Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1917-01-10
COAL PRICES TAKE
ASUDDEN SLUMP
But Dealers in Omaha Say that
Drop May Not Affect
This City,
WEATHER WILL DECIDE

There is little prospect for re-
duction in the price OF coal in
Omaha" said Victor White, when
told of the big reduction which was
announced at Chicago in both hard
and soft coal. The shortage Of cars
is keeping up the price here. Many
mines are working but two days
week and in Kansas the railroads are
taking all the coal Steam coal here
has reached the ridiculous figure of
81 ATOM so | don't think there is any
chance for reduction Just yet. There
is no stock OF hard coal here, but on
the other hand there is little de-
mand, because most OF the hard coal
users laid in their supply in the fall"
Hard coal was selling in Chicago
Tuesday at from $l.oS to So ton less
than week ago, despite previous
predictions of rise in price, Btu
minous coal, quoted today at $3.50
ton, was selling at from 81 to $3.50
less than a week ago, Dealers as
serted that warm weather caused the
slump in prices.
Although it seemed that the Chi
cago coal shortage practically was
overcome officers OF the federal De-
partment OF Justice continued an in
vestigation begun some weeks ago
into conditions in the coal market.
Every effort will be made, they as
serted, to keep Chicago consumers
supplied with coal during the remain
der OF the winter.
May Break Here.
Some of the dealers in Omaha had
heard of the Chicago break this
morning and were having the matter
investigated i'll Chicago. They cx-
pressed the opinion that with the
continued warm weather the proba-
bility is there will be break in the
price of coal sooner or later, but did
n believe it would be felt in Omaha
for two or three weeks.
This they explained by the fact
that coal has been forced up and up
and that the local dealers in order to
accommodate the demand in Omaha
had been forced to buy on high mar
ket. Thus they feel it would be only
justice to continue asking the higher
price for a few weeks at least until
they are able to unload at least the
bulk of their present stock bought on
the higher market.
I'VE bought this coal for the accom-
mediation OF the public" said one, las
well as for little profit for ourselves.
And now 1t would be great hardship
on the dealers of Omaha if they
should have to reduce the price i'm
mediately on the stock of coal for
which they have paid the higher
price"
Slump is Expected.
Eyes, we have known that Coal has
been breaking little at the mines"
said Randall K. Brown of the Coal
Hill Coal company OF Omaha. 'lf
the warm weather keeps up the effect
will undoubtedly be felt here, sooner
or later. OF course. il will take
couple of weeks for this cheaper coal
to reach here. In the meantime the
dealers will have to sell out their
present stocks of coal first. The
whole situation is an industrial prop
osition. Steam coal was so scarce
that the consumers were bidding high
on the domestic market. This had
Its effect in forcing it up. Now that
the weather has been mild for so long,
the demand from industrial quarters
is not so great because it takes less
to heat the big buildings. If it gets
back to where there is steam coal
enough to take care Of the industrial
situation, the domestic coal will ma
turally come down"