The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-16
DEMAND FOR BAsER METALS.
Markets Apparently stimulated by TIE
F&Iondike Gold Craze.


NEW YORK, Aug. 15.-Although there is
no Disgusting the fact that the rush TO the
Klondike from San Francisco is nearly as
great as that which accompanied the dis
covery of gold on the Frazer river thirty
nine years ago, when 10000 men left for the
new diggings within four months, there
was in the course of the Frazer river eX-
element from 1858 to 1861, no such increase
in the demand for the baser metals as now
appears at this stage of the Klondike boom.
The discovery of gold in the klondke has
at least given a stimulus to persons else
where to look for gold, and they seem to be
finding it where they least expected
But the most surprising thing in the opin-
ion of business men is thS activity in the
line of the baser metals, such as iron, cop
per lead and zinc. While thousands of men,
professional buyers and permanent inves-
tors, have been busy in Wall street with
gold and silver securities with grangers.
gas and railroads, the Metal Exchange on
Pearl street has been the scene of unusual
industry Orders for iron copper, tin, lead
and zinc have been coming in from the
manufacturers and from foreign markets
which have caused a futter in circles which
deal exclusively in these manufacturing
commodities. Aluminium and antimony
have also taken renewed activity, and
1ilillG0 al ONtI lliC COuhNly N4AANA Van NNAAA
out coal and are not hampered by the
strikes are running full force. The strikers
have been unable to force Il coal famine:
Men who are buying copper, lead, zine ana
tin for manufacturing purposes say that
the wave of prosperity Will leave no miners
with time enough to think OF Striking.
Joplin, Mo-, is the scene of renewed ac-
tiyity in the lead and zinc ores The mills
have been opened to meet the continued de-
mands for these metals. Thus far there has
not been much rise in values in these par
ticular metals, but the producers are able
TO ixrin fro, hn them
that it will not be long before there Will be
a shortage, unless some effort Is made to
increase the supply.
The iron market in Pittsburg while it
boasts of no large sales within the laSt
week, shows great improvement ~ III III @ sIil%I
trades. The demand is getting better every
day, and there are inquiries in the market
for large lots of iron and steel Finished
material has felt the Improvement. Ihe
large mills in Pittsburg have their books
full of orders and the small ones must also
have the right kind of assurances, for every
mill in the city is now in operation Sev-
eral orders were placed this week for foun-
dry iron, which heretofore has been nat in
the market. Notwithstanding the strike
coal has not advanced in price enough 10
stop manufacturers when there is such
great demand for their product. Mills are
point where higher prices can be asked.
large orders for them in the future Indicate
that there are to be extensions in street
railroad service all over the country: The
advance in all kinds of railroad stock Will
enable many of the roads to make the i'm
provements which the engineering depart
nents have long asked, but which the dull
ness in trade HERETOFORE has prevented
Large holders of wrought scrap iron re-
fuse to offer their stock at the present
prices which are the same as for many
months These holders see that there is
bound to be a big demand for all kinds of
iron, and they are, therefore, unWllnhg TO
let their scrap go at the regular prices
There is even an unheard of demand FOR
old car aXles, and any kind of old iron is
now regarded as a commodity which can
be turned into cash at a moments notice.