New-York tribune., 1909-03-04
BIG STEEL CONTRACT
FIRST IN OPEN MARKET.
Placed by n. Y. Central soith -Four
Concerns for 1O1 900 Tons of Rails.

The first large contract to be placed with the
steel companies since the open market declaration
Of the United States Steel Corporation was an
nounced yesterday. 1t for 10000 tons OF steel
srails for 1863 delivery, and was placed oy the Ne"
York Central Railroad. 10000 tons to be delivered
this month and the remainder by August !. Inc
price TO be paid the rails was not gwen out as
the steel manufacturers have said ever since the
price war in finished steel products began that the
price Of steel rails would be maintained at S-S
ton It is believed the order was placed at that
figure.
The contract was distributed among the rail
manufacturers as follows: Lackawanna Steel Com
uanv 81 GO tons; United States Steel Corporation
1850 TONS Algoma Steel Company. of Canada. 800
tons. and the Bethlehem Steel Corporation Zeo
tons The rails made by the Canadian firm. it was
said. would be laid in Canada on the INES oi the
Michigan Central.
W c Brown president OF the New York Cen
trail who announced the placing of the order. said
that the rails would he the best that the com
pany has obtained for twenty years. The rails VIII
he manufactured according to the New York Cen
trails revised standards. adopted last year. These
call for a somewhat slower process OF manufacture
than the recognized Bessener practice. Part OF
the order is for open hearth rails. An experiment
will be made on a large scale in the use of some
rails containing certain proportions OF terro-
titaniun. the use of which a small scale mas
already given good results.
Although the above was the only important order
naced several small orders for finished steel prod
the leading steel companies yesterday. Reports
that the Pennsylvania and Cambria steel COM
panies had made a cut in wages similar to that or
the LaCkawanna company were denied az the or
fees of those companies. It was admitted, now
ever. that reduction was being contemplated.
In speaking of the reduction in wages by the
Iackawanna company. The Iron Age in its issue
to-day says:
The same action has been taken by. number Of
Eastern Pennsylvania rolling mills and steel works
II Ia HEaIv tb4r
be generally recognized.
In regard to general conditions in the trade 1t
says:
In some respects the situation has cleared during
the last week, and there may be named as the
prices ruling 81 20 for steel bars and - SO Tor
plates and shapes These. however. are not infiex-
iole. and some concessions nave 6e4n rade 10
cago reports sales of 10000 tons Of plates. while
an Eastern Pennsylvania mill has placed a lot Of
10000 tons. Some OF the plate mills particularly
in the East. decline to meet the Ptttsburg basis
IT is not quite certain whether the material has
For the present prices are unchanged in the wire
trade and in fact concessions far less frequent
cerned In the tlnplate trade there has been no
change in prices. The pig iron markets are very
ing made without. as yet any Serious testing Of
the market One brighter feature in the situation
is the prospect of good demand from the largest
single foundry ro9 consuming Interest od the
50 in the Nlahoning Valley.
Speaking OF the danger Of foreign competition in
the event of drastic reduction in the tariff on
steel 1t says:
A closer examination of the figures at which
& stee @ bars eSa m Se e a at Ne~ 6p
Antwerp I.10 cent a pound, New York. ex-
ponnd we're l cut in two Fhey could enter at
cents against cost OF domestic bars on the basis
cents So drastic Gut in the bar duty as reduG,
Ing Il to % onef so-s wod s re lay S open & t the
Gently made at home