Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-06-13

New York, June 12.-The Iron Age
tomorrow will say:
The past week has been one of the
most stirring in the history OF the iron
trade for many years. 1t presents an
unbroken record Of advances all along
the line. The most extraordinary thing
is that the upward tendency has devel-
oped so fast without the powerful aid
of heavy purchases from the principal
consumers, the railroads. The central
west leads in the advance and the
boom feeling prevailing there seems
justified, because there is practically
no reserve capacity either in furnace
plant or steel works. 1t is really only
in Chicago that such a reserve does
exist west of the Allegheny mountains.
1t is very different in the east and so
far as pig iron is concerned, in the
south and notably in Virginia.
There has been quite heavy buying
of Bessemer pig and a further rise has
been established, with $11.75 bid and
refused in the valleys for the second
half of 1895 The market has been ac-
tive in steel billits, considerable sales
having been made for the third quarter
up to $3.50 and $1S75. The eastern
markets have strengthened very con-
siderably through the withdrawal OF
western makers.
There is some pressure to advance
steel rails in harmony with the rise in
raw material, but nothing has been
done thus far. The rise In steel and
the difficulty in getting tin plate bars
is making the domestic manufacturers
of tin plate nervous over the danger OF
being forced TO surrender a part Of
their market to foreign manufacturers.
The ore market has shown some curi4
GUS developments lately. There have
been large sales of Lake Bessemer
with a stiffening in prices and a per-
feet slaughter of iron and Bessemer
ores. The railroads have demanded the
clearing of the docks of nOn-Bessemer
ores, and under that pressure they
have been sold down to s1.75 at Lake
Erie ports.
There is a good deal of activity in
finished iron and steel. Advances are
In foundry iron there have been
heavy sales in Cincinnati. The Ssuth-
ern furnaces have advanced prices 25
cents per ton, and In Chicago local
foundry iron is up SOC. The market Is
stiff and is rising in the East.
The sudden demand for forge iron,
incident to the revival in pudding, has
made that grade scarce all over the
country.
RAINEY AGAINST COMBINES.
Cleveland, O., June 12.-It now seems
probable that there will be war TO the
knife in the coke regions. Mr.. w. j.
Rainey, of this city, the largest coke
operator in the contry, has defeated the
efforts of the coke operators to combine
for the purpose Of advancing prices.
In an interview Mr. Rainey says:
yes, it is true that have re-
fused to join the syndicate, whose OBJ
ject is to raise prices.
"In the first place DO not believe in
| syndicates. l believe in every one
standing on his own foundation. I am
| opposed to the workngmen combining
for the purpose of defeating the oper-
ators, and am likewise opposed to the
operators combining for the purpose Of
defeating the men and to advance
| prices. l am firm believer in fair
competition"
will your decision prevent the op-
orators from forming such a combina-
tion, and will your action defeat the
objects of the proposed syndicate?"
81 do not know that it will. They
have gone ahead in the past without
me. They can put the price up 10
where they please, but it will not make
much difference to me-"