A COAL TRUST.

Timaru Herald, Volume XIC, Issue 13396, 20 September 1907, Page 5

A COAL TRUST.

BOYCOTTING- NEW ZEALAND.

Press Aasociation-By Telegraph-Copyright SYDNEY, September' 19.

The Coal Vend founed soma time ago is reported to be operating in connection with the coal trade with New Zealand. The steamer Ennerdale, after discharging her cargo of New Zealand timber, went to Newcastle to load fcr Wellington, but owing, it ia stated, to the action : of t-b? Coal Vend, the 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 brfng made to block, any new tonnage appearing in the trade, and in future sailing vessels only will find employment in the domestic and New Zealand c-oal trade under certain conditions. DETAILS OF THE COMBINE. PRICE OF COAL TO BE RAISED. Received 0.55 a.m., September 20th. • SYDNEY, September 19. The Coal Vend was brought into existence for the purpose of controlling the output of practically tho whole of the leading collieries fin the Newcastle and Maitland fields, as well as the market p-iice cf coal. The. leading company which stood out wa-s the Newcastle-Wall send Company. Concurrent with the Vend', an agreementwas come to with four of the inter-State shipping companies that/they only should be Supplied with coal /intended for consumption in certain States, but it was not indicated at the time tliaE-CKe Union Company was included. " Although from a

statement mads to the Frese by a coal broker the effect of the Vend "will l>e to block out of the New Zealand trade iii Newcastle coal all but new tonnage except that of the Union Company or such vessels as that company chooses to recogT nise, exceptions are made in favour of vess.-ls that, were trading between ivew Zealand and Newcastle before th-a formation of the Vend. It is not permissible to replace any of the o'.'d tonnage whs. tier wrecked) or worn out or otherwise' retire!, except by permission of the Union C'uir:pany. Outside, tonnage, therefore, will only be able to get cargoes from mine? outside the Vend.

The manager of one of the companies within the combine saicl that he had 110 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 commitments of the various collieries at the present time were of so extensive a character that they could not possibly undertake any new business. .The growing demands of inter-state and the South American trade within recent times had loept collieries working to the utmostlimit of output, and compelled them to absolutely decline .extensive orders from outside.

Similar statements were made by others interested in the Newcastle fields. It was found impossible to supply coal on short notice. The price of coal is. likely to- advance from 10s; to lis before the e.ftd of the year. The operations of the Vend_ are iik-elv to affect, the New Zealand timber trade- as some vessels carrying timber will be unable to secure return trade.