The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1895-05-18
IN THE IRON MARKETS.
The Cleveland Iron Trade Reviews Retums
OF the Week in Iron Circles.

The Cleveland Iron Trade Reviews ket unc
Of the Week in Iron Circles,
Probably no week OF the year hnsdonc
moro to establish new basis for iron
and steel prices than the one just ending,
The advance OF blast furnace wages il
the Shenango valley nearly 10 the 1892
level with ten per cent increase at
several Fittsburg furnaces coming in It's
train, was followed by the sensational
stroke OF the Carnegie steel company in
adding Ten per cent. TO the pay Of all its
men, though its contract with them
would continue through the year at the
scale fixed. The pncc thus set win harl-
~ bc dsrcgnricd elsewhere and added
labor cost will be made up by higher
prices on products. In spite Of repeated
assertions that advances in price could
only be sustained by II marked cxpan-
sion in the demand for finished product,
the mnrlset has been demonstrating week
by week that the lifting power IL being
applied at the other end
In the pnst week a special cause has
helped the market for Bcssemcr pig
Buying in the valleys and at Pittsburg
for shipment 10 Chicago in anticipation
of q long strike brought the price TO
$lO.75 at valley furnaces. Alter the re-
sumption at Chicago, some Of this iron
sent on ihe market again, eansing a
slight reaction. Steel shows additional
firmncss and while there have been no
lurge transactions pitisburg sellers are
getting SlG.25 in view of the well-soId
condition OF the rooms FOR June deliver
ies. Sheet. tinplates and bars have adj
vanccd owing 10 strike interruptions Of
mills IN the Wheeling and Chicago dis
tricts, and $22 at Pittsburg mills is re-
ported. Plates. especially light grades,
have been very active and some mills
nre sold to July /, while the price hns
advanced 81 TO SO per ton.
The Iron Age, OF Now York, Thursday
says: The general advance in blast fur
mace wages in the principal western dis
tricts puts all chance of lower Bcsscmer
pig iron at rest for the present. The
raising OF wages at number ol steel
works und rolling mills iorcshndOws a
general movement in that direction
throughout tIse whole territory north oI
the Ohio river and the AlIcghcnics and
may affect the eastern makers also. The
steel market has been quite excited, adj
vancing to $lG.50 and $1675, Pitts,
burg, under moderate sales, but with
quite lively inquiry, Sheet bars. which
sonc time since commanded an advance
Of about 81 per ton over billets, are 50
scarce that an advance Of 50 Is now oh
timed
/ Ia wire rods, which are quoted $21
Pitisburg, tho most interesting event IL
tho closing 81 conversion contracts COW
cring $4,000 to 40. 900 tons hetwecn q
Chicago steel mill and Cleveland rod
mill. Heavy aalcs Of skoIp ngrvgntinl
1900. 900 tons nrc reported from Pitts
burg, and reflect the heavier demand iol
wrought iron. There h continued dc
IDund for bars and sheets IN the wcsl
nnd n fair movement 10 plates aud
structural mnferial.
The metal markcts have been quite cx
. cited Copper hns been stimulated BY y
sudden and excited rise 10 London, iol
. which the osicnsiblc rcnson Is an agree
, mcnt 10 limit American exports 20 60,
600 tons per nnnum. II such an nr
rangcmcnt exists il does not include i'm
pnginnt interests. Really the ndyanc
, Is due 90 40 expanded demnnd Their
, has leen heavy movement in lend Il
AL the primary markets, and price,
4 have been sharply advanced WITH seller
G at The close holding OF. Labor trouble
e W Knnsas have advanced the price 4
; $500.