New-York tribune., 1907-12-25
IRON TRADE CONDITIONS.

The Iron Age says:
The most important event of the week Is ths
announcement that the United States Steel EXPORT
Products Company has sold recently for shipment
during the first half OF 1905 to England and Wales
100000 tons of sheet and tin plate bars. This ~
the first important transaction OF this character
since the middle of the current year, when round
lot was sold for delivery during the last Guarter
of this year Detroit stove manufacturers have
been the first to act in the OF purchasing mate
rial for the first quarter and the first half Of ths
coming year They bought between IL, 900 and l4oo0
tons of Southern and Northern irons. the former
the basis OF SIS for No. Birmingham and ths
latter the basis of about SIS 80 furnace This
is the rst serious test of the position OF buyers
and sellers. There is considerably inquiry in
all the leading distributing markets and il is ex-
pected that when the holidays over. and con-
sumers have determined just where they stand
quite buying movement will develop IL Is un-
doubtedly that srneIters have enough
iron due them to carry them along the first
quarter, but IL is true also that many others VIII
need to cover. possibly only by purchases fron'
hand 10 mouth. In some sections merchant iron -
accommodating in spite OF the restriction OF OUTPUT
but it is nearly always the same. that the stocS
thus pilins up is due consumers on old contracts.
who may or may not take the metal There has
been some talk of sales OF Southern iron Tor SNIP
ment abroad. Nothing has been done and so tar
foundry iron is concerned there IS no chance OK
business being closed at present prices abroad IL
is believed possible, however, that some tonnaso OK
Southern basic pig may be marketed on the Medi
terranean. New business In finished iron and steer
has been light and bookings at the rate or
about 30 per cent of the capacity. shipments how
fully double that amount, taking the eoun-
try whole
THE Iron Trade Review says:
THE iron and steel trade at the close OF the nioss
remarkable year In its history, In which prosper
ity was utterly paralyzed looks forward to MIC
and conservative improvement after the nrst cs
the year. The producers in better conditon u
maintain prices at this time than they were III
1903 and 1904. and some progress has already oeen
made toward readjustment TO permit OF ousi-
being placed early in the new year. Some or
the more highly fiuctuatng commodities have
reached prices which experience indicates are IKE
ly to prove close 10 the bottom Southern pig iron
been sold at siS. Birmingham. but the furnaces
will not sell for any extended delivery at this price,
although rumors of lower prices have been fol-
lowed by display of eagerness to buy. These arc
frequently signs that the turn is at hand Inqui-
ries for pig iron have increased, and about IAN"
tons have been sold at Cincinnati.
In coke the DECLINE seems to be checked. Stand
ard ConnelIsvile furnace coke has been offered se
less than s. at ovens but within q few days the
sale of 1000 tons made at $2 25 for delivery
this year and 1000 month throughout the
year on a sliding scale based on the price Of pig
iron For 1904 delivery this coke was sold down TO
81 50, but that following a wage reduction CT
about IS per cent made in December, 1903. Since
then the wages have been advanced. and there WW
not be a general wage reduction this yoax."