The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-01-24
WESTERN BUYERS OF
METALS SUFFER
JUST NOW
Material Cannot Be Trans
ported From the East
Within a Reasonable Time
Buying of Iron and Steel
in theWest Fairly Good.

CHICAGO, Jan. 23.-The Iron and
Machinery World, the organ of the
Western metal trade, says:
Local interest has been aroused this
week in negotiations which have been
in progress among the owners of sever
or eight of the so-called independent
iron bar mills, looking to a combina-
ton of their properties into n COM
pany, the deal being in the hands of a
prominent Chicago attorney. h pro-
posed combination would include prac-
tically all the Western iron mills out
side of the Republic Iron & Steel COM
pany. At this writing there has been
no announcement of the completion of
the deal
In the markets the obtrusive act re-
mains that metal material cannot be
transported within a reasonable time
from furnace or mill to the warehouse
or factory of the Western buyer. ESpe-
cially does this unsatisfactory state Of
the freight movement apply to iron
n steel from the East n likewise
to coke. Whereas, under normal con-
ditions, six days will bring a car from
the PittSburg district to Chicago, it is
now common for thirty days or longer
to intervene between shipment and ar
rival at destination. The condition is
fully as unsatisfactory as 1t was last
winter. The effect of it all is to give
J. lIliCSS " the IldI h0l.
Western Buying Good.
Buying of iron and steel in the West
is fairly good. There are few large or
ders, but it is the aggregate that counts
and the aggregate is substantial. Bar
trade within ten days has included
several large orders; pipe is called for
steadily by both warehouse and manu-
featuring interest; sheet sales are
quick and cOpious. The market for
structural material scarcely gives omen
of what it is yet to be this year, but a
scattering trade is reported. Electric
lines are getting busy and are asking
for much roadbed material. Prices
may be a shade better. On most lines
of finished material, the increased cost
of transportation has now been added
to the selling price at destination.
PIG Iron.
The Mayville furnace was obliged to
bank this week, coke at hand having
become exhausted, although 200 cars
are said to have been Ell route. This
illustrates the situation. The coke is
produced and started on it's way, but
gets miXedsup in divers freight block
AIDES, and progress towards destination
is Indefinitely postponed. The two Chi
cagO furnaces, the relighting of which
was confidently expected last week, are
still cold, for the coke that is needed
does not arrive. Hence, the produc-
ton Of foundry irons in the Chicago
district is lame and below par.
Neither are foreign irons heard of in
this locality as they were several
ont ago. At the present scale of
prices impOrtations for consumption
near the seaboard are practicable, but
the cost at Chicago is of little if any
below the price of domestic grades and
at approximate values the latter are
generally favored.
Demand Not Brisk.
But Southern irons are not tagging
TO the same degree. There are diff
culues in getting iron forward prompt
~ put the supply is not brisk. Inquiry
IN TACT IS of so small caliber that the
contrast is remarkable with the buy-
ing OF several months ago. The differ
ence in the volume of trade cannot rep
resent a corresponding diminution in
the consumption, though the melt is
not so large now as it was several
months ago. The foundrymen are
doubtless getting more adequate deliv-
cries on their contracts, and hence
some of those furnace men who last
year adopted the policy of selling in the
open market are now looking for Or
derS.
Prices are generally described as
father weak, but are probably no low
er than a week ago. For shipment from
n $3.50 Birmingham. is the
common quotation for No. 2 foundry
rms has been shaded 25 cents on some
iron that left furnaces prior to the adI
vance in freight rates Jan. /. Snot iron
mas IN some instances sold this week
up TO $3.50, Birmingham, or S23. 81.
Chicago. ~