The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-02-23
BAROMETER or TRADE
IRON AND STEEL MARKETS INDI-
CATE HEALTHY CONDITIONS
IN ALL LINES
PRICES ADVANCE IN LEAPS
Substantial Advance. in Bessemcr
Pig in the Central West
Foundry Iron, Market Stiff
Prompt steel Almost a Famine
Steel Railsac, Show Another Adj
% svaace--Briage Builders Pool.

NEW YORK, Feb PIN It's review Of
trade conditions. the Iron Age will have the
following to say under date of Thursday:
''saThereais an incpea sing excitement In the
iron trade and prices are now advancing in
leaps and bounds. Continued heavy require
m mel are coming into the market. both for
or the great producers are in a congested
conoitlon and instances are quoted of great
pants which are practically sold out until
Octooer. A growing disposition is observed
10 Try to cover for much Of the second
hat as IS possible --s
Bes'emer pig in the Central West has been
advanced 81 per ton. and is now 49, Valley
furnaces. 1t Is reported that a large con-
cern purchased about $4,000 tons in the open
market for plant in the Cleveland district,
needing Its own iron at the home plant. Be,
yond this the volume of business in thia
prancn mas been small. Quite large de-
mand has developed however, in the Central
west for basic pig, chiefly for the second
mar One concern is In the market for about
10000 tons.
In foundry iron the market is very stiff
me furnaces In Eastern Pennsylvania have
made good sales, while Southern concerns
have again sold largely for export the ag-
gregate being $4,000 tons, of which 10000 tons
was basic pig. .
For prompt steel there is almost famine,
and as high as 81 has been paid at Cleve-
laEd and S22 and upward in the East. The
volume OF business, however, is. smaller.
WIRE rods are not to be had at any price,
Its own requirements.
-. Steel rails in the East have advanced to
S22 under fair business. The price has now
reached, a point where we are no longer
under the parity of the worlds markets and
must surrender the export trade unless will
ing TO sell at a concession or unless the
foreign prices advance 1t looks as though
an order for 1900 tons for China would go
abroad.
In the plate trade the pressure continues
undated. The Carnegie company has entered
fO fur
nlsn the pressed steel company with its plates
etc, the quantity involved, when present
plans have matured, being from 900 to 1 LOCO
tons per day. The Carnegie company with
draws from the contemplated car building
enterprise. The contract for the towers and
shore spans of the new East river bridge
goes 70 the New Jersey Steel and Iron com,
pany, ana the material probably to Pitts
burg The quantity involved is about - 900
tons, tSo tons being plates; The require
made by the pig and ore process, greatly
the cost. =
In Chicago, orders calling for about 900
tors OF structural material have been placed
and 1000 tons of bridge work is pending.
1t appears that progress is being made
with bridge builders pool, which j. P. Nor
the leading builders of railroad bridges, high
way bridges and buildings. 1t is understood
that those interested in a number of large
plants are active in the work.
The first skirnishes between the cast iron
pipe consolidation and the outside shops In
Eastern territory have taken place Quite
fair tonnage of work is coming out Con
tlnued efforts are being made to get the
manufacturers Of stee! pipe together, the CON
soi1dation to be carried through under the
auspices of J. P. Morgan & Co.
Although at an early date the subscrip-
IONS are due by the underwriters of the Ma
tional Steel company. it is not yet definitely
settled whether the Oliver ore interests will
be included 49," :.
1.-The sheet makers are to have nneetin o
in Pittsburg at an early date and the West
ern bar iron manufacturers are In session
put nothing has yet been announced as to
the result Of their deliberations
The principal item Of interest in the metal
trade Is further advance in the price of
tin plate OF % cents per box. Speiter has con-
tinued Its extraordinary rise Copper is very
dull at shade under 1Sc, price at which
every consumer will restrict his purchases,
to the minimum, while every producer strains
every means to get out more metal -