Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1899-10-19
THE IRON MARKET
Business Is In a Most PuZ-
Zling Condition.
GREAT ~AGGRESSIVENESS
Shown be the Large Interests--Large
Sales of Bessemer Pig Reported
standard Steel Rails Will Soon
be Advanced in Price.

New York, Octo. 19.-Discussing the
condition of the iron and metal trade,
the iron Age today will say: Conditions
in the IRON and metal trade are becom-
ing more and more puzzling. While as
sertionS as to the adverse effect of high
prices on consumers are growing more
numerous and there is more talk of fur
Their advances. large interests are as
Stunning an attitude of greater aggressive
ness. The highly interesting movements
in the vessel transportation on the lakes
are complex, but find their explanation
in the effort on the part of large con-
sumers of ore to keep doWn lake rates,
while the ship owners are trying to es-
tablish a high figure in order to make it
apply on other contracts. Charters for
a heavy tonnage for the 1900 season have
been made at $1.1O and 81 .25. and discus
sions as to ore prices are being heard.
A rise from the $2.6 basis this year to IS
and $3.50 is spoken Of.
Apparently little has been lone to in
fuence coke for the first half year., but
a higher figure is spoken of for the Sec
ond half. In Bessemer pig there have
been two sales. aggregatng 10000 tons,
This does not include a 81, 1000 ton furnace
contract in the northwest. One block of
so, 900 tons of billets was placed for de-
livery during the first half. The attitude
Of the principal producers will probably
be defined at an early date and an i'm
portant conference is talked of. In some
of the finished lines very large require
ments for 1900 are under consideration
Thus the largest consuming interest of
merchant pipe is said to have placed a
very large order and is now negotiating
for the skelp for a part of it, the quantity
of the latter figuring up to about $4,000
tons. the greater part Of it steel.
The announcement has been unofi-
cially made that dating from Saturday
standard steel rails are to be advanced
from 1913 to $35 at the mill by makers
for any orders entered after that date
for 1899 or 1900 delivery. There is good
reason to believe that this is the case. 1t
is understood that some very good orders
have again been placed lately and a large
tonnage will be entered during the next
few days. Report has it that the in
| quiries now on the market aggregate
225, 0OG tons. The wire interest has made
a further advance of SO per net ton or
Wire and or nail. Reports are current
that structural material is to be brought
into line. 1t will be observed, therefore
that all the great. interests are commit
ting themselves to a rise, at least fol
the first half. 1t would be idle to deny
that the conservative element in the trade
deplored this tendency, since it increases
the danger of a check and threatens tt
make the inevitable decline when it does
come more abrupt and demoraliZing
The prospects of the Export trade have
been further darkened by the rise il
ocean freights. due to the withdrawal
of many vessels into carrying of mer
and supplies for South Africa. In thu
metal trades the principal event is thu
weakening in lake copper and the easing
off of fin.