Though the cold snap which stim ulated the coal m ar
ket pretty generally two weeks ago w as short-lived in some localities a considerable degree of firmness still is in evidence right down the line. A noticeable slowing-up took place in the Middle W est, where unseasonably warm weather followed close on the heels of the mer
cury’s fall, but prices hold fairly well. Plenty of b usi
ness in lump at circular prices is reported by producers in the more favored d istricts of Illinois, Indiana and w estern Kentucky, though the demand for egg and nut sizes is extrem ely unsteady. B usiness in high-volatile coals from W est V irgin ia and eastern Kentucky has been very irregular w ith a wide range in prices.
W est V irgin ia smokeless, which had been floundering somewhat since the close of lake navigation, has been steadied to a considerable extent by demand in the E ast, which is reflected by a stronger price line-up. Another important influence as a market stabilizer is the policy o f Kentucky operators in holding a large amount of coal on track at m ines rather than let it get into the distress classification. The foolish virgin s are not all dead yet, though, for coal is still going into Chicago on consign
ment, and shippers are paying dearly fo r the practice.
Dullness persists in the New England market, prac
tically all grades being in only fa ir demand. Except for a b rief flurry early last week, the trade in the Middle A tlantic district has been fairly steady w ith no change in prices. B usiness has been in good volume since the holidays in the N orthw est, and the dock operators are optim istic regarding prospects fo r the next few months.
Demand in Alabama is steady and bookings are fully equal to m oving output w ithout difficulty.
That portion of the trade catering to the usual con
sumers of anthracite have been som ewhat “edgy as
peace n egotiation s dragged along. B uyers have dis
played a disposition to be cautious, but cold w eather and snow have quickened the demand for su b stitu tes at least tem porarily. The call for coke has been moder
ately heavy and prices have hardened.
S oft-C o al O u tp u t in 1 9 2 5 Is 5 2 3 , 0 7 2 ,0 0 0 T o n s Output o f bitum inous coal during the week ended Jan. 2 is estim ated by the Bureau of M ines at 10,796,000 net tons, an increase of 2,365,000 tons over the revised figure for the previous week but 10,000 tons less than in the corresponding week a year ago. Total production of soft coal during the calendar year 1925 is estim ated at 523,072,000 net tons, compared w ith 483,687,000 tons in 1924 and 564,565,000 tons in 1923. Anthracite output during the week ended Jan. 2 w as about 28.000 net tons, as a ga in st 32,000 tons in the preceding week. Total hard-coal production fo r the calendar year ju st closed is estim ated at 62,120,000 n et tons, a decline of 25,807,000 tons from th e previous year and of 31.219.000 tons from 1923— the fa llin g off being due, of course, to the strike. Output in the first eigh t months of last year— or until operation w as suspended
— w as 61,621,000 tons, compared w ith 59,247,000 tons in the corresponding period of 1924 and 66,849,000 tons in the sam e m onths of 1923.
Coal A g e Index o f spot prices o f bitum inous coal stood on Jan. 11 at 180, the corresponding price being
$2.18, compared w ith 181 and $2.19, respectively, on Jan. 4.
Dum pings o f coal a t Hampton Roads underw ent a further decline during the week ended Jan. 7, the total being 339,761 n et tons, compared w ith 355,126 tons in the preceding week.
4 II 18 25 £ 9 16 £330 6 13 20274 II 1825 1 8 152229 5 IE 1926 3 10 172431 7 1421 £8 5 1219262 9 1623306 13 20 27 6 13 20 27 A p r M a y June J u ly A u g . Sep t. O c t Nov. D ec. J a n . Feb. M arch
1925 1926
E stim ates of Production
(N e t Tons) b i t u m i n o u s
1924-1925 1925-1926
Dec. 19... 10,814,000 12,689,000 Dec. 26 ( a ) ... 7,540,000 8,431,000
2 10,806,000 10,796,000
D aily a v e ra g e 2,039,000 2,037,000
C al; y r ... 483,687,000 (6)523,072,000 D aily a v ... 1,573,000 1,702,000
A N T H R A C IT E
Dec. 19... 1,867,000 55,000 Dec. 26... 1,029,000 32,000 J a "- } ... 1,255,000 28,000 Cal. y r ... 87,926,000 (6)62,120,000
B E E H IV E C O K E
D ec. 1 9 ( a ) ... 218,000 313 000 D ec. 2 6 ( 6 ) ... 189,000 261000 Cal. y r ... (c)9,464,000 10,518^000 (a) Revised since la s t rep o rt. (b) S u b ject to revision, (c) A d ju ste d to equalize n u m ber of d av s
in th e tw o years. y
Ja n u a r y 14, 1926 C O A L A G E 59
€0 C O A L A G E Vol. 29, NO. 2
ro — — „ „ - - C U f t J C U N W i y m <o CO (Jl o — Cu Kl ^
o) tu oi o>oioio50)o>oio)(^(n Jan. Feb. Mar. Apft May June 1926
C o a l A g e I n d e x o f S p o t P r i c e s o f B i t u m i n o u s C o a l F .O .I i. M in e s , 19 2 6 ---* ,---1 9 2 5 --- \ J a n . 11 J a n . 4 D e c . 28 J a n . 12 I n d e x ... 180 181 178 1 7 5 : W e i g h t e d a v e r a g e p r i c e ... $2.18 $ 2.19 $ 2.16 $2.12 T h is d i a g r a m s h o w s t h e r e l a t i v e , n o t t h e a c t u a l , p r i c e s o n f o u r t e e n c o a ls , r e p r e s e n t a t i v e o f n e a r l y 90 p e r c e n t o f t h e b i t u m i n o u s o u t p u t o f t h e U n i t e d S t a t e s , w e ig h te d f i r s t w i t h r e s p e c t t o t h e p r o p o r t i o n s e a c h o f s la c k , p r e p a r e d a n d r u n - o f - m i n e n o r m a l ly s h ip p e d , a n d s e c o n d , w i t h r e s p e c t t o th e t o n n a g e o f e a c h n o r m a l ly p r o d u c e d . T h e a v e r a g e t h u s o b t a i n e d w a s c o m p a r e d w i t h t h e a v e r a g e f o r t h e tw e lv e m o n t h s e n d e d J u n e , 1 9 1 4 , a s 1 00, a f t e r t h e m a n n e r a d o p t e d in t h e r e p o r t o n " P r i c e s o f C o a l a n d C o k e ; 1 9 1 3 -1 9 1 8 ,” p u b l i s h e d b y t h e G e o lo g ic a l S u r v e y a n d t h e W a r I n d u s t r i e s B o a rd ._______________________________________________________
In th e S ta n d ard field th e re is no change. P rices are about cost of production and, w ith a few exceptions, all m ines have various sizes of “no bills” constantly. R ailroad tonnage w as re p o rted good la s t week. C ar supply is p len tifu l and w orking tim e ra n g e s from th re e to five days a week.
Dom estic tra d e in St. Louis re p o rts m ovem ent of middle an d Illinois high g rad e egg and a little s p u rt fo r sm okeless.
A n th racite is p re tty well cleaned up on th e sm aller sizes and th e re is no demand. Coke showed an increased dem and la s t week. T here is some call f o r S tan d ard from a p artm en ts and cheaper business houses, b u t n o t in the volume usual a t th is period of th e y ear. C ountry dom estic dem and is fa irly good fo r cheaper coals and unusually good fo r w est K en
tucky dom estic sizes. C ountry steam is quiet. T here has been no change in prices.
D e m a n d S lu m p s in K en tu ck y
The slum p over inventory period, along w ith mild w e ath er la s t week flattened dem and fo r both steam and dom estic coal in K entucky. P rices a re holding firm, how ever, as op er
a to rs a re holding much coal on track s a t mines, in stead of le ttin g i t g e t into th e d istress fuel classification. T here hasn t been m uch trouble about c ar supply fo r some tim e, and the o p erato rs don’t m ind holding coal on tra c k , as' th e y did when cars w ere scarce and held cars w ere counted a g a in s t th e ir loading.
Steam coal dem and is expected to pick up as in d u stry g e ts back into the ru nning. Cold w e ath er would b rin g back th e re ta ile rs , as m any of them hav en ’t much coal on hand.
The e a ste rn K entucky m a rk e t on 4-in. block coal is
$2.75@$3.25, in spite of absurd rum ors o f $2 block. T here m ay be some off-grade and off-size stuff a t $2.50, b u t 2-in.
lum p and egg a re the only item s offered as low as $2 The o p e ra to r would r a th e r keep his coal, especially in view of the fa c t th a t screenings are off. W ith a dollar and a h alf
slack m a rk e t th e o p e ra to r m ig h t sell some cheap p re p a ie d , b u t n o t on a 90c.@$1.10 slack m a rk e t. . .
The slum p in in d u stria l dem and h it e a ste rn
screen in g s, w hich dropped below $1 fo r th e firs t tim e in w eeks, b ein g quoted a t 90c.@$1.10 f o r all g rad es. W estern K entucky screen in g s a re firm er due to low er production ol p re p a re d , a t 90c.@$1. O th er w estern and e a ste rn K entucky prices a re unchanged.
Y e a r S ta rts "with P r o m is e in N o r th w e st
T rad e h as been ru n n in g in good volum e in th e D uluth- S u p erio r m a rk e t since th e tu r n of th e y ear, an d dock op er
a to rs a re hopeful re g a rd in g th e outlook f o r th e firs t half of th e y e a r a t least. W h a t is re g a rd e d as esp ecially s a tis fa c to ry is th e placin g of o rd ers by in d u s tria l com panies over n o rth e rn W isconsin an d M innesota, w ith foundries and o th e r iron and steel e n te rp rise s b u lk in g up w ell in th a t connection. A rev iv al of in te re s t also is re p o rte d from over th e n o rth e rn M innesota iro n -ra n g e te r r ito r y .
W hile r e ta ile rs a re still o rd e rin g coal on a n im m ediate re q u ire m e n t basis it h as been b u lk in g up into good p ropor
tions. U tilitie s com panies and m u n icip alities over M inne
so ta and e a s te rn N o rth D ak o ta have been o rd e rin g good to n n ag es on c o n tra c ts m ade la s t fa ll. S h o rta g e of w ater supplies in sto ra g e dam s is fo rc in g som e of th o se consum ers to re s o rt to o p e ra tin g steam pow er p la n ts in th e em ergency.
P ocahontas and o th e r sm okeless coals a re in heavy de
m and as s u b stitu te s f o r a n th ra c ite . Only tw o docks are c a rry in g any a n th ra c ite stocks and th e y a re ta k in g only sm all o rd ers fro m re g u la r cu sto m ers of th e ir re ta il yards.
Shipm ents of coal fro m th e docks d u rin g December to taled 25,735 c a rs, com pared w ith 27,411 c a rs during N ovem ber and 29,615 ca rs d u rin g D ecem ber, 1924. The a g g re g a te cars loaded d u rin g the y e a r w as 239,548, com
p ared w ith 242,604 d u rin g 1924 an d 199,503 c a rs in 1923.
P rices a re ste a d y and unchanged fo r bo th a n th ra c ite and bitum inous coals. D om estic coke is selling fre e ly a t $8.50 and b riq u ets a t $9.
M ilwaukee dock m a n a g e rs have n o th in g new to rep o rt as to th e coal situ atio n , w hich continues as i t h as been for w eeks. T here is an am ple supply of bitu m in o u s coal, for which th e re is a fa irly good dem and, w hich fluctuates sh arp ly w ith th e w eath er. The only change in prices re ported by re ta ile rs is an advance of $1 f o r n u t coke, which now sells fo r $15 a ton.
B o r e a s C o m es to R e sc u e o f th e W est
W in ter w e a th er a g ain has come to th e re lie f of K ansas o p erato rs. W hile tra c k s a re n o t cleared of “no bills,” the surplus in the field has been m uch reduced, an d th e m arket, which had begun to soften, h a s stiffened. S hading w as p a r
ticu larly evident in K a n sa s lum p, on w hich the lis t price has been $5. A t p re se n t th e re is a slig h t su rp lu s of lum p, but th e re is a sh o rtag e o f n u t, an d screen in g s a re even.
A rk an sas is still looking f o r business, w ith th e ex pectation t h a t th e norm al m id w in ter reco v ery fro m th e N ovem ber slum p cannot be f a r off. S e m i-an th rac ite lum p is quoted a t
$6@$6.50, w ith m an y accep tin g less. S creen in g s are scarce a t $2.
T here has been no m a te ria l ch an g e in th e dom estic trade fo r Colorado and N ew Mexico coals in th e p a s t w eek, but o p erato rs look f o r a su b s ta n tia l in crease in th e n e x t m onth to six w eeks, as th e stocks in bins a re a b o u t d epleted and inquiries and o rd e rs a re b eg in n in g to com e in in larg e num bers. Colorado m ines a r e w o rk in g ab o u t 90 p e r cent.
U tah m ines a re w o rk in g a b o u t th re e d a y s a w eek, and some o p e ra to rs describe business a t “r o tte n ! ” R etail trad e is good, due to a lig h t fa ll of snow. L um p coal is som e
w h a t of a d ru g on th e m a rk e t, b u t slack is a little scarce, if a n y th in g . The m e ta l in d u s try is ta k in g a la rg e p ro p o r
tion of th e coal used fo r in d u s tria l purp o ses.
U ta h o p e ra to rs have m ore o rd ers th a n u su a l fro m the Pacific C oast and N o rth w e st, dem and b ein g la rg e ly for stove size. B usiness is only f a i r in Id ah o an d N evada.
A few d ealers have been tr y in g to p ersu a d e th e tra d e to increase th e price of slack fro m $3.50 to $4, b u t th e effort is n o t likely to succeed. T he schedule p rice a t th e mine is
$1.25, b u t f o r the p a s t tw o o r th re e m o n th s i t h as been 75c. Gossip h as i t th a t som e of th e sm a lle r o p e ra to rs cut th e p rice to unload su rp lu s sto ck s o f slack b u t w ould now like to ra is e them . The b ig o p e ra to rs a re n o t inclined to m ake a change, how ever, fe e lin g th a t i t m a y prove a good lesson to th o se w ho reduced them .
P ric e s fo r coal o th e r th a n slack re m a in firm .
January 14. 1926 C O A L A G E 61
W in tr y S p e ll S tim u la te s C in cin n a ti M arket A t C incinnati th e feelin g -o u t process, so common a t th is tim e o f y e a r and accentuated by th e d elib eratio n s of the a n th ra c ite n e g o tia to rs, w e n t along m e rrily la s t w eek until F rid a y , w hen heavy snow fa lls and colder w e a th e r p u t fre sh life in th e m a rk et. W hile ord ers flowed in good volume few noticeable changes w ere m ade in values.
H igh volatile has been on a “b ro k e rs’ m a rk e t” since C hristm as, as show n by th e sp read s in some of th e m akes.
M ine-run has been v ariously priced from $1.40 to $1.85.
B oth steam and g as w ere obtainable a t the low, these coals com ing from m ines th a t have h ad to look to th e m iddlem an fo r a sales ou tlet. On the o th e r hand, byproduct and gas ta k e rs w ith an assu re d source of supply paid up to $1.85 fo r choice coals. D om estic has m oved up to $2.75@$3.50, the top being fo r specialized and ad v ertised product. E g g prices ran g ed $1.60@$2.25 and slack from 90c. fo r off-grade K entuckys to $1.25 fo r th e choice.
B e tte r dem and in th e E a s t has helped th e sm okeless m ark et, w hich had been floundering since th e close of n av i
gation. E g g and stove sizings going to tide were around
$4.50 w ith the inland fro m $4@$4.25; lum p also picked up a little, w ith m ore selling around $4 th a n a t the low of
$3.75. M ine-run showed w eakness in the fa c t th a t the spread betw een $2.25@$2.50 w as s o fte r th a n th e m ere figures indicate, and slack too w as off 10c. w ith a spread betw een $1.75@$2, and it had to be sta n d a rd stuff to bring this price.
R etail business is in p ra c tic ally th e sam e position as it w as la s t week. B uying has been a b it b e tte r, b u t th is is a w eath er re su lt. A f te r a few days of open w e ath e r in which the riv e r people w ere able to b reak th ro u g h th e ice the snow came along and has held them up again.
The re p o rt o f the C incinnati d istric t of the A m erican Railw ay A ssociation places to ta l coal loads interchanged la st week a t 9,161. This is a decrease of 2,883 com pared to th e previous w eek, and an increase of 320 com pared to same week la s t y ear. I t is expected th a t th ere will be an increase this week, as th e dem and fo r em pties a t th e m ines shows signs of im provem ent. A ll coal-loading roads have heavy surpluses on th e ir lines.
W arm er w e a th e r follow ing th e blizzard caused a slig h t recession in dom estic dem and in Columbus and vicinity.
This w as n o t as m arked as m ig h t be expected, as d ealers’
stocks w ere n o t heavy and occasional buying to replenish stocks is re p o rte d . S m aller ord ers a re expected fro m house
holders d u rin g th e re m a in d e r of th e w in te r anl dealers will be in th e m a rk e t n o t only fo r sm okeless and sp lin ts b u t also fo r Ohio m ined v arieties. R etail prices a re well m ain tain ed a t previous levels. T here is little d istress coal on th e C olum bus m a rk e t an d b a rg a in prices a re few.
S team business has shown little change outside of w eak ness in screenings, the declines having am ounted to 15 to 25c. p e r to n in th e p a s t tw o w eeks. One of the causes given is th e closing of th e lake trad e. Steam p lan ts are buying fo r c u rre n t needs only a s th e ir fuel stocks are heavy.
U tilities are ta k in g th e ir u su al quota and iro n and steel p la n ts a re good buyers. Some im provem ent in g en eral in d u stria l conditions is noted, and this, it is believed, will be reflected in th e steam fuel business.
In e a s te rn Ohio th e m a rk e t is in a som ew hat chaotic sta te as dem and h as been a t a low ebb fo r th is tim e of th e year. A b o u t a w eek or so ago re ta ile rs had quite a ru sh of orders, and w ere f a irly busy, only to experience a w arm spell and a d ro p p in g off in tra d e . D uring th e holidays, however, m a n y of th e schools w ere p u ttin g in coal.
In the ste a m tra d e , orders a re fo r c u rre n t needs only,
which a re not heavy. The railroads are said to be tak in g fu ll quotas on contracts.
D uring week ended Jan . 2 the e a stern Ohio No. 8 field produced 217,000 tons, or about 37 p er cent of potential capacity. This is 30,000 tons over the preceding week, b u t 38,000 tons under the corresponding week a y ear ago.
Revised figures fo r the calendar y e a r 1925 show a produc
tion of 13,237,000 tons, or around 37 per cent of capacity.
P ittsb u rg h T rad e S tation ary
The P ittsb u rg h d istric t coal m ark et presents no new fe a tu re s this week. Buying of domestic coal continues fa irly good, b u t this does not rep resen t a larg e p a rt of the d is tric t’s business.
Consum ption by the industries has been ru nning heavy and bids f a ir to continue so. There is practically no dem and of any consequence from the E a st fo r P ittsb u rg h d istric t coal. There is such a demand fo r n u t and egg th a t the d istric t is able to sell some in the E a s t a t $2 to $3, b u t its production of such sizes is small.
Com petition continues very keen, both betw een producers in the d istric t and betw een the d istric t and non-union fields, and while prices are low th ey show no disposition to harden.
A t Buffalo th e dem and in th e re g u la r soft-coal tra d e is more a m a tte r of accepting w h a t is urged on th e con
sum er th a n a n y th in g m ore active on his p a rt. T here is often com plaint th a t coal is b o ught th a t is not really w anted, b u t ju s t to accom m odate a frien d who m u st m ake a showing of business or lose standing a t h ead q u arters.
Slack, and especially gas slack, has n o t been as p lentiful as sizes, b u t prices a re about as usual.
N ew E n g la n d M arket D rags
So fa r, in New E ngland th e re has been no reaction from th e dullness usual during th e holidays. The tra d e d rag s m uch as it did a week ago, w ith screened sizes ab o u t the only relieving fe a tu re . F o r run-of-m ine in p ractically all directions th ere is only f a ir dem and; th e re is no new buying of any m om ent, and the ran g e of prices continues as low as during December. C o n tract shipm ents are com ing th ro u g h in usual volume, th e seasonable w e a th e r having influenced rehandling fa cto rs and others to keep reserv es on a pru d en t basis. W ith th e a n th ra c ite strik e n o t y e t settled, all th e re ta ile rs are sh arin g in th e dem and from a proportion of th e consum ers fo r run-of-m ine fo r house
hold heating. To the spot m a rk e t generally, how ever, th e re is no snap, and th e agencies are easing along in th e hope th a t somehow m ore rem u n erativ e prices can be obtained.
No. 1 N avy stan d ard Pocahontas and N ew R iver can be had in cargo lots a t $4.75 f.o.b. vessel a t H am pton R oads, and in special circum stances a t an even low er figure. A few shippers m ore fo rtu n a te ly placed w ith resp ect to the volume of coal a t and en ro u te to the piers a re able to g e t $4.90 @$5.
No. 1 N avy stan d ard Pocahontas and N ew R iver can be had in cargo lots a t $4.75 f.o.b. vessel a t H am pton R oads, and in special circum stances a t an even low er figure. A few shippers m ore fo rtu n a te ly placed w ith resp ect to the volume of coal a t and en ro u te to the piers a re able to g e t $4.90 @$5.