
Surran Buiitt the largest handlers of Poca-
hontas have named these prices for the month
OF April. and have put them into effect for the
remainder of March. This is reduction of 10
cents a ton at the mine from the opening prices
year ago. Opening prices on Farmont coal
have not been announced but will probably be
around 81 a ton at the mines for three-quarter.
No prices have yet been announced on Youghio-
gheny, three-quarter. gas COAL but IL is believed
that April figures will be from ST. Is TO 81 40 a
ton at the mines. with lump coal used for
domestic purposes 10 cents higher per ton
| there seems to be general impression that the
best West Virginia spint will open at s1-35 20
undecided at this writing but there is every
prospect that one of the largest producing com
panes I'm the country will reduce it's price on
lump coal April to 81. % or sl35 at the mines
1 This is reduction of from So to 70 cents from
the opening price ago. and will put the
coal into Chicago at about 81. 30 So on the T.
| o. b. basis. which ought to result in a large
tonnage sold in this territory during the com
ing year. Indiana and Illinois operators are
not In a position to name opening prices or ever
consider them and probably will not take any
! signed local agreements with their men,
| The opening prices on anthracite in West
ern territory have been confirmed and are or
panies have been taking orders or at Least
memoranda of orders with the understanding
that they were TO be confirmed April i and the
coal was 10 be shipped as early as possible aftel
| that date. Some private coal invaded the Chi
! cago market during the week and sold a
Sc T. o. b. Chicago. which is the opening pric,
| who handled this private coal reported a fai
run of orders at the prevailing figures