Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1899-03-23
Conditions That Prevailed Dur
ing the Week.
RANGE OF PRICES HIGHER
Many of the Contemplated TT usts Have
Failed to Materialize--The
Price of Copper,

New York, March 23.-In its review Of
trade conditions the Iron Age says: In
nearly all branches of the iron and steel
trades a relatively small, but urgent, de-
inand for prompt delivery is making fur
lher advances imperative. Belated buy
ers are putting prices upon themselves.
n scarcity of material in some lines
reaches the character of a famine. and
there are many who predict a further rise.
still, after all. this does not touch the
burning question at what prices new con-
tracts will be made to replace those ex-
piring in the second and third quarters.
AT what level will buyers be forced to
take hold again? There are a number of
We'll authenticated cases in which pur-
chases for the second half have been
made at prices pretty close to those now
ruling. Blu it is a fact tina many buy
ers are inclined to await developments.
This involves one great risk, and hat is
that no disturbances occur in any one
of the chain of links from the ore in the
ground to the finished material. 1t must
not be forgotten that there is a tremen-
dous strain upon the facilities for min
ing. the transportation and the different
A1S'A 1CL lilly 1 L
cur to cause trouble, delay or suspension,
and the whole industry is d~isorganized.
n weather during the last month fur
nished a good illustration of this, al
though it would be ordinarily a very I'M
important factor.
In pig iron the market is uuieter. all
though still very firm, with an upward
tendency. Charcoal iron has been Jump
ing lately. In BesSemer pig there has
been a halt. The railmakers have again
advanced prices in the west. 1t is of in
terest to know in this connection that the
youngstown plant of the National Steel
company will. it is expected, be in a posi-
ton to roll rails in July.
Advances in finished iron and steel have
been altogether too frequent and general
to enulnerate, but prices vary widely &C.
cording to time of delivery. In some
branches there are still laggards in the
matter of advancing prices. A recent let
ting of about 1000 tons of bridge work in
the west disclosed one bid a little over
half a cent per pound below four other
bidders. Very little is being done in the
direction Of export orders.
Report has it that the mission of John
w. Gates of the American Steel n Wire
company in Europe is to arrang for an
International agreement in prices for the
principal wire products.
Some of the consultations, upon which
much work has been done, show a ten
dency toward tagging as the time for final
settlement approaches. The fact is that
it is far more difficult now than it has
been to get banking firms to participate
IN underwriting s~yndicates. The capacity
for absorption of new industrial issues
seems to be falling somewhat, and a more
critical spirit is revealed. This does not.
of course, mean that really meritorious
undertakings do not find all the financial
backing needed, but the time seems
passed When "everything goes"
The advance in raw materials is now
beginning to tell on the prices of a long
line of more highly finished goods as the
time approaches when supplies cheaply
|, bought are being exhausted. The possess
sion of material purchased months since
has been too tempting a lever for secur-
ing usiness to avoid a good deal of ir-
regularity in prices, natural in many
cases because manufacturers did not be-
lievc in the perlmanence of higher prices
for metals. That feeling is wearing off,
and with a greater volume of work man.
ufacturerS in many lines are raising
prices with a more substantial argument
to back them than higher cost of raw
materials, which did not really directly
affect them so far as actual purchases
We're concerned. Thus there is a tenden-
cy to ask more renunerative prices in
many branches of the machinery and
supply trades. AS an instance how the
feeling has changed, we may note the
fact that one of the largest jObbing fOun-
dries in the east, if not in the country,
has withdrawn all quotations, an exam
pie which it is likley other concerns will
be glad to follow.
In the metal trade, copper has shown a
declining tendency, lake being close to II
cents. Prices abroad have been receding,
are now so far below our parity that
export sales are practically stopped, the
current shipments being on old contracts.
This means that soon a large proportion
Of our supply will be available to cover
our home consumption, which certainly
has not expanded in so great a degree.
When present contracts with much lower
prices begin to expire, the situation will
become much clearer. In tin plate a
number of important orders have gone to
the other side, not alone for drawback
plates, but also for actual consumption.
The Pacific coast is, of course, most eX-
posed in this regard.
In some branches of the iron and metal
trades our rapid advances bring up the
question whether it may not pay to re-
import material duty free, which may be
done if the goods return in the original
packages.