New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-04-25
The Iron Age" ga Us

| The market for pig iron and finished
Steel products has brOadened and strength
encd. Events continue To- count against the
| view That the advance movement which
began 10 be well defined about one month
ago, Is only Il passing squirt. The position
| OF sellers N undeniably stronger, and the
inclcations Of buyers market are lessen
Ing.
Fuller information as to the agricultural
| buying Of steel bars, which was the feature
| OF TINS report one week ago, indicates that
tEese contracts amount to 10000 tons, mat
| Lib cents, Pittsburgh. was the basis for the
NEST part, and that many deliveries eNiend
to July |. 1913. The leading harvester In
terest was a buyer OF 5000 tons Tor dellV-
cry this year and on this l.33 cents, Chicago
equivalent to l.l5 cents. Pittsburgh, may
have been shaded slightly. The advances
OF bars to 30 cents and of plates ana
structural shapes TO l.25 cents, Ilttsbursh'
announced by a number Of steel companies
In the last week, followed considerable
bookings in all three lines AZ the Old prices.
That such d move would he so ScneraHS
participated in would not have been plophe-
sled in the face OF conditions at the open
ing of the month. Since then the business
OH the books of the steel companies mas
increased, In spite OF heavy shipments.
Railroad buying is a NOR" pronouhctu
feature of the situation, with all the onorts
to minimize its proportions Inc scare ol
impending car contracts IS larger than mas
been reported Car shops have more thali
three months work ahead. and some OF
them are not getting steel as fast a. they
want It. Canadian lines have yet 10 buy
1nl 90 tons of rails for this year. and hair
OF this or more will come to TINS country.
Some cutting on structural material Is sun
noticed in Eastern markets. IN" boohinS"
Of pipe and tube mills are IN excess oil Snip-
ments The advance IN Oil Is stmulatinS
line work and i000o-ton contract OF TINS
sort is pending.
Chicago and Genital Western pig iron
markets have been active and the temG'hgl
of prices Is still upward. Sales - CHICAGO
I'm the last tNo weeks are put ~ l"h"p IONS
largely to agricultural maleahle ana fduld
tor interests At Bufalo Gt.oo' tons have
hscn sold. of which 10000 TO 50CoO tons were
mallcable In Southern iron SO a. BlrnllhE-
ham for No ., third quarter delivery, al,-
pears 10 be minimum and 81 Tor iouI'h
quarter.
"The Iron Trade Review says.
Heavy buving Of pig iron. extensive con
trs citing for finished materials ana licl!
general acQuicsccnce IN nearly All recent
advances in prices ChdraCttriHed INC lIUn
and steel market during the ldNl Wen 200 on6
iron stocks IN the country are about lNH""
tons "A reduction of fully @H,~O tons from
high point several months ago Makers .!
malleahle CASTINGS nav ne"n EL CHDinnI
Cincinnati and Buffalo. In finished lnat",
rial the mills are now 50 heavily nook''
ahead that the situation has become 'lIIu-
ally a sellers market ana hiSt concern -
nov, more devoted to making Of deliveries
satisfactory TO customers than TO inc Door
inC OF additional tonnage There ~ h iiE
authority for the statelhyHL me 80, ~ rin,s
were they 10 cease booking ltes4 ".ICttr
AT This date could woll maintain 'hHlr
heavy operations for six months. i'esn',
the advancing market and the disposition "o
makers not actively 70 seek business W.
steel CORPORATION continues to enter tw"-
go a. a rate eoual 10 ~ shipments. tn"
leading interests operations continue, a.
about % per cont Of iuc"t caracltl' VIM"
Is practically a full rat" az @"uLlly o
rlral rail- orders announced during me
y Eek include 70 Oo0 for tn" Erie. $500 ior
tho Nonon and 1900 FOR tho No" orleans
Mobile & Chicago