New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-03-03
STEEL AND IRON TRADE.
The Iron Age" says:


The Improvement in the iron trade, of
week. is still largely a sentimental one
Some of ii is due no doubt to the coming
on OF the active outdoor season. but there
is also the wearing off of the scare that has
been so largely in control since the opening
OF the year. 1t cannot be said that the
large steel interests are now booking more
new business than was being taken fort
night ago, but they see more in prospect.
There has been some buying of pig iron. for
the most part by large consumers, and the
business has been of the sort that brings
prices to new low levels.
In foundry iron one important buyer has
taken about 5000 tons for Eastern plants
and is still in the market for $500 tons
Radiator concerns have been in the market
for about 1900 tons. of which a small part
was closed. A cast iron pipe company has
bought about 20,0o0 tons of Southern IRON
but this is really the renewal of a sliding
scale contract, the deliveries extending over
SIX months An electrical company III the
middle West IS lnquiring for 1900 tons for
Cleveland and Pittsburg district delivery.
45heF INQUIRIES nn ee are Are being made for
the second half. However. the general
run OF buyers. are not convinced BY the
and are disposed to wait for indications
which they do not find yet-that the point
Of greatest weakness has been reached
The sales of the last week have brought
down prices of Northern foundry iron
about 20 cents a ton. while Virginia No.
iron is now sold at s15 al furnace and
delivery; While some Southern furnaces
are holding: at Sl4 and higher prices iron
for delivery in the second half. others will
sell at :13 20 for delivery in the remainder
of the year. There is little proba bilitv that
the Steel Corporation Will require additional
Bcssemer pig iron. though less than 81 per
cent of its blast furnace capacity is now
active, against SO per cent early in the year.
'"The Iron Trade Review says:
A distinctly better feeling has come with
DDpdrancn pXtrpmpIN
weather, which has been important
factor in decreasing the volume of business
In number of lines, particularly structu-
raj material. Opinions differ as to how
soon active buying will be resumed. some
believing that it will not be until April l.
but the volume OF pig iron inquiries now
may soon be placed. There has been some
speculation as to the probable effect of a
coal strike on the iron industry. if there
should be a general suspension at the BIZ
luminous coal mines on April |. but it is
not expected that many iron plants VIII be
embarrassed unless the strike should be
greatly prolonged.
In the Eastern territory the principal
buying of pig iron has been by the cast
iron pipe interests which have placed or
ders for about 250o0 tons. of which about
q, 600 tons were Southern. y leading pipe
interest in Philadelphia is inqurinG for
). 000 tons additional, and the principal pump
interest has appeared with another inquiry
for 1900 tons of foundry iron In the Pitts
burg district the Westinghouse Electric and
Manufacturing Company is inquiring for
Il. coo tons of foundry iron, of which about
10000 tons will be for the Cleveland plant
and the remainder for the Allegheny plant
In steel making iron the principal transac-
tons have been in E'ittSbUrg, where from
15.009 TO 20o00 tons of Bessemer have
changed hands, ana st. Louis. where 500
tons OF basic have been purchased. At
PittSburS inquiries amounting to 300 tons
OF basic are pending, and early sales are
expected definitely to fix the price, which
has been somewhat uncertain