The Birmingham age-herald., 1911-11-16
AN INCREASE IN
 FORWARD SELLING Better Buying in Finished
 Steel Products ROADS ORDER RAILS Car Buying Last Week Made Largest Weeks Trade Than in Months.
ROADS ORDER RAILS

New York, November 15.-(Special)- The Iron Age will say tomorrow:
 The latest developments in fnishec steel products are a larger business 1T some of the heavier lines, continuance of the better buying by the railroads lower prices where there has been any change, and more offers from consumers to place long time contracts at present levels This last is the most significant feature of the situation. There are also offers to take and pay for, as soon as the mills can ship, rolled steel in various forms sufficient to last the would be buy CTS for months. While some mills are resisting the effort to carry present prices far into next year, there is evidently an increase in forward selling. The whole price situation turns on the amount oi backlog accumulated under this move ment.
 Car buying last week made larger weeks total than in months, and other good sized orders are yet to be given out
 The Atlantic Coast Line has bought 12,- GOO tons of rails from the Carnegie Steel company and 1000 tons from the Maryland Steel company. The Reading and the Central of New Jersey have placed 1s0oo to 20OOO tons with the Pennsylvania Steel company and the Bethlehem Steel com pany. In addition to the 200 ton order, which went to Gary, the Burlington road has bought 10000 tons of open hearth rails from the Colorado mill.
 There is larger buying of steel bars and July 1, 1912, is as a rule, the limit on contracts.
 Foundry pig iron buying has increased somewhat in nearly all districts.
 Cincinnati, Buffalo and Cleveland re- hort better buying by foundries, but the uncertainty about raw material prices TOT 1912 is still a factor.
 Cleveland, November 15.-(SpeciaD The Iron Trade Review tomorrow will say The stimulating effects of continued heavy buying by the railroads are being felt by many mills, especially those in the Pittsburg district, where recent car orders are responsible for more than so, O0O tons of plates and much other material being ordered. In spite of the encourag- ing signs it is not well to speak with too much enthusiasm of improvement x hich has taken place. In the east there is no change for the better and in some cases mill activities are not as great as they were a few weeks ago. Prices of finished materials generally continue low. An interesting development in steel making in Cleveland in the an- nouncement of the building of eight open hearth furnaces by Corrigan, Mckinney & Go.
 The principal topic of discussion in pig iron circles has been the purchase of basic pig iron by the American Steel foundries. Reports conflict as to the ton mage bought and the price paid It is generally agreed that about 10000 tons were purchased for delivery at East St I.onis and Granite City, III. Positive state. ments have also been made that iron 12,oOO to 15ooo tons have been purchased for delicvery to the Alliance plant oi the company.
 Quotations on Ferro, Maganbe and Fer TO Silicon show sharp advances. Some contracts of good size have been award ed in structural material but prices are still irregular. Buying with railroads continues the most encouraging feature of the market The New York Central lines continues the leading buyer and has just placed orders for 5350 cars oi assorted types with the American Car and Foundry Co.,; 900 box cars with the the Pullman company; 800 flat cars with Barney and Smith company; $50 Gon- dolas with the Standard Steel Car com pany, making a total of 1850 cars re- gently placed by this system. The South ern Railway company has contracted for 1700 all steel GonodIas, 800 steel under frame box cars, 250 all steel 50 ton flat cars.
 leading car building company will soon be in the market for a large ton mage of plates to cover it's requirements in building cars recently ordered. As high as 10000 tons may be contracted for The ship building companies of the east are well provided with orders to keer them busy for many months.