The Birmingham age-herald., 1912-03-28
ORE MINES MAY BE
 OBLIGED ID CLOSE Not Expected Action Will
 Have Effect on Steel COKE PRICES HIGHER
Specifications for Steel Products Show Continued Increase-Pig Iron Market Shows Firmness.
 Rebates Cases Ended

New York, March 27.-(Specia1 )- The Iron Age will say tomorrow: Whatever may have been the motives or influences which caused the slash ing of Lake Superior iron ore prices, the result is wholesome. That the ore market is wide open is demonstrated beyond dispute, prevailing prices at Lake Erie ports showing reduction on last seasons quotations of 75 cents Il ton on Bessemer and 65 cents on non -Bessemer ores. It fs stated that a number of mines will be obliged to close and wait for an improvement in prices.
 It is not expected that the reduction in ore will have much enect on prices of pig iron or finished iron and steel. Pig iron prices have for some con siderable time discounted lower costs of ore, while on the other hand coke Is so much dearer as to offset con siderably the reduction. When prices were cut on steel products in Noven- Der and December no attention was then given to the relation between tho cost of ore and the selling price of steel products.
 Threatened labor troubles cloud the immediate future with some uncer- tainty. The coal opera,ors and miners have not yet come To an agreement and April l is close at hand.
 Specifications for steel products arc showing continued increase, having no doubt been stimulated by the generally higher prices which manufacturers arc asking Another influence operating in this direction is that manufacturers are insisting on contracts terminating on the date of maturity instead of un- specified portions being carried over at old low prices. The rate of operation among Pittsburg steer mills and other manufacturing plants Is steadily be- coming higher. The production of all kinds of iron and steel this month Will undoubtedly break records.
 Cleveland, O., March 27.-(Special.)-The Iron Trade Review tomorrow will say:
 Important and far-reaching results are expected to follow two events of the past few days-the reductions in the quota tions of Lake Superior ores and the end ing the rebate cases growing out or the handling of ore at lower lake docks.
 Lower prices on ore will be a factor tending to influence the market to recede to lower levels, but if genuine prosperity should come this year 1t would be a Tar greater factor and would completely over come the influence of low prices on ore.
 In the rebate cases, technically disguised in the robes of justice causes fines to be imposed on the Hanna and Pennsylvania Railroad companies, while in the case oi other defendants genuine justlce til- umphed and the result will be that favored shippers can no longer as stockhoioelS of companies operating docks receive large profits which are tantamount to rebates The policy of the interstate commerce de- partment as clearly indicates by letter of Commissioner Lane to District Attor- ney Denman is to require the operation of docks by the railroads or by companies whose stockholders are in no way m- terested as shippers buying of lake ores since the announcement of the new prices, has been proceeding very slowly and fdr- mace owners are of the opinion that stili lower prices will prevail.
 Ore sellers are hoping for lower quota tions as the market is absolutely con trolled. the advances and recessions so frequently noted in the pig iron and iin- ished material markets may be witnessed in iron ore.
 Owing to the lower quotation,and to the fact that conditions surrounding the Tor eign trade are unfavorable for shipment of ore to this country Lake Superior ores have A better chance to sell in eastern markets this year than for a long time. Some sales have already been made Tn Cleveland and it is estimated that about 1000 UO tons of lake ore will go east this season.
 Prices of Port Henry, N. r., are an nounced to be 725 cents per unit for % per cent ore and 7.9 cents per unit for o5 ner cent ore delivered in the Lehlgh and SchuyIkill valleys Local New York and Jersey ores are selling at from 7A to rs cents for ore running from 5o to oS per cent iron. Mesabi non-Bessemer ores can he delivered in the east at from S. .35 to 3.5 cents per unit.
 The pir iron market shows increased armness. but buyers are already begin hing to insist that for last half delivery thev ought to be given lower quotations on account of lower prices having peeil named on lake ores. Discussions as to price have developed the fact that last wear lane ores were sold at much lower prices than was generally known, and pig iron makers insist that the new prices are not much lower than concessions they were able to obtain last year and that |, would be impossible materially to reduce pig iron prices.
 Furnace men also point out that coKe nr;ces are higher and are likely to co con- tinue They say that the full effect of in creased blast furnace capacity has not been felt except to keep the prices down md that there is not enough coke ca- nacitv to meet the demands of the fur naces if any considerable number blown