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

The Unprecedented demand for iron
and steel and the record breaking
prices being obtained, which so many
men have looked upon as an abnormal
bubble, are to continue for a long and
indefinite period in the opinion of far
seeing Pittsburg manufacturers, says
the Pittsburg Times, Even higher
prices for pig iron are expected, as
the demand So far has simply
paralyzed the supply. Not Il pound Of
iron is being sold for present delir-
cry. and eXhorbitant prices are being
received for tonnage for deliveries il
the first three and six months in next
year.
Some men fear. however that the
putting into blast of many new blast
furnaces of mOnstrous size. together
with an easing off i'm the demand. will
bring sharp slump within twelve
months. and one Of the best iron brok~
crs in this country is said to have
offered to sell an unlimited tonnage Of
pig iron to be delivered i'm two years
at $22 ton. Many other manufact-
urcrs. however believe that the high
prices and steady demand will last fo"
at least two years and that prices
last year. In every view Of the case
there appears to be nothing but good
news ana steady work at living wages
for the thousands of workmen in
Pittsburg and in the iron district of
Western Pennsylvania for several
years to come
HE SEES NO CLOUD.
Willis L. EinG. general manager Of
ioncs & Laughlins limited. who was
me of the first to see the unpreCe-
dcnted boom and who made purchases
into the hundreds of thousands of tons
at $40 and in that neighborhood last
December. declares that he as yet sees
no cloud i'm the skys that portents
trouble. There is nothing in the situ-
ation," said he, that can see that
gives any indication of a falling off
in the demand and prices will, in my
opinion, so higher before they go lower.
OF course. pig iron is now selling for
100 per cent. more than it was at its
lowest price and sales for deliveries
next year are being made at s23.5O and
S23.75 ton, and it is certain the de-
mand will not keep up forever. But
the demand is healthy. there is an
doubtless keep up for long time.
1T is probable that when the de-
mand for pig iron falls off the smaller
furnaces will be- the ones to close down.
hut ii is now far from any indication
of this stage. The export business will
he looked after when the domestic con-
sumption becomes lighter and it will
probably care for great share of the
surplus product. cannot see Hny
farther into a milestone than any one
else, and cannot make prophcsies FOR
the future. Ne one can tell exactly
what the future is going to bring forth
but it is very bright now and not a
cloud appears to excite alarm. | think
prices will be maintained for a lOna
time. Early in the year many hal
no idea that prices were going to 30
so high and they failed to get thell
supply Of pig iron, but this does not
apply to the large manufacturing com.
paniCs,
mo one can get all he wants now
/ think prices for iron ore will be muc'
lighter next year than they are now
They have been very low this season
This will assist in maintaining prices
and when the decline begin it vii
prohably ease off very gradually, be
cause Of the heavy export demand
There seems to be every indication o
long-continued good times"
LOOK FOR a LOOSENING UP.
zone manufactures who because o
the scarcity of scrap iron, has bee,
compelled TO make scrap of a larg
amount of obsolete finished product
believes tnat a change will come With,
twelve months He figures it out tina
it will not be a great while before In
large steel companies, like the Carnegi
steel Company, limited; Federal Stae
company, Jones q LauEhlins. limited
and National Steel company, whic
have their own furnaces, ore mine.
railroads and plants complete, wi
have the capacity to meet their owI
demands and that their purchases vii
then be withdrawn from the market