New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-12-14
STEEL MEN OPTIMISTIC
,ok for Present Movement to
Re Reach High Level Of 1906.
Room" MAY BE GENERAL
u.rrv G. FriCk One of the Men
Who Expects Prosperity
Market Advances.

,,nnroyemeut that has taken place in
- business recently has caused an
.,,,,etic feeling in the trade, and some
~, men arc predicting that the present
s'.e vent is the beginning of "boom"
"a will not end until the business has
e,.5 the high level it touched in 1860
-, ,ho various steel companies marketed
Greatest amount OF finished steel
'' sn,.ts IN their history. One Of the men
- believe there is TO be a return or
..,srity IN the steel trade is Henry c.
r.t He told a friend yesterday he eX-
I'D the present improvement would con-
-, until the business was back TO the
Iss basis.
This opinion is not confined TO steel in
,.-,s.s but is shared in banking and fl
sarcial quarters generally. although here
- ,bere a pessimist IS found who is
- 70 throw cold water on prosperity
,sk OF any kind, and holds the present up
,'.r,, in steel is only a "spurt OF activity
.s,t Will end before It is well begun.
rtat Wall Street in general, however.
lords the outlook in the steel trade as
,.,.orsble is shown by the action OF the
s,s,l shares. which yesterday advanced to
new high level on the present movement.
o. common selling up 10 G62s, a gain of ?
,.,sr,s and the preferred TO Hos. a gain of
- roints over Tuesdays final quotations
rofb issues closed at the high point.
Those who believe a boom in the steel
,-s4o IS actually under way, point 10 the
tssvv increase in orders in the last few
n N
,oluue. Notwithstanding recent advances
i, nrice OF several classes of finished steel
,-o1ucts. as evidence Of their contention.
Tbev say. also politics will not be a re-
prfssing factor next year, and they do not
,ook for legislation by Congress OF kind
Ga cause any halt i'm trade. Therefore, with
,,derl,inS conditions as they are, they
s,- There is nothing 10 prevent a boom,
nat only in steel, but in business generally
The leadins trade organ in its current
issue confirms the statements regarding
the Improvement in the steel business, and
saws not only that much the largest ton
mage of the year Is on the books of The
manufacturers. but that the Steel Corpora
lions bookings are increasing moro rapidly
even than i'm November
The biggest improvement so far has been
IN the wire business. and not in months II
/, said. have the mills Of the American
Sted and Wire Company. subsidiary Of
,be Steel Corporation. been so busy. me
,sv business of the company for several
week, has been larger than reported ih
wears. and the plants are being operated 10
esrsc'ty. This is I'm tho face Of recent
Increase of 81 ton in the price of all wire
uoducts
Reports from Pittsburgh say that not
oslv have orders increased largely but
rr,ces continue 10 harden, and they aod
,ssro has been more real Improvement IN
,be steel business in the last ten days than
IN any corresponding period in many
nortbs In addition TO the recent advance
cNa ton I'm wire products, prices OF steel
bsrs. shapes and plates have been au-
yanced. and Yesterday the steel manufact-
urers announced an advance of 81 ton ln
,Ss rrice Of black and galvanized sheets.
New orders arc coming into the tniteH
states steel Corporation at the rate cI
soo tons "a day. an increase of 2''oo tons
over the average a few weeks ago, ana Inc
unified orders on its books are reported 10
+. Increasing al the rate of 1900 tons daily
and are now larger than at any time In the
Jas, eighteen months. \ proportionate m
crease I'm business is being shown by tho
lpdspendcnts. and the mills everywhere are
working nearer 10 capacity. 1t is estimated
that after January I the mills Of tie United
states Steel Corporation will be WORKING
between s. and ~ per cent Of capacity
several largo rail orders which are hang
ine over the market arc expected TO te
Jkced soon, and viii keep the rail mills
brsv for some time 10 come.
The copper trade has also been showing
great improvement lately, and the pro-
ducers say they expect the improvement 10
continue. The increased demand has caused
. steady advance i'm the price of the metal
and Yesterday clcctrolytic was quoted at
L., cents a pound. q gain Of onc-iourIh
cent over last weeks price. Trade authou-
tics predict tho price will touch II cents
pound before the end Of tho year.
dave nnnREMn ACTED ? WARS