| Show REVIEW OF IRON MARKET cleveland 0 aug 29 in its review ot the iron situation this week the iron trade review says apart from the strike the most significant ant feature 0 the market in the beok has been the inquiry tor steel rails tor delivery in 1902 and some sales are already reported that a number of prominent roads are negotiating indicates that the 28 price will not be resisted as was the 26 figure this year and that there is confidence in tho continuance of strong conditions of today it is expected that considerable sales of rails for next boar will be announced in the near future the effect of the strike at central western deteel plants Is seen 1 an advance in billets 25 being the general minimum on any early deliveries no large business has been done however the situation in rods which has recently been rather weak because of the starting up of new plants has grown somewhat firmer tinder the shut down at joliet a breakdown at one central western plant and delay in starting another the market is now quoted at 34 pittsburg mill finished material in all lines shows sustained strength and tho end of the strike will no doubt bring heavy buying though there are surprisingly good orders considering existing drawbacks the scarcity of wrought pipe has led to advances by jobbers and independent mills and stocks in second hands are being rapidly cleared up high prices for tin plates continue and while stock sizes can bo had at 7 fancy prices have been paid tor special plates no considerable sid erable shipment from tho other side Is expected until late in september sheet mills have increased their output but jobbers stocks are the chief dependence bars have held a steady price and are not likely to go higher plate mills havo had good orders from ship yards lately but the demand for steel car building will not i be so heavy in the tall months from present reports structural mills are under continued pressure and are three months behind orders the pig iron market la quiet tho best buying being in foundry grades on the latter prices are somewhat stronger and buying is freer and tor longer periods general business conditions havo shown an improvement in the week heavy grain exports which arc to continue a less pessimistic view of the corn yield and cumulative statistics all proofs of railroad prosperity have reinforced the strona points in tho iron situation |
