New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-09-28
IRON AND STEEL CONDITIONS.

The Iron Age says.
Two things need 10 be emphasized at a
time when real conditions are apt TO he
obsrured. One is that consumption. as
shown by the operation OF blast furnaces
and steel works and the close connections
that are now regularly made between roll
IG mills and consumers. i- but little be-
low The maximum for this year. The other
is thar at the low prices reached on finished
materials some buyers are showing more
confidence In the market. The statement
or the steel Corporation, given out Tues
day. refers TO 4.5JOpN tons Oh its books I'm
Guiding $1,000 tons of intcr-company bust
ness. The first Of these figures is evidently
not exact but Ceductiug from ID the sec
oud leaves 5.5li.NNJ tons Of orders, a decline
OF I-5,Nt tons from the amount reported
for September /, which was $685. tons
All market reports indicate that finished
steel prices have been under more strain
and Jon some cases are 81 90 s. a tom lower
But the lowest prices named are not gem
eral. and a good many buyers fra. that
they cannot place business al these figures
This uucVenness has caused much confusion.
Tie appearance OF "A a-Fb-ton Bessemtr
rail inquiry from the Norfolk q Western
Railway for 1872 is encouraging In this
between-@easOn period for the rail mills.
There is considerable foreign inquiry for
rails. and the Chilan State Railways have
placed 1900 tons IN this country A new
card Of discounts on merchant pipe 10 be
issued by the National Tube Company
October = viii show reduction of s. "A
ton on black and greater reduction on
galvanized pipe. Boiler tubes. ON which
there has beeu sharp cCmgeutiou for some
time. are reduced So 20 81 ton on sizes
above Zl2 inches. A more aggressive atti-
ule on structural shapes has been taken
by some mills and L27la cents has been
reached or large business iu ne Pittsburgh
district while Chicago reports business
taken al the equivalent IL" cents Pitts
burZE. lu the Pittsburgh district prices ON
CUon hearth bUlets and sheet bars have
declined further and as low as $40 and
y4 3D. respectively are reported. Pig iron
markets are even QuietDr, buyers having
evidently been driven on hy recent weak
moss iu this years prices and The failure
of furnaces TO establish advances for next
year.
'The Iron Trade Review says.
Oycn market conditions in the iron and
steel trade continue. while price conces-
sion- are mo- greater than "A week ago, the
extremely IOw prices. which last week were
quoted hv % comparatively few mills, are
now quite general Despite the fact that
specifications against contracts m Stptem-
bar have been fair, ard that the extremely
low prices or finished materials have
brought oIt some new orders some of the
larger independent steel companies report
ff.af orders passed for entry on mill books
fr SrutcruDcr VIII show a. decline Of aU-
proximateIy I'D per cent a. compared with
August.
on account OF the unsatisfactory cond-
tiOu OF tho steel market, some o. the
sr7aI Ier industrial concerns iu the Pitts
lgreh territory have quietly reduced the
,,.asas Of all employees receiving "a higher
average than $50 90 SG0 "a month Iu several
instances tine new wage scale became ci-
fectiye September J. No action has been
taken as get ny the larger companies.