New-York tribune., 1909-09-02
STEEL INDUSTRY BOOM
T.. S. Corporations Output NOsc
Equals High Record of 1907.

The net earnings 81 the United States Steel Cor
poration based on the results I'm July and August
viii amount 20 upward of $3SONOoO IN the current
quarter, against little moro than $50 000O0o I'm
the three months ended juno 80 The corpornton Is
producing ~ about the Same rate tho high
record 81 1907
Reports for Aupust show production and sales
~ between galos and $50 0no tons tho best since
october, lso, II prices had been the same
level as in October 1oo7. earnings for the last
month would have aggregated about Sl6.00Oce. the
actual figures being placed I'm the neighborhood Of
G2.S0co0.
Regarding the current steel situation in general
there appears TO be no decrease in the demand
from any quarter. the inquiry for bars and billets
being particularly heavy. Steel hllets are now
being solo 10y Eastern steel mills S26 70 a ton
which is s. a above the base price. while Il is
reported that consumers are compelled pay
premium for material for prompt shipment. Higher
prices for most lines OF finished materials are
looked for in the near future The Iron Age
in its weekly review OF iron and steel trade Condi-
lions says.
$soA Ole recently IL ls estimated that during the
last ItN Weyhs ihete have been sales OF fuily
loJ tnis yeaf uviNeiN, - - Tor non-Bessener
Mesaua ana - 90 Ior nou-bessemer od range ores
IN the last tnerC nave been sal recently Of 25o,
@ ~ IONS IONS ~ " aoana orc. following the pi2cme ol
'onlid,'s igl Spanish and Sweolsn ores II Is es-
uinaied that the lmPorlauOns OF foreign o.e which
are up Lgty.,p' IONS Iu TACT il looks as Though
very htte Iahe ore will be taken by the furnaces
There has been further activity IN pig iron
tTuuEnCuj The country. and considerable purchases
LaNe uCtE made, both Tor lhs years and n-Nt
sea. d'lIltiN- The leading southern interest has
opened us books FOR 1919 81 S14 Birmingham tor No
:, but As Yet no heavy tonnage appears TO have
3 eli placed. Ia Eastern PENNSYLVANIA foundry iron
juf iflls wears delivery has advanced further and
Is nov firm on the basis Of Sl7 for No. furnace.
There have been round sales for delivery well into
stlh % WV England meltc s. In the Buffalo dis
fTiCf SIS = Is raW the minimum. hut ~ the
leading Interests are asking more Negotiations
1or round tounaEes pending IN that district
The leading holder OF Nircinia's foundry has sd-
NanCed his price TO SlS the furnace.
The Iron Trade Review says.
Great activity OF furnaces and mills continues,
and the only check boinE placed upon the rush ~
orders is due t1 conservatism OF sellers. who regret
tht somewhat feveriSh tendency noticeable in some
quarters. Owing TO the advancing quotations on
he next wear. furnace interests are slow TO make
quotations. when they do naming con-
sideraby higher prices than have recently pre-
walled. The sale = 10000 tons Of Newfoundland
other important transaction 10 the sales ~ foreign
ore recently maue 10 American companies. II y
SerEatiNtly estimated that The total movement
NJ ore next wear from cuba, Spain and Nevfound-
land will amount more than 2"o1eoo tons. I'M
uoriatious of Spanish and Swedish ores have IN
creased heavily.
sales of dnerent grades of uir iron IN the Pitts
burg district during the last week amounted 10
furly 5000 tons. An important factor OF INC Week
has been tho heavy buying II basic 90 nc fhlla-
derrra district where about 25.oNl tons were CON
-vartef FOR aud Al.uf tons in the Cen'ral wet
steel camnaries i- the Philadelphia district have
1.aer endcayorinC 10 buy basic in tlc Pittsourg
district. while meters she Central " eSf nave
sent INQUIRIES long distances n tho hone ~ getting
raeic required for the remainder o' this Year