Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1899-12-07
The Iron Market.

New York, Dec. 7.-Discussing the
condition of the iron and metal trades.
he Iron Age today says:
AS is natural after so long a period
OF intense activity, the iron and steel
markets nave Quoted down consider
aply. "A number of causes contribute to
bring this about. Prominent among
them is the circumstance that a large
part OF the requirements in many lines
nave been covered, not alone for the first
half of 1900, but also for a part of the
second half. This is notably true of
Bessemer pig and largely true of FOUNDRY
irons. 1t is true also of steel rails, II
20 a more limited extent only of steel
billets inc steel bars.
Some of the large consuming interests
Tor blllets have covered pretty well into
the spring. Others, on the other hand,
have been in the market in very con-
siderable blocks for the first half, but
profess to have views as to prices which
sellers are quite unwilling to entertain,
Billets, like a number Of rolling mill
products, have had an appearance of
weakness lately, which is really nothing
put a reimbursement in prices. The days
or nigh premiums to procure immediate
dellVery are over for the present, and
values are on a more conservative and
sounder basis, taking costs into con-
sldefat1On. Another reason for the lull
Is closely connected with the season. A
good deal Of outdoor work in many sec
lions OF the country ceases altogether.
! nus IN building and in many municipal
improvements consumption falls low.
Usually manufacturers employ the dull
time TO stocks for the spring
trade, usually the largest from the point
ct tonnage of all the seasons. Even with
the sharp lessons Of the present year.
manufacturers may be expected to be
chary about filing their warehouses with
goods into which relatively high priced
raw material must go. Nor are mer-
chants. wholesale and retail, likely to
stock IN literally at today's range of
values in the face of possible adverse
contingencies until their is clear evidence
that the spring trade will develop as
we'll as the general prosperity Of the
country would seem to justify, buying is
apt to be cautious.
The effect, if it deelops at all, will take
the form probably Of increasing prompt
ness OF deliveries on the part Of sellers,
and later on of some desire on the part
Of consumers to have shipments de-
ferred. An intermediate stage may be
tina consumers will find it convenient to
some stock as a safeguard
against the harassing delays to which
they have been subjected. 1t is believed,
too, in the trade that the powerful in
l1uence Of the great consultations will
PC eXerted toward preventing any serious
fluctuations. While costs have advanced
all along the line. there are many wide
differences in the influence Of that factor.
To many producers the full effect will
not tell until we enter the second half
of next year.
While export shipments continue in
good Nolume, the great bulk of the ma
terial going out is in contracts taken
long g at low prices. FOR months in
many leading lines new transactions
haze been small and infrequent. Still,
cen at the DlnSpOt laval pf ya1,,ao for
the export trade some businss is being
done and more is pending. Thus we
understand that a big block of east iron
pipe is being figured on.
In the metal trade dullness is the gem
eral feature. Copper hovers nominally
around II cents. Tin has been declining,
as seems only natural considering the
fact that consumption has been drop
ping off. Spelter has advanced slightly
in price.