New-York tribune., 1911-12-28
RUSH OF STEEL ORDERS
poth Trust and Independents
Start Plants Long Idle.
RAILROADS HEAVY BUYERS
prices Continue to Improve and
Further Advances Are Ex-
pected Soon.


,bere has been no let-up in the buying
.ovement in finished steel products that
~, several weeks ago. and orders nave
,.sr coming in at such rate recently that
s.,b the Steel Corporation and the inde-
s,nden,s have found il necessary TO start
- mills and blow in furnaces that have
-, idle for several months. The Rosena
s.,,sce. at Newcastle, owned by the Steel
r-.,oration. resumed operations yesterday
s.,& along period Of idlcness, and the
,.,ss & Laughlin Steel Company started
''nr If its twelve mills at Aliquippa, and
-, remaining eight, IL was announced,
~ be put into operation about the first
a.ek m January. The rail mill Of the Penn
..,vania Steel Company made a record in
.,l,ine open hearth rails for the week end
- pecember q, when the tonnage rolled
.,.rared about one thousand tons day.
veU orders are coming I'm TO the Steel Cor
-orstion. II is said, at the rate Of close to
I. IN tons a day. and the corporation is
"a, operating at the rate Of 50 per cent
- maximum capacity. Prices of finished
,,sal products continue TO harden as a re-
,pl, Of the improved demand, and fur
,hsr advance in prices Is looked for i'm the
,s,r fature one local jObber is already
s,,stnp out for 81 % on steel bars for
,rompt shipment, which is 81 a ton higher
than the price generally quoted.
several big rail orders are expected TO be
,laced shortly. among them being those OF
he New York Central and the Pennsyl-
vsnla railroads. which, ii is understood,
viu BE- between oo00 and. 1l5.Oo0 tons each.
Optinistic views on the conditions in the
,-op and steel markets arc expressed by the
leading trade journals i'm their current
issues.
The buying Of finished steel has con,
,inued on a scale that has broken the ira |
S.on N q quiet market at the end Of the
year and has tended 90 establSh the higher
nriees recently asked. particularly Tor bars'
Mates and structural steel. Buyers are not !
rnshiug I'm 10 cover for the future i'm the !
way that has been known 10 bring rapid |
advances, and cautions against 100 IdSl a |
race are cratuitOuS. on the other hbnQ, |
iSe attitude of sellers is decidedly changed, /
and that OF itself has produced business.
Heavy orders have come to the steel /
manufacturers this week. and leading =
terssts are now SO far committed Tor the /
frs, four months Of 1912 that a question ]
has arisen whether railroads viii ma open |
space for such rOllinES as some trunk lines |
have required heretofore Tor spring oe- |
One Of the two large rail orders now |
pending IS expected TO lie placed Wlthlh |
ibs week stone & Webster have con- |
,rsoted for 065 tons with the PENNSYLVANIA |
steel Company. In the Pittsburgh district /
Hght rail Specifications last week were the /
largest Of the year for single week. |
There are confident predictions by hlgh |
Authorities that large car buying will be |
seen early iu the new year. The steel !
CORPORATION will buy 5000 cars, OF when /
srli are for the Pittsburgh, Bessemer a /
lake Erie and 1000 for the Elgin, Joliet q /
The advance I'm steel bars to 115 cents /
Pittsburgh has been well held. There IS /
more resistance 10 higher basis Tor !
structural shapes. but 1l5 cents appe arS 70 /
BE- the minimum, while 20 cents has been /
secured IN some cases. The persistent weak |
ress In fabricated work is still a factor, |
as steel companies are called upon 10 back |
I'd the low bids OF customers.
Plate mills I'm the Central western ana /
Chicago districts have nearly four months /
work ahead. but Eastern Pennsylvania /
mills which share I'm only a small way in /
steel car business, are not SO well of. |
Considerable sales have been made on the |
30 cents Pittsburgh basis.
Sheet and tin plate mills VIII operate 10. /
January on better schedules than IN /
months. and the average to-day is about (
3 per cent OF capacity. Wire mills are also |
Increasing their operations. good orders I
havipg been taken on the 81 - basis for I
wire nails. Wire prices are stu out OF ilhe |
With those for the heavy products.
Pittsburgh district steel works are heaV- /
iy committed on bllet ana SAtel bdi .Cpu- /
tracts for the first half OF 1912, ana $2n
for Bessemer and open hearth blllets Is
now generally quoted representing II au- /
vance Forging bllets are now S26. Pitts /
bgrgh. am advance Of 81 I'm two weeks
sustained activity I'm pig iron in the Cen |
tral West. particularly al Buffalo ana
Cleveland contrasts with quiet markets i'm
the East and at Chicago. Furnaces having
orders for several months ahead have ad- |
vsnced their prices but sellers for the
Sr,t half Of next year at the recent level |
have not all disappeared
In IFS current issue The Iron Trade |
Review says:
Business transacted during the holiday |
season never furnished a safe basis for |
rredictine the degree OF prosperity which |
vii nrcvaU later in the year. but the !
length OF vacations given employees OF mills |
Indicates pressure for filling Of orders al /
ready placed This year nearly all the |
mills OF the Central West resumed on the /
day following Christmas. but iron mills are /
operating very irregularly, and at some |
steel mills i'm Eastern territory, among /
which bookings have not been so liberal /
the holiday cessdtiOns have not been |
shortened on any unusual scale.
The Steel Corporations plants VIII run |
through the holidays at Il higher rate than |
orders have been given for the bloWlng-ln /
q three additional furnaces, which Will |
brng these plants to fun activity. The |
corpora ticn'S operations shortly after the !
begnn.ug Of the year may be expected 10 /
show considerable increase. Rail orders |
The Chicago & Northwestern. 1900 tons FOR |
he 500 Line and 400 tons for the National /
Railways Of Mexico. Prices generally in !
he finished market show increased nrm- /