Arizona republican., 1899-11-01
Its Present Prosperity Unequaled
in Its History.
THE SUPPLY and DEMAND
The COuniry'S Entire producf Next
Year Contracted for two Months
Before the Year OpenS-ReCord
Prices Reached for Steel Rails.
New Demand for Steel Cars.

New York, Oct 31-A condition pre-
walls in the iron and steel trade IN
this country never before known in
the trades history. Two months be-
fore the opening of a new year the
entire iron and steel product of the
United States for that year has been
sold. More than this, if 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 acquisitions are
made on the ore mined in the early
months of 1901. The plain facts about
the iron and steel industry are here
set down.
The total visible supply os pig iron
in the United States on January !,
1898, was 12,674.O49 gross tons. The to-
tai production of all kinds of steel in
the United States in 1898 was $685., ,S57
gross tons. This supply was all sold
months ago. Judging by the arrange
ments that have been made to turn out
a greater quantity of ore this year
than last, it is estimated that the sup
ply of steel for 1900 will be about H.
100000 gross tons. AS iron is used,
now almost only for foundry purposes.
in the making of castings for farming
implements, stoves and the like, steel
has become the great factor in the
iron and steel trade, and the 120OO.OOO
tons of steel estimated to be the pro-
duct for 1900. has been contracted for.
Part of this, 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 100000 tons. for which there
came back to the United States near
ly S92, ,OOO, ,OGO. as against about $6S.O00.-
600 in 1897. Those engaged in the
forth every effort to increase their for
eign trade this year, with the result
that the export trade this year will
reach, according to present estimates.
ent outlook, the record for 1900 will be
not far from $3.50, 1000. Such a
volume of export trade in steel and
iron was not dreamt of a few years
excess of our exports.
AS great as is the foreign demand
for our steel and iron products abroad.
however. the great demand is at home.
The domestic industry which has made
the greatest call for our steel for the
coming year is that which involves the
making of pressed steel cars. This is
practically new industry but the ad-
vanrsges of steel cars for carrying
freight over wooden ones are so many
that the railroads OF the country have
made a demand for them out of 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 a steel manufacturer yes
terday:
My company has no contracts for
furnishing the steel for these cars,
but that doesn't prevent me from see
ing the need for steel which the de-
mand for these cars will create. In
few years you won't find a railroad of
any Importance in the country using
anything but steel freight cars"
Next to steel cars, the biggest de-
mand for steel is for steel rails. The
contracts already made for steel rails
are far and away heavier than were
ever placed before in this country. 1t
is estimated that within the last
month over 100000 tons have been con-
tracted 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 is known that,
thus far, contracts have been let, or
will soon be let, for the building of
between 1000 and 1000 miles of new
road in 1900.
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