Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-10-05
DEMAND IN FOUNDRY IRON,
Continues Heavy, with Producers Unable TO
FIJI Orders Promptly.
steel MARKET n Little uIxed-uut the
Prices aud Prospects Keep Mt
tho Top Notch.

New York. oct 5.-Rovlcwing the alt
uatlon In the iron and metal trade. the
Iron Age Will say today.
Interest continues to center In the pig
Iron market IN which there 10 nccumu-
lating evidence OF the fact that the en-
tire productup to the summer u 1900 will
be urgently noticed. The event of the
week has been the purchase hy the
leading Chicago interest Of about 100.
600 tons Of Bcsscmcr pig In the Val
loy'n and elsewhere for delivery during
the nrst holf OF 1900 IN addition 10
these sales "a leading interest In Pitts.
burg has taken $1,000 tons delivered to
bogin nt once md o. Valley plant has
contracted Tor 10000 tons Tor the nfst
half Altogether nt least $4,000 tons
have been sold ln the central west dur
ing the paHi week.
In foundry IRONS the demand contln-
ues quite active and while occasionally
new Irons are seeking buyers FOR fu-
ture delivery 10 some concession the
market u strong, for the whole Of the
elk months OF 1900. Producers arr quite
generally behind IN deliveries and tho
scarcity N spot iron continues
u W hoped, however. that during the
be able 10 catch up There II u report
that some southern iron ~ being offered.
To be- returned from England II looks
M though the reports Of sales Of Eng
ilsh low phosphorus pig had been cx-
agEerutcd. ~ FAR ua their magnitude IL
concerned. Well Informed parties In
the trade nro unable 10 trace more than
about 5000 tons. We note sale 81
5000 tons of eastern low phosphorus
pig At t2615 at fuEnncc.
The steel situation ~ rather pcrploN-
Ing. one very large consuming interest
has been forced 10 lay idle number
N plants, and u reported 10 be draw
Ink quite heavily on stocks Of manu-
featured goods This " rcputpd to be
partly due to slow deliveries Of steel
contracted Tor. II Il the impression In
the trade that large consuming inter
cata have contracted Tor blilcts for next
years delivery Co an extent Tar greater
than n generally supposed. Report has
10 that two recent contracts call FOR
close 60 100000 tons. The price basis
Tor good deal Of the stool being COM
tfnctCd for next year lH about tli
This ~ In line with what N being
done IN steel rails Last week the max
crs had conference IN this city. the
result Of which was $50 east, and west
~ being named on orders Tor next
year.
II II estimated that total tonnage al
way NNNhNA ANN WfAl NtNN ~ ABOUT
10000 tons, about equally divided be-
tween eastern and western mills, This
Includes some recent western orders,
among which may De- mentioned 10000
tons for the Chicago, burlington aud
quincy and 20 900 tons Tor the 81. Paul
railroad. The great trunk lines east
N Chicago have a. yet placed no or
dorH nor have the majority of the rail-
roads arranged Tor their requirements.
Negotiations with the Pennsylvania
and other large systems are now pro-
ceedlng. however.
In other directions, too, the railroad
domnnl continues TO absorb large guam
titles of bars and car material The
Illinois steel company denies that II has
entered into contract with the Pressed
Steel company FOR 900 tons plates per
day.
While In large lines n fair part of the
1900 requirements are being placed, tho
reports come from the smaller trade
that the present prices are causing some
hcsitancy In buying for the future. II
seems that many are beginning TO feel
that II Is the best policy 10 await de-
Nclopmcuta.