Evening star., 1924-05-22
LARGER COAL OUTPUT
IS HELD Inevitable

NEW YORK, May 22.-CoaI Age.
today as follows:
The seeming anomaly of production
al level far below consumption and
with demand and prices practically at
rock bottom continues to prevail in
the soft coal markets of the country.
Nevertheless, the long-deferred but
inevitable upturn is slowly but surely
approaching. a number of brave
prophets in industrial affairs say that
the present showdown is only
breathing spell preparatory to
business revival in the autumn. Some
irrepressible optimists profess even
now to see the first faint CLEANS Of
sunlight through the dark clouds that
have enshrouded the trade for many
weeks There is no question, how
ever, that the trade is steadily set
tling toward a more stable basis, that
a firm foundation is being laid for a
reviva-reg egardleSs of the forebodinEs
of the incurable disciples of gloom
Meanwhile buying, such as it is, is
largely of a hand-to-mouth character,
longer big showing no alacrity about
entering into fuel contracts while
there is the remotest possibility of
prices going lower.
Empty Car Surplus Grows.
The surplus of empty cars con-
tinues to swell steadily to yawning
void that fairly seems to ache for the
initiation of the reported government
scheme to set d summer coal-buying
plan in motion. Shipments to tide
water, as we'll as inland. are at a low
ebb, and the demand for lake tonnage
thrown on market conditions by the
bids submitted May 16 to the United
States Shipping Board for supplying
and delivering alongside vessels in
New York harbor 1,430 gross tons of
bituminous coal running not less than
14,500 B. t u. Four bids were re-
ceived, the prices ranging from about
$1.92 to $2.19 per net ton fob. mine,
compared with s1.s2 to $2.77 in tho
bids submitted May 12 on $4,000 tons.
Coal Age index of spot prices Of
bituminous coal again failed to regis
ter any change during the last week,
standing at s1.69 on May 19. the cor
RESPONDING price being $2.05. This
compares with Sass at this time a
year ago.
Dumpings at Hampton Roads for all
accounts during the week ended May
Is amounted to 261, 1872 net tons, as
compared with 2s3;s49 tons dumped
dumped at Lake Erie ports during
the week ended May II, according to
the Ore and Coal Exchange, were as
follows: Cargo, 523,499 net tons;
fuel, 35,697 tons. The totals for the
previous week were 450.570 tons of
cargo coal and 32,726 tons Of fuel
coal.
Bitunfn0us Produefion.
For the first time since March the
production of bituminous coal passed
the 1000, ,000-ton mark during the
week ended May 10, when, according
to the geological survey, the output
was 7,121, 900 net tons This compares
with 6,832,000 tons produced during
the previous week. There also was 4
marked increase in the output of an
thracite, 1.9z4,0O0 net tons havinr
been produced, compared with 1S16,-
900 tons during the week ended
May 8.
Despite the upturn in anthracite
production, due largely to the settle
ment of local labor disturbances, the
hard coal market shows no dimifiu-
ton in strength Demand for the
most-wanted sizes, particularly stove,
is still greater than the supply, but
the most pressing demands are being
taken care OF when tho consumer IL
willing to take some Of the less
wanted siSes along with the popular
- 49, -r--