New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-12-15
STEEL STOCKS CO HIGHER
ootimistic Talk of H. c. Prick
'p and Others the Cause.
aooM IN TRADE PREDICTED
,;,,sburgh Reports Receipt of
uaovv orders-Copper Trade
Experiences Boom.

-e.uIt Of further optimistic remarks
,,.rry =. Frlck ana others on tho out
,bo steel trade. Victor Morawetz s
e.skA belief in the soundness "f the
'..,.s states steel Corporations position
49, the law in his address before the
Forum. and several favorable do
,,,uents in the trade itself. there was
..,r sharp upturn yesterday IN the
NJ the United states Steel Cor
the common touching 81, gam
,orts over the high OF the preceding
and the preferred going 10 HIS, up
- polnt from Wednesday, high figure.
-. issues reacted i'm the late tradinS
h.syv prvnt-taking sales. the common
- ai Co.'S aud the preferred at Ill.,
oving net gains. respectively, OF one-haii
- one.eiehth points. The transactions IA
cannon stock were in enormous vol
re acgresatine SQ.So0 shares.
NJ Fricks optimism regarding the steel
s.s,rv which found vent on Wednesday
statement TO "a friend that the recent
..oroyement I'm the trade would continue
III the business was back 20 The record
ling proportions OF 1906. had expanded
-, night so as to include not only steel
-, the business of the country generally.
s14a added TO his forecast on steel the
..,5iotfou that the coming year would wit
- the greatest output Of finished steel
.,od,cts I'm tho history of the country.
ahjs opjuiou was based he told his friends
-, only on prospects of a general trade
,oon, m the United States, but also on as
snr,uces that the foreign markets would
demand next year more of American prod
pcts than ever before.
The total steel exports alone. according
=, Mr.. Frick and others who share his
Jews. are expected 10 aggregate I'm value
more than SgoO010oOo, as compared with
i,ss than $2C1V0OoO in 1910.
Among the favorable developments in the
steel trade Yesterday was another advance
~ 81 a ton i'm thc price OF bars, while the
AFee Of structural steel was marked up s.
-toa. 4 further advance in wire prices,
vAiel were recently advanced 81 ton, as
vel as in steel sheets, is expected TO be
made within the next two weeks.
Il Was learned also that the PENNSYLVANIA
Railroad Companys steel rail requirements
for the ensuing year will be much larger
han has boon looked for in the trade. ana
a. further piece OF bullish news for the
s-eel companies it was announced that the
PENNSYLVANIA had increased Its order for
steel cars Of various types, placed last
week from 600 to 1900 cars.
Steel men who are predicting a boom in
the trade cXrcct that other railroad COM
manic, viii follow the example or the
Pennsylvania. and place large orders for
both cars and rails in the near future
Amendment director of the United States
Steel Corporation, in speaking yesterday Of
,bs improved condition of the steel trade
said that already the Steel Corporation had
CROUCH business on its books 10 keep the
rlarts in operation for six months. and that
business was coming in I'm greater volume
than al any time in several years.
another director took "a more conserva-
tive Wow of the outlook in tho trade. He
sad:
steel conditions arc good, and ] believe
they will get better. It seems TO be a
period Of reconstruction. While ] Do not
,t2cct boom times next year. with the
tonnage already booked & satisfactory bust
re,s as well as letter prices and earnings
can he expected
lie added that tho directors were conh-
cent that the United States Steel Corpora
ton would win in the suit against il for
dissolution brought 10y the government
Pittsburgh dispatches received I'm Wall
Street continued 10 reflect the optimism felt
IN that centre regarding the outlook in the
steel trade They reported that present
conditions were better than they had been
n long time and that the prospects for
the future were decidedly encouraging.
@Setits ~ enormous tonnage OF steel bars,
shapes and plates had been entered In the
lssl few weeks, the DISPATCHES said, that
Scme Of the largest plants we're sold UP
s9llly for three months ahead.
the copper trade. which is enjoying
boom OF rs own. continued TO show improve
ment YESTERDAY. and sales Of lake copper
were reported az 10 cents q pound, the