New-York tribune., 1907-11-21
LNA Ct --gIAs
| asked prices were:
IRON TRADE CONDITIONS.
..The Iron Age" SAYS:

ne iron age says.
There is q slightly better feeling in the iron
tion OF the problems facing IL. One fact is being
realized. and is reflected in the order books of the
producers, and that is that both consumption and
buying continuing at a rate which appears to
be somewhere between 50 and Go per cent of full
capacity. The buying is in small lots usually and
only the orders OF those are booked whose accounts
on former purchases are IN shape satisfactory to
the seller More business for actual consumption
could be booked, so that there is a good deal of
tonnage IN abeyance, OF which considerable pro-
portion viii be entered as the financial
scare IS over. In the mean time production is
being curtailed- The closing down OF works is
heralded far and wide. but the restarting of some
Of them within a few days is not recorded. The
Steel Corporation shows operating 65 per cent Of
Its blast furnace capacity, and probably VIII reduce
further until about 80 per cent is reached. Other
interests are similarly reducing output. Wide cur
rency has been given 10 the statement that the
Steel Corporation has ordered the blowing out Of
all the blast furnaces Of the Tennessee company,
which makes merchant pig iron, and that the new
owners would not continue in that branch of the
business. The facts are, that since the United
States Steel Corporation has taken possession not
a single additional furnace has blown ont, and
that the corporation win continue TO be seller
Of the Tennessee company's coal, coke and mer-
chant pig iron The pig iron markets have been
quiet, and while prices have been irregular and
generally lower. the situation has not been clearly
oenned Sales or Southern NO. have been made
on the basis OF SIG p TO SIG 80, birmingham, while
in the Central West foundry iron has been offered
at about SIS 80 al furnace. Some low figures have
been made on Connellsville coke, the natural re-
structural material there has been some new bust
ness. aggregatnE close to 5000 tons, for the Pacific
Coast and pier work n this city. IT under
stood that about $500 Of structural work for
the Gary plant Is reaching the shop, being for a
part Of the second unit Construction work at Gary
IS proceeding steadily along the lines authorized
early in the year"
THE Iron Trade Review" says:
Cancellation Of contracts. suspension of opera
tfons new plants and further sharp curtailrnent
production by many iron and steel concerns have
been leading features of the week. The United
States Steel Corporation has thirty-seven
furnaces out OF blast and two banked and nde-
pendent interests. especially In Eastern PennsyI-
vania. following similar policy. The Jones
e. Laughlin Steel Company has stopped work its
new plant at Alequippa, Penn.
a general readjustment of wages is forecast by
the action OF several Eastern furnace companies In
reducing the pay Of their employees 10 per cent IA
foreign aboTers in iron and steel works return
ing their homes across the ocean. Although
there few favorable indications. IL should be
noted that not infrequenty mills which have sus-
pended operations find 1t possible to resume tenn
poraTily as orders are received. There are
some reports OF improvement in collections and of
slight change for the better in financial affairs
Work the building of the great plant at Gary
continues without interruption
Some Improvement IS noted in the structural
material market II is announced that specifications
against New York pier shed contracts will be
placed with the mills at the rate Of 1000 tons 4
week among orders recently placed are those
for the Whitehouse building, San Francisco, $500
tons, which went TO Miiiken Brothers, and 1900
for New Orleans hotel. The Corn Products
Company has announced its intention proceed
with the erection Of its large plant at Summit Ill,
which vii! require about 10000 tons of structural
material The pig iron 1Iet has shown almost
no Indications Of life"