The herald., 1898-12-23
Low PRICES FOR IRON
NATURALLY LEADS TO HEAVY
BUYING
Mills Crowded With Work Show an
Inclination to Decline Orders or
Increase Prices

NEW YORK, Dec. 22.-In its review Of
trade conditions, the Iron Age says today:
The year 1893, with its extraordinary rec,
activity unparalleled in the history of the
industry, except in the year 1879. An enor-
nous tonnage has been placed for 1899 de-
livery, but at very low prices. An increas-
ing number Of producers, having their order
books in good shape for many months to
come, are virtually withdrawn from the
alleged efforts to obstruct the construction
The Western markets for foundry irons
have been comparatively quiet during the
past week, but there has been continued ac-
tivity in the East, where the furnaces had
been relatively lower for some time past.
These furnaces have now advanced prices
and are calling halt.
In steel material Pttsburg notes sales OF
one block of 25,O00 tons of bessemer pig. In
the East there have been a number of sales
of round lots of basic pig iron at the range
of $l0.25 to $l075.
There has not been much doing in steel,
East or West. Makers of billets are firm
on the basis of $l8 Pittsburg and $l7.33 to
$3.50 in Eastern Pennsylvania. Buyers,
however, are resisting the advance. To
what extent and in what manner tin plate
consolidation has control Of the supply OF
tin plate bars has not transpired. 1t is re-
RdTUcQ DIS DOsSlDle tudt eOulc arrangement
must have been made.
In the rail trade the event of the week
has been the sale by the Maryland Steel
Co. of 10000 tons of rails to Asiatic Rus
ia, thus following up the former sale Of
AZ, 900 tons to the same parties. The report
of sale of 81, 600 tons for Australian deliv-
cry cabled from London looks like be-
lated reference to an old transaction. The
Pennsylvania Railroad is in the market for
large lot of rails.
The wire trade is developing strength.
Rods are scarcer and pretty high prices have
been paid by Canadians. The negotiations
for the control of large additional plants
by the leading interests have actively pro-
gressed and are reported to have resulted
In the acquisition of one important establish
ment in the Cincinnati district.
Further orders have come to the plate
mills East and West and they are now go
overcrowded with work that prices are
being advanced and business is being turned
down. An interesting transaction was the
sale of lot of 1000 tons of plates for export
at Philadelphia.
The makers of structural material are get
ting fair amount of business for this sea-
son of year and the Indications point to a
full volume of work for 1899.
In the West particularly, all the concerns
who supply material for car building are
very heavily engaged, some of them being
full Of work for the first half of 1899.
In few lines prices are still irregular
There is complaint of cutting of prices in
sheets, while in cotton ties, lively strug-
gle for orders is progressing in some markets
the South.
The cast iron pipe makers are figuring on
a lot of about 10000 tons for Yokohama.
The prospects for heavy export trade next
year are regarded as promising.
At the close of this week the Executive
Committee Of the American Tin Plate Com
pany is to discuss and determine the policy
ofAthe consolidation on prices. The metal
rade ia looking forward to, the decision
with keen interest.