Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1899-02-22
REVIEW OF
IRON MARKET
Increased Business in All Its
Branches.
RUMORS OF COMBINES
Different Associations Are Holding or
Will Soon Hold Their An
nual Meetings.
RUMORS OF COMBINES

New York, Feb. 2c.-In it's review of
trade conditions the Iron Age will have
the following to say under date of Thurs
day. There is increasing excitement in
the iron trade and prices are now advanc-
ing in leaps and pounds. Continued
heavy requirements are coming into the
market both for raw material and for
finished goods. Some of the great pro-
ducers are in a congested condition and
instances are quoted of great plants
which are practically sold out until Oc-
tober. A growing disposition is observ-
ed to try to cover as much of the second
half as is possible.
Bessemer pig in the central west has
been advanced 81 per ton and is now $12,
valley furnace 1t is reported that a large
concern purchased about so 1000 tons in
the open market for a plant in the Cleve-
land district needing its output at the
same price. Beyond this the volume of
business is small. One concern is in the
market for about 1000 tons. In foundry
iron the market is very stiff. The fur
naces in eastern Pennsylvania have made
good sales, while southern concerns have
again sold largely for export, the ag-
gregate being 10000 tons, of which 10000
tons was basic pig. For prompt steel
there is almost a famine and as high as
81 has been paid in Cleveland district
and S22 and upward in the east. The vol
ume of business, however, is small. Wire
rods are not to be had at any price, the
leading producer needing its output for
its own requirements. Steel rails in the
- --- l. 600 -.
business.
The price has now reached a point
where we are Nc longer under the parity
of the worlds markets and must surren-
der the export trade unless willing to
sell at a concession, or unless the foreign
prices advance. 1t looks as though an
order for l., 600 tons for China would go
abroad. In the plate trade the pressure
continues undated.
The Carnegie company has entered into
a 10-year sliding scale contract to furnish
the pressed steel company with its plates,
aXles, etc, the quantity involved, which
when present plans have matured, being
from 900 to 900 tons per day. This Car
negie company withdraws from the con-
templated car building enterprise.
The contract for the towers and shore
spans of the new East river bridge goes
to the New Jersey Steel and Iron COM
pary and the material probably to Pitts
burg. The quantity involved is about 12,-
0C0 tons, 1000 tons being plates. The re-
quirement that the steel must be OPEN
hearth made by the pig and ore process
greatly restricted the sources of supply
and enhances the cost. In Chicago or
ders calling for about 5000 tons of struc-
tural material have been placed and 12,-
Geo tons of bridge work is pending.
1t appears that progress is being made
with the bridge builders pool, which j. P.
Morgan & Co., are to finance. 1t is to
take in the leading builders of railroad
bridges, highway bridges and buildings.
1t is understood that these Interested in
a lumber of large plants are largely in
tereSted.
The first ~skirlnishes between the cast
iron pipe consolidation and the outside
shops in eastern territory have taken
place. Quite a fair of work is
coming out. Continued efforts are being
made to get the manufacturers of SteeI
pipe together, the consolidation to be car
ried through under the auspices of j. p
Morgan & Co. Although at an early date
the subscriptions are due by the under
writer's Of the National Steel company
it is not yet definitely settled whether the
Oliver ore interests will be included. The
sheet makers are to have a meeting ir
Plttsburg at an early date and the west.
ern bar iron manufacturer are in SEES
sion, but nothing has yet been announced
as to the result of their deliberations.
The principal item Of interest in the
metal trade is a further advance in the
price of tin plate Of % cents per box. Spell.
ter has continued its extraordinary rise
Copper is very dull at a shade under Is
cents, a price at which every consumer
will restrict his purchases to the mini.
num-, while every producer strains every
means to get out more metal.