We studied the conductance of atomic-sized wires of iron made in a scanning
tunneling microscope (STM) at 4.2 K, The conductance was measured as a fun
ction of the displacement between the iron substrate and the STM tip during
the elongation and compression of the wires. The observed conductance curv
es were quantized, and some of the steps in the conductance curves display
hysteresis for repeated displacements. The unit of the quantization is e(2)
/h as expected in ferromagnetic materials. A magnetic field of up to 150 mT
hardly affects the conductance. These results are discussed in terms of th
e ballistic transport accompanied with the sudden atomic rearrangements and
the continuous deformation around the wires.