The Collaborative International Dictionary of English v.0.48:

Run \Run\, a.
   1. Melted, or made from molten material; cast in a mold; as,
      run butter; run iron or lead.
      [1913 Webster]

   2. Smuggled; as, run goods. [Colloq.] --Miss Edgeworth.
      [1913 Webster]

   Run steel, malleable iron castings. See under Malleable.
      --Raymond.
      [1913 Webster]