Steel and Iron Volume 76, No. 19 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1905 Excerpt: ...that the second half of the year is to be as strong as the first six months, and the majority of the trade agrees upon that point. Except for new business in plates and structural, supplemented by additional tonnage in rails to complete earlier contracts, there is nothing of moment in the steel situation, and there is nothing encouraging in the iron market, which puts the case into rather confined quarters. In fact new business in any line is at a minimum and as the consumers are daily proving that they propose to wait out the situation to the end the future presents nothing ot promise. In fact it looks like a lime of rapid ups and downs, with quite as many downs as ups. The market is in the hands of the consumers and prices are to come down to their terms before much tonnage is placed except that which cannot be delayed to allow the completion of contracts under way. The check to the weakening in prices in iron by the purchase of the Cambria company;is only temporary, but even today, good business would take iron at 25 cents per ton less than current quotations which stand because there is not enough busness to make changes. Chicago.--The situation in pig iron is scarcely changed. The larger Southern producers are holding to the 813.50 Birmingham basis, ostensibly at least, but there are a number of smaller producers, who are shading the market 25 to 50 cents. On the surface there is very little doing in pig iron, even by way of inquiries. But of the latter there are a few. These inquries do not readily transform themselves into orders. Either the prospective buyer is disappointed because he does not obtain the reduced prices expected, or he deduces from the shaded quotations obtained, the possibilities of further declines and decides to bide bis time for a..