Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-03-02
Prices Jumping in the Iron and
Steel Markets.
PIG IRON Is NOW SCARCE
Question Not ~ Much one OF fur-'
mace. as OF Raw Material Move
mcnt- In wire and Tin.

New York. March 2.--Thc Iron Age
Will say today:
The Iron and steel markets are cx-
citing and seem now entirely out u the
control OF the sellers. Prices have been
Jumping dollars per ton and the excite
mcui Ia spreading. As Tor tho nrst haif
u the current year. It has ceased Ia b.
question ~ prices and has become q
mni,cr Of ability 60 deliver at nll,
II " not ~ long since the majority
~ the trade pooh. poohcd tho prvdic.
ton that there would b. a scarcity ~
pig Iron. The fact l. admitted now and
the unly question " when relief may be-
expected. That may be- brought about.
either by the blowing IN Of additional
furnace, or by the checking ~ the .N.
rut shipments. dr by the falling IN ~
tho nome demand. For the nrst half ~
the current year not a single one II
these factories nor all combined. will
make any Impression. VIII u come ear
~ IN the second haif3 We believe that
IN this fespc,'t tho hopes 81 many will
BE- doomed tu disappointment. II IL
true that number % large newly re-
modelled plants In thc West are 10 fall In
after the mrs ~ July. ana that fur
naccs now idle ate expected to start In
soon. II ~ true that a number Of small
eastern stacks are trying to- got ready
aud the same 10 true IN Virginia AMI
The South
nut with many enterprises u r. not
a matter % putting the plant iutp
shape. but OF getting raw materials. Ia
the central west, IN the east aud IN Wiz
Elnla, the ore problem d. the biggest
one. although relief may come Co some
through imported ORES. In the south
u Y matter largely N fuel.
Tho export business. uf course. viii
b. checked. The tonnage ~ an kinds
flots W TO about $4,000 10 100000 tons.
For The frst six months and fpf part
~ Tho SECOND half much has been con.
tfaCtpd Tor. In some cases even now 10
has been possible a. delay dullvrriu.
and thus Eu room 90 take uu iumuH,
tie work. In some lines. lu southern
PIG iron. contracts provide that the
metal must Eu abroad. aud switching
may hot be- possible. Under the cir
rumrttnceH. u does not look ~ though
much relief can De- expected before
october.
As an onset. II must be- considered
that In many lines the conHumorH have
been bare % stocks Tor years without
feeling any Inconvenience. They urr
having rather novel experiences now
ana are endcaVorinR 10 guard against
them by accommodating some reserve.
In the aggregate this means a blk tons
mage.
The shortage OF material has been
emphasized during the week by some
happenings. A leading wiru Interest has
purchased aud u about 90 close for ary-
eral blocks 81 bllleta. nEEregntinE about
sp.o0o tons Tor eastern delivery. Two
eastern steel works have purchased
stock VI about $1,000 tons ~ beHacmur
pig In yards ~ a plant which N now
limiting It's operations 10 special quail
ny. What the second half will bring
In bcrscmcr pig In the Central West
VIII develop IN "a few days,
For earlier shipments the furnaces
have sold AZ hlTh az 1880 and are now
out % the market.
There have been heavy sales ~ mill
Iron east and west. The scarcity and
hiEh prices of Bullets. which have
Jumped 10 So. pittshure. uro starting
every pudding MIL IN good condition.
and the demand Tor mill has therefore
been very heavy.
In foundry iron there have been large
purchases IN tho East while In tho
Chicago district "a large car company
has taken 1000 tons ~ northern iron
and like quantity OF southern Rig for
the second half
Advances have taken plnc, along tho
whole line OF finished iron and steel
structural material h M g. per ton
and bars are - higher. Plates sheets
ana Hkelp are very difiirult Co buy at a
sharp advance. Merchant pipe makers
have issued new uniform discounts.
Cut nails arc higher ana Interest crn-
tera on the proposition 10 ahthcr the
eastern works into consolidation.
A sharp advance has taken place IN
wire products, and In tin plate fur
ther upward move II imminent.