Rensselaer Republican, Volume 17, Number 24, Rensselaer, Jasper County, 19 February 1885 — IRON AND STEEL. [ARTICLE]

IRON AND STEEL.

The Trade in These Metals Looking Up. [Philadelphia telegram.] A general improvement has overtaken the iron trade of the East, and is showing itself at present in an active demand for nails an improved demand for bars, andan active demand for bridge and plate iron. Nails havd'advunced to $2.15, and will likely advance to $2.20 or $2.25 within ten days, owing to the fact that there are no stocks to fall back on, and all tbe factories have been curtailing. Bars are SI.BO, and active, and inquiries are arriving .shewing that a good deal of business is to be done. Beams and channels have been reduced from 3J cents to 3 cents, and negotiations are pending for 3,000 or 4,000 tons of material, for which inquiry has been hanging on the market for some time. It is probable that the next large sales of steel rails will be made on a basis of $27, or possibly less. Small sales are made at S2B and $28.50. Crop ends are selling at S2O; old steel springs at $lB, and old rails at sl7 to $17.50.