The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-03-28
IRON MARKET is QUIET
HEAVY BUYING MOVEMENT HAS
COME TO AN END
Consumers Know Wants, and What
ever Advance May Occur VIII
Be for Benefit of the
MiddIeman.

CLEVELAND, March N.-The Iron
Trade Review, discussing trade condi-
lions in its current issue, says: So much
has been done in iron and steel for 1902
that heavy buying movements are no
longer to be expected. There is still
enough business ahead to make the
changes in prices that may yet become
a matter of moment to many conSum-
ers, but on the bulk of their wants con-
sumers know what their cost will be,
and whatever advance may come, the
middleman rather than the mills will
be the gamer. The pig iron situation
still has the quieter aspect that has dis
tinguished March from February. A
meeting of several of the Southern pro-
ducers was held at New York last week,
ard it was agreed that there should be
no advance from the schedule price Of
$12 for No. foundry iron. AS a matter
of fact, little iron is being sold at this
figure.
In Eastern markets, where most con-
sumerS seem not to have covered as
completely as those In Central and West
ern territory, there is a considerable de-
mand, and both Northern and Southern
furnaces with Iron to offer for the next
six months are getting prices equivalent
to an Alabama basis of $14 for No
foundry. We hear of 15,OO0-ton sale at
this figure. In central Western markets
Northern sellers of foundry iron and
some Southern sellers are getting con-
sidera BILE premiums for iron for second
and third quarter delivery, while Sll.o0
at Northern furnaces is now the usual
basis for deliveries of No. foundry in
the latter part of the year.
Basic and forge irons have been in de-
mand. Virginia basic has been taken IN
considerable lots. Gray Forge has sold
at $18 Pittsburg, and this advance, as
we'll as the advance In scrap, which has
become more difficult to get has led TO
higher level for bar iron $3.50, Pittsburg,
being maintained by one important pro
Queer, while another is still selling at
81 TO-
The recent advance In steel bars to
$780, which will apply to large lots after
April l, may be accompanied, it is init
mated, by an advance to $169 or $1.7O.
Pittsburg.- on ordinary lots. The heavy
buying Of bars in the past three weeks
and the large tonnage under negotla-
ton, to be closed before April l. seems
to have modified to some extent the con-
sentative purpose of large interests, and
the market is creeping up in way that
has not been counted on.
New York Grain and Provisions.
NEW YORK, March 27.-Receipts. 29.-
500 bbls; exports, 24H bbls; weak and
lower again to sell. Rye flour dull. Corn
meal dull. Rye easy; No. Western,
6434c f. o. b. afioat Barley b RE qu:et.
2,427 bu; spot easier; No. 2 red, S2a4c ele--
Vator; No. red, 85c f. 0. b. af1oat; No l
northern, Duluth, S0Ac f. 0. b. af1oat;
No. l hard Manitoba, S3Ac f. o. b. atioat;
wheat was attracted by firm cables,
talk of a corner in corn and smaH West
ern receipts. Upon attempting to take
profits in the afternoon, however, the
bottom dropped out, and extreme heayi-
ness ruled through the last hour, the
closing being weak at 11sc net decline.
May. 7734@79asc, closed at 77%c; July,
7S679 11-16c, closed at 78c; September,
7711@7914c, closed at TIE.
Corn-Receipts, 10000 bu; exports, $500
bu; spot easier; No. 2, 661sc elevator, and
6612c f. o. b. afioat On rumors of an at
tempted corner in Chicago, corn had an
early advance today, followed by just
as sharp a break under realizing and the
net decline. May closed at 645sc; July,
645s@65 Lice, closed at 645sc; Septem-
Der, 3s@643sc, closed at 633sc.
Oats-Receipts, 1927 bu; exports, 1900
bu; spot, quiet; No. 2, 46c; No. 8, 47c; NO
ed Western, 47@48c; track white, 4SGD
55c. Options firm early and then weaker
through realizing.
Feed-Easy; spring bran, SIS. 25@1S. so;
@22; city SIS Hay ,quiet; hops, firm; hides,
quiet; leather, quiet; beef. firm; cut
meats, firm.
Lard-Firm; Western steamed. $1O.1o;
March closed at SO 10, nominal; refined
firm; continent, $1O.S5; S. A, $1O.S5; COM
Pork Strong; family, SIS; short clear.
$l7 .50@2O; mess, SIG. 25@17.25 Tallow,
steady. Cottonseed Oil-Firm: prime
UNI quiet; .rosin, steady. Rice-Steady;
domestic, fair to extra, 43sQ61ac; Japan,
43sq5Ac. Molasses, firm.
Coffee-Spot Rio, quiet; No. Z invoice.
5Ac; mild, quiet; Cordova, 8@12c.
Sugar-Raw, strong; fair refining. SIC:
centrifugal, Sc test, 35sc; molasses sugar
21sc; refined, strong; No. Is, SS5c; No. II.
3.S5c.