New-York tribune., 1907-06-07
ACTTVITY IN IRON TRADE,
No Indication Of Reaction among
Mills and Furnaces.

Pittsburg, June 6,-Despte rumors in the iron
ana steel market abroad, as well in this coun-
try canvass Of the industry warrants the state
HeIt thdt the last half OF 1901 the first half OF
the year 1903 will witness the largest producing
capacity In the history OF the United States and
Canada 1t IS estimated that new furnace con-
stFucton viii add at least two million tons 10 tho
prospective capacity OF the country Last wear the
local output Of all the furnaces Is $4,000 tons
corresponding stimulus. II is said will benefit
the coke trade inasmuch as 1t is estimated that
tho new pig iron furnace capacity will consume
the product OF between 5000 and 1000 coke ovens
1t s stated that information which Is derived from
official sources should have a reassuring effect
upon business men who have had reasonable doubt
to the maintenance Of the wonderful degree OF
prosperity which characterized the industry last
year.
The cause OF the shutting down OF furnaces at
a time Of actual famine in pig iron" said an ex-
port in the trade, lis well understood by men con-
nected with tho business II is OF necessity,
supcrnduced by a little lack of confidence last
year. There were comparatively few persons who
had faith in continuance OF last years activity
IN the iron market. During the closing months OF
1906 nearly everybody was willing TO admit there
wPuld be a reaction in 1901. Producers OF pig iron
therefore. booked orders for this years delivery
under the impression that current demand would
fail off, and rushed production with the idea that
there would be plenty of leisure this spring and
summer for long delayed repairs. The lull in cur
rent demand did not occur, and q consequence
OF overcrowding furnaces all last year needed re-
pairs now more and more imperative"
Following is a list OF furnaces either under
construction or for which work has just begun:
Jones & Laughlin. Allquippa, Penn;-Three fur
Duquesne Steel Works-Two furnaces which will
be ready for blast by the first OF the coming year
National Tube COmpany-One furnace McKees-
port and one at Lorain, Ohio. will be blown in
during the last quarter Of 1907.
Carnegie Steel Company, Carrie furnaceS-Iwo
furnaces just finished and abou: ready to be blown
indiana Steel Company. Gary-Four furnaces, 10
be ready for blast the first Of 1905 and four
for the second quarter
Federal Furnace Company, Chicago-One furnace
which will be completed about the end OF the
rent year.
which will be ready September l. 1907.
Inland Steel Company, Indiana Harbor-One fur
mace, which will be in the producing list during the
last quarter OF 1901.
Shenango Furnace Company-One furnace now
nearing completion and probably be ready to blow
in by September.
Hamilton Steel and Iron Company. Hamilton
Ont.-One furnace which will be ready not later
Hamilton Iron and Steel Company. Hamilton
Ohio-Oue furnace. TO be blown In by the second
New York State Steel Company-One furnace 10
be completed within the next ten months
Carnegie Steel Company, Youngstown Ohio-Two
furnaces now under contract. to be completed by
June !. 1908.
The following companies have plans for new
work, but have not yet begun construction:
Youngstown Sheet and Tube Company two fur
at Black Lick, Penn; Wickwire Brothers BufraIo
one furnace; Pennsylvania Steel Company, one fur
mace at Steelton Penn; and the Algoma Steel Com
pany, one furnace at the 500"
The foregoing does not include any new work
planned by Southern iron and steel interests