Daily capital journal. (Salem, Or.) 1896-1899, 1898-12-23
IRON INDUSTRY
ess6szsct1
Unparalleled Activity in This Line Of
Business,
Prices Now Are Low, But Many Proeue.
Crs Are Scaling Prices Much
Higher


By Associated Press 20 the Journal.
NEW YORK, Dec. 23 --In It's review
OF trade conditions, Iron Age says:
The year 1898, with It's extraordinary
record for production, closes with
burst OF activity unparalleled IN the
history OF industry, except In the
year 1879. An enormous tonnage has
been placed for 1899 delivery, but at
very low prices. An increasing
number OF producers, having their
order books In good shape for many
months 10 come, are virtually with
drawing from the market or asking
higher prices. The Western markets
for foundry irons have been compare
lively quiet during the past week,
but there has been continued activity
10 the east, where the furnaces had
been relatively low for some time past.
These furnaces have now advanced
prices and are calling a halt.
In steel material Plttsburg notes
sales of one block OF $4,000 tons OF
Bessemer pig. In the east there have
been a number of sales of round lots
OF basic pig lrCn at the range OF sl0.25
TO S10.75.
There has not been much doing In
steel, east or west. Makers OF billets
are frln on the basis OF SIC Pittsburg
and Sl7.35 tosl7 .50ln Eastern Pennsyl-
vavia. Buyers, however, are resisting
the advance.
To what an extent and Ia what
manner the tlnplate consolidation
has control OF the supply Of tln-plate
bars has not transplred. 1t Is re-
garded as probable that some arrange.
ment must have been made.
In the rail trade the event OF the
week has been the sale by the Mary
land Steel Company OF $4,000 tons Of
rails TO AsIatlc Russia, thus following
up the former sale OF 10000 tons u
the same parties. The report OF a
sale Of $4,000 tons OF Australian de.
livery cabled from London looks like
belated reference TO an old trans.
action. The Pennsylvania railroad
Is In the market for a large lot OF
rails.
The wire trade Is developing
strength. Rods are scarce, aud pretty
high prices have been paid by Cana
dians. The negotiations for the con
troll OF large additional plates 10y the
leading interest have actively
progressed, aud are repurted TO have
resulted In the acquisition Of one i'm
portant establishment In the Clncin
NATL district.
Further orders have come to the
plate mills East aud West. and they
are now so overloaded with work thai
prices are being advanced and busi.
ness is being turned down. An inter
csting transaction was the sale OF a LOT
OF 1000 tons OF plates for export al
Philadelphia.
The makers OF structural material
are getting a fair amount OF business
for this season OF the year. and the
indications point To full volume OF
work for 1899.
In the West, particularly, all the
concerns who supply material for cal
building are very heavily engaged
some OF them being full OF work fol
the trst halt OF 1899.
In a few ll2ss prices are still Irreg,
ular. There is complaint OF cutting
OF prices 10 sheets. while la cotton ties
a lively struggle for orders is progress.
Ing Ia some markets In the South.
The cast-iron pIpemakers are tlgur
Ing on lot OF abont 10000 tons foI
Yokohama. The prospects for heavy
export trade next year are regarded
as Dromislng.h
AT the close OF this week the exc
cutlve committee OF the American
Tinplate Company IL TO discuss and
determine the policy OF the consollda.
tion on prices, The metal trade Il
looking forward TO the decision with
tho Iaanaaf lufanaak