The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-11-23
IRON SITUATION IMPROVES.
Large Orders For Iron and Steel Pro
duets Are Placed.

AANAs ~ fN+~~Ntf
10 is several months since the iron
situation has shown such marked ina
provoment as during the past week
steel Manufacturers are receivins
heavy orders for finished products, due
principally 60 the large contracts that
have recently been placed for railroad
equipment Further heavy buying or
ders are said to be assured.
The mining men throughout the Lake
superior district feel moro cheerful
than at any previous time in the past
six months. and IL now looks as &c the
many large orders Tor iron and steal
products placed before the first of the
year VIII ensure better demand for
iron ore than has prevailed for year
or moro past A prominent mining
man declares that Colonel RoCsevelts
article. ccusuriug the administration
for its proceeding against the steel
corporation. has had q good effect, and
as a result industrial conditions have
shown am Improvement
Many of the best informed mining
mon arc now expressing the opinion
that copper win sell at fourteen cents
per pound before the close Of the year
should this increase materialize there
should be a good advance in most of
the principal copper stocks especially
those of the mines paying dividends
The following report, sent out from
New York. on the condition Of the iron
and steel trade, is of interest;
THE steel mills booked heavy or
ders for finished steel products last
week, due to the large contracts for
railroad equipment Further buying
is. assured because OF additional large
orders for ears placed.
orders for bars. plates and shapes
were satisfactory from a tonnage
standpoint but most of the business
was done at minimum prices. Manu-
facturers other than our builders en-
deavored TO place bar contracts for
long time shipment at the inside pric-
es. but the mills refused to accept
business AT the minimum, other than TO
cover specific contracts for finished
material
Greater activity was noted in sheets
and tin platte concessions of 81 and 81
per ton bringing out larger orders for
tin plate, especially for delivery during
the first quarter of next year. Wire
products were quiet.
Rail contracts included $4,000 tons
for domestic roads and 1Oj tons for
Canadian lines. Between $4,000 and
10000 more cars We're ordered. the
largest being 5000 for the Baltimore
& Ohio. and 2,4OO additional for the
Southern railway. orders were also
placed for thirty-one locomotives. The
principal building contract was for the
Continental Commercial bank building
at Chicago. requiring $4,000 tons Of
steel shapes.
"A sudden buying movement sur
prised the pig iron trade with orders
for fully 10000 tons of foundry and
steelmaking iron, as an indirect result
of the railway supply purchases and
the low prices for pig iron i'm all dis
tricts. one feature OF interest was the
purchase of upward of 10000 tons of
foundry iron for export 90 Canada for
shipment during the first half of 1912.
Foundry iron consumers I'm the eastern
territory placed numerous and larger
orders aggregating $1,000 tons and as
much more was placed I'm the Central
West. including $4,000 tons basic and
$4,000 tons Bessemer.'