Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-01-25
THE IRON AND STEEL TRADE.
Little Change In Actual Conditions, But
Larger Business Coming.

Larger Business Coming.
CLEVELAND. o., January H.-The
Iron-Trade Review says to-day: The iron
trade has come down to the last week
Of January with little change in actual
conditions since the opening Of the year,
but with increasing signs Of the enlarged
volume that will result from present
planning. The week has brought further
evidence that the year win be fairly
active in lake ship-building. and the de-
mand from that source already has
brought several good contracts into the
mills. Structural work on foot in the East,
beside the big contract noted last week,
viii make the mills In that section COM
Portable. once specifications begin to come
In. That the incursions of western mills,
so notable a year ago. have been checked
In the East. OF late, may be attributed In
part to the maintenance OF more uniform
rates by the Railroads.&c. policy that
promises to prevail more ami more.
II is apparent that the period Of un-
profitable prices in finished material is
not over. and that the tonnage Of early
delivery orders does not go wei around,
while the mills wait for projected work
10 materialize. In the markets East and
West bars and plates are showing this
apart from the flrmer feeling in pesse-
mer. shows further signs OF weakness.
There has been little selling since the
new year opened, and buyers are pressing
for Inducements to place even moderate
orders. The statistics show that the ac-
cumulations of iron due to the enlarged
production of tn. past six months lave
been at eastern foundry-ron furnaces,
the charcoal furnaces OF Michigan, and
the Bessemer-producing stacks OF the
Central West. The South, having only
moderately increased its production over
the first half Of 1894. added but little TO
It's unsold stocks. The policy Of It's chief
producer to refuse far-forward sales at
present prices is thus better reinforced
than would be like stand by northern
furnaces.
Among makers OF Bessemer pig In Ohio
and Western Pennsylvania the practical
certainty of small advance In ore prices
may help to maintain the better feeling
noticed in the past ten days, but the
reduction of freights proves partial
Offset, as the tendency will be TO give that
to the buyer. Sales of Bessemer pig at
| SO to slO.l5 Pittsburg, are reported, and
| at 1915, In the Valley.
The filling I'D of several mills on billet
contracts has strengthened that market,
and si4s5 to SIS. Pittsburg, Is the present
| range. The starting OF the Youngstown
plant next week and tho prospect that
metal will be converted at Lorain IN the
second quarter of the year would Indicate
that any upward movement will not go
| far.
A factor In estimates as to the future
| Is the large amount OF mill-work that Is
| on hand In the conversion OF plants 10
new uses, the erection OF new mills,
| and the enlargement Of others.
| With all its previously reported ex-
pansions, tin-plate manufacture has con-
| tributed several important projects re-
Gently. Cast-iron pipe contracts are being
made by number OF municipalities. and
at the lowest figures ever recorded. Wire
! rod mills are busy. and a number are
| sold well ahead. Wire-nails at Sc have
been an active market Of late. only the
largest output can stand such a price
| and another determined effort for an al
vance Is talked OF.
Rail-orders are still held back. An ono
mill has contracts for 900 tons.