The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-10-18
WAITING ON ELECTION.
Business in Iron Trade Circles is
Dull.

New York, Oct 1s-The Iron Age in
its current issue, reviewing the market,
says:
Generally speaking, the markets are
quiet. a fact which is quite universally
attributed to the desire on the part of
buyers to await developments In the presi-
Dental election In ordinary years this
is the period in which a determined
struggle is made for winter work for the
rolling mills. While that has been Sc
cured in some branches, as in the bar
trades where prices were sharply cut,
it is not on the order books in other de-
partmentS. BY the middle of November
1t Will be clear whether the volume OF
orders held back by buyers and distrib-
utors Will be great enough to comfort
ably fill the big plants and give the little
mills a good tonnage in addition Nat
urally the great organizations are Sc
curing the bulk of the business, much or
1t through long time contracts with
manufacturing consumers and allied in
terests- They all follow the axiom that
running to full capacity is the first con-
sheraton
Pittsburg reports somewhat frmer
tone in the pig iron market, although
the volume of transactions is Sc light
that the slightest pressure to market
product might turn the scale. In the
east the largest transaction appears to
have been a sale of 1000 tons of basic
pig to an eastern Pennsylvania mill at
S14 delivered. Steel billets are nominal
all over the country. It is noticeable that
the price Of open hearth billets is more
and more approaching that of Ressemer
billets. natural result OF the greatly
increased capacity for Siemens steel.
In the steel rail trade the announce
ment has been made that the Pennsyl-
Vania railroad has decided to buy $780,
600 tons for next years delivery. So far
as we can learn, however, the allotment
of even a part Of the work has not yet
been made to the individual mills To
the outside observer it seems difficult to
understand why the roads should be in
q hurry TO nfaCa their orders now for
distant deliveries.
In the plate trade a slightly easier
tone is noted. Chicago reports a. sale
of 600 tons of universal plates to local
firm of merchants. In structural steel
it is understood that the leading inter-
estS have contracts in such abundance
that capacity is engaged for many
months to come. The capture of the
East River bridge work by the Pennsyl-
vania Steel company involves about TO-
900 tons of material, of which a consid-
cradle part will go to Pittsburg 1t is
likely that at an early date there may be
some notable contracts for foreign de-
livery.
Reports from the principal makers of
bars and hoops agree in reporting a
very active business and sellers are in
clined to be cautious about further com
mitments at present prices. 1t was be-
lieved that there might be some trouble
in supplying the Union mills when
starting with the necessary Speclfica-
tions, in spite of accumulated orders. 1t
is developing, however. that new bust
ness is coming along in an unexpectedly
liberal manner.
The cast iron pipe trade in the east is
very quiet and competition between the
consolidation and the outside shops is
very keen. Chicago reports the sale of
an 5000 ton lot to a railroad company
Relatively little new business is being
taken for export, but the large concerns
are more and more preparing for this
branch as a permanent feature OF their
work