57

H.—44a

When we compare the selling-prices of all coals for which exact, details were available in each year, whether from collieries working over the whole period or not, the increase in selling-frice is 22 per cent. This figure, however, as in the case of cost of production, does not give a true measure! of the change of the price of all coal, since the .selling-prices and cost of the mines for which exact particulars were not available for 1913 were on the average lower than those of the mines providing data for that year. This figure was lower during 1914—15—16 than in 1913. In 1916-17 it rose 11 per cent, above the 1913 level, and in 1917-18 22 per cent. The selling-price of bituminous coal increased 35 per cent. (3s. 2d.) during the period, though the cost rose 40 per cent. ; that of semi-bituminous coal rose 34 per cent. (ss. 7d.), or slightly more than its cost; that of brown coal 22 per cent. (2s. 7d.) , as against a rise of 25 per cent. in cost. The increase in the price of brown coal for 1917-18 when compared with 1913-14 (a better basis of comparison in view of the incomplete data for brown-coal mines for 1913) is 30 per cent. (3s. Id.), the corresponding increase in cost of production being 31 per cent. The difference between the mine selling-price and the cost of production in each case for each year is set out in Table 73, which also expresses the difference as a percentage of the cost of production.

Table 73. —Mine-profit per Ton, also expressed as Percentage of Total Cost per Ton.

The lowest and highest margins between cost and price were : — Tahle 74. Lowest. Highest. s. d. s. d. 1913 .. .. . . .. .. ..-14-5 2 5-625 1918 .. .. .. .. •. .. —2 2-87 4 2-93 Seven mines get a larger margin in 1918 than in the earliest year quoted by a total of 15s. 5'11d., or an average of 2. 2-4 d., whilst six mines get a lower margin by 4s. 028 d., or an average of 8-05 d. The highest and lowest margins are shown by a different mine each year. The two largest increases in the margin of profit are those of the State mines, though the returns of one of them, the Liverpool mine, are compared over the last four years only. Generally speaking, the decreases in the mine-profit per ton are more significant and typical of the whole output of the period than the increases. The average annual profit per ton shows a range from Is. 10d. gain to Is. lid. loss. If the properly weighted average selling-price be compared with the corresponding average cost of production for the mines giving returns for the years 1913-18 the margins between cost and price are 9d. and 10d. a ton for 1913 and 1918 respectively, or 5-6 and 4-5 per cent, of the cost of production. A comparison of the m similar margins for all mines giving data, whether over the whole period or not, shows a reduction from 9d. to sd. a ton, the latter representing 2-2 per cent, of the average cost. The next table compares the percentage increases in the selling-prices with those in the total cost of production at the separate mines. These generally moved together except where the price lagged behind

B—H. 44a.

Mlno. | 1913. 1914. 1915. 1916. 1917. 1918. Increase or Decrease between Earliest and Latest Years. Annual Average Profit per Ton. 8. d. A . . .. 1 4-86 9 B .. ..0 10-25 6f C .. . . -0 2-5t — lit s. d. 1 1-94 54 1 3-88 114 1 0 8f s. d. 1 3-38 8 1 0-87 94 1 0 84 s. d. 0 9-58 4§ 1 7-74 13 0 10-4 64 -2 8t -15-|--1 7-92t -13t 1 3'86 114 0 2-96 o 3 24 -0 7f 8. d. I 5-8 7f 1 4-07 94 -0 7t -3ft -1 ot -sit 0 1-97 14 2 11-63 26 0 7-14 ! 3 I -5 9-25t -29t 0 6 54 s. d. 0 8-55 34 0 9-64 2 0-4 124 -0 5-5t -2Jt 0 9-81 4 4 2-93 38 1 4-39 1 1-75 8 1 1-3 104 2 2-7 19 0 10 74 0 11-15 44 -2 2-87t -8t 1 7-25 15 J s. d. -0 8-31t -0 0T61t 8. d. 1 1-68 1 2-07 1 9-9 0 8-2 D 2 2-5 1 4-5 (loss). E* -1 8-55t -12t -0 0-24| +2 6-36J 0 7-17 (loss). P* .. .. -0 8-04-|--5t (i .. 1 7-18 11 H .. .. -1 4-5t 10 -1 7'56t -Hit 0 9-5 5 +4 10-97t 1 0-43 0 1-22 a o i-a 3 0 1 i -0 2-79t 0 9-39 1 4-5 13 0 9-7 9 +2 6-25J 0 8 (loss). I + 0 3-6J 0 4-0 J K 1 6 18 0 7-24 44 0 1-02 tit ( a P-) 1 9-875 20 A 1 5 18 0 1-27 i -6 9-44-i -33t 1 8-875 254 0 9'25 9 1 1 11 0 2-61 1 -0 6-18f -3t 1 2-125 14 -0 0-8t 1 1-45 L .. .. 0 2-62 14 M 0 4-3 2 -0 2-74-|--lt 2 1-875 324 +0 8-53J 0 4-87 M -2 l'85t 1 11-44 (loss). N .. ..2 5-625 384. -010-375t 1 9-93 Highest (to nearest i 2 6 penny) Lowest (to nearest — 1 5t penny) \ 1 10 I 9 2 2 3 0 4 3 4 11 1 10 -1 8t -1 9t -2 8t -1 o-|--2 3t -2 2t 1 11 (loss) * State i mines. t Decrease. X Incrcasi