Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1899-06-08
For Iron and Steel Products
Are Demanded.
SITUATION REVIEWED
BY the Iron Age, the Organ of the
Trade--Men Employed in the
Various Departments Want a Big
Increase in Wages.

New York, June S.-Discussing trade
conditions the Iron Age will say today.
The majority deprecate and deplore the
rapid advancement in prices, but all find
it more prudent and Immediately profit
able to drift with the tide, rather than
waste their energies trying to stem It..
The question may be properly raised, to
what extent advances in prices are justi-
fled when decreed by consultations or
associations of manufacturers. Two prin-
cipal reasons are brought forward, one
the advance in raw materials n the
other higher cost due to higher wages.
In the cruder products the latter do not
really cut much Of a figure when COM
pared with the rise in prices. 1t is a
different matter with the long line of
finished rolling mill products.
In the central west the annual negotia-
lions between the men and owners are
progressing and labor cost, for a year,
on bars, hoops, tinplates, sheets, ETC.. is
now to be fixed. A very considerable ad-
vance is asked by the men. How much
or how little of it will be accorded re-
mains to be seen. This time the position
of the men is a strong one. The manu-
%facturers, under prevailing circum-
stances, may be expected to put the add
ed cost upon the selling price. On the
top of that they ought to get a figure to
compensate them for paying higher
wages on contracts taken during the
past six months at lower prices at de-
livery after July 1 when the new wages
go into effect. In other words, higher
prices seem inevitable on finished goods
w. AIs -,~, Xvl:l 49, o,E - 49,, 1r,
could not cover themselves on sales made
thus far for delivery during the second
half of the year. so far as increased cost
through rising wages affects them, the
matter is different with the advance in
raw material.
The majority nave undoubtedly pur-
chased supplies for the future increase
in prices and a large amount of billets
ave been contracted for at $25 per ton
in the central west. Sales for above that
price nave been mad for small lots for
immediate use and it is an open question
whether as the fall approaches more nor
NAL conditions may not prevail. Under
the circumstances it is doubtful policy
to push up prices-now close to the
straining ~point-on the pretext of recent
advances in raw material, which are
really largely nominal.
Plates I've been pushed upward along
the whole line because buyers have put
tilSiIA oloAA SIi.h' ~ Ia prs " NliC 4
has been a further general advance.
Among the sales Of Grey Forge made by
eastern furnaces is one lot of $1,000 tons
at $12. Birmingham. Bessie pig has sold
in one lot of 5000 tons at $13, Birming-
ham,. There have been further large
transactions in malleable pig in Chicago,
one interest selling 5000 tons. In Pitts
burg there have been transactions in
Bessemer pig involving about $4,000 tons,
THIS including IL 900 to one large interest,
and $4,000 tons to another. Steel has sold
in small lots at $50 to $31, Pittsburg, bu
these figures have little real significance
except to emphasize the scarcity. Muck
bars are exceedingly lard to get.
Sharp advances have been made all
along the line in finished iron and steel
structural material has been put up S.
pei ton, plates have scored another s.
advance, some large contracts placed anG
pending, bars and sheets have risen ir
all the markets. In the wire trade a gen
eral advance of % per cent per 100 pounds
has been caused. The plates have beer
specially pushed up, since the men will
be granted an advance in wages.
Steel rails for early delivery are onl,
obtainable at fancy figures in small lots
With the hiSh prices now ruling for re.
layers and old rails some of the road.
who bought on the break last winter
must be getting nearly as much for tn,
material per ton which they take out o.
the tract as they paid for the new rails
The railroads are determined to come /,
for their share of the good things coins
and are advancing rates. This is true o
the central west and also of the south
We understand that the Virinia furnace,
are to pay higher rates on pig iron ship
ments.
CONTRACTORS AND BUILDERS