Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1900-05-31
FEELING OF ROPEFULNESS.
Best Thing That Can be Said for The Iron
Market at Present
No improvement In Prices, the Tea.
dency Of which IL SuII
Downward.

New York May 3O.-Discussiug the
condition Of the iron and steel indus.
tries the Iron Age says
The best that can De said ion the iron
market at present is that a feeling of
hopetuness rs displaying The demand
seems TO Doc little better in some
barnches OF the trade, and buyers are
disposed Oh place orders rather more
freely This Is particularly true OF the
West When this has been said. how
ever 10 covers about the most encOurag-
ing conditions To- be noted 40 improve
mcut is seen in prices The tendency
appears 90 be sim downward and so
idr no indications are seen OF "a firm
foundation Tor such products as are
not absolutely controlled by an effective
consolidation or combination Prices
have been gradually recedlng for some
time. and while heroic efforts are made
Go maintain them In some directions
this simply results In creating q great
spread Ia quotations Prices for this
reason on some products show q range
OF several dollars per ton Wire rods.
Tor instance are quoted at mills In the
GENITAL west at S3s TO S47.50.
IL is generally believed that a large
tonnage Is waiting 10 De placed az soon
as prices shall have touched a figure
that viii be considered satisfactory to
buyers. How far down they must 10 in
order 10 meet this condition, 10 is. OF
course. difficult 10 say. When prices
were 40 their highest ii would certainly
have been deemed favorable 10 new
business FOR concessions 20 be made ap-
HH|I.aH IHHHH. NHrU 49,.
Z however always seek 90 secure some
thing a little lower than the offers
made to them. II Is likely that the
fact that this Is q presidential year
may influence this reserved business
more than the mere question OF prices
Undoubtedly In all discussions OF con.
dltions now affecting trade the presl-
dental election is Invariably taken into
consideration.
one of the Interesting items Of news
coming out during the week Is the re-
ported sale Of 5000 tons Of pig iron by
large southern company for export to
Scotland, the shipments 20 cover the
next six months. The reputed sellers
VIII neither affirm nor deny the report
but it is quite generally believed 10 be
true,
a large contract 20 be- placed within
few days covers the approaches to the
new East river bridge between New
YORK and BROOKLYN. which viii require
about 5000 tons Of steel. This con-
tract would excite much more interest
In the trade II the steel was not open
10 acid open hearth, which restricts the
number OF bidders
Another important matter coming up
for consideration Is the probable dis
agreement between the Amalgamated
association Of iron. steel and tin work.
ers and the owners of rolling mills In
the West over the wage schedule for
the year beginning July ]. The assoc
citation viii ask FOR an advance In the
base on which their wages are reeulat-
cd and under present conditions the
manufacturers viii certainly refuse to
grant this request. II Is expected 10
lead 20 the closing Of many mills ana
consequently a decided restriction OF
production This win II continued Tor
any length Of time, favorahly affect
finished products, but will have the
opposite effect ON pig iron. II Is as
sumed by those who are believed TO be
well informed that the workmen are
not averse 10 taking a vacation this
summer. as they have had a long period
Of uninterrupted employment az good
wages A disagreement however. be-
tween manufacturers and employees
which entails the closing Of large es-
adjustments and the enforced idleness
of thousands OF wOrkmen cannot but
have an unfav0rahle influence on many
branches Of trade outside OF the one
directly interested.