BIG COAL COMBINE.

Gisborne Times, Volume XXV, Issue 2190, 20 September 1907, Page 2

BIG COAL COMBINE.

C'TRXERING AUSTRALIAN COAL. NEW ZEALAND GREATLY AFFECTED. United Press Association—Copyright SYDNEY, Sept. 19. Tho coal “vend” formed some time ago is reported to be operating in connection with tho coal trade in New Zealand. In connection with the coal vend the steamer Ennerdale, after discharging her cargo of Now Zealand timber, went to Newcastle to load for Wellington, but owing, it is stated, to the action of the vend her coal charter was cancelled, and she was ordered to proceed to Port Stephens to load hardwood for New Zealand, it is understood that efforts are being mado to block any more tonnage appearing in the trade, and in future sailing vessels will only find employment in tho Newcastle to New Zealand coal trade under certain conditions.

TIMBER TRADE LIKELY TO BE AFFECTED. RISE OF 10s PER TON IN COAL EXPECTED. United Press Association—Copyright Received Sept. 20, 0.55 a.m. SYDNEY. Sept. 19. The coal vend was brought into existence for the purpose of controlling tho output of practically the whole of the leading collieries in the Newcastle and Maitland fields, as well as the market price of coal. - The leading company which stood out was the Newcastle Wallsend Co. A concurrent agreement was come to with four of the inter-Stato shipping companies that they only should be supplied with coal intended for consumption in certain States, but it was not indicated at the time that the Union S.S. Company was included, aLtliougli from a statement made to the press by a coal broker the effect of the vend will be to block out of the New Zealand trade in Newcastle coal all but new tonnage except that of the Union Company, or such vessels as that company chooses to recognise. Exceptions made are in favor of vessels trading between Newcastle and New Zealand before the formation of the vend. It is not permissible to replace any of the old tonnage, whether wrecked or worn out or otherwise retired except by permission of the Union Company. Outside tonnage, therefore, is only able to get cargoes from the mines outside the vend. The manager of one of the companies within the combine .said he had no personal knowledge of any refusal to supply cargo for the steamer Ennerdale, or of any intention to block new tonnage, but it was a fact that the comimitments of the various collieries at the present time were of so extensive a charaoter that they could not possibly undertake any new business. The growing demands of the inter-State and South American trade within recent times had kept the collieries working at their utmost limit of output, and they were compelled absolutely to decline extensive orders from outside. Similar statements were made bv others i in the Newcastle fields. . It is found impossible to supply coal on short uotice. . The price of coal is likely to advance from 10s to 11s before the end of the year. The ♦perations of the vend are likely to affect the New Zealand timber trade, as some vessels carrying timber will be unable to secure return freight.

SCOPE OF THE COMBINE. Press Association. AUCKLAND, Sept. 19. A Star reporter was informed that the coal vend referred to ill the cables comprises several large steamship companies, which either own mines or have helped to form a combination against new companies entering the field. The vend control prices and output. A number of Newcastle companies are outside the combine, which, however, is a very powerful one.