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40 THE COAL TRADE BULLETIN.
fairly continuously, and the fact that overproduction
is not greatly feared is shown by the ex­
pected opening of the u,ackawanna's Truesdale
breaker at Nanticoke. Some mines close down at
intervals, as best suits their convenience. It is
expected that tidewater business will soon be
stimulated by the apprehension of a car shortage.
the indications of which are already apparent.
Small sizes of buckwheat are in demand in some
quarters, while in others a large stock is reported.
The western and lake anthracite trade hovers
about the normal point.
Hull, Blyth & Co.. of London and Cardiff, an­
nounce that the market shows a decided firmer
tone for prompt delivery, with quotations as follows:
Best Welsh steam coal, $3.36; seconds,
$3.IS; thirds. $3.06; dry coals. $3.00; best Monmouthshire,
$3.12; seconds, $3.00; best small
steam coal, $2.46; seconds, $2.2S; other sorts, $1.98.
VANDALIA MERGER COMPLETED.
The final steps in the deal whereby twenty Indiana
coal companies were merged in the Vandalia
Coal Co., with headquarters at Indianapolis, were
taken on August 19. They consisted in exchanging
the titles to the thirty mines represented for
checks, representing an aggregate of $4,000,000.
The deal had been pending for about five months.
Among the companies that have disposed of their
holdings to the new company are the Johnson Coal
Mining Co., South Linton Coal Co., Indiana &
Chicago Coal Co., Linton Coal & Mining Co., Island
Valley Coal Co., White Rose Coal Co., Enterprise
Coal Co., Sugar Creek Coal Co., Home Coal
Co., Green Field Coal Co., Minshall Vein Coal Co..
Raccoon Valley Coal Co., Zeller & McClelland Coal
Co., Seeleyville Coal Co., Asherville Mining Co.,
Cloverland Coal Co.^ Indiana Bituminous Coal Co.,
a part of the interests of J. Smith Talley, of Terre
Haute, and all of the Indiana interests of the
Granite Improvement Co., of Pennsylvania. The
officers of the Vandalia Coal Co. are as follows:
President, A. M. Ogle; vice-president, John Mc­
Fadyen; treasurer and chairman of the finance
committee, Frank L. Powell; secretary, Charles E.
Barrett. W. W. Hubbard, who has been vicepresident
of the Island Coal Co.. will be general
sales agent for the new company. It is probable
that a sub-office will be established in Chicago
to attend to the trade in the west and northwest.
Operating offices will be established at Linton and
Terre Haute. It is anticipated that the annual
business of the company will be about 3,000,000
tons, though it has a capacity of 5,000,000 tons or
more. It is the present intention to close several
of the mines where the less desirable coal is obtained,
for the present, and work the other mines
more thoroughly.
(CONTINUED FROM PAGE 28).
Bituminous Interests To Hold Conference In
Chicago In November.
the necessity, of forming a federation of the coal
mine operators of the entire bituminous fields of
the country. This suggestion, we would impress
upon you, does not of necessity carry with it the
idea that any change is to be made in the present
joint system of making contracts but simply to
enforce them after they have been made. Thus
the central field, the southwestern fields, and all
the remainder of the bituminous fields would continue
to meet annually as heretofore, unless the
parties in interest see fit to change it.
"What the committee was particularly urged to
bring to your attention, is, that a national feder­
ation of bituminous coal mine operators be formed
for defensive purposes only.
"There was but one opinion expressed at our
meeting, and that was that the time had arrived
when the coal mine operators should not only be
in a position to assert and maintain their just
rights, but also establish a court of last resort
capable of passing upon any questions in dispute
that arise between the coal mine operators and
the men impossible of settlement otherwise.
"We sincerely hope that you will give this communication
your careful consideration and will,
at your earliest convenience, act upon the recommendations
made, confident that when the coal
mine operators of the United States are once thus
united in a federation they can and they will pro­
tect their respective properties, without injury to
the just rights of any one else."
Announcement was made by Mr. Justi and others
that a very general response, favorable in its tone,
had been received to these letters and after some
discussion it was decided to issue the call for the
November meeting in Chicago. A basis of four
delegates for each district represented was decided
upon, in addition to which another delegate
will be allowed for each 1,000,000 tons of coal produced.
THE NATIONAL WEALTH.
Compared with the principal countries of the
world the United States ranks high in national
wealth. Here are the relative positions:
United States $110,000,000,000
United Kingdom 55,000,000,000
France 50,000,000,000
Germany 48,000,000,000
Russia 35,000,000.000
Austria-Hungary 30,000,000,000
Italy 18,000,000,000
Spain , 12,000,000,000