The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-05-25
IRON AT A PREMIUM.
a Bonus Paid by Buyers For Early
Delivery

New York. May 25--Discussing trade
conditions. the Iron Age says today;
The market is getting into more and
more excited condition and the scarcity
of material is even more pronouuced
than it has been Prices are Irregular
in this respect. that they vary within
considerable limits. early believers,
commanding a considerable premium
whose magnitude depends upon the cir
cumstances governing each individual
case
Large interests have been coming
forward requirements to an extent
which reflects both their confidence IN
the future and the fact that they are
swelling their order books Last week
a leading interest in the central west
bought 1900 tons of pig iron, but. on
the other hand, another large conSolId-
alton withdrew from the market an in
quiry for about $4,000 tons Since then
the market has advanced sharply. and
today the Bessemer association IS to
FIX a new price. which it is generally
expected. Will be SIS at Valley furnace
II Is estimated that the furnace IN the
association can only offer for sale, at
the most. for this years delivery be-
tween $4,000 and $4,000 tons
In the east there have been sales of
basic pig iron 10 the extent Of about
10000 tons at close SIS. delivered IN
Chicago the Republic Iron and Steel
company has purchased large lots of
Grey forge pig iron for their different
plants. and have also closed for about
$4,000 tons Of sheet btlIets at private
terms.
Some of the southern furnaces have
sold large blocks of mill irons and have
also taken considerable business in
basic pig for eastern and western mar
kets-
Some reference has been made to
efforts to release sales of foundry irons
made some time since for export by the
payment of a premium This has been
done to some extent, but the quaint
ties involved can not affect the SItua-
ton There is some talk. too. of fOuu-
ders selling iron due to them, more
profitable than turning it into goods
The preparations to blow in furnaces
continue but are much hampered by
difficulties in securing supplies OF ore
and coke, and by delays in delivering
equipment needed and material for re-
pairs Many of them are even now sold
for months following the time set for
the beginning of operations Still the
increase must tell, unless consumption
keeps up at the present rate How
much the melting has grown is clearly
shown by the statistics prepared by
Rogers, Brown & Co Reports are be-
ginning to crop up concerning the sus-
pension OF enterprises through the "a pid
rise in iron and steel We have investi-
gated one important line. that relating
10 structural material for bridges and
buildings, and find that while num-
Der OF Instances are cited. the majority
OF the construction shops have not met
with such experiences
The great steel works and rolling
AL44lAS aA = CLOWOGQ Win WOEk Wen INTO
the closing months Of this year. and in
their sales have discounted the addi-
lions to plants now under way
The really serious question is to
what extent and at what prices BUYERS
who are now working up cheap material
viii come into the market The rapid
rise is naturally causing uneasiness
since a. sharp reaction might lead to
cancellations and to Withholding Of
specifications by those who being be-
lated. purchased largely at prices re-
Gently prevailing AS yet. of course
there is not the slightest indication Of
that.
The eastern bar iron manufacturers
will probably not undertake a CONSOLE
dation- The pipe consolidation viii be
ready for the public in a few days.