The Birmingham age-herald., 1912-09-05
P|G IRON MARKET
 CONTINUES ACTIVE Week Shows No Slackening
 in Iron Buying FURNACE FIGURES
FURNACE
Industry Enters September With 25i Furnaces Active-Output Prom ises to Be at Highest Rate
 of the Year

| New York, September 4.-(Special)-The 1 Iron Age will say tomorrow
 Activity in pig iron at further advances in price is still the outstanding feature of the market and cautionary expressions are coming out there, that heretofore nave I only been considered necessary Tn finished steel
 The week has shown no slackening in
 the buying of foundry iron Id some mar
 lsets and particularly in the central west, it has increased.
 Foundry requirements of pig iron for this year are now seen to be much greater than was estimated two months ago
 Our blast furnace statistics of Septem- Der 1 show that while production of pig iron was 1e0,o0O tons more last month than in July, il was then only equal to the May output and fell below that of June The total wss 2.512,4S1 tons, or 1O46 | tons a day against 2,410,sss tons or 77,73s tons a day in July.
 | The industry entered September with
 257 furnaces active. with daily capacity of s2OO0 tons as against 247 furnaces with a capacity of 7s,653 tons day on Aug ust 1. September output thus promises I to be at the highest rate of the year. The scarcity in billets and sheet bars | for this year is more pronounced and 1 in the Pittsburg district prices are up 50 cents a ton. The steel corporation I has bought 10000 tons more of eastern billets.
 August specifications poured In upon steel works and rolling mills at a rate lnever before known in that month. h 1 some lines consumers are more olamorous l for prompt material offering premiums I of $1 to $4 a ton.
 l Two tin plate companies advanced their price this week from s3.50 to s3.60 per base I box, but applicable to 1912 delivery only. Other advances were in iron pipe and l shafting.
 1 Cleveland, September 4.-(SpeciaL )-The l Iron Trade Review tomorrow will say
 Sales of pig iron during August were 1 tremendous and some leading agencies | disposed of the greatest tonnage Of any
 month in their business experience. Many l melters having become convinced that
 good time to buy has arrived have, coV-
 cred for their. requirements up to July
 l. 1913, and it Is probable that buying dur | ing present month will not be as active
 as it was in August. Prices are still be- l ing advanced, but in a conservative way. l In New York territory the principal buy 1 CT during the past week was the Interna-
 tional Steamp Pump company which, ie | is estimated, has purchased 25,000 tons
 foundry grades recently. It is still in tho market for 5000 tons for two eastern
 plants Buying of foundry iron in the | l.. ,tnh hn mot
 as brisk as that for other grades, shows l improvement probably due to the fact l that eastern Pennsylvania makers are l now willing to quote more openly SIS fur | mace for No. 2 for delivery during the
 first quarter of 1913 New structural prof 1 ects have not come out very rapidly dur | ing the past week or so, and delays Tn
 some cases are attributed to money con
 ditions
 Makers of finished material experience
 no difficulty in obtaining premiums for l prompt deliveries, especially on plates and
 shapes Some contracts for steel bars have been made up to April l, but makers or all kinds of finished material are very cautious about entering into contracts for next year. Principal makers of cold rolled shafting have advanced quotation
 s2 per ton. Makers of merchant pipe have announced advances of S2 per ton. l Demand for tin plate shows consdera- ble improvement and canning factories
 are placing large additional orders. Al though production this year Is expected
 to exceed that of any previous year, 1t will not be greater than demand. It IS understood that soae tonnage for next year shipment has been placed at S3,60 | per base box. Record breaking produc-
 ton and shipment tonnages, in many | eases being greater than any month in | fveyears were made by mills during Au-
 gust, and output of blast furnaces was | also very heavy.
 Merchant blast furnaces made gam | last month of 56,506 tons over July while
 steel works furnaces increased their out
 put 4407l tons. Total procuction of coke and anthracite pig iron for August was l ,499 67S tons. Daily average production
 was 30, 6s5 tons, against 77,502 tons in July. Number of stacks in blast on last day of August was 255 net gain of 10, indicat- 1 ing that considerable increase in produc- l tion may be expected this month.