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Show BUYING MQVEiilENT IN IRON TRADE CONTINUES TO BREAK ALL RECORDS NEW YORK, Sept 28. The Iron Age today eays: The pasVweek has' carried further' the remarkable buying; movement move-ment that burst upon the Iron market two weeks ago and the tonnage it easily easi-ly the greatest for a tingle month in the history of the trade. While there are evidences of excitement here and there, business tor the most part hat been done In an orderly way and veterans vet-erans In the trade refer to the present market at the greatest in which they have participated. ' The United States Steel corporation hat bought 40.000 tont of Bessemer iron at $15 at furnace, for delivery in September Sep-tember and October. The corporation It expected to be a buyer of Bessemer at the rate of 40,000 tont a month well Into next year. The total of itt pur-chaaet pur-chaaet in September Is 80,000 tons. Bessemer iron is now squarely $15.50 at Valley furnace. In the foundry iron ; trade a prodigious business has been reported, and leading Southern sellers have booked a record tonnage in September. Sep-tember. The largest teller Is reported to have - taken orders for 100,000 tont last week. Northern sellers have been exceedingly busy-also,- particularly-1 in the East and Central. West. In the Central Cen-tral West the minimum hat advanced from 114.60 to $lfi at furnace for No. 2 foundry. Western buyers of basic Iron have taken 60,000 tont additional, and the market it very firm at $1 delivered.. 1 . Coke manufacturers have advanced prices and 'ar chary of long .commitments.. .commit-ments.. Contracts for Connellsville furnace fur-nace coke have been made at 12.50 for the first half of 190C and other contracts at 12.60 are pending. Lake Superior ore Interests are already al-ready discussing higher prices for next year, and aalet are expected before the close of 1905. Rail buying and railroad equipment demands are still the backbone of finished material markets. Fully 125,000 tont of rails have been booked in the week. Including 10,000 tont for the Central Cen-tral of Georgia, 20,000 tont for the Northern Pacific and 40,000 tons for the Rock Island. More rails than ever for the Southwest and Northwest will be rolled in Pennsylvania next year, the Chicago mill being filled up to November. Novem-ber. 1906. The stringency in structural material Is more marked and Chicago Jobbers are now shipping far afield, reaching both coasts. Plate mills are a close second sec-ond to thape mills In the matter of conge action and an advance in the plate base is considered imminent. In important finished lines September sales exceeded all records. |
