New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-06
Iron and Steel Trade.

+ .'.Thc Iron Trade Review" this week
publishes that the industry entered sep
tembgr with 2j7 furnaces active, with
daily capacity OF S9.O5S tons as against
al furnaces. with a capacity Of 1853 tons
a dsy. on. August /. September output
thus promises 10 be at the highest rate Of
Z, the YEAR
Other furnaces are preparing TO blow in
this month. hut with number Of coke
producers now shipping only So per cent
Of what contracts call for II is evident
tina, pig iron production Will expand only
slowly Efforts to increase coke supply
have met with little success.
f Besscmcr basic and low phosphorus
rig irons have advanced along with foln-
DRY grades Bosscmer for this year has
sold az sl5 81 Valley furnace and basic
al 81 @ while for 1918 SELLERS arc. asking
s. cents higher.
The scarcity in billets and sheet bars
FOR this year is more pronounced and IN
the Pittsburgh district prices are UP %
cents a ton. The steel Corporation has
bought 1909 tons more Of Eastern biliets.
August specifications poured In upon
steel works and rolling mills al q rate
never before known in that month. IN
some lines consumers arc moro clamoroIs
for prompt material, Offering premiums
, Of s. 70 81 q ton. These premiums may
pave the way for further advances in
contract prices, but apart from rails the
amount Of 1918 business put through Is not
yet an important factor
The Iron Trade Review" in its con-
densed report says the total production
OF coke and anthracite pig iron for Aug
ust was 2.i99, SIS tons. an increase OF yin
tons over July. The daily average pro-
duction was 80 SIS tons, against 1852 tons
IN July
An interesting development, as indicsJ-
, ing the advanced basis OF raw material
costs under which pig iron makers must
I. work after January. Is the sale Of JoVy'
tons OF, Cuban ore 20 an Eastern PennsyI-
vsnia furnace for next years shipment al
s. cents Unit, Philadelphia, or prac-
eeally ~ cents advance over this years
pTJces This In the FIRST ore sale for next
years shipment TO be announced.
The Coal Situation.
n
tons in the coal fields The Coal Trade
Journal has the following
"slrenuous times are ahead for coal
men both anthracite and bltumnous'
The call for tonnage from all directions
vas never heavier. and 1t is usually ur-
Gent for quick delivery. Improvement IN
the Industrial situation. the using up OF
stocks on hand. as well 81 labor and car
shortages and the scarcity OF hard coai
are the chief causes. and these condi-
tons from the present outlook VIII con
thu. right up 10 the close of the year.
In fact, right through the winter season
TO and beyond the beginning OF the ne"
coal year.
In bituninous conditions have I'M
proved 10 such an extent that operators
and shippers in some instances are COM
PEELED 10 hustle 10 keep up with contract
obligations: in fact, are compelled 10 70
into the open market for supplies, where
they are Obliged to pay stin figures. inns
leaves them nothing In the way OF prOhts'
they paying the prevailing mine price. In
2 'as spot market there has also been
very brisk demand. and orders are Keep
ING well up TO receipts. Bargain tote nave
nov been eliminated from the marker as
general thing and serious scarcity OF
soft coal is looked for before many weeks
20 BIZ.
Already appearances indicate that there
are more orders for soft coal than can
conveniently ne filled, and quotations. as
result. are strengthening materially; IN
'set. prices have been increased in many
Instances and frmness OF circular pre-
Fsils In several markets where but
snort while back conditions were not at
III satisfactory. Prices, as a result OF
'ht very heavy demand for the product.
may be increased merely IS q means OF
fetsetins orders
Car snortage. which has been in exist
ehos 10 some extent, is becoming worse
osliy. and promises 20 become acute with
70 short period Of time. In fact. II is
Tedicted that the greatest shortage In
fnifoao equipment In the history OF
transportation will be in effect by the end
" October, as the largest freight tonnage
''s handled by the railroads OF the coun-
. " 10 declared 20 be IN sight. In several
" tns chief coal producing districts pro-
aHeuon Is being eurtailed as result OF
ne car shortage now IN existence. and in
VINE cases only part OF the usual guam
~ DFOfugnd L. hoIn0 sbinpad