The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1912-08-28
STEEL NEWS.

The steel corporation has been re-
ceivfng orders slightly in excess of
shipments, and II is expected that
there will be a small increase in UNI
filled tonnage for August even though
deliveries have got back to the high
rate prevailing in June. The condition
of the steel corporations business is
summed up by an official of one of
the subsidiary companies as follows:
1913 to he Big Year.
THE business of the company can
be described as enormous. If we did
not receive a new order in six months
our mills could be operated at normal
capacity during that period There
does not appear to be any let up in
the demand for steel, and it looks as
though the opening of the Panama
canal is ging to be preceded by a rec
ord output of steel and iron in the
year 1919
The report that the steel corpora
ton would have to get rid of it's
steamship lines under the Panama ca
nal bill has been denied. and it is as
serted that all of the steamers owned
are held by the corporation or steel
| making subsidiaries and not by the
| subsidiary railroads.
| Shipyards have been placing large
orders for steel and iron products. and
ship building is now being carried on
at a greater rate than In many years.
The value of all work under way is in
excess of 500. 900. 900
| Inquiries for rails now before the
market added to probable require
ments for extensions. double-tracking
and new construction planned indicate
that by the end of the year there will
have been placed a total of from l.
900. 900 to 1000. 900 tons of rails for
| 1913 delivery. There have been con-
| tracts for 100000 tons placed already
| for next year, with about 200,0 900 now
| pending.
There has been a total of about 49,.
| 600 cars ordered so far in August, with
| about many more before the mar
ket, which may all be placed before
the end of the present week.
Boom for Several Years.
There have not been any large or.
ders for structural steel placed during
the last week. but there is an enor-
nous tonnage pending, including
around $4,000 tons for New York trac
ton companies and 1877, 900 tons fol
the union station in Cincinnati. Their,
is total inquiry for around 5o0.0ol
tons of structural steel before tn.
market.
The continued active demand for til
plate is due to the expectation tina
there will be further advances II
prices in the near future and consum
ers are anxious to place their order
before higher prices are asked by tn
manufacturers. Wire products hav
been active for the same reason. Ac
tivity in wire products is expected t
continue throughout the year OWNS
to the demand from agricultural dis
tricts due to favorable crop prospects
Heavy consumption off, muck bar
has resulted in a shortage of the sup
ply, the demand being in excess OF ca
pacity for production. Prices hav
stfffened considerably as a result.
prominent steel manufacturer pre-
diets that the present congestion pre-
vailing at steel mills will not be re
, Heved for at least a year and that
the buying continues through 1918, a
seems probable now, IT may last 70
, several years. The majority of tn
steel companies are practically all sol
out for the rest of this year with goo
| bookings for 1913 already. The entir
industry is working at practically flu
capacity and In many cases have prac
tfcally exhausted stocks.