Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1899-02-16
II is Excited Over the Scarcity
of Material.
THE NEW CONSULTATIONS
Many of the Shops Will Be Unable to
Fill Present Orders For a. -
Several Months. ne

New York, Feb. 16.-In its review of
trade conditions, the Iron Age will say:
9TH iron trade is getting somewhat ex-
cited over the danger Of scarcity of ma
terial, which is reflected in quite a rapid
advance in prices attending the line. Of
course it is only the belated require
ments. relatively modest in volume,
which are being covered. The real test
of the situation will come when pending
loW-priced contracts expire and the tom
nag for the second half Of the year is
to be covered. There has been little that
is new as to the further operations of
the consultations, although some i'm
portant negotiations are known to have
been started. The National Steel COM
pany has been buying coke lands in the
Connellsvllle region and has also taken
the old Columbia mill, which once fig
ured in the beam business. Sheets dis
played a sharp upward tendency, in view
of the movement toward consolidation
of this interest.
The latest statistics of the pig iron in
dustry show that the capacity at the
works among the coke furnaces declined
4,S00 tons per week during January, which
is somewhat Of a surprise. Stocks show
a further decline of about 81, 900 tons dur
ing January. However,, preparations
now being made will soon develop pro-
ductlVe capacity.
The eastern pig iron makers are now
in session in Philadelphia, but nothing
has been reported as yet concerning the
result Of their deliberations Steel is ex-
c~eedingly scarce for prompt delivery,
and those who must buy are required to
pay as high as $3.50 in the central west
and ST. in Philadelphia.
Plates continue to be the banner line
and the demand is very urgent.
The s~hipbuilders at Baltimore, Newport
News and on the Delaware river con
tracted for an additional number OF YES
sells, and orders for bridges and other
structures are pouring in. Chicago sold
about 10000 tons, turning down a much
larger quantity. The leading mills in
Pittsburg cannot sell anything before
July delivery. 1t is interesting to note
that a group Of four German plate mills
have taken the second half Of the famous
Coclgardie order which our mills which
secured the first half, would not touch.
There has been a further advance in
western markets on steel rails. A good
deal of activity is characterized in the
markets in the structural material. An
eastern mill has taken over 5000 tons for
the Boston Elevated. In New York two
buildings, calling for about 5000 tons,
have been contracted for, with additional
work pending. Chicago sales for two
structures of about 4,C00 tons. On the
top of this is the large tonnage required
for the towers and shore spans of the
new East River bridge to be awarded
in a few days. A good deal Of bridge
work for railroads is being placed. The
manufacture Of merchant pipe has ad-
vanced prices 5 per cent and are rush
ing business. Two of the western mills
have divided an order for $50 miles of
10-inch pipe for an Indiana gas line, and
another order for As miles is pending.
In the cast iron pipe trade there is
some uneasiness as to the possibility of a
SfI1Joolp between the new ron So1i5atjn
and the outside shops. In the event of
a fight the Atlantic coast territory would
he the battle-ground.
The manufacturers of cut nails have
advanced their prices. Wire nails are
unchanged, but gossip has it that the
market will be advanced in the near
future Until $1.75 is reached.
In the metal trade the star performer
has been spelter, which has recorded a
further advance.