The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-07-28
OUTLOOK IN IRON
TRADE IS BETTER
Report of Steel Corporation Is
Very Satisfactory
TRADE IS STILL QUIET
Demand for Fabricated structural Ma
terinl Is One of the Most Prom
inent Features of the Iron
Market
TRADE IS STILL QUIET
New York, July 2s.-(special)-The Iron

New York, July 2s.-(Special.) 1.-The IRON
Age tomorrow will say
The splendid showing of earnings for
the second quarter of this year made by
the United States Steel corporation should
DE most effective answer to those who
have been inclined to take a gloomy view
of trade conditions
Such earnings could not have been
made unless full specifications on con-
tracts had been received. This Is taken
as proof that consuming interests gen.
erallv have not made cancellation. Inc
recession in prices of iron and steel this
wear has not been so largely due to
shrinkage in business as to the great IN
crease in productive capacity
This has been referred to before, Out
is fact which needs to be impressed up
on the public.
The pig iron trade continues compare
lively quiet with little change IN prices
Such buying of pig iron as Is now peins
done comes from consumers whose pur-
chases have been postponed until the iron
was actually needed and particularly
attractive offer then gets the business
This explains why some sales occasionally
come to light which cover deliveries run
ming over several months.
The demand for fabricated structural
material Is one of the most prominent
features of the market in finished lines.
1t Is a remarkable fact that more pusi-
ness of this kind is coming into the shops
than is going out.
The largest transaction of this kind re-
ported during the week was 1900 tons OF
bridge work placed by the Chicago ana
Northwestern, which was divided between
two fabricated companies. Bids on 10000
tons for the New York Central terminal
work in this city go in today
The number of small jobs steadily COM
ing out is very large. The wire business
is now excellent, new orders and specifi-
cations being received in much larger vol
ume than for some time.
The heavy consumption of steel bars
which has SO long been a noteworthy
feature Of the market still continues.
Buying of plates and sheets is in small
lots, but the leading makers are receiv-
ing orders from all parts of the country,
indicating a good consumptive demand.
7, The wrought pipe trade is in fair con-
dition. Rail orders are not large, the
contracts for the past week having ag-
gregated only 5000 tons for the entire
country This, however, is not the time
of the year to expect large tonnages.
Cleveland reports the placing of a con-
tract for 10000 tons of furnace iron for
deliveries running over two and a half
years, to be paid for on sliding scale.
A good buying movement Is now on in
electrolytic copper, and the prices had ad
vanced one-quarter cent per pound the
past week. Pig tin appears to be cor
nered, as the price for six days has been
stationary.
Iron Trade Review
Cleveland, o., July 27.-(Special)-Thc
Iron Trade Review tomorrow will say:
The report of earnings of the Steel cor
poration for the second quarter is very
satisfactory, but will not be equaled dur
ing the present quarter, as business has
declined and prices are lower than the
average for the second quarter. A sale
of 10000 tons of basic to a middleman
was made by valley interest at s14,
valley.
This is a new low level, as 1t is under
stood that 1000 tons of basic was pur
chased last week by a Kentucky interest
at about $3.50. Ohio furnace. Buffalo
furnaces are now able to deliver No. y
foundry pig iron at SIG by canal route
to New York. While there is a fair in
quiry in spots and considerable quiet
dealing In the east, the pig iron market
lie quiet and prices are soft
Railroads have placed some fair orders
including 1900 tons Of structural material
by the Chicago and Northwestern.
The structural fabricators are busy in
nearly all parts of the country, but low
prices are being made on the steel, $40
Pittsburg being shaded. particularly il;
eastern territory and on export business.
The American Bridge company expects
to operate to about 80 per cent of its ca
pacity during the remainder of the year
The total July business In structural ma
terial will amount to about 100000 TONS
of which about 10000 tons has been
10 lar l,,r the leading interest The Que