The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-01-26
STEEL ADVANCING.
Prices Withdrawn by Manufac.
turcrs to Check Buying,
BUT THE DEMAND KEEPS GOOD
Consumption ofrig Iron Exceeds Out
put and Values go up--Tlc Tanners
Holding Leather More Firmly.
Observation-Disclosures 1893 and
Stocks on Hand--GrneraI. Trade
In the Vest.

shh hhcib tbt. #.. ~
Chicago Inter-Ocean: Phenomenal
activity in the iron AMI steel trade con-
tinues. 10 grow, Notwithstanding efforts
Ny manufacturers to check the supply
oforders by advancing prices. 1t Is the
feature of the Industrial world. Instead
cfichecklng the demand. 1t increases 1t
to a certain extent, rs many large con-
sumers who have held off In nnticipa-
ton of getting lower prices, have been
scared by the upward tendency, anu
are anxious to place orders for supplies
before a further appreciation occurs.
There Is n constant growing number OF
manufacturers who are withdrawing
prices, as they have their outputs sold
SO far ahead that they cannot take new
business. There is 10 speculat tive buy
Ing Of consequence. but n steady alb
sUrption Of offerings extremely healthy.
Prices are not high compared with pre-
vious years. Notwithstanding the recent
advances.
The week was marked by the booking
OF many good-sized orders. not only ut
Chicago but all over the country. Sales
o. pig Iron here were over 10000 tons,
IND prices We're either withdrawn by
furnacemen or advanced fifty cents a
ton. both on local and southern irons.
The market is considered In fine condl-
ton, and there is scarcity Of No.. 3
foundry and gray forge southern irons.
Foundrymen who recently covered
taair requirements for six months have
come into the market again for 500 and
1000 tons. Consumption is more than
keeping pace with production. despite
thcincreased numbek of furnaces in
blast, which means an output exceeding
1aoO0,0Oo tons for the year. >.
1t was an active week in iron and
steel bars. sales here being over 1900
tons. Mill men are withdrawing their
quotations in order to check the de-
mand. and in some instances have I'D
vanced prices one cent. Car-builders
are buying freely, as orders continue to
come In. The Baltimore K Ohio South
western placed orders for 1000 box cars,
and there were many other orders for
500 to 1000 cars. There is also q pros
pect that orders for 5000 cars will be
placed within short time. Agricultur-
al implement makers are running over
time. and the consumption OF material
is unusual. In structural iron the fea-
ture here was the placing OF the Schles-
niger & Mayer contract of 5000 tons.
. Orders for 1000 tons of steel plates
We're secured during the week. OF which
$500 tons were ship plates. These were
taken at an advance OF So to So. as COM
pared with a month ago. 4 good-siz,.d
tonnage in steel rails Is constantly be-
ing booked. Orders for 1900 tons OF
standards were taken here last week at
$40. Among the other sales were 5000
tons OF car axle bi!lets and $500 tons OF
open hearth billets. Makers are now
asking sci, while the nominal price for
ordinary Bessemer billets. which are In
good demand. is SIS. A small lot OF 600
tons>of steel rods sold at sec So and the
manufacturers are asking SOS for near
delivery.
The American Tin Plate company an
nounces that their price is 50 per bor OF
one hundred pounds ut the mills. They
will take no orders for less than car
load lots. their policy being TO turn
over small lots to the nearest jobbe:s.
This is to prevent decentralization in
prices.
There has been n general advance Of
20 per. cent In tInWare and tinrcd con-