Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-03-23
PIC IRON MARKET
IS NOW QUIET.
But Other Metal Lines Continue
Jumping Up,
ADVANCE BY RAlLMAKERs.
LngRard. In Asking Wore Money are
coming Into Line Volume ct
Exports.

New York. March sa In It's review Of
trudc conditions The Iron Age says.
In nearly an branchcs NJ the iron aud
steel trades relatively small hut ur-
gent demand for prompt delivery IL
making further advance IMPERATIVE.
Related buyers are puttinr pfie.a an
ON themselves The scarcity VI ina.
teriai In some lines reaches the chnrar-
Tor of a famine and thonr are many
who predict further rise.
SIN. after oil. this dn.a not touch the
burning question nj what uflroa now
contracts win be- made to replace thnss
expiring IN the Second ma third quar-
tors At what level viii buyers o. forced
to take hold AGAIN. There are 70 nutn-
Dor ~ we'll authenticated rusra loo
which purchases fur Oh. rocund half
have been made nj prices pretty close
~ those nov ruiinr But b. " n fact
that many buyers arr Inclined tp await
developments. THIS Involves one great
fiHk and that " that no. disturbances
occur IN any one 81 the chain OF links
from the ore In the ground a. tho I'm
ish,-i material. II must not be forgot.
ton that there " "a tremendous strain
upon the facilities Tor mining trans.
poriation and the different stages OF
fabrication. Lot Anything Occur to
cause trouble. delay ANA suspension,
and the whole Industry is diaurgunlxrd.
The weather during the Last month
furnished a good Illustration ~ this. ni.
though u would be- ordinarily very
unimp0rtnnt factor.
In pig Iron. the market r. auieter. al
though Htili very nrm with an upward
tendency. charcoal iron has been
jumping lately. In Hcasomor piE, there
has been n halt.
The rail makers have again advanced
prices In the West. n u 81 interest a.
know In this connection that tho
Youngstown plant uf the National Steel
company. WILL u ~ expected. be- In "a
position To roll rails In July.
Advances In iinlrhrd lruu and steel
have been altogether too frequent and
general t. cnumcrnto, but prices ynfy
widely according TO time Of dolly.
cry
In some branches thoro arr stl1 lag.
CARDS IN the matter 81 udyn cling pres
\ recent letting or about two thousand
tons of bridge work in the West dis
closed one bid u little over hnlf-Crut
per pound below four other bidders.
Very little ~ being done In the dircc-
tlpn uf export ordera. Report has u
that the mission ~ John W Gates. OF
the American Steel and Wire company,
In Europe ~ TO arrange for an lntDrun-
tpnnl agreement IN prices for the prin-
clphl wlrr products.
Nomr Of the consultations. uuon
which much work has been done. show
% tendency toward tagging an the time
for final settlement approaches. Tho
fact y that u II FAR mora diilcuit now
than " has been Ia got banking Arms
10 participate IN underwriting Hyndi-
Gates. The capacity fur absorption OF
new Industrial irFucH seems 10 be fall
ing somewhat nud more critical spirit
" revealed. This does not OF oourrs
mean that rally meritorious undertake
inEn do no, md al the financial backing
needed, but the time seems past when
every goes"
The advance In raw materials IL now
beginning 10 tel un the prices of long
line ~ more highly finished goods nH
the time approaches when supplies
cheaply bought are being exhausted.
The posrcafinn ~ material purchased
months since haH been too tempting "a
lever Tor securing business tn avoid
Euod deal u irrcFulnrity In prices.
naturally In many eases because manu-
f1rturrfr dld not believe In tho per-
muncnce uf higher prices FOR metals.
That feeling n wearing on and with u
greater volume ~ work manufacturers
In many lines ARE raising prices with q
moro substantial argument to back
them than higher cost OF INV materials.
which dld not really directly nffect
them ~ FAR aH actual purchases We're
Thus there n tendency 20 ask more
rcmunowtlvr prices In many branches
uf the machinery ana supply trades.
A. an Instance how the feeling has
changed. we may note the fact that one
~ the largest jDbhlnF foundritH IN the
ilast. n not In the country, has with
drawn an quotations, an example which
Il IL likely other concerns win be Eiad
to follow.
In the metal trade. copper has shown
n declining tendency, lake being close
20 n cents. Prices abroad have been
fecedlnr. und are now ~ far below
our parity that export sales are prac-
iicnliy stopped. The current shipments |
being on old contracts. This means
that rpon large proportion ~ our sup |
ply viii b. available 10 cover our home |
which certainly has NOT |
expanded In so great a degree, when |
present contracts with much lower |
prices begin to expire the situation will |
become much clearer.
In tin plate "a number OF Importation |
orders have gone tu tho other side, not |
alone for drawback plates. but aiao |
for actual consumption. The Pacific |
ooast IL, u course, most exposed In this
regard.
IN some branches OF tho iron and
metal trades uur rapid advance brings /
up tho question. whether II may moi
pay to re-lmplrt material duty free |
which may hH done N the goods return /
a.