The Birmingham age-herald., 1911-09-21
AIR OF EXPECTANCY
 IN IRON MARKET Price Concessions Continue To Disturb the Market ORDERS ARE PLACED Past Week Shows Little Change in the Steel Market-Pig Iron Con-
 tinues Stagnant-Milis
 Reduce Wages
ORDERS ARE PLACED

Cleveland, September 30-(Specal.)-r Iron Trade Review tomorrow will say:
 Price concessions continue to be made in practically all lines of finished products and have considerably disturbed the mar ket for both buyers and sellers. There is an air of expectancy that some action may soon be taken to carify the situation which is extremely unsatisfactory to lead ing independent interests. Some of the current reports of price irregularity are manifestly overdrawn, but buyers having attractive tonnases to place have no diff culty in doing so at very low quotations.
 "The cooperative spirit among manufac- turers is weaker than it has been for a long time and the leading interest and in dependents are drifting farther apart. The more active buying of July and Au- gust has been helpful in maintaining mill activities so far in September, but some declines in production at an early date seem probable. It has been said that structural shapes in the east have been firmer, but large lots have shown the usual course of shading in the east as we'll as in other parts of the country.
 Price conditions in fabrcating materials especially have been a source of com plsint. Some shops with their own steel supplies have been designated as worst offenders. Some of the largest fabricatng companies, however, are well filled on their capacity over the next three months, and this fact may tend to strengthen price conditions, although the developments of the last week have not been in that di- rection.
 The Youngstown Sheet and Tube conl- pany has awarded 75O0 tons for the con struction of it's new open hearth furnace and blooming mill to the American Bridge company The Kesner building, Chicago, S4c0 tons, was awarded to the Hansell- FL cock company. The Frisco refrigerator line has awarded 250o refrigerating cars to the American Car and Foundry company, which has also taken 1900 gondolas for the Cincinnati. Indianapolis and Louis vile. Orders for bridge material include 40d0 to 500o tons from the St. Paul divided between the Minneapolis Steel and Ma chlnery company and the Milwaukee
 
 bridges for the New York Central The Central of New Jersey has issued plans for two large bridges which will require 10000 tons. The Grand Trunk railroad has ordered 10,000 tons of rails from the Maryland Steel company. Higher prices than $10, Birmingham, for delivery this year has been abandoned by southern companies, which are anxious to sell and $10 can be done in some cases for de- arct of A sale of 1000 tons of basic to a Pittsburf consumer at a price netting sl2.50 to ths | furnace makes the lowest quotation in 2 number Of years on basis pig iron. 1 There is fair inquiry for foundry grades in the east Cast iron pipe com panies have purchased 10,O00 tons in that | territory In the past two weeks
 New York, September 2o.-The Iron Age will say tomorrow
 Taking the steel industry as whole the past week has brought little change in volume of orders or in prices. The possibility of lower wages at steel works and rolling mills is being very seriously discussed and In the opinion of some man. ufacturers it is inevitable that labor will share in the hardships the trade is under going.
 Reports as to volume of business which emanate from the Steel corporation con tnues more favorable than those coming from independent steel companier. The average of capacity employed by the various steel companies on domestic busi- ness continues to be about 65 per cent. "The wire trade appears to stand alone in the effort to establish higher prices after the recent lapse to $l65 for wire nails and a number of manufacturers are now asking s1.70 for wire nails and sl.5d for wire.
 "A 10 per cent wage reduction at two mills in the Philadelphia district em- phasizes the effect of recent declines in sheets.
 ''rhe Baltimore and Ohio has given an order for TOGO tons of rails and the Buck annon and Northern one of 4So0 tons, Id be rolled at Pttsburg. At Chicago the Davenport and Muscatine railroad has bought 30oO tons and the Birmingham, Bessemer and Enslev has placed 3200 tons with the Ensley mill.
 "Pittsburs reports some shading of the Sl 35 price of plain structural material, sl 80 having been named on large order for bears and channels up to t15 inches
 The foundry pig iron market drifts on. without any promise of greater activity In the east there are signs that more iron will have to be bought for this year than was counted on. while In the west a good many consumers are expecting to carry over in their yards into next year iron bought for 1911. Tn southern Ohio an in- ouirv has come up for 20GO0 tons of basic. At Pittsburg a sale at N2.0 at furnace represents a decline of 40 cents.