The Topeka state journal., 1899-10-19
MORE PuZZLING
Grows the Iron Situation as Time
Advances

New York. Oct. 1s.-Discussing the
condition of the iron and metal trade,
The Iron Age today says:
Conditions in the iron trade are be-
coming more and more puzzing- While
assertions as to adverse effect of high
prices on consumption are growing
more numerous and there is more talk
of resistance to further advances, the
large interests are assuming an atti-
tude Of great aggTessiyeness. The high
" interesting movements in the We sSeI
transportation on the lakes are com
plex but find their explanation in the
effort on the part of large consumers of
ore to keep down lake rates while the
ship owners are trying to establish a
nigh hgure IN order to make it apply on
old contracts
Charters for a heavy tonnage for the
1900 season have been made at $40 and
S1-25 and discussions as to coming ore
prices are being heard. A rise from the
$3.50 basis this year TO So and $5-25 IS
spoken of. Apparently little has been
done in furnace coke for the first half
Of 1900 but So is mentioned while a con-
siderably lower figure is spoken OF for
the second half
Some large movements are reported
in the intermediate materials in the
central west In Bessemer pig there
have been two sales aggregating $4,000
tons This does not include a 50 600 ton
furnace contract in the northwest.
One block Of $4,000 tons Of billets was
placed for delivery during the first half
the market, one interest alone asking
for over 100, 600 tons. The attitude of the
principal producers will probably be
defined at an early date and an i'm
pOrtant conference is talked of.
In some OF the finished lines very
large requirements for 1900 are under
consideration Thus the largest con-
Suming interest Of merchant pipe IS
said to have placed a very large order,
and is now in negotiations for the skelp
for a part of it, the quantity of the lat
ter figuring up to about 1900 tons, the
greater part of it steel.
The announcement has been unofh-
cialy made that dating from Saturday
standard steel rails are to be advanced
from S33 to $50 at the mill by makers
for any orders entered after that date
for 1899 or 1900 delivery. There is good
reason to believe that this is the case.
It is understood that some very good
orders have again been placed of late
and that large tonnage viii be enter
ed during the next few days. Report
has it that the inquiries now on the
market aggregate 25O.00 tons
The wire interest has made-a a further
advance of So per net ton on wire and
on nails and reports are current that
structural material is to be brought in
to line at an early date
It will be observed, therefore, all the
great interests are committing them
selves to a continuance of the rise at
least so far as the first half of next
year is concerned. It will be idle to
the trade deplOre this pronounced ten
dency, since it increases the danger Of
a check and threatens to make the ine-
vitabIe decline when It does come, more
abrupt and demoralizing.
The prospects for the export trade
have been further darkened by the rise
in ocean freights, due to the withdraw
al of many vessels into the carrying of
men and supplies for South Africa
In the metal trades the principal
event is the weakening in lake copper
and the easing off of tin.