Isthmus Coal. — 30 PANAMA RAIL ROAD COMPANY. | tural weakness in- their (otepeake: that threatened serious consequences if longer neglected. The defect was understood to have developed in several other United States Navy Colliers of the class to which ‘‘ Achilles” and “Ulysses” belong. The approximate cost of that work was, For ‘ Achilles’’. . Oe $70,000.00, and For ‘“ Ulysses”’ oo 119,500.00, all of the above patlaye bo be chatued to cl operitions account, and recouped through the selling price of coal at the Isthmus. During the period of the War, the Pocahontas and New River coals required by the operations of the. Company, the Panama Canal, and the various departments of the Government, located in the Canal Zone, was secured through orders placed by the Fuel Administrator. When the Fuel Administration was discontinued, bids were invited but only one offer was received and that for a very limited quantity that was not accepted. Thereupon negotiations were held with representa- tives of several coal concerns, most. of which had already actively assisted the Company in procuring its current fuel necessities, with a joint purpose to Insure our securing future requirements at a rate per ton that would admittedly be reasonable to this Company and fair to the operators. An arrangement was reached, on the basis of $3.25 per net ton at the mines, subject to any subsequent increases or decreases In miners’ wage scale. The several operators individually undertook to furnish a given quantity of coal per month and volunteered to increase their quotas whenever possible The price agreed upon was materially lower than was obtainable from other domestic and export consumers. | Under that arrangement the following among others, were the most important deliveries made, out of a total of 442,000 tons, forwarded as against required shipments of 660,000 tons: Crozer Pocahontas Coal Company................ 86,844 Castner, Curran & Bullitt. 9 =.) 2 2, 61F Houston Coal Company. . A SIS Flat Top Fuel Company... Ce A G0 William C. Atwater & Company. i ee a8 a2 Pocahontas Fuel Company. . 008 White Oak Coal Company. . ie 30, 257 - Our supply at the Isthmus, li on Suly Ist, 1919, amounted to 170, 702 tons, was nevertheless reduced to 143,000 tons by June 30th, 1920, of which approximately 80,000 tons consisted. of cargoes delivered by. the Navy Department and held to their credit in our storage pile. The small balance of Company coal remaining on hand June 30th, 1920, resulted from: increased sales at the Isthmus; to our inability to secure coal in the desired quantities in the United States: and to the withdrawal during the entire months of July and August, 1919, of our colliers “Achilles” and ‘‘Ulysses”’ in order to convert them to oil burners; that interval appearing as the most practicable, because of congested conditions then existing in the coal trade that frequently caused our ships to lie idle awaiting cargoes in loading ports for long periods. The resulting limited quantities of coal received at the folic made it necessary, in order to conserve a stock on-hand there, to rigidly limit sales, especially of quantities supplied vessels transiting the Canal, which restriction, in a number of instances, occasioned changes 1 in steamer voyages.