The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-04-05
IRON MEN PUZZLED.
Don't Know Whether Prices Will Go
Down or Up.


New York, April 5-Discussing the
condition of the iron and metal trades
the Iron Age today says:
An event of great Importance is the
completion of the consolidation of west
ern sheet mills under the name of the
American Sheet Steel company, with
the Apollo Iron and Steel company in
cluded. This makes the organization
much more potent in the sheet trade
than if the Apollo had continued as an
independent estimate. The absorption
of this great company, the largest pro-
ducerS of sheets in the world is a tri-
umph for the promoters of the CONSOLE
dation
Those whose interests require them to
make some decision relative to the pro-
bable course of the iron market are in
as great perplexity as ever Nothing
has really occurred within the past
values are more likely to go down than
up Examples of a downward tendency
are to be found in finished iron and
steel products with the exception OF
rails, structural shapes, and thin Sheets
which are firmly held. On the other
hand, it is reasonably certain that if
consumers were to enter the market for
large quantities to cover their require
mentS running some time into the fu-
ture they would be obliged to pay tariff
prices. This is due to a great extent to
the changed industrial conditions which
now prevail The great consultations
c1AC ION 6ACIl1nS lne lIlu6QC6 IN main
tanning prices which was so freely pre-
dicted year or more ago at the Time
when they were being formed They
seem to be undisturbed by the conces-
sions being made by small establish
mentS competing for the same class of
trade Further, the price of bessemer
pig iron, which may be regarded as the
key to the steel sitiua ton, remains firm.
It had been expected that the Bessemer
Zig Iron association would on Saturday
last fix prices for the last half of the
year, but they took no action
| This may or may not be significant,
according to the standpoint from which
| the matter is viewed It is believed
| that the makers of Bessemer pig would
! be satisfied to take orders for the re-
mainder of the year at $24 at Valley
| furnaces. BilletS are also held firmly.
/ Notwithstanding the almost total lack
of demand. Quite a confident feeling
prevails among the large producing in
terest that all that is needed is pa
thence and with the passage of the sea-
son for labor troubles trade will re-
sumo its normal volume
The report that the Carnegie company
| has made a contract to deliver 10000
tons of structural steel in England dur
ing the summer is officially denied. Nc
such contract has been made. Sales OF
| pig iron and steel rails are being made
| for export, however, and the prospects
for continued business of this character
| are excellent Inquiries are daily be
ing received from Germany and Austria
as we'll as from England, for quota
lions on pig iron.
The machinists' strike has been endes
by the men returning to work pending
the adjustment of the dispute by ar
bitration. This removes a serious cIout
/ which has been overhanging the iror
trade. 1t is hoped that no further diff
ficultieS may arise that cannot be sur
mounted The iron trade, however, j:
not destined to be entirely free from la
Dor troubles, as a serious coal miners
strike has developed within the weel
at Pittsburg, which causes much IN
easiness in that locality, the seat of tn
largest iron and steel interests in thu
country. The strike however, is of to-
great proportions to continue long.