The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-09-09
THE Iron Trade.

IronmaSters orthe Central West Have
Contracted for Their Entire Output
for More Than q Year Ahead = a
Glance &C the Metal Markets.
In the current Issue Of the Ohio VAL
ley Manufacturer. the metal markets
are reviewed as follows: Reserve stocks
OF pig iron are down to the vanishing
point. Notwithstandlng that every fur
mace capable Of activity is IN blast
there Is q great scarcity OF iron.
II Is credibly stated that the furnace
masters OF the central west have con-
tracted for their enlre output and can
not entertain propositions requiring de-
livery much before 1901. This is truly
an amasing condition when one recalls
the stagnatlon and low prices OF three
years ago, when the press of the ooun-
try was explaining the cause BY saying
the capacity to manufacture exceeded
the market requirements. The tact Is,
the railway managers were IN urgent
need OF locomotives, cars, bridges ana
track equipment, but their earnings
because Of the prostratiOn OF commerce
due 10 legislation tampering with fiscal
laws, were 30 beggarly that they could
not AFFORD to buy. When brighter
days began to appear ahead, therefore,
they found Il necessary 70 almost re-
build their roadways and to re-equlp
them with motive power and rolinB
stock. A number OF other causes con-
tributed to create the enormous de-
mand, chiefly the railway building IN
Io,,..In lamar f,hIna E0Vnt and South
Africa. The remarkable expenditures
OF the nations for naval enlargement
has also been a large factor, while the
cheapness OF steel and Its greater ad-
vantaEes, has displaced lumber for nun.
dreds OF uses that in their aggregated
requirements foot up large total.
The nature and magnitude OF a large
number Of these development enter
prIses are so great that they Will re-
qulre from two to five years to complete
them. This gives promise OF an eX-
tended period for the present condi-
lions. Nothing but absolute failure OF
crops and successful attempts 70 re-
verse our fiscal and financial policies, II
would seem, could Interrupt the pres
ent prodIgious volume Of business. war,
which Is Imminent In South Africa, may
be expected to increase rather than 70
diminish the demand for food stutts,
machinery, etc.
Prices keep moving up gradually TO
higher figures in response to perfectly
legitimate causes-demand. The new
orders coming in every week to manu-
facturers for, structural Iron for build
inEs, bridges, elevated railroads, Tor
railroad equipment, for boilers, for oil
we'll supplies and for ships and public
improvements, constitute large total.
Men are asking when It Is going to stop
but the end does not seem In sight.
Furnace masters are beginning to get
anxious about the winter supply OF ore
and coke. Prices for ore and coke are
S\her, and lake and rail rates are
higR<r for both.
Theirs is talk Of $25 Bessemer pig iron.
and examination OF all the factors en-
terIng into a summary Of the conditions
and prospects makes 1t appear probable
Mt no late date. Foundry and mill
irons are also moving up and large con,
tracts for months ahead has caused
consumers to cover requirements Tor
the next year at what a year ago would
have been regarded as gilt-edged prices.
BIllets, sheet bars, rails, beams, plates
and ali subsidiary products are follow
ing in the advances on crude products.