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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Dec 25, 1920
Page
6
The report notes little spot demand and widespread contract cancellations in coal and coke. It states New River coal would fetch about 5 dollars on the open market, with few sales at that price as coke demand drops and coke making is curtailed.
A Virginian Railway transportation crisis reduced last week output to under half capacity due to management friction and resignations among transportation officials. Chesapeake & Ohio also underproduced with limited cars, while Gulf region demand stayed low. Mine run coal could fetch 56.00 to 5.15 per ton, yet production lagged contract orders.
Cessation of operations began last week as market conditions forced about forty small northeast Kentucky mines to suspend activity. Large companies held contracts and remained open. Most lay-offs affected mines producing one to five cars daily. Steam coal demand waned with no domestic appetite, prices around 3.50 dollars per ton, domestic sizes near 5.00 dollars per ton.
A severe car shortage hit the New River region last week reducing mine activity to two days in six. Production dropped from 30 000 tons on Monday to 14 000 on Tuesday and fell further through the week, forcing mines to endure 25 to 30 percent lower output and jeopardizing contract deliveries.
Coal producers face collapsing demand and prices in West Virginia as contracts are canceled on a wholesale scale. Mine run coal sells around 3 to 3.25 dollars per ton, slack at about 2.50, domestic demand for higher grades briefly supports prices near 5 dollars, while many small mines shut down due to unprofitable operations amid a crippled car supply and scarce power.
The Kanawha district faces a bearish period with weak spot and contract sales. Producers report suspended anima tion and no assurance on booked orders due to scarce transport and poor car supply. Output faltered with 30,000 tons on Monday and half as much thereafter, with coal mined well below 60 percent of normal capacity.
Coal producers faced uneven rail access with Pennsylvanian lines offering near full mine placement while Baltimore and Ohio served far fewer mines. Spot market weak with prices under 3.00 a ton. Large numbers of contract cancellations reduced shipments despite ample labor for higher output and prompt dispatch on originating rails.
Eleanor Hachet, held in Cherche Midi jail, was married at Montrouge town hall near Paris and escaped after the ceremony. The incident follows a dramatic wedding escape timing with police seeking the fugitive.
After chronic shortages, northern West Virginia mines reported an unusually good car supply the week of December 11. Demand stayed stronger in eastern markets, with Fairmont and nearby regions faring better than the west. Average price hovered around 2.75 dollars per ton, with some sales at 2.50. Operators weighed continuing production to stockpile despite weak spot demand.
Stockholders of Bluefield National Bank are notified of the annual meeting in the directors room on Tuesday January 11 1921 at 10 oclock. The agenda includes electing directors for the ensuing year and any other business. R B Parrish cashier.
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