Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1899-03-09
REVIEW OF
IRON MARKET
Production Was Not Up to
Expectations.
IT WILL TAKE SOME TIME
To Get New Furnaces Started Up and
Repair Many of the Old Ones
That Are Now Idle.

New York, March 9.-In it's review of
trade conditions the Iron Age will today
say: Our monthly blast furnace statis-
tics are of special significance because
they show a further decline in the active
capacity at work. The coke and anthra-
cite furnaces running IN February / We're
rated at 232, 672 tons per week. On March
l the output was estimated at 223. S65 tons
per week, a falling off of S,S0S tons per
week. Furnace stocks at the same time
declined Al 900 tons. The February prod
uct throughout the country was far below
expectations. Thus in the T%ittsburg dis
trict the furnaces which, on the basis of
their January make, We're expected to
produce in February a little over $4,000
tons per week, actually made a little more
than 90. 900 tons per week.
Aside from this considerable reduction,
due to climatic conditions, the ovens for
the past two months have pretty thor
oughly proved that new capacity cannot
be made available over night. That
preparations are going on in different
parts of the country on an extensive scale
is certainly true, but consumers of iron
must reckon with this fact, thai it takes
as many months to get ready as it does
weeks by estimates. American managers
deservedly possess a reputation for their
ability to rush, but in spite of that fact
our furnace capacity does not possess the
elasticity for which it is given credit. The
present very lucrative price will bring
every old pot into line, but it takes time
to accomplish the feat of putting the
cripples on their legs.
In the meantime the pig iron markets
are being swept bare of supplies for long
er and longer periods. There have been
sales of foundry iron, aggregating $4,000
to 10000 tons. 1t is a noteworthy fact
that in spite of our rapid advance the
southern makers lave still been selling
iron for export. Recent advices from
Europe indicate that the latest trouble
there is the scarcity of furnace coke.
Little is heard of late from those who
preach moderation as a sacred duty;
everybody is too busy harvesting to worry
about the weeds in the crop.
The steel market is at q standstill. The
few who are forced into the market pay
what prices the stray seller who can meet
deliveries chooses to ask. The western
bar mills are said to have practically con-
Guided their plan of consolidation which
is to take in 81 out of So works in the ter
ritory west and south of a line drawn
through Pittsburg. Moore and Schley Of
New York are to finance the undertaking,
which, according to present plans, is to
provide about S 1,500, 600 for the building Of
q modern steel plant in the Cleveland dis
trict. The capacity of the western and
southern mills is said to be about SOC, 900
tons of bars annually.
The tube consolidation has not yet
reached the point where the undertaking
syndicate is ready to accept SubScrlp-
tons. The American Steel and Wire COM
pany have strengthened their hold on raw
material and on wire rods by the pur-
chase of the plant of the Sheenberger
Steel mpa of Pittsburg. Heavy re-
quests continue to come in for finished
material of all kinds and the famine IN
such lines as plates continues undated