The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1889-05-13
TIE IRON MARKEr.
The Outlook Shows Some signs Of Improve
mSnt In the Last Few Days,
Phft1deipkid RoaOd Of Saturday,,

the Outlook Shows Some signs 81 Improve
msnt In the Last Few Days,
Philadelphia Rseord Of Saturday,
The fact Is dwelt upon in rail circles
that there is fully as much projected
work as there has been at this season fol
many ysars, and the belief is expressed
that when the withheld demand does
come prices Of almost all iron and steel
products will advance. Sales for the
week $1,000 tons; small lots, $751; large
lots, 81, The pig iron situation, 90 far
as foundry iron Is concerned, Is impEoV-
ing since the cut Of Monday, or rather
the open announcement hatseClet rates
heretofore made were TO be regular quo
tahons, The only element ofuncertain'
ty now Is what can and will the South
ern iron makers do in foundrier, The
temper Of Northern buyers Is to buy
cautiously even at the drop, Repre-
sentatiyes OF Southern companies were
taken by surprise at the action Of Penn
sylYaniR makers this week, and up TO
present writing no corresponding re-
duction has been made. The present
anthracite outputper week Ia 81, 600 tons,
against 5000 tons on February !,
and OF coke iron $4,000 tons,
Ten furnaces have blown out In that
time and o canvass yesterday pointed to
the probability Of nine or ten more
blowing out within thirty days, though
the action OF the furnace companies
will DO determined by the developments
In the Southern iron trade during the
next two weeks, Bessemer iron Is In no
wise affected, nor are a few special
brands Of foundry which always have
their own market. Mill irons are only
indirectly affected, and should bar iron
requirements reach normalsummer pro-
portions forge iron will not sell much, II
any, under SIS for standard brands.
Quotations for No, foundry are SIG 80
and $l700. A great deal hinges on
what the Southern iron makers are able
TO do. Chattanooga advices show that
there Is no accumulation and no dimlnu-
ton In output, In Western pig iron
markets no effort is being made by
makers or brokers' 10 unload or secure
contracts for future delivery at present
prices. There iS no deeply seated belief
that expanding summer requirements
will soon clear up all stocks and bring |
wider margins, at least on finished iron.
The bar iron demand has improved
somewhat among interior mills, and
within forty-eight hours mail inquiries
show that large buyers are only awaiting |
the right time 10 strike. Gard rates,
81 Goal so. The same improvement is
seen In nails, though the larger stocks |
forbid any early advance. Plate and
iron makers are booking more |
orders, but few OF them are OF much |
Belt-line and railroad ter.
minal work will be plenty during June,
rs Is indicated by the progress Of negoti'
atoms for plate and shape material.
Eastern pipe.makers have not had all the
work they could do, but Western mills
have been filled up and an overflow bust.
ness Is awaited East. The sheetiron max
arsare catching up. The merchant steel
mills are better offthan for three months.
Muck bars are firm at $27. All the
bloomers are doing well. Gar builders
ire working up old supplies and are not
buying much new stuff. Parties well
informed state that good many car
building contracts will be given out be.
lore June 80. Locomotive work Is
scarce. Railway managers admit in
some instances that pressing wants In
Tue way Of rolling stock and equipments
are being held back. The demand for |
Lake ores is active, but large buyers are
awaiting concessions in lreights by water |
before placing all their orders. Late
foreign news shows continued activity |
in all forge and mill products as well as |
In ship and marine engine building.
Furnaces in Cleveland district have |
been damped for want Of coal. 49,.