The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-07-12
IRON TRADE review.
Consumption Is Keeping Pace With
Heavy Production-The
Years Output.

New York, July 11-Discussing condi-
tons In the iron and steel trades. the Iron
Age says:
Our monthly blast-furnace statistics show that
there has been a decline in the weekly capacity
Of the coke and anthracite furnaces from Osssl
tons on June to 3o3 1913 tons on July I. while the
stocks Of pig iron in the hands Of the merchant
furnaces declined from s33.s13 tons on Juno ] to
S27.76l tons on Julv l. In other words. produc-
ton and consumption nearly balanced. From all
quarters como confrmatory evidence that the
consumption II phenomenal
Thus a leading official Of the United States
Steel Corporation reports that that concern IS
producing steel ingots at a rate which makes
an output Of 10, 100000 tons likely this year.
Independent Mills.
While statistically the situation Is exceeding
ly sound there Is throughout an uncertainty and
an ill-defined feeling that we are on the top OF
the tide, and that We may see slowly receding
values. In some departments deliveries are be-
coming prominent. premiums have disappeared
and there is more disposition to hunt for busi-
ness. In others. notably in the wire trade. how
ever. the growing tonnage Of the independent
mills is beginning to tell. wire rods are beins
burg. new s9 sellers small though they Be-
It is believed that good deal Of the wire
nall capacity under construction will soon be
available. In May 1t was estimated that out OF
season. io.ooe kegs could be covered BY outside
mills. The latter figure will be much enlarged
before sixty days have passed.
Steel Rail Business.
The steel-rail mills have opened their books
for orders for delivery for the coming year. at
SIS per ton. which is the price now prevailing.
From the standpoint OF the mills the situation Is
very strong. In reality there are only four par
ties now, tho United States Steel Corporation.
the Pennsylvania Cambria interest, the Colorado
and Jaones and IaughIins. Limited The Lack
awanna will not be in shape to resume at Bufia-
ing OF the Tennessee company Is too indefinite
to allow them to become a factor for some time
to come. AS yet little business appears to have
been booked, and probably the Southern roads.
which lay the year around. are likely 70
come in first All the mills are crowded with
work and will probably not be able to touch
new business Of Importance before November OF
The feeling in the trade is that the differences
between the Amalgamated Association and the
union mills OF the United States Steel Corpora
ton will be very promptly settled, since both
sides have much to gain from a continuance Of
The lowering in the price Of sheets does no,
Very little IL being done for export.
There is a report current that a sale OF Z5.0t
tons Of ship plates had been made for delivery
at Belfast yards. but It IL met with an authorf
tative denial. The private accounts OF the stu
alton in the German iron trade continue yer,
gloomy. Drastic measures may be necessary
The London tin king has given little exhi
bition of his power over the spot market earl,
this week. sharp rise has been followed. how
ever, by rapid break.