The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-08-30
IRON TRADE IMPROVES.
Prices Named Below Which Mill Men
Will Not Go.

Cleveland, o., Aug. 3O-The Iron
Trade Review this week will say:
The Improvement in the iron trade is
spreading. Pig iron Is sharing as it has
not before the activity that appeared
five weeks ago In finished material. and
the mills are adding to their booked
tonnage, though not at the rate Of early
August. when the large contracts for
is repeating the history made in finished
lines With buyers really ready to take
hold the producers are quoting prices
below expectations, considering present
high costs of material and labor and
1t is plain that the cost line has been
crossed for some furnaces that are still
in blast. Important producers, able If
any to sell at the low prices reported,
are refusing to go below an announced
minimum. On southern iron this Is $11
Birmingham for No. foundry, though
sales have been made at $1025 and
$1,000, and it Is understood western de-
liveries have been made at figures net
ting 1910 at southern furnaces. SINH
larly northern iron has yielded in the
face of actual demand, and while SIS
at central western furnaces for No. 2
foundry was considered minimum
few weeks ago, $14 has been done, and
it is understood iron has been sold de-
1ivered 100 miles distant from furnace
at S14 Farther east as low as $13. so at
1000 ton lots has been quoted, deliv-
cries extending over the next few
months; but 1t is found also that some
of the lowest sellers OF the past two
weeks are now about so cents higher,
having taken orders that viii tide over
the immediate future.
Others, apparently, prefer to tide over
by carrying the iron. expressing conf
dence in higher values before the end
of the year. Very low figures were
made on some of the recent purchases
by pipe foundries, $3.50 for No. 3 south
ern and 50 for No. having been
But apart from prices which are per-
haps secondary in view of the long abb
stention of pig. iron buyers from the mar
is the amount of buying and inquiry for
iron, and the participation of all sections
in the demand. The most significant de-
velopment in BeSSen1er iron is the refusal
of the furnace men to accept an order at
current prices calling for delivery beyond
the end Of the year. their policy being
ment later in the year, resulting from he
roic curtailment of production now under
way. Plate and bar mills are perhaps
prices: and 10 cents Pittsburg is now
considered minimum on large orders of
either plates or steel bars. There mas
feeling is general that western mills viii
start early in September Structural mills
are still pushing for business. While the
reduction of 1.50 cents has brought out
DELAYED orders the mills are still far from
comfortable for the immediate future
New vessel building continues to be an
Important factor in the central west and
upward of 10000 tons of steel has been
placed thus far for the fall and winter
work. Export trade in billets, sheet bars
and finished steel is more and more
promising. Orders are being taken every
week since foreign prices have receded
only q fraction OF the fall in the home
tfal rates were given by the railroads on
export steel going to seaboard.