The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1898-09-28
FEW SALES.
The Week In IRON Circles Cuset--Prospects
Are better, However.

ment on steel rails, which has been
affective since the beginning Of the
year, came ia the past weck-the re-
suit of cutting on Chicago and Pitts
burg business. At a meeting on
Thursday in New York the effort will
be made 20 restore the basis of Slo
PiStsburg and $40 Chicago on stand
ard section. A %, 000-ton sale is re-
ported from Pittsburg, but there has
been no rush of business as in the
ANGUS pool breakup of last year, and
makers expect TO restore the former
status, Inquiries on contracts for
1899 have begun and the predictions
are that the coming years tonnage
will quite exceed that for lS9S-a
factor of first Importance in calcutta
tions concerning the steel market
next year. Apart from the disturb
ance in rails, the market Of the week
has shown only "A continuance Of the
conditions recently noted. In spots
foundry iron has been slightly more
,active. One southern producer, be-
cause of export sales and a total OF
500. O0j tons on its order books, rather
than any new demand at home, mark
ed up prices % cents. on Monday,
making No. foundry S7.75 at Birm-
ingiiam On the other hand the
large BUYERS have provided for them
selves for some months TO come, Ii
the balauce of the year is expected TO
bring no marked developments.
Northern foundry furnaces are In d
stronger position but outside OF the
Chicago district are still relatively
lower than Southern furnaces, thus
getting the bulk of the small-lot
trade. Conferences of the Bessemer
producing furnacemen Of the Malon-
ing and Shenango valleys have been
held in the week, both in general and
committee sessions. An EFFORT Is
making to devise a selling agency
nlan and a fair distribution Of the
burden of idle time. Whether this
will be by 30-day suspensions as often
as necessary or by purchasing the idle
ness of certain furnaces has not been
determined. A proposition to erectan-
other steel works. for which the Is fur
naces in the agreement shall furnish
the capital. is also under consideration.
The market for Bessemer iron stands
So so TO SO, in the valley, some small
of iron being at the disposal
of dealers as deliveries on old con-
contracts mature. Gagged by the
demand for finished material, which
is the fiIal test Of conditions in pri-
mary products, the situation Is con-
spicuously strong. Some mills are yet
more congested than in the summer,
and even in those lines in which
nrices have been slow to respond TO
6
the general movement, the number Oh
sellers willing to make the minimum
price is smaller. Steel bars have
advanced 81 a ton to 1c Pittsburg. and
in some instances higher quotations
are made. Plate orders continue TO
exceed shipments from mills. Chica-
on secured a contract for 1900 tons
for Victoria. B. c., against foreign
and home competition, and Pittsburg
closed some good eastern business.
Government work has brought con
siderable tonnage to Pittsburg struct-
ural mills, and a $500 ton order for
new lake vessel was divided between
Cleveland and Pittsburg, the latter
getting the shapes. TIN plate works
are paying a part of the advance IL
steel on the contracts for 1899 and IL
turn are taking business for next yeal
at concessions from current prices, an
anomalous procedure in view OF the
confident predictions concerning the
pending combination deal.-Iror
Trade Review.
Conmission Says No.
The commission appointed unde