The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1889-11-04
THB IRON TRADE.
A Careful Review and Concise Statement
Of the situation,
Pkilddepkid Record Of Saturday.

\ Careful Review and Concise Statement
Of the situation
'ktladeIpkia Record q Saturday,
Considering the enormous consump-
ion Of iron and steel in progress the
weeks business has been light, most
consumers have very literally covered
for two 10 three months,
md at the present prices OF finished pro-
lucts they are not anxious TO place or
lers for more remote delivery, except at
,haded quotations. Makers OF raw ma
.erial encourage this hesitation among
BUYERS, for they believe that every thing |
points To higher prices and Q greater
scarcity Of material, Both sides are
resting on their arms, so 10 speak. The
advancing tendency has reached lts
limits for the present, but the market y
in such a ieyerish and unsettled condi'
ton that II would take very little 70
throw q large amountot winter business
into manufacturers hands, AconserVa-
tive opinion Is that the market is APP
proaChing another general advance, The
bar,iron makers meet In few days To-
ACT on the question Of better prices,
The wrougit.iron pipe'makers only
postponed the matter Of an advance
on pipes for q short time. The nall
makers West have crowded prices up a
little higher, and, their Eastern co;
workers are contemplating an addlllonal
Improvement because oil the heavy con.
sumption and diminished stocks. Sheet
and galvanized iron Is selling Tor slightly
higher prices, and a pronounced advance
will be established next week, Mer-
chant steel Of all grades is pointing up
ward, although prices have been station;
airy for two weeks. Plate and structural
iron hold their own, and winter ana
spring buyers who have been lately
aroused TO the Importance OF taxing
care OF their future wants have not been
able 10 place their orders al liked prices
or for determined deliveries. Buyers
everywhere recognize that the present
lull ia a suspicious and dangerous one
The point that will determine the
course Of prices and demand during the
early winter Is the volume OF unplaced
business. There are no means ior
detormining even approximately what
this volume Is. Makers and buyers
have been surprised all along az
the extraordinary demand that
has kent up without statement
since September /. A good deal Of Tor
ward buying has been done, but those
behind the scenes know there is q very
large amount OF business yet to place
Tic railroad companies all over the coun'
try have been following an economic
rather than q liberal policy In the mat
ter Of rolling stock locomotive power
and general equipment This policy IS
being changed by a good many roads,
and Il all began to order heavily there
Is no telling what would befall prices In
the iron trade. Car builders stated this
week they have Just received Inquiries
for cars, Locomotive builders have q
rusL Of orders. Equipment manufacture
ers arc all running full time. The max
ers OF general and special machinery arc
also beginning TO work overtime In many
places, and are duplicating orders Tor
shop supplies long before the elHto'
mary time. all these points deserve
notice as indicating the probability OF an
other rush OF orders before the holidays
for delivery during tho lrst quarter Of
next year. The pig-lron market possesses
more than ordinary interest because Of
the alleged statistical evidence OF the In
suficiency OF present sources OF supply
10 meet current demands, There are
two sides to this question. AloIre or less
speculative buying has been done, es'
pecially in the West, against the posi-
billy Of an advance. Great activity
exists in Bessemer pig, aud under the
influence OF heavy transactions prices
are now quoted at SIS 50al0 90 at fur
mace east and $50 at furnace in Western
Pennsylvania. With advancing coke
and q threatened demand for higher
wages at one or two localities west the
situation Is not encouraging. Steel BILL
lets and slabs keep high, but buyers
have no recourse, and 00OO tons were
sold in eastern markets. Wire rods have
have advanced abroad and In tide.
water markets, and buyers are not
higellng over prices. Steel rail
sales Tor the week are report.
ed at $4,000 tons, exclusive Of
small lots. Quotations $50 to S33 East
and S36 West. Concessions not men.
LOHeus Dulpueut9 Az bA'SA y s L
Board Of Control To October ! at 9lo,s74
tons, The railmakers admit that there
is more or less holding of among pro.
Inoters OF new roads and managers OF
old roads contemplating additions, ow.
Ing 10 the advances made In rails during
The past few months. The increase in
railroad traffic over that Of year ago is
exerting favorable influence on the
promoters OF new enterprises, but 1t Is
partly counteracted by the higher cost
Of material. The active and healthy
condition OF British and Continental
markets. lessons the probability OF OBJ.
tanning supplies Of any kind from
abroad, aud enhances the cost Of such
imports as are made. It Is too soon to
say that the symptoms Of higher prices
and OF greater scarcity Of raw materials
are sufficiently strong to warrant con-
sentative men in departing from the
policy they have been following for the
past five months.
Mr.. sprowls and the AIouudsvlllO "sun."
TO he Editor oftt IateltlgAor.
slR;-Ibeg leave through the columns
a II ~. A..aEg ~. A.