236 Mineral Trades 



cargo was bought, it was agreed to deliver the ship emptied in so many 

 days and in case of default to pay demurrage.^ It became the fixed 

 practice of first buyers to aim at making \s. per chaldron clear profit. 

 In addition they had the profits of lighterage, metage, cartage, sur- 

 plus measure, and from the credit allowed to their customers.- They 

 extended credit to their customers for periods ranging from three 

 months to one year, and the profits on the longer credit sales were 

 often double those on cash or short term sales. Their capital was on 

 the whole turned over three or four times a year.- 



The first buyers had several means of controlling somewhat the 

 market. They gained control of the Kghters and restricted their 

 number and use in such a way as to make them practical regulators 

 of the rate of discharge from the ships. They bought more cargoes 

 than they could immediately discharge with their unloading facilities, 

 and thus gained a speculator quahty. Until forbidden in 1788, they 

 combined in groups for purchasing coal and resisting the demands 

 of the crimps which might seem exorbitant.^ They acquired shares 

 in the ownership of ships which gave them self-interest in high prices 

 paid for coals.'* 



The "Land Coal-Meters Ofifice" had special connection \\ath the 

 first buyers who as sellers had to pay the metage, 45. per chaldron. 

 This Ofifice was established in \14:(f and consisted of two managers 

 called "Principal Land Coal-Meters" and deputies appointed by them 

 called "Labouring Coal-Meters." They were to measure every sale 

 above eight bushels and issue tickets containing the names of the 

 seller and consumer, the quantity, the price, the dates of sale, delivery 

 and admeasurement, the metage charge, and the names of the carmen. 

 Dealers and those interested in any way in the coal business were not 

 to be appointed to this office; a good many of the appointees were 

 shopkeepers and tradesmen. These meters measured the coal 

 brought by land; another meters' office in connection with the Custom 

 House measured the coal in the ships before being unloaded. The 

 purpose of the Land Office was to pre\'ent frauds in the admeasure- 

 ment of coals as sold by the wholesalers and retailers.*^ 



1 Rep. from Com. H. C, X, 560. 



- See testimony in Rep. from Com. H. C, X, ,'548-9, 570. 



•' The act of 1788 forbade an}' nimiber greater than five from uniting to purchase 

 coal; 28 Geo. Ill, Cap. 53. 



••These various ideas are brought out in testimonies in Rep. from Com. H. C, 

 X, 551,560,561. 



5 19 Geo. II, Cap. 35; 22 Geo. II, Cap. 37; 32 Geo. II, Cap. 27. 



'' A long list illustrating these various frauds may be found in Rep. from Com. 

 H. C. X. 600 4. 



