Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-03-16
METAL MARKETS RUSHING.
Options On TIN Plate aud shee, MN.
Organization OF the East
pipe Consolidation.

New York. March iG--rhc Iron ARc.
In itu review Of trade conditions says.
TN all the leading distributing ccn-
tors. the Iron and steel interests are
excited and advances are being made
with bcwiidcfinE rapdlty. The demand
Keeps IN surprisingly well and for
prompt ana early delivery Il II not a
question OF price. but simply matter
OF obtaining the material. atill. indica-
lions are cropping up that the price IL
too fast and Instances hav" come tn our
notice repeatedly n late OF work which
IN being delayed or postponed because
prices are regarded NJ too high. Such
eases are lnaola,cd Atlll and do not cut
amy figure when compared with the
urgency Of the demand from any quar-
tiers.
"a further sharp advance has been
made In pix Iron all along the line. In
Guiding special grades. In tho central
west some large blocks OF Bcrncmcr
pig may be offered by the association
20 an early date. In the east there have
been large sales 81 low PHOSPHORUS
Iron and ~ basic pig.
Steel has rushed M Co 1880 and
We IN the east ana close To the same
figures In the central west but IN.
tude
Prices Of finished material have been
sharply advanced. Sheets. bars. pipe,
structural material and wire and wire
nails are higher and yet the market
II kept clear. The fact IL that large
orders keep cropping ~ for products
Of all kinds. In one day n tidewater
shipynrd had Inquiries for eleven
large steamers and could no, accept
single one.
Occasionally facts come 10 the sur
face which seem tn inyalidntc the com
clurion that We ar- cutting on our cx-
port trade completely. Among these
We may note the sale Of about Q 600
tons Of merchant pipe by tho National
Tube Works In South Africa. or the
contract taken by the pennsyivnnin
fteel company for the great 0rogtiek
vinduct IN Iiurinnh which In 10 be over
go feet hiFh. and VIII call Tor about
5000 tons of material.
AS against this we note that this
week an order Tor about 5000 tons OF
cast iron pipe for iluenoH Ayres was
lost by the American bidders. an
English concern taking the order at
twelve cents. per ton less than the
American hid.
I'm consolidation matters little that
IL new has cropped M. II IL under
stood that the option 10 take the ore 81
the Oliver Interest on "a sliding scale
arrangement continues open 10 the
National Steel company until the re-
turn OF ~, W. oliver from the Antilles.
Tn. National Steel company has nc
duired the Thomas furnace at Niles
and IN negotiating for other furnaces.
1T looks M though the close rcln-
lions necessary between the Tin plate
interests ana the steel mills would be
established. options on the plants mr..
now being obtained and an orgnnixa-
tiOn may he perfected In few weeks
''rhc reports Of the sale Of the Ash
land plant 10 the American Steel A.
Wire company are decidedly prcma-
turc. TO put II mildly. II IL Understood
that an option has been obtained on the
splendid plant ~ the riverside works
Of Wheeling by those who are working
on tho pipe consolidation.
"The organization ~ the cast pine
consolidation II 20 BE- effected this
week"