THE IRON MARKET.

New Zealand Herald, Volume XLIX, Issue 15094, 10 September 1912, Page 4

THE IRON MARKET.

BOOM CONDITIONS. The steady advanco in the value of pig. iron is leading the more optimistic to believe that a " boom " in iron is inevitable. The Ironmonger, commenting upon tho position, says that conditions are not unfavourable to tho appearance in the autumn of what is called a " boom." The Ironmonger asks if such a thing does come to pass, what will tho United States do There is, . according to this authority, no likelihood of " boom " conditions occurring in America this year. The political situation in the Republic will prevent anything of the kind, for with one of the two great parties in the United States in the melting pot, and the probability that the official Republicans will be ejected from office, it is impossible to conceive a trade boom. The dissentient Republicans, under Roosevelt, are openly opposed to the great financial interests that have so long had tho great American Governments in their pockets. The Democrats have always been heterodox in financial matters, and so far ns can be judged, whoever may win there will be an end politically of Mr. Taft, and with him, for the time being, of the " bosses " and tho trustmonger.". A position without precedent may thus arise in the iron market. Finished steel is much cheaper in the States than in Europe, and in the event of a further great rise in England, the difference in price will become a disturbing and possibly dangerous factor. There are great practical difficulties in the way of supplying Europe with finished iron and steel from America, and a considerable advantage in quotations must exist before an attempt to overcome these hindrances can be successful. But business 4 men know that difficulties believed to bo insuperable give wav to the all important influence of price and that, given enough money, it is easy 'to accomplish the apparently impossible!. ______