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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Dec 25, 1920
Page
4
The coal trade review notes weak spot demand and contract cancellations mainly in volatile sectors while New River coal shows limited sales at about five dollars on the open market. Coke demand also declines leading to reduced coke production.
Shortage of transportation facilities on the Virginian and Chesapeake & Ohio limited coal movement. Management friction at Virginian caused system breakdown and several resignations, hindering mine output to about three days. Gulf region contracts remained uncancelled with high demand from buyers, while mine runs could fetch about five dollars per ton. production lagged orders.
Cessation of operations began for about forty mines in northeast Kentucky due to weak demand and market conditions. Larger companies with contracts stayed open. Many lay-offs affected small producers extracting one to five cars per day. Steam coal sales were scarce with prices near three dollars fifty cents per ton, while domestic sizes averaged five dollars per ton.
The New River region faced a severe transport halt last week as mine production collapsed from 30 000 tons on Monday to 14 000 tons on Tuesday and remained low throughout the week. Mines operated only two days in six, forcing 25 to 30 percent placement and delaying contract deliveries.
Demand and prices for steam coal fell sharply as West Virginia's high volatile fields faced a nationwide contraction. Mine run coal sold as low as $3.00 to $3.25 a ton, with slack at $2.50. domestic sizes reached $5.00 but below prior week quotes. Cancelled contracts, poor car supply, and power shortages worsened operations. many smaller tipple mines closed.
The Kanawha district faces a bearish coal era with a drop in spot and contract sales. Producers suspend buying as orders fade and transport falters. Output slips to 30 000 tons on Monday while weekly totals shrink and capacity remains under 50 percent.
Coal miners faced uneven rail access between the Pennsylvania system and Baltimore and Ohio lines. About 100 percent mine placement via Pennsylvania railroads contrasted with roughly 60 percent for B&O served mines, limiting operations. Spot market weakness reduced sales, as many buyers stayed out. Cancellations of contract orders reached many plants, cutting shipments, while labor allowed higher possible production, and all coal was moved with reasonable dispatch on originating roads.
Eleanor Hachet, held at Cherche Midi, marries at Montrouge town hall near Paris then escapes after the ceremony. Police seek her in connection with the flight from custody following the wedding.
After a poor period, northern West Virginia mines enjoyed a generally better car supply through most of the week. Demand was stronger in eastern markets for Fairmont coal, while western markets lagged. The average price held at 2.75 dollars per ton with some sales at 2.50, prompting talks of storage rather than shutdowns if prices slip further.
Notice to stockholders announces Bluefield National Bank annual meeting in the directors room on Tuesday January 11 1921 at 10 oclock for electing directors for the forthcoming year and other business. R B Parrish cashier.
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