The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1909-01-17

Quiet conditions govern all domestic
metal markets. No large orders for pis
iron. steel, copper. lead. zinc. spelter. or
tin have been placed within a week,
stock-taking and the opportunity that Is
being used By the metal trades Of low
prices for contract work in the repairing
OF shops. mills. and warehouses has
brought about the laying of Of several
hundred thousand metal workers until
late In this month.
Many large plants that shut down for
repairs the first OF The month are as
sembling metals under contracts placed
thirty to sixty days ago. and expect to
start I'D mills on Feberuary / N0twith-
standing the quiet conditions in ell metals
prices are well sustained. and the min
ers, reaners. and distributors OF metals
anticipate a fairly good spring trade
In number Of lines OF metal nanufac-
lures. more especially In light machinery
and the lighter forms OF iron and steel
products for the railroad and manUfac-
turing interests. the cutting Of prices that
has gone on for several weeks has
brought about conditions Whereunder
scores Of Woodworking plants are, hard
" getting new dollar for an old one.
In a number OF the larger metai-con-
suming corporations that work for the
railroads and the textile and mineral
industries the amount Of work on hand Is
so small that high factory costz must be
assessed against the output. This has
brought about marked reductions IN the
stock markets Of between thirty and forty
kinds Of securities based upon iron. steel,
copper. brass. and lead-working plants
Pig Iron Moderately Active.
The domestic pig iron markets reject
a small degree Of activity n bookings OK
small parcels-2oo &c so tons. Consider
ing consumptiye demands upon the basis
Of population. the highest degree Of pig
iron consumption is going on IN the West
and Southwest. and among Eastern con
sumers Of pig iron. who work largely for
Southern and Southwestern markets.
4 number Of manufacturing corpora
tons that until recently found foreign
markets for some Of their low-priced
products relate that those sources Of
business are being closed up under re-
cent foreign tariff enactments and patent
laws which are closing several once good
markets for American goods Several To-
cal, Brooklyn. Connecticut. and New Jer-
sey factories which until few months
ago melted fair-sized t0nnages Of pig
iron for machinery sold in Great Britain
and Germany have lost that trade as the
goods being patented must be made in
those countries.
Product I-705-OOO Tons a Month
While there is a good deal Of complain
ing by blast furnace operators as 20
trade conditions. the fact is that present
production Of pig iron is going on al
the volume Of I.7s5.010 tons per month.
which is 200 tons in excess OF the phe-
nomenaI output for June. 1915. a year
that tested the productive energy Of the
steel and iron producers as never before
AS a matter Of fact the pig iron trade
is rapidly gaining in volume But as
most OF the blast furnace and steel mill
operators measure business only by the
abnormal degree Of production that con-
ditioned the last boom. they fail 70 see
that that business has been progressing
for four months along lines that viii con-
verge into high activity in March.
Pig iron prices are steady and IN
changed Eastern Pennsylvania, foundry
No. TX. is at S16a1650 at furnaces: South
eTn foundry No. iS AZ S13a13-50 at Biz
mingham- MahOning and Shenango VAL
ley steel-u1aking irons are quiet at Sl525a
1915. at furnaces.
Steel Trades Somewhat Dull.
The principal steel mills are booking
very little business. and the prospect
IS not frightening as TO employment from
the railroad interest. which under nor
nal conditions consumes about one-third
Of the steel production made by the great
er steel mills. Steam and electric rail-
road building plans 70 be carried out
this year are few. Sound projects that
call for the building Of about enough
tracking 10 require I $4,000 tons rails are
pigeon-holed IN engineering Offices on &C
count Of the disturbance to enterprises
that invariably accompany proposed
changes in the tariff.
Concerns like the United States Steel
Lackawanna, and other big steel rail-
makers who control s. per cent Of the
nations rail production cannot make
money unless mills are circumstance TO
run fuI time Tor long periods. With
little business in hand and with few
probabilities for good contracts ahead
the outlook is blue in the steel trade,
Copper shows Improvement.
Foreign copper markets are better cir
cUmstanced than the domestic consuming
interest The bulk OF the business. booked
last week by the principal copper pro-
ducers was for Great Britain. Germany.
France, and Belgium. For home account
few round tonnages were closed last
week. except one for the great copper
rolling mills in the Naugatuck Valley;
two for the Chicago district, and a large
tonnage Of casting copper for the Pitts
burg district. The domestic Wire-drawers
are duh and see no immediate likelihood
Of an uplift, as the electrical engineering
trades are quiet Prices for Copper. are /
firm at 14isai4ssc. for lake; electrolvtlc. /
141zc; casting, 14zsaI41zc
Reports that A No. electrolytic car. be /
had in large t0nnages at 1qkaI4Sc, and i
canards issued by agencies for speculative /
interests that have no copper for sale, /
except very small lots Of worked over
from old junk material.