Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1889-09-02
TRADE IN THE SOUTH.
Activity ana Full Prices the Order of
the Day-A Favorable Outlook.
Crop Prospects as Good as Could be Asked.
The South Entering Upon the Most
Prosperous Period in It's History.
Baltimore Manufacturers, Record.
ing the system

DdlIInOTe hanuIdCIuTefS heCOfu
The Manufacturers Record of this
| week, in its review of the business inter
ests of the country, says:
Reports from the South continue as ia
vorable as could be asked as to the pros
poets for the crops and the outlook for
business. Everything is moving forward,
and the South seems to be entering upon
the most active and prosperous period in
It's history. The cotton crop will almost
certainly be the largest ever raised, the
same promises to be true of corn, while
other crops have likewise exceeded all
former records. Moreover, the world s
supply of cotton is so low that good
prices are almost assured for the whole
crop; certainly of all that IS marketable
early in the season. The flow of capital
from the North is unprecedentedly heavy
and the activity in Industrial interests is
widespread.
In spite of the fact that only a mOder-
ate amount of business was transacted
in iron and steel last week, quotations
for certain products actually advanced
The reason for the improvement, if such
it is, is that stocks are low and require
)
next month or two of most mills and fur
naces is sold. Properly speaking, there
is some little capacity yet remaining and
those who desire to avail themselves of
it are willing to paw a slight advance for
the preference shown them. Makers of
iron and steel base hopes on this fact of
an advance after sixty days. That
is to say, many well-infOrmed
makers believe that by November
|, if there is no change in the
situation, that the present outside
prices for small lots will be paid on large
lots for future delivery. They argue
that this basis will not only be necessary
but just. That there has been an ad-
vance in the cost OF productions; labor is
paid % cents more for padding; anthra-
cite has been advanced; coke has gone up
practically 1915 per cent; freights have
been leveled up little, and in certain
other directions cost has been increased.
Putting all these things together, the
iron and steel makers feel perfectly JUS
titled in anticipating a general average
for early and midwinter products equal
to the present outside quotations. Their
reasoning may lie sound and just, but
market conditions have little respect for
logic or opinions.
Less Southern iron is finding its way
into Northeastern markets than usual.
More or less iron yet remains to be de-
Iivered on old contracts, but new con-
tracts amount to little, the reason is
that there IS not that difference in price
between Southern and Northern irons
which would induce Northern buyers to
prefer the Southern product; besides,
the Northern output is at present equal
TO the demand and the Southern makers
been to sell their iron for a single cent
less than they think they can get for it.
Quotations for Pennsylvania forge are
S15 to $3.50; No. 2, SIG to SI7; No. l,
ST. TO SIS, with the average at SIT. 80.
Southern irons are quoted little less
Heavy sales of steel billets and slabs
have been made at New York, Philadel-
phia and Pittsburg, at prices about 90
cents above July quotations. There are |
pending at present IN New York several
important negotiations IN steel some also |
in spieGeleisen. No foreign wire rods
are selling on account of high figures.
Bessemer pig at interior points Is still ad-
Yancing. In Chicago, st. Louis and in |
Ohio valley markets there is a slow
movement, but at full prices, of crude !
irons, and a quick movement at full |
prices, for variety of iron products, |
merchant steel, and galvanized and sheet |
iron.
The merchant bar demand all over the |
country shows no sign of abatement !
The demand for all kinds of material for /
agricultural implements has rather i'm !
proved than declined. In Western mar !
kets, nails continue at the advance re- |
Gently made. In Eastern markets they !
are moving at 81 80 to 81, according to |
size Of order.
There is great deal Of pipe line build |
ing III the West, and several new schemes |
are attracting the most earnest consider /
alton Of capitalists. Skelp iron contracts |
are going through at 80 TO So and /
2 10, for grooved and sheared, respect I
lively. The pipe mills are full of work,
and pipe laying is being prosecuted some
thing like the way railroad building was
done in earlier days.
The plate iron mills are all well sold up, |
and nothing more need be SAID Large |
orders for ship and bridge building work
are coming in every week. Several rail-
road companies are in the market, not |
only for bridge building supplies, but for
small lots of rails, railway track mater
ial, and machinery for various purposes. |
Nearly all the roads are increasing their
equipments and putting in machinery tor |
repairing purposes.
In the West a good deal of bridge |
building viii be done next winter The /
largest contract recently heard of was /
for the Jeffersonville bridge, to cost ST.
00Q, 600, taken by Philadelphia firm
Steel rail orders are not very heavy at
present. One %, 000-ton order, it is ex-
pected, will go to Pittsburgh this week,
or at least, that claim has been ma.;e. |