New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-11-30

THE WAY TIE IRON TRADE REGARDS THE
TARIFF CHANGES THREATENED.

Cleveland, Nov. 29.-"rhe Iron Trade Review to-
day says: $50 far the volume Of sales Is con-
cerncd the month JUS, closing has been the most
satisfactory in the iron trade since the beginning OF
the depression No ground appears as yet for con-
fdence that better prices will prevail IN the near
future. though or two grades OF southern
iron the disastrous cutting OF the last few months
seems TO be over Now that the draft of the new
Tariff b,ll il before the manufacturers OF IRON ana
steel there will be q disposition to adjust business
to the bill 1t stands Though 1t may be con-
fidcntly predicted that many bad features Will be
changed before Congress finishes with them, the
fact that the bill in it's general scope and purport has
the backing Of the Administration and that the OPP
position to particular features will come In each In
stance from small minority OF the party in power.
makes the question OF amendments entirely prob
lematic 1t Is safe to say that no manufacturer VIII
make plans reaching very far into the future on the
strength OF his hope that schedules affecting him
will be altered by Congress. The early date fixed
for putting in effect the new duties makes the bill
a factor In every transaction running more than
two months into the coming year. While 1t Is not
to expected that Eastern buyers of pig iron. for
example. would quickly change to imported iron
after years OF satisfactory operation with home
brands, yet the probability OF lower prices at home
under a low ad vaorcm tariff will tend to make a
waiting market meantime.
In finished material manufacturers find the re-,
lt ctions proposed even more radical than they nad
been led to expect. and the coming year promises
wage changes that Will demonstrate that labor mas
seen only the beginning of the rcadjustment. But
for the cloud that cnvelops It's closing, the last
week has shown traces or Improvement.
Southern sellers OF pig iron seem more hopeful in
view Of the large sales reported In the last ten
days. j..
The new steel rail arrangement. fixing IL price Of
S24 at Eastern mills and s25 at Western mills Is
somewhat misty as to details. but the fact that
prce-cuttng Is stopped is well enough established
IL Is not clear upon what basis the Sparrow y
Point and Steelton plants In the alliance. The
receivership would prevent membership in pool,
and the story of IA lease OF the plants Is denied
by officials OF the companies Yet It is prob.
ably true that the Maryland plant, ut least. Will
be closed down in the near future An order from
the court permitting the receivers 10 manufacture
5000 OF rails at 81 ton Is accompanied by the
statement that there no plans for further OPP
erations. 1t Is plain thot no great tonnase vas
placed by railroads at the recent cut prices Few
OF them were ready TO contract at any price.
Pittsburg Nov 99-The Iron and steel market
continues exceedingly duh and featureless manu-
facturers OF cotton ties are very much distressed
M the prospect of those articles being put the
free list They say they will not be able to manu-
facure them simultaneously uness there are similar
reductions on raw materials Some few orders for
new steel rails are being secured by local makers
at the new combination price. s24 at makers mill.
Small lots are quoted at $25 q ton. During the last
two days 5000 tons of steel blets and slabs have
changed hands at ~ and ST rs. with deliveries sx-