The Washington herald., 1921-10-04
DEMAND FOR COAL
MAY CAUSE SOME
PRICE REDUCTION
Some Districts on Lower
Rate in Order to Get
Business.

Aalc out shBntly above tndt
n August. when, except during the
arst week. 1t was, from 100000
20 7,75o.o00 tons. As an indicator
81 general business activity BIZ
luminous coal production Is un-
squalled. but. unfortunately for the
:oal producer. there is no positive
Indicator to show in advance how
iemand will be next week or next
month. A suffering in coal prices
s. of course, positive evidence of
better demand. but we may have an
increase in production and a drop
N prices. such as has happened In
ieveral market centers recently. A
small increase in the call for coal
revealed such a general desire to
share in the business that the
quantity of coal shippeA on consig gn-
nent broke even the low price.
Coal Age says:
There is nothing in the course
f either production or prices in re-
cent weeks such as would indicate
any change in the near future. The
interest of buyers in the possi-
sility Of an upturn in the coal mar
ret Is equally as great as that of
ihe producer. because a mistake on
he part Of the buyer in changing
his business from spot to contract
1t the proper time means as much
10 him as to the producer.
Fear Strike Next Spring.
On the whole. the above-ground
Iupply of steam coal is considered
Iufficient to absorb the shock of an
Increase in demand that the most
optimistic can foresee, save only that
attendant on the expected strike of
soal miners next spring, and that
s still some distance of.
Index of spot prices for Septem-
Der 20 is unchanged at 81. This is
me third consecutive week of firm
quotations which go to make up
his index. While some steam
prices have been depressed by the
heavier volume of resultant Goals
made because of the increased
domestic demand. the fact that in
iustry is general is absorbing this
steam tonnage with no great price
concessions is indicative of a better
outlook
As expected, the LahC Day holi-
lay cut into production during the
week ended September 10. The
total output of soft coal was T.
$4,000 net tons, as against 7.615.000
N the latest full-time week. The
production rate per working day,
however. increased during the
BhOrter week, and further improve
ncnt is shown in the reports for
The first two days of the following
week (September 12-1D, when
ioadings totaled 55,134 cars.
Buyers still Cautious.
Industries, while in an improved
position, are still cautious about
their fuel orders and are buying in
the spot market only. The mar
xet fails to reflect favorable in
suences. At the same time, es-
pecially in the Middle West, in
luiries for tonnage thirty days
hence are rapidly increasing. ac-
.ompanied by a request that the
buyers be protected on the quota
lion for two or three weeks.
At present steam Goals are in in
.reasing oversupply. The seasonal
demand for domestic has forced
much resultant coal on the bargain
counter and the wise purchasing
agent is availing himself of the
offer of choice Goals at attractive
The foreign market is absolutely
,tagnant Loadings at Hampton
Roads during the week ended
September 16 were the lowest in
eve years. Total dumpings for all
accounts during that period were
isO,211 gross tons, as compared
with 216.740 the week preceding.
Slightly higher quotations have
appeared in the New England mar
ket. There Is more interest being
shown by the smaller buyers. who
have been inactive for weeks. There
Is less tendency to quote at the
low level which prevailed a week
ago. Pocahontas and New River
have strengthened to IS. I. o. b.
Hampton Roads, while a few days
ago considerable tonnage could be
picked up at $3.50.