The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-11-25
n THE mon INDUSTRY
Startling eurprisss in the Ran
Trade.
A SELLING AGENCY PLAN
Ths Danger Of oharp Competition Il
Oooe - uand-Dissurbang Faor
soeS IN ths General
0t0Ol Trade.

New YORK. NOV Z4.-ln it8 review Oh
trade conditions. h Iron Age. the
leading authority on the iron business.
VIII NJ to-day:
THE rail trade has had q startling
surprise during the last week. It was
the general belief that nothing but
formally afixing the signatures to the
agreement and their ratification by the
boards OF directors was required to
make h common selling agency an
established fact. At the last moment.
It 10 reported. the Pittsburg interest
withdrew and the elaborate plan fell
20 the ground. 1t appears. however.
thai q series of fresh negotiations were
undertaken and that some sort OF a
truce has been now arranged for
West. Before these were consum-
mated. q large business was done In
the West at concessions. but there IL
a good deal Of tonnage still on the
market.
buyers appear to have Withdrawn
20 test the strength Of the Western
understanding. In the East many or
ders have been placed. Rail
point to the fact that a very large ton
mage for 1899 has been assured, so
large. indeed. that the Western mills,
particularly. will be fully employed.
They argue that II would be sense'ess
rood q chance as they are likely to
have for years to make the rail trade
profitable.
"Yet the danger Of sharp competition
10 close at hand. particularly since the
hope of the adoption OF a general work
- ------>-..t haa hoon nAnnod-
To the iron trade at large the develop
ments in the rail trade during the past
week mean tina high prices In that
branch are out of the question and the
consumption will not be hampered
from that source. Those rail mills
which are not exclusively engaged In
this branch will not be as potent and
disturbing factors in the general steel
trade an they nave been at times In re-
cent years.
Rail profits will not be partly APP
piled to a fighting fund in the billet and
other departments. The happenings IN
the rail trade will therefore be regard
ed with euuanimity. II in fact. they are
not considered favorable from at least
one point of view and that is the con-
sumption of steel for 1899. IL a heavy
rail demand. a general active con.
sumption stimulated by widespread
Increased purchasing capacity coupled
with low prices cc~incident-as they
promise to be-then 1893 ought to
strain our producing to the
utmost.
$50 far as the general trade is con-
cerned, the Developments of he week
have been favorable throughout. Sea-
board consumers of foundry iron are
beginning to take increasing interest In
the market. In Philadelphia sales have
been heavy n elsewhere leading
foundries are coming forward. Some
of the large pipe foundries are testing
the market and some good sized In
quiries LAY been out for basic open
hearth pig.
I'm the Pittsburg district there has
been some good buying of Bessemer
pig, while steel billets have recovered
from their recent weakness and are
held at higher prices.
'In Chicago there have been very
large purchases of bar material. the
sales OF bar figurir~ up 10000 tons.
while one order for 100000 tons OF
beams was placed.
Export inquiries are numerous. but
the question Of ocean freights Is be-
coming more and more Troublesome
II Is stopping much new business
and delaying deliveries on old con-
tracts"