Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1889-08-20

Ihe baltimore NJ anlkGctUreTS record
of this week, in its weekly review of the
business interests OF the country, says:
4 strong undertonejs felt throughout
the iron markets of the, country. The
volume of business for the past few days
has not been up to fhe average, but
prices are strong an9s. confidence is
stronger. among the most sasient fea-
lures are the equalization Between sup
ply and demand, the increasing re-
quirements, the diminution of stocks and
the inquiries for future requirements.
Another favorable feature is the
very heavy, even eXtraordin-
airy, demand tor machinery
and mill and fac tory appliances. The
only weak spot is in the rail trade. The
enormous production and consumption of
iron and steel Is surprising even to the
iron interests. Orders for material,
supplies, machinery, etc, are flowing in
at a rate which indicates that buyers
have concluded that the long-defeTred
day of bottom prices has at last arrived.
IT. is certain that never before was the
iron industry face to- face with so MUCH
wOEzz, so many new enterprises SO much
ANXIOUS capital. The Developments tot coal
deposits, the ERECTION of, coke ovens
and rhe coking of'cOal where a few years
largo such thing was not thought Of, the
extension of railroads into mineral and
lumber and agricultural regions, the
spread of an energetic population into
never lOcalities-thosa and other factors
are assisting in the steady development
of our resources. The Lake ore trade has
beeR.p henomenGlly active. Up to last
count Cleveland receipts were 8 300 600
tons for the season, or double the amount
mined up TO same time last year.
The season 8 total output is esti-
mated at 6 800 900 tons. The utilization
Of the Southern ores for basic steel pur-
poses will not be much longer deferred.
Two extensive plants are projected there,
and no doubt the success of these will
lead to the inauguration of similar enter
prises in the South There is also great
activity in the Cuban ore trade. Craft
capacity and rolling stock capacity have
been recently considerably enlarged ana
EasteEn steel rail companies have accu-
INFLATED large stocks.
The pig iron market is strong. Prices
are firm. Buyers hesitate to follow the
upward tendency in the market, Many
believe that the stimulus that has lately
been given will bring about reaction in
prices, but this is a mere opinion. The
history Of the IRON trade for wears past
mas SIOtsll IHdl no Ou6 Cdu lOISCaSL II.
The very opposite often happens. The
Northern Alabama furnaces control the
situation. The furnaces in that section,
as well as in adjoining districts, are well
sold up, so that there is not that cutting
ana.shadIng III current dealings that we
are accustomed to expect.
The Southern managers prove them
selves to be good makers of pig iron and
good financial managers as well. They
continue to remind Northern competitors
from Boston to Philadelphia that they
have nOt>relinquished their hold on those
markets 10y Offering to furnish iron at
rates q little below ruling rates in those
markets, but just nuw the differences are |
not sufficient to defect much business to
Southern furnaces. The South has wisely
concluded TO get the most for its iron.
Northern forge irons are sold at SIS %
to SO. so, and the better ones are pretty
wen cleared up. No. runs from SIG to
SI7. No. l at from SIT SOTO SIS. Good
Southern No / coke can be delivered at
New York at SIG rs.
In all other branches of the iron trade
considerably activity prevails The
bIoomeries are crowded and prices are
high. Nail slabs are S29 80. Many iron
makers have taken business at S2S. 80.
On nnlsneQ IRON rates EdSl auQ W eSb
have been equalized. and the causes Of
complaint have been removed. The bar
mills all over the country are filing ND
steadily, but prices range from 81 go 20
81 90. according to location of mill. Car
building is coming in, and this demand
is helping mills 10 much business. Word
comes from some quarter that all of the
trunk lines East, and some OF the West
ern lines, will be in the market very soon
for cars, engines, shop equipments, etc.
Iron men are hoping there is something
in such rumors.
A traveller just returned from tour
among the larger manufacturing centeEs