New-York tribune., 1909-03-25
THE IRON AND METAL TRADES.

The Iron Age says: TOO much pig iron Is
being made and metal is accumulating in nearly
all the principal producing districts. Prices are
weak but the market has not been seriously tested
in any Of the leading Distributing centres It is
acknowledged that large Birmingham interests
have endeavored to secure orders for good ton
nages on the basis OF 81 q ton for No. 2 foundry
but have not met with success. Eastern pig iron
makers are comforting on means of reducing cost
of production, there having been gathering OF
Lehigh Valley and New Jersey makers in this city
on Monday, and there being meeting OF the EAST
Pig Iron Association in Philadelphia to-day
Efforts being made to secure reduction or
railroad freights coke and ore, and to bring
bout a readjustment of wages. The only business
Of consequence done lately has been in New Eng
land, where the makers of textile machinery VINO
busy have been the principal buyers. In that
territory Buffalo is selling the basis OF Sl4 % at
furnace, while the lower prices made by Alabama
makers give them an advantage at points close 10
Boston and Providence
While it is not quite certain yet IT is prob
able that owing TO lack Of work the Ensley steer
plant of the Tennessee company will shut down
early in April. The Ensley furnaces In that case
will also blow out, since it IS not the plan to turn
them to making merchant iron. Low prices
81 OS Eastern mill is reported on q recent
large contract. Although sCme low bids were put
in by American makers on the contract for the
structural material for the new plant of the IaIa
Iron and Steel Company in India, the business was
lost to a Glasgow shop, which went conslderaoIy
lower. The steel rail trade remains quiet anu
there are inttnations of a coming lowering in the
price"
The Iron Trade Review says:
Gloomy feelngS pre0OnlnalS IN Tue lloH
This condition is due in part the proposed radi
cal reductions in the tariff iron and steel prod
ucts. and TO the expectation that a number OF
months will pass before the tariff is enacted into
a law. The pessimistic sentiment may also De
attributed in part TO the failure OF recent reduc
tions in prices 10 develop any large amount or
business With the demand for finished productS
limited and many rumOrs of cutting OF prices
with pig iron stocks piling high the market YER YER
dull and prices weak. and with the expectation
OF army plants being closed and n general redIc-
ton in wages. the prospect is far from pleasing
70 both employers and employees. Unless business
improves within a few days. the great steel plant
Of the Tennessee Coal. Iron and Railroad Company
at Ensley will cease operations about Aprtl l. ana
Il is not improbable that number or other steer
plants Will become idle. Much more general re-
auctions of wages than have yet taken place seem
TO be Inevitable. Owing to the large accunula- :
tions of pig iron, and the almost entire lack OF
interest Of buyers and the weakness OF prices an
EFFORT TO bring about concerted action in curtail-
ing production in the Pittsburg district and the
Maboriug and Shenango valleys Is being made
Similar action is expected IN the East where CON
ditIons are more unfavorable than genetally sup
nosed Foundrv pig iron is selling in the South
al from SlI 10 s11 80 for No ?, and lower prices
are prevailing in the Central West and IN the
East.