The Birmingham age-herald., 1909-06-03
FINE OUTLOOK IN
 IRON AND STEEL
May Business Has Been The
 Best In Two Years
WAGES ON HIGHER BASIS
Pig Iron Is Strong But Sales Are Not Yet Large-Business In Struc- tural Steel Is Better With
 Prices Generally Firm.

Cleveland O.. June 2.-tSpecial)-The Iron Trade Review tomorrow will say:
 May was the best month in two years for many iron and steel industries. and the prospect for even greater activity is very favorable. It is estimated that the blast furnace and rolling mill capaci- ty of the country is now being operated al about so per cent of the production of 1907 and that with the growing volume of railroad orders the percentage will eer- tainly increase
 Tn the Chicago district the leading in- terest booked orders for about 5000 tons of steel for shipment before October 1 and actual specifications considerably in ex- cess of the capacity of the bar mills at Bayview. were received. Current orders for plates and shapes exceeded the ca pacity of the mills of the Illinois Steel company, and similar reports come from Pittsburg and other manufacturing cen ters. Specifications received by one of the large independent concerns ran far ahead of the steel capacity of the com pany, in both April and May, the latter month showing a large increase com pared with April. Careful investigation demonstrated that there is very little spec ulation in all the buying that has taken place. The exceptions to the general rule of satisfactory conditions are fur nished by rivets. on which competition is fierce and prices very low, and by shafting, on which competition is keen.
 Wage restorations in Pittsburg and the valleys are general.
 Pig iron is strong, but with the ex- ception of continued sales of the basic in eastern territory. sales have been neither large nor numerous. The outlook is for somewhat higher prices. The test of the southern market will probably come about July 1, when many new con- tracts for last half delivery will be made.
 May bookings of structural material amounted to about 225,000 tons, of which 10000 tons went to independent interests. Prices for plain material are firm, but there is still considerable irregularity in fabricating and erecting prices.
 "The New England Structural company has taken the contract for the Boston and Albany Grain elevator, South Bos- ton, calling for 5000 tons. James Stewart received the contract for the Puget Sound Realty company building at Denver, 5000 tons, and the contract for 5000 tons for the Utah hotel, Salt Lake City Is re- ported as placed with the American Bridge company.
 "The steel for the Boston store in Chi cago, 4OO0 tons, will be fabricated by the South Halstead Steel and Iron Works, and will be held until the owners are ready to proceed with the erection. This order is significant as showing a belief that prices will advance. Similar action may be taken in regard to a Chicago warehouse, calling for 5000 tons of steel.
 Among the contracts awarded by rail- roads within a few days are the follow ing: Pennsylvania Tunnel and Terminal company. 2300 tons to Louis F. Shoe maker; Grand Trunk system, 700 tons to the Pennsylvania Steel company and HOO tons to the Wisconsin Bridge company, the Seaboard Air Line. 1900 tons to the Pennsylvania Steel company. The Rock Island has also awarded POO tons of bridge work. Many inquiries for rails and cars are pending."