The Washington herald., 1909-02-28

The International metal markets reflect
generally unsatisfactory conditions. The
s0fteuing in prices OF most base metals
he's had no effect IN tempting purchasers
for anything beyond small tonaagss.
The moribund condition OF the specula-
tive elements in the metal markets in
dicates q ~ell-gT0uHded opinion that a
general improvement in business IS re-
mote.
Here snd there, at home and abroad.
metal producers and manufacturers re-
port a little Improvement In sales. IN
ell such Instances the improvement IS In
zones which fared exceptionally well IN
the latest harvest Of agricultural pro-
ducts. Worldwide reductions IN prices
OF crude, semi-manufactured and nlal1ti-
featured metal goods were made last
week. But the effect was discounted IN
the stock markets BY reason OF the fact
that IN almost every instance the official
declarations OF recessions in prices came
a fortnight after shrewd buyers had
hammered the markets for metals to
prices below the official quotations
The domestic metal markets exhibit
the smallest degree OF purchases for ac-
count OF the Eastern States and the best
trade conditions. are in the regions for
which Chicago and St Louis are the
principal distributing points. The most
hopeful sign is the notable Increase in
building permits in the East and West
Mechanics IN the building trades are bid
ding against one another at far below
union rates OF wages. and prices OF
building materials are so much below
quotations Of some time ago that real
estate owners see their way clear 70
do a good deal OF new building and 70
carry on betterments OF old structures.
Building specifications so far let foT
work 10 be carried out this year amount
TO S4s7. 200, coo.
Pig Iron Market Quiet.
Domestic pig iron is quiet Conditions
that existed a month ago rule to-day
fnconsiderable sales for nearby ship
meuts and the feeling among producers
and consumers that the markets are go
ing 10 Jog along on about the present
basis o consumption well into the sum
mer- Western New York foundry irou
No. 2x. IS at S1&50GSl575 for furnace
deliveries for prompt wants. Producers
are disinclined TO enter business at rul-
ing prices for shipment beyond April
Eastern Pennsylvania No. OK Is at SIS
g s--re
Several Southern blast furnaces ars
feeling :he effect Of the dull markets
IN Increasing stocks at yards. and fol
that reason are proffeTing buyers foi
prompt shipments foundry iron on the
basis OF $3.50 for No. 2 al furnaces. Ths
larger Southern furnaces are holding ou
for S13 Steel-makiEg iron Is unchanged
On the whole. the situation is a littlc
better under demands from steel maker.
who are fairly we'll provided with busI
ness from the Southwest and South.
Steel Trade Reductions.
The changes in official prices OF severa
kinds Of steel and steel products hav,
been in actual being for almost q fort
night, as told al the time by the Wal
Street Summary. Hence the reduction
made within two days were discounted
and had no appreciate effect upon thi
markets for crude, semi-fnIshed an,
finished steel Very little business tia
calls FOR large tonnages Is being closed
The plants which produce s. per cen
OF the nations steel ara averaging en-
ployment 20 the degree Of 50 pei. cent O.
potential capacity Farm machinery
wire, wire fencing, nails. and sheet stee
are the Hveliest articles on the markets
The railroad interest IS doing little buy
ing. The large orders for rails reported
by several newspapers are made I'D o
items that were set forth as sales ss earl
as the beginning Of the year
Copper Market Steady.
The domestic copper markets are qule
at 13 cents pound for electrolytic an,
125sc- for prime casting copper. Lake &
sluggish at 15c. 915Kc. The weeks ent
saw more interest IN sales for foreig7
shipment. due 70 requirements Of German
French, and Italian wire-drawers ans
makers Of fungicide
Domestic copper markets are dull. ex
cept In a number Of trades that work To-
the building interest. In which q eoos
deal Of business is going on in sheet COP
per products. architectural bronze an,
copper and brass trimmings. The wire
drawers are doing a little, and the rolIer
Of sheet copper and brass report comm,
well toward the end Of the large order
booked sixty days ago, and no business o
importance IN sight.
Producers OF lake copper have lon,
been faTing better In making sales thai
the electrolytic interests. -Four lake COP
per producers are well sold up
silver Goes to Asia,
The shipment 20 Asia Of a large ton
mage or silver IN the forms Of tngots. an,
20 be held there for account OF dGmesti
owners against the predicted revival o
silver buying at Hongkong and Shans
hsi. is the only note OF interest that mar
ed last weeks market. Europe Is show
ing little interest in the metal. thougl
engagements for shipments 10 the Strait
Settlements and 10 East India are zoini
on at fair t0nnages
IN the silverWaTe manufacturing In
dustTies domestic trade is very good
The volume Of consumption therein 4
now going on ar 100000 ounces a year
IN Germany. France. Austria. and Eng
land a fair degree OF Improvement is 20
ins On in the consumption OF silver b,