Crawford avalanche. (Grayling, Mich.) 1879-19??, 1899-09-21
SUPPLY AND DEMAND
ONE or THE DRAWBACKS or
EXCEPTIONAL PROSPERITY.


tainly not In any other country. Here
we have every iron and steel producing
plant In the United States working to
its utmost capacity. and yet there ID q
big shortage In the supply, so great Is
the demand In the many lines OF con-
struction. Because Of the inability or
the mills to I'LL orders, or even to meet
the time requirements Of contracts al
ready entered into, we are told by the
New York Herald that In New York
the structural work upon many big
office buildings is at a standstill, and
public schools that were to have been
opened for the fall term Will re-
main uncompleted; In Philadelphia
work upon warships for foreign powers
is at a halt; in the West the agricultural
implement makers are at their wits
ends for material and are renewing
their demands for steel for next years
delivery, and from every section con-
tractors and builders are calling for I'm
possible thirty and sixty day deliveries
Of mill products
The shortage in structural material,
Says tuG I1cIdAO, 10 ~ Del iOdo thAh SOA%
tractors are vainly Offering bonuses to
the manufacturers to push their work.
1t is but short time since structural
iron and steel were advanced So ton,
and 1t is predicted that there Will be
another increase within few days. Ac-
cordlng to the experts, the railroads are
the most seriously affected by this re-
markable state Of the iron and steel
market, and already American agents
are at work In the English market OBJ
tanning options upon Scotch steel The
demand for mill products Is increasing
daily, and these who are responsible
for the supply frankly admit that they
are unable to cope with the abnormal
situation. Contractors and builders are
growing desperate and are daily beg
ging those who hold them in bond to
release them from obligations the fulfil
ment Of which has been made impossi-
bic by conditions for which they are
not responsible
From Chicago II is reported that rail-
road tonnage is on a scale never before
equaled, and is still mounting higher.
AS for the iron aud steel trade, the ex-
ports for June actually fell of owing
to the great home demand. The dOmes-
tic requirement was so enormous that
material could not be spared for foreign
shipment.
The demand has caused the resurrec-
ton Of mills believed to be dead. Old
plants that have been idle for years,
chiefly from competitive causes, have
been reopened and put in operation.
II a manufacturer wants material
three months hence he must buy now
and pay the prices that are current.
The clamor for materials is In no way
relieved. There have been large sales
of pig iron for delivery in 1900. Iron
bars cannot be bought under four
months delivery from the mill.
Vessel owners Of Chicago having suit
able bottoms for the transportation of
iron and steel cannot fill orders. Two
years ago prices were AZ to 80 cents a
ton for the haul from Lake Superior, to
Lake Erie. Now the rate for ore from
Duluth to Lake Erie is $1.3O ton, and
will 60 higher.
In Philadelphia the big shipyards,
Notwithstanding the boom In their in
dustry, have been compelled to lay off
hundreds of men because Of delay in
the arrival Of material. Extensive
building operations have been halted
and others abandoned. Charles Nc
Caul said: "To my knowledge certain
big building concerns within the last
few days have tried to contract with
local companies for structural steel, to
be delivered q year from now at pre-
vailiDg prices. The proposals were re-
fused"
The Phoenix Bridge Company Is liza
BILE to penalty Of $50 per day for fail
ure to complete the big bridge over the
Schuylkill River at Gray's Ferry. The
delay Is due to the steel famine. The
director of public works has decided
not to enforce the penalty.
Pittsburg manufacturers Of iron and
steel say they see no relief for New
York contractors. The demand Is so
far ahead of the output that it will take
many months for the trade to catch up.
The Carnegie Steel Company, 1t is said,
will not take orders for structural steel
for delivery under twelve months. Last
week $3S ton was paid for billets
Two years ago the price was $14. The
pig iron manufacturers will not quote
prices for delivery this year.
The iron and steel industry, 1t will be
remembered, Is projections biggest and
healthiest child. 1t is an industry which
free traders twenty-five or thirty years
ago declared could not be built up by n
protective tariff. Yet to-day the. Uni
ted States leads the world In the pro-
duction of iron and steel. Big as the
industry has become, 1t is not able to
supply the requirements of the great
home market In these times of McKin-
ley prosperity. AS an index Of the gen.
eral conditions that have grown out of
the restoration of the American policy
the iron and steel situation is interest.
ing and instructive.
Democracy md Trusts.
Protection is Republican policy, the
Democrats have formed the habit of
denouncing it, and they think they
must keep 1t up, with or without reason
and sense. And so, with the splendid
record Of protection staring them In the
face and being unable to point to a
single fact that is not to its credit thew