The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-10-26
IRON TRADE NEVER SO BUSY
ITS PRESENT PROSPERITY UNEQUAL
LED IN ITS UISTORY.

Tho Country's Entire Product Next Year
Contracted for Two Months Before the
Year Opens-Record Prices Reached for
steel Rnils-New Demand for Steel Cars.
condition prevails In the iron and steel
trade in this country never before known in
the trades history. Two months before the
opening OF a new year the entire iron and steel
product OF the United States for thatyear has
been sold More than this. III the present de-
mand continues. some outstanding contracts
and those yet TO come in before the close OF the
present year cannot be filled until reduIstions
are made on the ore mined in tho eariS, m orths
Of 1901 Tho plain facts about the iron and
steel industry are here set down.
Tho total visible supply OF pig iron in tho
United States on Jan |. 1893 was 1894 040
gross tons The total production OF all kinds
OF steel In the United States In 1893 was
1892 Sj7 gross tons. This supply was all sold
months ago. Judging by the arrangements
that have been made to turn out a greater
quantity OF ore this year than last. II IL esti-
mated that the supply OF steel for 1900 will be
about II. 100000 gross tons. Az iron 10 used
now almost only for foundry purposes. in
the making OF castings for farming imple-
ments. stoves and the like. steel has be-
come the great factor in tho iron and steel
trade. and the 12.OOO.OOO tons OF steel es-
timated to be the product for 1900. has
been contracted for Part ofths. either as raw
material or in manufactured articles. will go
abroad. The exports OF iron and steel and
their products in 1898 amounted to about IOO.-
600 tons. for which there came hack to the
United States nearly SD2.OOOOOO. as against
about S 100000 In 1897 Those engaged
in the trade. in all its branches. have
put forth every effort 10 increase their foreign
trade this year. with the result that the export
trade this year will reach. according to present
estimates, nearly 500. 0OO. 900 and. from the
present outlook. the record for 1900 will be not
far from Sl3O.0O0.O00. Such volume Of export
trade in steel and iron was not dreamt Of few
years ago. when our imports were far in excess
OF our exports
As great as Ia the foreign demand for our
steel and iron products abroad. however. the
great demand is at home. The domestic in
dustry which has made the greatest call for our
steel for the coming year is thar which involves
rhe making Of pressed steel cars This Is prac-
tcally new industry. hut the advantages OF
steel cars for carving freight over wooden
ones are so many that the railroads OF tho
country have made a demand for them out VI
all proportion to the supply The steel car
costs about three times as much as the wooden
car. but it can carry about twice as much
freight. it reduces the haul and lasts about
three times as long. Said steel manufact-
urer yesterday:
My company has no contracts for furnishing
the steel for these cars but that doesn't pre-
vent me from seeing the need for steel which
the demand for these cars will create. In a few
years you won't find a railroad OF any impor
tance in the country using anything but stee!
freight cars"
Next to steel cars. the biggest demand for
steel is for steel rails. Tho contracts already
made for steel rails are far and away heavier
than were ever placed before in this country
1t 10 estimated that within the last month over
100000 tons have been contracted for and
most Of these contracts have been closed
within the past week The new rails will be
largely used to renew old ones but it s known
that. thus far. contracts have been let, or will
soon be let, for the building OF between l 900
and 1000 miles OF new road In 1900. Among
the orders for rails already placed are the fol-
lowing;