The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-09-08

This will cause a slight loosenng up in
prices and the tendency then will be for
those on the outside to hold off for low
cr prices on pig iron they want. He
looks for this to cause a sudden slump
in prices that will only be strength
encd when the smaller manufacturers
Clamor after the metal.
Many of the firms. many of them
large. were deceived in the present pros
porous wave and failed to make pur-
Chases large enough OF early enough. In
fact. all have been deceived as to the
extent of the high prices. and there Is
a certain timidity and strain with re-
gard to the time when the gradual de-
cline begins All are looking for it ana
no one wants to be tied up with large
purchases. at high prices, to find at
the time of delivery that they could Sc
cure the metal for many dollars less.
Some manufacturers firmly believe that
this strain will be relieved within u
year All cOncede. however, that good
times are ahead of Pittsburg for sew
eral years yet. and that the benefit Will
last for many more in keeping up an
products
Some few manufacturers look for
the starting of the great LOrain furn-
aces and many other giants that are
building to bring the capacity up to
the demand and thus loosen prices.
There are just as many who combat
this view and say that the increased
capacity will make no perceptihle in
road into the demand for some months.
Every manufacturer is striving to OBJ
tain the views of his neighbor, and
thus arrive at a composite prophecy
but so far the opinions have been eX-
pressed in doubt and gave no clear con-
ccption of the real situation.
SECURING FOR SCRAP IRON.
such a securing of the country for
scrap iron as is going on at present
was probably never before known. Dur
ing the past year prices for all kinds
Of scrap have shot steadily skyward.
until they have in almost all cases
doubled. Every source of supply is
watched carefully by dealers. and new
ones. heretofore not considered, have
been found and made to give UP their
quota. Refuse heaps. containing bits
Of iron scraps in ever so small or large
quantities. have been raked over by
the wagon vendors and CLEANED thor
oughly for material, which can be
| turned into the furnace. 1t is said that
even the rivers. in the spots where ola
boat wreckaGc and refuse has collected
have been dragged to give up their por-
tion. The brokers now watch with Il
keen competitive interest any likely
source of supply in the way of a dis
| mantled shop or mill, and make the
| bidding for the scrap iron and steel
| thus resulting very lively.
"Old mills as a source of supply, are
| becoming very scarce, however, for
| nearly all such. whore at all feasible,
| have been rcfitted and put in operatian.
| In the country districts are many old
| mills, abandoned wears ago, which were
! bought by the city dealers before tho
| present rise started and allowed tO
stand. These are now being torn down
and the old iron shipped to the Pitts.
| burg mills and scrap yards as fast as
the work can be done. The blacksmith
| shops furnish a considerable quantity
of scrap. mostly Of the bushcling var
! iety, and nearly all Of them have yearly
contracts with the smelling mills direct
20 take their refuse.
! RAILROADS GREAT SUPPLIERS
THE great preponderance ol the
scrap iron supply, however, comes from
the railroads. This is naturally so, fol
the railroad business is of such wear
ing kind that worn out pieces accumu.
late at an astonishing rate. Years age
the railway companies found this 4
! large item i'm their assets if properly
! looked after, and they now conduct the
! business in a most systematic manner
| Each month brokers and mill owners
| receive a statCmen. from the railroad
| companies of the amount Of scrap or
hand, divided INTO its various classes
and inviting bids for the purchase Of It
| There are a number of old established
| brokerage firms in PttsburG that dea
in nothing else but railroad scrap. Tho
! railroad yards are rapidly heinl
stripped of all refuse iron and steel cr
account of the recent heavy demand ful
it.
"As before stated, prices on all grades
of scrap iron are about double wha
| lH"N Nel" phe Scdl dSp' Inc i'lV'Nflh
figures. which are official for the weel
ending last Saturday. were said h!
brokers yesterday to have been In
creased on an average of 81 a ton al
around. New melting scrap Sl55O6
$500 per ton of 2,24O pounds old stee
rails. six feet ard longer, S1G.50617.0
per ton Of 2,2iG pounds; old steel rails
short pieces, including frogs, switChe
and turnOuts $l5.75-l600 per ton OF 9
2iO pounds; old scrap iron rails $2100G
$1,000 per ton of 2,2lO pounds; wrough
iron scrap, Nc. !, Sl5.5Odl2,OO pet ne
ton; busheling scrap, S11G12.OO per lie
ton; wrought iron turning, S1o5od11.5
per net ton; cast iron borings, $4,000
$3.50 per net ton old car wheels, s16. .
Q1650 gross: cast scrap, SIG 0OQ16.5 5