The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1901-07-11
NEARLY BALANCE.
Production and Consumption in the
Iron Trade.

New York. July Embarrassing condi-
tons in the iron and steel trades. the
Iron Age says:
Our monthly blast furnace statistics
show that there has been a decline in
weekly capacity of the coke and anthra-
cite furnaces from 3O6, 991 tons on June
/ to 303,793 tons on July 1, while the
stocks of Dig iron in the hands of the
merchant furnaces declined from 333,S13
tons on June to 327,761 tons on July L
In other words. production and con-
sumption nearly balanced. From all
quarters come confirmatory evidence
that the consumption is phenomenal.
Thus a leading official of the United
States steel corporation reports that
that concern is producing steel ingots
at a. rate which makes an output of TO-,
100000 tons likely this year.
While statistically the situation is ex-
ceeding sound, there is throughout an
uncertainty and an i'll defined feeling
that we are on the top of the tide and
that we may see slowly receding values.
In some departments deliveries are be
coming prominent, premiums have dis
appeared, and there is more disposition
to hunt for business. In others, nota-
bly, in the wire trade, however, the grow
ing of the independent mills are begin
ming to tell. wire rods are offered more
freely on the basis of $35, Pittsburg, new
sellers, small though they be, coming
into the market. 1t is believed that a
good deal of the wire nail capacity I'M
der construction will soon be available.
In May it was estimated that out of the
10000 kegs daily requirements, in the
active season. 10000 kegs could be COW
cred by outside mills. The latter fig
ure will be much enlarged before sixty
days have passed.
The steel rail mills have opened their
books for orders for delivery for the
coming year at SIS per ton, which is the
price now prevailing From the stand
point of the mills. the situation is very
strong. In reality there are only four
parties now the United States steel
corporation, the Pennsylvania Cambria
interest. the Colorado, and Jones &
Laughlins, limited
The Lackawanna viii not be in shape
to resume at Buffalo until the early
summer of 1902, and the starting of
the Tennessee company is too indef-
mite to allow them to become a factor
for some time to come AS yet little
business appears to have been booked
and probably the southern roads,
likely to come in first All the mills
are crowded with work. and will
probably not be able to touch new
business of Importance before Novem-
Der or December delivery.
The feeling in the trade is that the
differences between the Amalgarnated
association and the union mills of the
United states Steel corporation will
be very promptly settled, since both
sides have much to gain from con
tinuance of work.
The lowering in the price Of sheets
does not appear to have gone into
eCAtCA GA IAA-Nts eAAAA ltAC AAAHJOIAIN CL Jul
side mills are adhering to the old
prices.
Very little is being done for export
There is a report current that a sale
OF $4,000 tons OF ship plates had been
made for delivery at Belfast yards,
but it is met with an authoritative de-
NAL. The private accounts Of the sit
uation In the German iron trade con
tinue very gloomy. Drastic measures
n ay be necessary there to clear the at
mosphere-
The London tin king has given a