The record-union., 1899-10-27
With Some Large Transactions Noted In the
Cruder Products.
The Prevailing Car Famine Again
Emphasizes the Necessity for
More and Modern Rolling Stock,
and Large Requirements are
Expected to Come Upon the
Market From That Quarter.

NEW YORK, Oct. 26-Discussing the
conditions of the iron and metal trades
the Iron Age" will to-day say:
There has been very active week'i in
some branches of the iron trade and in
the cruder products some large transac-
tions have taken place. One interest has
purchased fully $4,000 tons of basic pig
in different parts of the country and
has options on some additional
amounts. 1t is reported that, so far as
the iron purchased in Western Penn
sylvania is concerned, it was on the
basis of $21 at furnace.
In bessemer pig one large consuming
interest has taken about $4,000 tons at
$23, at valley furnace, for the first
half of 1900, in addition to a lot Of
10000 tons referred to last week. Pitts
burg reports sales of forge iron aggre-
eating 25000 tons.
In charcoal iron there has been a
heavy movement also. Report has it
that very large block has been taken
for car wheel purposes and some good
business has been done in iron for mall
leable purposes, with one inquiry for
10000 tons in the Western market.
A number of conferences have been
held by some of the large billet pro-
ducers but so far as we can learn, no
definite action has been taken. Some
large trades have taken place on the
basis of relatively low figures but spe-
clal conditions governed these trans
actions so that the prices do not re-
fleet the market accurately In that
way 10000 ton lot was placed, in ad-
dition to the $4,000 ton transaction re-
ferred to last week
The opportunity given to the railroads
to come in at $33 before the price was
raised to $50 seems to have been widely
aValled of and in some instances the
tonnage placed by individual roads was
very large, while in others ii was be-
low the usual quantities. The move
ment which has now eliminated, began
as early as August and a good deal of
tonnage was placed at figures running
up from SIS to so. The total now on
the books for 1900 delivery is vari-
ously estimated at 1000, 900 tons TO
I,oOOOOO tons, not including from
2OO,O00t 100000 tons to be carried over
from the current year. Among the re-
cent sales are 145,000 tons for the Har-
riman systems, 10000 tons for the
Pennsylvania, distributed among the
mills on the line of the road: 10000
tons for the Illinois Central; g.. 900 tons
for the New York Central; 10000 tons
for the Baltimore and Ohio; 40, 900 tons
for the St. Paul; 10000 tons for the
Union Pacific; 40, 900 tons for the Chi
cago and Northwestern and a large
block for the Louisville and Nashville.
The Lehigh Valley order went to Pitts
burg. Practically all the coal roads
and all the New England roads have
placed their orders and a large pax of
the business for the South and South
west was also taken.
Inc Great Northern, which it was ex-
pected would call for a very large uuan-
tty, has placed only $4,000 tons. The
report Is current that since the advance
TO S3o has taken place an order for 90
uUu tons has been entered for one road.
Since the capacity of the mills is
about 2,25O,000 tons, the works are now
engaged very considerably beyond the
nrst half of the coming year.
me prevailing car famine has again
emphasized the necessity for more and
modern rolling stock and it looks as
though very large requirements will
come upon the market from that quar-
ter. As matter of fact, a considerable
number of orders have been placed
lately
The lake shipyards and the yards
along the Atlantic Coast are crowded
with work and have added to it lately
notably on the lakes, so that some of
the plate wills are now under heavy
pressure and viii remain so for MANY
months to come
reports from the wire trade refer to
heavy commitments for the future with