The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-07-27
WEEKS TRADE IN IRON.
Only Il General Shutdown Can
Improve Conditions.

| New York. July .. -Hiscussins the conJl-
| upi. Of the Iron and steel industries and thc
| ~ WccNiy review SAYS thli Tn. gravity of
| ihe situation j. indicated 10y the arrange
| m"nis which have been made FOR This con-
! ~. .i"e Of IN" leading steel and t'cSsemer
/ Pix iron interests Til, iroa Age says.
1 IN" plan Proposed j. to cut DOWN lrOduc-
| uon aS much as Possible. Every blast fur
! nae" controlled 10y these interests is TO Ice
| closed, under the agree m'ut, Tor on" mont 70,
the Federal Steel Company. CARNEGIE. Steel
! iomFary and other large companies agree
| Ni;. Id ia ih!~ II the others viii. Tile sue
! cess Of such = plan viii depend upon the
| unaHinltN with which il i accepted. The
! DISSENT Of a single important Interest would
! or tEc general situation the Iron Age SAYS:
| The week Just closing has developed con-
| SiHrIahi" mon" business than its rrcdccss-
I s"fS, and this has given q mild sort OF en-
| ."lrJSemen; Ia manufacturers. Never,Ec-
less IN" uCreas. i'll the volume OF business
i not great enough by any means To satisfy
\ the Ufif.Gt aCturtrS, who nee! ., steady
! stream of orders 20 keep their mills running
| or their blast furnaces free from accumu-
] iItiHS heavy stocks of pig iron. The sales
| made laH" In nearly eye r. instance been
! - 'currl.:a-d at the still further sacrifice Of
! Prices. = lower range Of prices than that Of
Hast week now prevails through almost the
whole line. II is assumed by some that tho
| bottom Is HOW in sight because present
prices IL many cases represent actual cost
! ul production. tU. this has often proved TO
hy a d.IUSiJu- Prices Will c1i;tinU, 20 settle
until he supply falls below the demand.
We have inform atom Of heavy tTanSaC-
TONS Ia iIc iron for export. our Birm.rg-
, ham correspondent reports sales in that dis
tric. of al least 1891 tons. ard pig iron
house outside az the district reports gales Of
900 tons. Much more export trade could be
done. not only in pig iron. but Ia finished
products, T. vessel room Iouli b. = 'gurcd
/ hut II - dit'c"lt ~ present 10 arrange for
ocean carriage. and freight rates are also
nearly pTnhibitOrY.
'Eestr!rt:uu al production IS proceeding
Gu't. rdlrulg. more blast furnaces having
recently blown out, while others arr fast
-'lll4S into shape Tor subscribing ope r.itiuuS.
II = likely BON that the Western bar mills
VIII remain closed for considerably longer
In - had been expected. !u Visn al tire fac;
thai IN, T'auGiI ttuJcTS and tn. Auu;ii.;,iTat
al Association have locked horns over liz.
wage scale !"r n" coming year The assoc
citation has positively r'i.s'd Ia make a.ly
modification OF tht. scale formulated at In
diaLdpri~. and 'hr manufacturers have Just
as positively refused 20 accept H. The clos
Ing 80 many mills should have au effect
"u rTlC"s 81 bars, iut steel bars have sold
within tn" w""h at lower rates than the
previous wc,k
a very interesting, item of news j. the
announcement that the carnegie Steel COM
panN i about 10 enter int, the manufacture.
uf rods on "A Iarge scale and that il may also
decide TO manufacture hoops bands and cot
ton ties
Some failures rf fuUndrymcu have 90
CURED in NV York ami New England. hut
they are not REGARDED indicating any
genera! wefknesS in the trade"