The Topeka state journal., 1899-12-07
IRON IS WEAKENING.
Days of High Premiums For Early
Delivery Are Over.

New York, Dec. 7.-Discussing the
condition of the iron and metal trade
the Iron Age today says:
AS is natural, after so long a period
of intense activity. the iron and steel
markets have quieted down consider
ably. a number of causes contribute
to bring this about Prominent among
them is the circumstance that large
part of the requirements in many lines
has been covered, not alone for the first
half Of 1900. but also for a part of the
second half. This notably true of
Bessemer pig and largely true of fOun-
dry irons 1t is true also of steel rails,
but to a more limited extent only of
steel bllets and sheet bars. Some of
the large consuming interests for bill
let's have covered pretty well into the
spring. Others, on the other hand, have
been in the market for very consider
able blocks for the first half, but pro-
fess to have views as to prices which
sellers are quite unwilling to entertain.
BilletS, like a number of rolling mill
products, have had an appearance of
weakness lately, which is really moth
ing but a adjuStment in prices. The
days of high premiums to procure i'm
mediate delivery are over for the pres
ent, and values are on a more cOnSer-
vative and sOunder basis, taking costs
into consideration.
Another reason for the Iull is closely
connected with the season. \ good deal
of outdoor work in many sections of the
country ceases altogether. Thus in
building, and in many municipal i'm
prOvements, consumption falls low. Us
ually manufacturers employ the dull
time to accumulate stocks for the
spring trade, usually the largest from
the point of tonnage of all the seasons.
Even with the sharp lessons of the pres
ent year, manufacturers may be eX-
pected to be chary about filing their
warehouses with goods into which rel
atiVely high priced raw material must
go. Nor are merchants, wholesale and
retail likely to stock up literally at
tOday'S range of values in the face of
possible adverse contingencies. Until
there is clear evidence that the spring
trade Will develop as well as the gen
eraI prosperity of the country would
seem to justify, buying is apt to be
cautious.
The effect, if it develops at all, viii
take the form. probably, of increasing
prOmptness of deliveries on the part of
sellers and later on of some desire on
the part of consumers to have ship
ments deferred An intermediate stage
may be that consumers will find it con-
Venient to accumulate some stock as
a safeguard against the harassing de-
lays to which they have been subjected.
1t IS believed, too. in the trade that
the powerful influence of the great
consultations will be exerted toward
preventing any serious fluctuations.
While costs have advanced all along
the line, there are many wide differ
ences in the influence of that factor.
: To many producers the full effect will
not tell until we enter the second half
of next year
While export shipments continue in
good volume, the great bulk of the ma
terial going out is in contracts taken
long ago at low prices. For months in
many leading lines, new transactions
have been small and infrequent. Still,
even at the present level OF values for
the export trade some business is be-
ing done and more is pending. Thus we
understand that a big block of cast
iron pipe is being figured on.
In the metal trade dullness is the
general feature. Copper hovers nom
inaIIy around II cents Tin has been
declining as seems only natural, con-
sidering the fact that consumption has
been dropping off. SpeIter has advanc-
ed SLIGHTLY in price.