The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-06-16
IRON AND STEEL SITUATION
Iron Age AuaIyz-s the Present aud
Future Demand.

New York. June 15.-Discusslng trade
condition the Iron Age says today: In
place OF any check OF the upward tend
ency in the iron markets. prices are sth
rising all along TIE line and the feeling
is growing more and more nervous. Con-
sumption does not seem 20 be checked in
any direction; on the contrary ii r
question more OF delivery than Of price.
While It rs true that the bulk Of current
business in many lines Is merely the COW
ering OF urgent needs. 1t IS equally true
that a disposition 10 take hold fer next
years delivery at or near present values
is developing. The manner in which con-
tracts are being covered for material Tor
the balance Of this year Indicates that
consumers do not hope for any recedins
of values. Where usually contracts for
long season are paced. buyers. however.
are not disposed TO 90 much into ls10.
Thus the agricultural implement makers
have bought very heavily OF bar. mer-
chant steel, malleable castings. etc, for
the balance OF 1899 but. against their usual
custom, they are not covering beyond that
period. The scarcity OF Bessernsr pig
continues and soma Of the large works
OF the centra, west still need additional
quantities. The situation IS reflected 70
some extent by tlre purchases OF south
ern basic pig for 1870 delivery which have
already been made. In foundry iron the
advance continues under moderate voi-
ume OF business. We note a sale OF about
20 900 tons OF southern iron to ne put INTO
warrant yard during the first part OF 1870.
&c xr,TF - -+a.f hf-
the heavy sales Of muck bars in the cen
tral west. one alone having sold 1890 tons
in the last few days The price has now
risen from $S1. % 20 $3.50. We unters tand
also that there have been some very large
sales OF sheet bars from the fourth quar-
ter. In bar iron. the eastern as wei as
the western markets have had an extra
ordinary rush OF business and the eastern
prices. which Jagged behind the parity OF
western prices have now taken q rapid
upward movement. The scarcity IN plates
continues and with the constant flow OF
shipbuiIding and bridge ouders coming IN
It looks as II the large additions 70 capac-
ity OF plate plants would be well taken
care OF. In fact. we hear OF one sale Of
5000 tons for next pears delivery At pres
ent prices. Inquiries from abroad keep
coming in. but there Is little chance q do
ing anything with them. in fact. strenu-
Gus efforts have been made 70 switch con-
tracts for delivery ia Europe. taken a long
time ago. over TO the English or cont
mental plants since the material could be
re-sold at handsome profit here. But tbs
has been successful only TO a moderate ex-
tent and the billets wire rods. sheet bars.
etc. contracted for viii have 70 be
shipped"
Chicago, June IA. r. Flower. one Of
the directors Of the Federal Steel company
who, with party OF officials Of the Min
left for New York last nigntsHRI-DU
nesota Iron company. has completed the
annual inspection % the Minnesota prop
erty Of the Federal company left FOR New
York last night. Before leaving Mr..
Flow said: The output OF The Minnesota
mines this year viii be 3.oo0 90 tons
greater than any Year in the history %
those MONIES. Most q the ore shipments
are by the boats from our docks. u =
possible 20 load one OF the largest steam
ers in four hours. This iron IS dlstriS-
uted 10 the reduction plants al tho vsri-
Gus lake ports. Iron and is products viii
be no daarer this year-higher prices wnl
not be the result OF the great osl+put-lf
anything. 7 should say, prices will rule
lower"
Chicago. June 15-Iron and Steel to-
morrow viii say: pig iron e. about ono
dollar higher than a week $50. The 80
mark has been reached. There is 10 con
olidatt7n Of interests and The strength
seems 70 Be due wholly 70 demand which
e greater than the trade can satisfy. :;
IS lntruated that this year there viii BE-
no shutdown q ne mills during the
months of July and kugust. the mills
harirr TO NUN rnrk -n hand