The Birmingham age-herald., 1911-12-21
STEEL MAKES SOME FURTHER PROGRESS In Establishing Higher Prices for the Product PIG IRON DUETS DOWN Blast Furnaces of Steel Corporation Will Not Be Banked During Holi-
 days-Heavy Buying By
 Railroads Impending
PIG IRON DUETS DOWN

New York December 20.-(SpeciaD.-T
 Iron Age will say tomorrow: The steel companies have made some further prog
 ress in establishing higher prices for their products In the past week and now look
 for railroad buying to reinforce the posi-
 ton in which the recent heavy volume of low prices business have put them What is counted on by those who predict
 large things for 1912 is that orders now
 on hand will carry them well into March at a high rate of output and that spring business will then be sufficient to fin
 their books beyond the middle of the year.
 Actual market developments have plain l ly modified selling policies, as indicated by the establishment of 1:15, Pittsburg,
 for steel bars on the past week, and by the disappearance of recent low prices
 for structural shapes and plates.
 It had been expected that a number of blast furnaces of the steel corporation
 would be banked over the holidays, but the order has been given to operate them as usual. Several additions to the list of the corporations active furnaces are scheduled for January.
 Heavy buying by the railroads is inn pending. In rails announcement of con- tracts for 500,000. to 6OO,00O tons are ex- pected within the next fortnight, the buyers including the New York Central, Pennsylvania. Baltimore and Ohio, Atchi- son, Southern railway and several vest ern lines.
 The Pennsylvania car order, 1t is now definitely stated, will be for 24,OOO cars which will require fully 3O0000 tons of steel. The wire and tin plate operations of the steel corporation and the steel pro- duction of the Carnegie Steel company will be on 90 per cent basis in January
 Pig iron markets are quieting down after month of heavy buying, the marked feature of which was that it left prices practically unchanged However, southern iron in which the weakness was marked is firm on the s10 basis.
 Bessemer iron is stronger and s1425 at Valley furnace is reported at that price ! but there is an accompanying ore trans action.
 Cleveland O., December 2O.-(SpeciaD.- | The Iron Trade Review tomorrow will l say:
 Cheering news comes from the leading iron centers but with it there is an ex- pression of importance of conservatism An official of one of the largest con- panies says that business has had se- we're case of typhoid fever, is now con- valescing and must be given very re- strieted diet in the way of higher prices or there will be relapse. Recent ad- yances are being well maintained for the most part on the central west, but In the western territory are not strictly adhered to- Eastern mills have not in- | jured improvement in business to as great | as those in other sections, particularly the | Pittsburg district The shipments of orc | by the United States Steel corporation | from the Lake Superior district during | the year were slightly in excess of IT, | 000,OO0 tons or about 53 per cent of the | total shipments. This is an increase of | about per cent over last year, when the | corporation shipped slightly less than half of all the ore moved. Ore imports for the year are estimated at 1,S0O,000 tons. a decrease of S00,000 tons compared with ! last year The largest shipper from abroad was Cuba, which sent about 1,09O,- coo tons to the United States. The sale of 25.OO0 tons of Bessemer by the Ohio Iron and Steel company to the 1 lOhhSSloNIi ollct anu uDt COHpdny Ut s14.25 Valley for January and February | delivery was the largest sale of Bessemer | since February, 1910, barring the recent 1 exchange deal by the same seller and the Republic Iron and Steel company, Cleveland steel company took 2O00 tons of | Bessemer; in the east leading buyers covered for about 20,000 tons of various grades and are still inquiring for a good tonnage.
 Rail business has been coming out l rather slowly but now leading men are confidently expecting that orders for 500- eco tons will be placed within 10 days. The Baltimore and Ohio railroad has or dered 40000 tons, of which the Carnegie Steel company was awarded TOGO, the Illi- nos Steel company 70O0 and the Pennsyl- vania Steel company a smaller tonnage