New-York tribune., 1893-12-29
CONDITION OF THE IRON TRADE.
BETTER TINES HOPED FOR AFTER TIE NEW
YEAR COMES IN-WAITING ON THE TARIFF


YEA. COMES IN-wAITING on THE TARIFF
Cleveland. Dec 2S-"The Iron Trade Review says
to-day with the time for balancing the yea,
business only few days off, nothing - 10 O
looked for In the iron trade but more pfo"'""
quietness Surmises to what may De eNP'O'~
after the opening of the new year taHe the P'"N
Of the usual staple Of market gossip. There Is q"
agreement in the general statement that an -
pansion into anything like the old-tlme dehi1"r
need not be looked for In sixty or ninety Gays -
In twice that time: but that larger can III az"
and steel products than has been known az any
time in the past six nths may REASONABLY "
pected early in the year. and that this VIII tenl -
increase. That producing capacity, IN 'he ""0
range Of material will continue for some "i'e ~
be much more than adequate 10 consnmpNNe ~,
mand is evident. since most new enterprise "'-
wait upon the new Tariff act. Yet the acc"il""' '''
Of renewal demands in these months Oh S''s"'
ought to insure continuance of the better syP'oi"'
noted in December but the market viii creep De-
"Coming 10 actual conditions to-day. pig IRON was
never lower than IN this closing wr'K' i''iI gc,d
ports as the firm attitude OF furnaces Sya h nr"
are 0vfp'3pLeu UY months contracts at figures very
close to those named in connection WIN ~ rinr srJ
below sl for deliveries running 10 Jmy o' f., nTnt r
year. and round sale by iarsr th so - of
ported at figure considerably below sne S'V 90 ~
a week ago Billets still at me Slo ~ iItIh, i
but transactions limited PlttsDurg mofe % 'nah na
ever holds the key TO the situation ni v. ,1 ri~
steel Her mills have been invading EYER II I,' n ~
I and has been openly given out thdt No'h - :.
be- taken regardless of profit or even Oh cost, .'"
mills may be filled and kent gong IN Iho 'iho ~ u,
the largest producer. contracts taken IN M
last Two months viii be executed under a schedule
I Of wages much lower than heretofore pald. Inns
may insure some slight profit. even on the pro
djgious cut prices Of which the trade has been heAi
ing OF late: il also makes II prac;icalN cr!'h ma
the lowest notch has been reached on pl' - an
/ ges beams and channels The COKE SIT non -
also an element in the account. \ Strike ~ f'"l w. w.
/ arv by employees of Connclsvile companies, now
having on the 81 IL basis. would bear nara upon S'V
/ manufacturers whose furnaces did mol happen 70
/ have the heavy accumuaIonS of coke visible III M
/ wards of some large producers. certain Cohtll-
| Rences bearing upon the prize OF besSti"I IngtHi
iron and upon the ability Of steel WORKS 10 IN
orders In case of a strike are Just now making ~
question of coke contracts for the hrst haf oil 1919
| of peculiar interest. ,,oir,
| among rolling mills and steel works yet withn the
ma of fortnight particularly in the central West IN
necta,ions OF moderate buying In the near futur''
Agricultural works doing more than AZ any ,llne
| since the panic; there is fully as much delndhi on
bridge account comes at this season ot me yea
| and building material is more active than IN Nne
| early part of December. Among buyers OF pIH
| iron cast iron pipe works ana stove WORKS are
! husiest lust now: iobbng and machinery iouhders
| are dull with few exceptions.
| ''rns financial condition of the general IRON 'i"I'
is unchanged. The few failures recently not'i were
| NOT unexpected. but everywhere the STRAIN Is sun
| severe Two important railroad recelyershlps
v.ithin a week adds no encouragement TO the ont,
! look from that standpoint ana makes u' steel IAN
| demand still more prOblematic