The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-09-23
Boom I'm the Iron Market.

With the return of more favorable con-
ditions the iron and steel markets have
been steadily mounting upward, every few
weeks recording advances, and with these
advances it has become the more difficult
to purchase any article made of iron or
steel in quantities desired. This has been
the case more in getting plates for Orders
and columns. This has greatly delayed the
work on several of the large buildings now
in process of erection in this city. AS
usual when there is a sharp advance in
iron or steel, the wholesale dealers of In
dianapols are in condition as regards
stock TO be considerably benefited. One of
the wholesale firms, after having advanced
the price of nails twice and having a large
came. decided not to make the last ad-
vance saying that his profits at the pre-
ceding advance were very satisfactory and
he would give the retail men a little adj
vantage i'm the rise of the market. Build
ers and contractors have noticed the limits
of the supply drawing closer, month by
month. 1t is the belief of nearly all of
them that iron is to go still higher. that
the supply is to decrease and that the
building movement here will eventually be
checked because the cost of materials Will
be too high for profits.
Only week ago there was a rise of So a
ton in the price of structural iron. This fol-
lowed recent advances of similar proper
tons. That the trade expects the move
ment to continue is evidenced by the fact
that the bar iron rolling mills will only
refusing to book orders ahead. and by the
fact that the Iron men, in submitting es-
Inmates of material TO the contractors, are
stipulating that their figures are only TO
hold good for ten days. On a falling mar
ket such stipulation might be expected
from the other side
steel famine. the New York Mail and Elk
press says: 1T is expected that the appre-
hended stoppage of building will react on
iron and bring about more moderate prices
With the approach of winter work will
slump off little, making the demand for
material less active. There. are builders,
that before long foreign beams will be
enabled to again enter this market. To
competition from Europe they look for the
final check in the upward march or iron.
A representative Of one of the largest
American iron companies. who did not care
to be quoted, said the last advance in the
foreign market. Another rise would prob
from abroad. 1t may be that that is to
be the solution of the problem.
The manufacture abroad of structural
iron has the disadvantage, builders state
that such material cannot be turned out
duced upon individual orders. specifying
patterns and dimensio, In other words
the contract practically must be made
wears ago. There is considerable European
iron In the skeletons of the cities along the
Atlantic seaboard, notably here and In
Boston. Germany and Belgian bars have
an enviable reputation among contractors
and TO them, rather than to English makes.
would preference again be given. The use
of foreign iron. has. however. been en-
barrassed bv the objections of the building
trades. which have insisted upon the native
product. 1t Is a belief widely prevalent
that the iron famine is partly. artificial.
The rolling mills find ii to their interest
to disseminate the impression that they
are working under great pressure and can
not meet the demands on them Al fur
nishes an incentive for builders to offer
still higher prices, as well as an excuse for
demanding them"