The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-11-30
Advance for Lake Ores WINS Larger
Than Was Expected.

Than Was Expected.
New York, November 29.--Discussing
the condition of the iron and metal trades
the Iron Age says: The event OF the week
has been the announcement on ~
the miners of Lake Bessemer ores of their
prices for the season of 1ao0-190l The
figure decided upon $3.50 at lower lake
ports for the Norrie grade compared with
$3.50 last year, represents an advance
rather larger than was expected. This is
equal to an advance in the cost of Besse-
mer pig iron of about $5.25 per ton for ore
alone. To this must be added the in
creased cots of coke--at leas 81 per ton
of iron, of labor, and OF rail freight o.
raw materials from receiving ports aud
from coke ovens. Thus. the coks ireights
have been Just advanced 10 censt per ton
and a rise in rail ore freights is also i'm
mnent. All this, of course, means That
finished goods VIII be considerably higher,
although the full eject viii not be felt
until the new ore begins to appear in the
mixtures. 1t is figured roughly that the
cost of making Bessemer pig In the valleys
will next year be no less than Sli TO $40
per ton for those who must purchase all
their raw material in the open market.
OF course, 1t is true that only compare
lively small percentage of the bessemer
pig made IN the Central West is produceu
by concerns so situated. All the large
companies, with very few exceptions, ana
many of the smaller ones control part OF
! all of their own ore and fuel and there
I fore the costs are less by amounts vary
I ing With the conditions affecting each par
/ tieuar concern But If the demand Is
/ large enough TO require even moderate
| quantity of metal turned out by wna'
| might be called outside" furnaces, theif
! cost marks the possible attainanie mini
! mum OF price up to June /, 1901. OF gen
eral interest is the announcement that tnt
non Bessemer ores are selling on the basis
| of $425 al lower lake ports. or, say,
! cents per unit To makers of basic ano
| foundry grades this means an advance
very close 10 that of the producers o.
Bessemer pig and fxes corresponding
minimum for the sencond half of 1900 ant
the first half OF 1901.
The prices for lake ores open extensive
opportunities for active mining for th'
deposits east o fthe Allegheny mountains
and 1t seems probable that, for instance
Lake Champlain ores will go IN very con
siderable quantities into the Plttspurs
| and Cleveland districts.
Foreign ores, 1t would seem. VIII nav
much bette opportunities. Ihus we rear
| that pIllinG a. crane OF IAlIauS'PA." 49,,
during the past week sold for spring de
liyerv between $4,000 and 100000 tons o
New Foundland ore to nine different con
Germs in the Eastern Pennsylvania dis
tricts at 1-2 cents per unit, free OF
board ears at philadelphia,
To the makers of pig iron in virgins
Tennessee, Georgia and Alabama the es
Enlistment Of the prices for lake ores an
coke holds out the promise of year 9
good profits. because the majority OF tneI
control their own supplies III the PISS
they have suffered in competition with IN
Central West from the fact that prices
lake ores We're down to low lever ana d
other costs were en- starvation OASIS. l.
them relatively a much larger margin
,.nened. since the Offset to them Is only III
: Increased cost of labor and the adYane
, in rates of freight on products to MARIE
The lake Superior ore mining interest,"
did not this year in the least snare u
nrosperity of the iron trade. The have d'
D tarmined to participate in the prohts
e the season of 190O-19ol and are sure
6 succeed. The blowing out OF furns'
: is expected to bring large interest
tho Central West into the Bessemer p'
iron market .,
: In steel the only feature OF interest
: tho anpearance OF a number OF large II
d ouiries in the Eastern markets :,
e formerl, doc w-aboutf, -cz,w shdriu ra'