The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-11-24
STEEL TRUST FORMED
he pittsbure Interests Withdraw from the
Agreement.
|Hf RAIL MAKERS LOOK FOR BIG BUSINESS
.,omer. Arc withholding Orders
80, The western Mills Ia Test
The Combines strength.

Nav York, November 23.--ln its review
conditions, the Iron Age, uhe Leading
',,hority on tho iron business, viii say
.,,,rrow: The rail trade has had start
Nc surprise dureng the last week 1t was
N. general belief that nothing but the
lr,ga,,res 10 The agreement and their
k,,iaeation by boards of directors was re-
,n5ad Ia make tho common selling agency
!, established fact. At the last moment,
is reported, the Pittsburg interest with
,,w and the elaborate plan fell 10 the
rm,nd. II appears, however, that series
\ fresh negotiations were undertaken and
NAT some sort of truce has now been ar-
anred for among the railmakers OF the
:mtral West Befole these were consiim-
naaas1. a lalge business was done In tae
Nest at concessions. but there is a good
heal OF tonnage still In one market. Buyers
knpear to have Withdrawn to test the
.length Of ths Western understanding. In
NJ East a good many orders have heen
>laced
Railmakers point 10 the fact that a very
I.rpe tonnage fo, 1899 is assursil-so large
|r.isad. that the Western millers, particu-
[arly. will be employed. They argue that
4 would be senseless to cut prices and
nus abandon as good a chance as they
re likely To have for years TO make the
a, trade profitable. Yet the danger OF
Sery sharp competition is very close at
land. particularly since the hope Of the
kdoption Of general working arrangement
LAS been abandoned.
To the iron trade at large. the devel-
Scments in the retail trade during the past
Eeek meant that higd prices in that branch
Ire out of the question. and that con-
Ir,mption VIII not be hampe!ed from that
konrse. These rail mills which are not
Exclusively engaged in this branch VIII
lot be as potent and disturbing factors in
he general steel trade as they have been
4 times in recent years. Rail profits Will
low be partly applied to lighting fund
h the billet ald other departments
The happenings in the rail trade Will,
therefore be regarded with equan!mity,
in fact frey are not considered favorable
nom at least one point OF view. and that
! the consumption of steel for 1899.
If heavy demand and active consump-
ion stimulated by widespread increased
purchasing capacity, coa9led with low
prices and heavy export shipments coin
ide-as they promise 10 do-then 1899
k,ght to strain our productive resources 10
he utmost
So far as the general trade is concerned
he developmsnts of the week have been
favorable throughout.
Some OF the large pipe founders are
testing the mark and some good sized in
Iuiries have been out for basic open health
pig.
In the Pittsburg district there has been
)ome good buying of Bessemer pig. While
kteel billets have recovered from their
recent weakness and are held at higher
prices.
In Chicago there have baen very large
purchases OF car material, the sales CO
bars figuring up 100 900 tons, while one or
Ter for $500 tons of beams was placed.
Export inquiries are numerous. hut the
Question of ocsan freights is becoming more
Ind more troublesome. 1t Is stopping
h,mh new business and is delaying deliy'
ries on old contracts