The Birmingham age-herald., 1911-08-17
MORE FURNACES
 BEING BLOWN IN Iron and Steel Prices Are
 Still Irregular MILLS ARE ACTIVE Birmingham Furnaces Appear Unable To Maintain $10.50 Price For
 No. ? Birmingham-Crop
 Report Caused Caution

Cleveland, Ohio, August 16.-(Special)-- The Iron Trade Review will say tomor- row:
 "A good rate of activity of mills, a somewhat decreased volume of new busi- ness and continued irregularity in prices of numerous finished products character ize the situation. Ability to borrow money readily and with low rates of interest seems to have improved the demand In certain directions for some time past. Municipalities and gas companies have little difficulty in borrowing money for improvements. Stocks of pig iron in the banks of blast furnaces of the United States Steel corporation have been re- terest is now blowing in additional fur naces more freely. During the past six weeks the iron stocks of the Steel corpor- ation have increased about 100000 tons. and now stand at total of about 16O,o0o tons. The most important pig iron sale of the week was about 10000 tons of basic to Lukens Iron and Steel company at shade less than s15 delivered.
 Tn the south makers are usually de- manding s10.5o for No 2 Birmingham, but as shown by purchases of a sanitary in terest at Pittsburg, a stove company for it's plant near Cleveland, and by Chicago buyers, 1t Is easy to buy at s10 in lots ex- ceeding 1000 tons. A furnace company near Pittsburg has exchanged 1O,O0 tons of basic pig iron for bflets. The quota ton of S15 valley on Bessemer, which has now prevailed for a year, seems to be firmly adhered to. The effects of the very active competition on shafting are being shown in low prices. This is true in spite of the fact that leading interests are ad- herring to the regular quotations and are well supplied with orders. On merchant bars the quotation of 1.2S Pittsburg is ad- hered to on ordinary business, but 12O IS freely made on good tonnages. MinneapO lis has awar rded 900 tons of cast iron pipe to the United States Cast Iron Pipe and Foundry company, which was also award ed 2o0O tons for Portland. Ore, while q Portland company was awarded 1eoo tons"
 New York, August 16,-(Special)- )- | The Iron Age will say tomorrow
 Buyers of iron and steel are rather more hesitant in view of late develop ments. The government crop report for August 1. with due allowance for some betterment since 1t was made up, points to continued conservatism in railroad purchases; and, while the iron market and the securities market are often at variance, the recent course of the latter has made consumers eau tious.
 On the whole, prices of finished prod uts are not weaker, but in bars alone are they firmer. As long as consum : CTS buy sparingly they will keep price changes within narrow limits. There are better reports of rail and car buying. The Oregon Short Line has taken 20,400 tons, the Wichita Falls railroad 10000 tons, and the Wabash | 2500 tons. Japan has placed 1900 tons is out for large lot. The Erie rail-
 road has bought 40O0 freight cars, and | is to close this week for so locom O. tives. The prospect of considerable ves- | sel building, even though some of it | Is not immediate. has encouraged the plate trade. In the sheet trade nominal | prices are still cut $1 to $2 ton. | Shading of the $3.70 base price, Pitts burg, for tin plates is both affirmed and denied The Standard Oil company has recently placed a contract in this coun- try for tin plates for the remainder of the year. Sales of foundry pig iron have in- creased, but southern furnaces have not been successful in their efforts to establish a $1050 Birmin gham basis for the last quarter.
 In eastern Pennsylvania 10000 to 12 900 tons of basic iron has been bought for this year at s14.75 to $14 go, de- livered.