Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1899-08-17
Demand Is Too Great For
the Production.
THE FOREIGN MARKET
Is Making an Effort to Get Supplies
From This C0unlry--Orders Now
. Sent in Can Not be Filled Until
Some Time Next Year.

New York, Aug. lin it's review of
trade conditions the Iron Age today will
present additional evidences of the ex-
traordinary production and price move
ment whose maintenance is so marvel
Gus. 1t will say: The iron markets have
gained in strength and the feeling is
growing rapidly in the trade that the next
year will be one of exceptional prosper
ity. all doubts as to the maintenance of
the present prices for the balance of this
year being dispelled of, indeed higher fig
ures will not nave to be paid in some
lines to secure prompt delivery. What
everybody is watching for with the keen
est interest is for evidence that present
values are checking consumption. 1t
would be idle to deny that instances Of
this character do not crop up, but it is
noticed, too, that often those who pro-
test most loudly, quietly buy later on.
While it may seem premature to discuss
1900, it is a fact that makers are deeply
Interested in the problem of what course
to pursue, and that an increasing ton
mage of sales is finding it's way into the
order books. 1t is not so long since that
the leading men in the industry had APP
parently settled down to the conviction
that $25 for steel billets and about $26 for
steel rails would be a satisfactory basis
for 1900. from the standpoint of the maxi
ers as to fair profits with the assurance
of a full consumption. 1t looks now as
though the figure will be considerably
higher. AS a pointer in that direction
some the reports of purchases in the west
of 49, 900 tons of steel rails to the Chicago
& Northwestern, and 10000 tons to the
Rock Island road at $29 for 1900 delivery.
These reports are not officially confirmed,
it being represented that the western rail
interests want $31. So much seems GER
tain, however, that the basis Of negotia-
tions is much higher than was consid
cred possible only a short time since.
1t is certain that in certain lines, nOta-
bly, in pig iron, the engagements for 1900
have already been heavy. One southern
interest is reported to have over $50, 0OO
tons on it's books, while a third interest,
controlling a very important industry,
has orders for over 200. 900 tons of mater
ial secured. lit must not be forgotten,
either, that a good deal of tonnage which
cannot be delivered in lime will be car
ried into next year. In steel rails alone
this is variously estimated at 400, 900 tc
500, 900 tons. There has been a good deal
of talk of purchases of steel in Europe
for shipment to this country. 1t is true
that large inquiries are in the market, but
it is difficult to see how the business can
be put through. Steel billets, ex-ship,
would cost at least &c los, and adding
the duty of $S.96, the cost would be about
SAL so, which is out of the question, ex-
cept for manufacturing in bond or ex-
port, under dra wback arrangements. We
have not learned hat anything of this
kind has been done. On the other hand
we know of one case in which negotia'
tions are pending for the sale of 25.OO(
tons of American material to go to Eu-
rope to relieve the extraordinary scarcity
there.
An interesting incident is the capture
by the Pencoyd Iron works of orders fol
As double track lattice girder spans and Il
single track ~pin-connected spans for the
imperial government railways of Japan
The order calls for about 1000 net tons OF
material for delivery during the middle
of next year. That the prospect of pay
ing higher prices is not soaring capital
lists is shown by the report that j. j. Hi
is considering building Is steamers OF
5000 to 10, 900 tons each for a new Paclh<
/ limo