The age-herald., 1900-04-09
WEEKLY REVIEW OF
 THE IRON MARKET Statistical Situation Fully War
 rants Strength. PRICES HAVE HELD FIRM Foreign Markets Have Moved Steadily Upward and Have Made New
 High Records-Demand Greater Than Supply
PRICES HAVE HELD FIRM

Cincinnati April S.-(Special.)-In re- viewing the iron market for the week end- ing Saturday April ', Rogers, Brown & Co.,, the well known brokers, have the fol- lowing to say:
 'The statistical situation fully warrants a strong market in pig iron. The demand for Bessemer and basic appears large, and prices are firm, there being no evidences of weakness in any direction. The general business of the week has been on a larger scale than last week; orders have been more numerous and of somewhat heavier tonnage, and inquiries have been noticea- ply more numerous. The transactions of the week have been in all grades and qualities, some concessions in prices have been made on off grades, of which the furnaces have produced rather unusual quantity during the recent indictment weather
 "The market closes in much better condition than characterized it a week ago."
 From New York
 From a New York viewpoint the brokers have the following to say:
 "Every feature mentioned in these re- ports for weeks past still continues, and is emphasized Buyers continue to hold off, taking only car load and fifty ton lots for spot delivery, and waiting for the expected slump. The same mood is said to prevail in finished forms of iron and steel The old and sure law of supply and demand will soon settle the question as to whether markets are too high
 "Some large consumers have been watch ing the increase of iron in furnace yards and taking no notice of the decline in con- sumers' yards, have lately been looking into this phase of the question, and ex- press themselves as satisfied that the shrinkage of the latter has been far greater than the increase of the former. The president of one company operating several large foundries thought esti- mate of one hundred tons shrnkage in each foundry in the country comparing April 1 with December 1, was very mod crate; but he had never thought of that side of the question before If the shrink age of melters' stocks has gone down more than twenty tons to each plant, then the country continues to consume more iron than it is making. Consumers are better judges than furnaces as to whether stocks in foundry yards have run down more or less than this figure.
 Foreign Markets
 "Foreign markets have moved steadily upward and have made new high records during the week. Middlesboro No. 3 war rants closed Thursday at 77s Sd, and Scotch, at 76s Id. This is a rise of about $2.25 per ton within month. Authentic advices from Glasgow are, that the bear clique which has dominated that market for years, making profits in carrying short sales, has been thoroughly routed and demoralized, and common gossip puts the losses of the leading houses at high fig ures. Even the bogie of a flood of Ameri- can cheap iron has failed to work longer in the face of the rapid decline of home stocks, and there has been scramble to get under cover The invasion from America, however, is still worked for all there is in it.'