The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-03-31
IRON AVID STEEL TRADE.
Conditions Continue to 1mpFove-Ths
Alleged slump a Myth.

Conditions Continue to Improve-The
Alleged Slump a Myth.
The condition Of the iron and steel
trade in this vicinity continues to inn
prove, says the current issue of the
Ohio valley Manufacturer, The mills
and factories, with two exceptions, are
working full time, and while the finish
ed product is not sold as far ahead as
this time one year ago, the outlook is
as bright. The startling headlines in
many of the prominent daily newspa-
pers regarding the slump in the price Of
iron and steel created quite a furore in
the minds Of the public, but those who
are interested detected the object Of the
attack. For weeks the makers have
known that several large contractors
have been making inquiries right and
left to find some one who would enter
tain their bid for material, and then
use this maker as the means Of break
ing the price Of the party they wished
to have the contract. However, the
buyers failed to find their man, and
since then many rumors have been cir
culated that were regarded as sure to
produce concession OF prices. And
now we read Of an old Anticipated Wall
street scheme, one that even now Is
being investigated by the courts of
New York, that will stop the circulat-
ing Of reports intended to mislead In
yestors of stock. But this seems to be
the lest card the buyers have to play
and as 1t is as unsuccessful as the pre-
cedinE efforts, we may reasonably con-
clude that those who intend buying
iron and steel will accept the inevitable
and pay the market rate. The iron and
steel maker Is so firmly intrenched In
a good demand that all rumors and
plans to upset the market ere regarded
with absolute Indifference. The market
for structural steel has been so quiet
so far this year that prices were shad-
ed to secure orders, but this has not
been general nor have the rates thus
made been considered the market price,
The present conditions OF the trade Will
be maintained with narrow fluctuations
for the remainder Of this year.
Pig Iron.-The production Of pig con-
tlnues without change and the de-
mand absorbs It as fast as turned out.
The supply Of coke and ore has been
better than last week and consequently
the work has been more satisfactory,
otherwise, no change is notable.
Blllets-Whlle sellers have been look
ing for market there has been no eff
fort to undersell each other, and this
has been one reason for so many small
orders, yet since last report we have
learned Of some good lots contracted
for. The price remains firm at S33 to
$34 for steel billets,
Structural Material.-The placing of
so many large contracts that are
known to manufacturers has been de-
layed by efforts OF builders to obtain
prices below the market rates. And It
is generally understood that from this
source was the rumor started regard
Ing the slump in prices Of steel. aud
now II looks az though It would have
the reverse effect,
Old Mnterlal-Th market remainr
firm and there is an upward tendency
OF the rate. Both iron and steel rails
nre in demand and holders ask full
market rates However. there lie some
uncertainty as to the future OF the
market.