30 APRIL 1932, Page 36

AMALGAMATED ANTHRACITE.

An instance of the difficulties of the coal industry was pro. sided by Mr. Szarvasy's able address at the annual meeting of the Amalgamated Anthracite Collieries in which he referred to the many adverse factors which the past year has brought forth to upset the best laid schemes for the expansion of the company's markets. Dumped anthracite from Russia, re- strictions, quotas, pricereductions in competing fuels and other hindrances to trade have had to be fought and overcome. Add to these the fact that the three weeks' strike, early last year, cost the company the large sum of £100,000, and it will be appreciated that to return net profits of £289,478 is a satis. factory result in the circumstances. In the export markets Canada was described by the chairman as the one bright spot, for that country has excluded Russian coals and has imposed a duty on foreign anthracites in pursuance of its desire to foster inter-Commonwealth trade. At home the company is holding its own. In his concluding remarks Mr. Szarvasy said that forward sales over the current year were fairly satis- factory and he anticipated that the collieries should be in a position to work not less regularly on the whole this year than during the last twelve months.