The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-01-17
NORMAL CONDITION
IN WESTERN METAL
MARKET
This Is Rapidly Approaching
and Activity Is Slowly In
creasing- Contracts
for Steel Bars Closed
Bright Outlook for Build
ing Material.

CHICAGO, Jan. 16. the Iron and
Macnlnery World, successor to Iron and
steel, the organ of the Western metal
trade, will say in it's issue tomorrow:
Inc western metal market are ap-
proachlng normal state. In January
there is usually little trading. There
mas been comparatively little during
the past two weeks. But the activity
IS Slowly increasing. It Is most mark
ed IN those lines of finished iron and
steel, which go to consuming manu-
facturers, including bars, sheets and
plates.
For bars and sheets particularly
there has been an Improvement. In
pars the implement makers usually
contract from July to July, but a num-
Der of manufacturers have contracts
expiring Jan. l, and they are now re-
neWlng, commonly for six months. Sew
eral good-s1zed contracts for steel bars
nave been closed this week and con-
siderable interest has been taken in
iron bars also. One maker has closed
several contracts, exceeding 1000 tons
each. The railroad companies are
among the lnQuirers for bar material.
Orders for Building.
In those lines Of metal which relate
to structures the outlook is bright.
There has been little doing in large
h,
miscellaneous trade throughout the
West is in receptive mood and many
small orders have lately been placed.
Pipe makers are doing a business that
is entirely satisfactory, and notwith-
standing the advance in nails Jan. the
nail makers report a heavier tonnage
sold SO far this nnonth4than for the cor
responding period Iastsyear.
For most lines of finished product the
market has all the indications Of stead
mess and this is conducive to free pur-
chases. But there is little buying ahead
and the current trading represents very
accurately the current requirements
at a season when coIAparatively little is
expected.
Pig Iron.
Everybody agrees that the pig iron
market is quiet. An inquiry is in the
market for 5000 gray forge for cast
iron pipes, deliveries to begin in Feb
ruary, but that inquiry stands solitary
and alone for its class. Several re-
quests are present for 500 tons and
there are few for carload lots up to
100 or 200 tons. The makers Of South
ern iron held a meeting in New York
late last week and are reported to have
fixed $18.50 as the minimum price Of
No. foundry for the first half of the
year. 1t was currently reported, how
ever, that with orders already on hand
the furnacemen expected to obtain
higher prices during the whole of this
period. AT present $19, Birmingham, is
considered the minimum quotation for
No. 2 foundry for shipment during the
first half of the year.SsFor deliveries
during the second half $3.50, Birming-
ham, would be accepted, but there is
no business Offered at that figure.
No Extensive Contracts.
The present inquiry is entirely for
deliveries expiring In June or earlier,
later shipments Interesting neither the
large nor the small sr1elters Even for
nearby uses the jobbing foundrymen
are not buying. AS a rule they have
not made extensive contracts for cast
ings as yet this year, and until this is
done they are not covering A consid-
cradle number Of the foundries are re-
ported to have been closed during the
past few days, various causes being as
signed, among which may be men
toned a lack of fuel, a. desire to take
inventory, the necessity of repairs, af-
ter steady operations for a prolonged
period, etc.
There are some prospects that the
two Chicago furnaces which have been
idle for many months because Of the
coke famine, will start up within
very few days. The coke supplies are
still inadequate, but there are some in
dications that receipts may increase in
the near future. The present demand
for pig iron, what little there is, is now
mainly for Lake Superior grades.
There is a decided scarcity of charcoal
| irons, the price of which has advanced.
! Otherwise Northern irons are an
changed