The Birmingham age-herald., 1912-02-15
IRON INDUSTRY
 FEELS BAD WINTER Tendency to Exaggerate the Lull in New Steel Buying WABASH ASKS FOR BIDS Considerable Rail Buying Is Ahead. Competition Breaks Out at Inter-
 vals With New Sharpness
 in Structural Work
WABASH ASKS FOR BIDS

New York, February Special, )- The Iron Age will say tomorrow: There is tendency to exaggerate the ex- Istent and effect of the present Hull in new buying of steel products, just as. there was an unwarranted proclama-
 ton of a boom, based on the heavy buy
 ing of the last six weeks of 191l The check given to all business by the se- we're winter has been felt in the iron industry in the slackening of new or ders and in some cases of specihca- tions. But there is a general expecta- ton of expanding demand in the open ing of the active season.
 That the rails bought in the past two months have not been coming to the mills as fast as desired this has caused some comment. Against this is the pros- pect that considerable rail buying is ahead.
 The Wabash receivers have asked for bids on $500 cars and 25,000 tons Of rails The International Great North
 ern is inquiri,-g for 15,000 tons. Quite a little export business Is up includ- ing 10000 tons for Australia. Prices in number of finished lines are low CT, particularly in plates, structural shapes, bars and sheets. There Is no large inflow of new orders and some mills are rather more aggressive.
 In structural work competition breaks out at intervals with new sharp ness and that has been the case late-
 ly. Volume is not seriously complained
 of, and in the past week probably 35,-
 coo tons have been closed.
 The Standard oil company has been
 in the market for tin plates. Welsh
 makers recently bid on 100000 boxes, but did not secure the business. An
 Independent producer in the Pittsburg
 destrict has been seller to the oil
 companies for the export trade.
 Southern pig iron producers find the firmer position they have recently taken on prices reinforced by a reduc- ton of 17.000 tons in Alabama stocks in January. The northern foundry iron
 market is dominated by the expecta-
 ton of buyers that with lower ore
 prices there will be a further recession in pig iron and it may be April before
 the ore situation clears up.
 Cleveland, February 14.-(Spec1al.)-
 The Iron Trade Review tomorrow will say: The iron trade Is looking forward to milder weather. The prolonged and intensely cold weather which has ex- tended to nearly all parts of the coun- l try has had a depressing effect on bus mess, putting stop to outside work and new construction and seriously in- | terferng with the movement of trains | Improvement Is expected as soon as the l x<yn n ba1- mi ThaFn c | for believing car and rail buying in
 the near future and that probably 15.- | GOO cars and 10000 tons of rails will
 shortly be inquired for. Some leading system which has bought cars will
 place supplemental orders. The Amer l ican Steel and Wire company and oth- CT manufacturing concerns report
 scarcity of cars. The International and | Great Northern, a Texas railroad, has | inquired for 15,000 tons of open hearth | rails.
 1 The American Steel and Wire com | pany now has on it's books the largest | tonnage by a substantial margin of any | time in It's history. Specifications
 against wire contracts are very satis- factory and some sales are being made at the new quotation. Sheets are show | ing irregularity and some of the in- dependent companies are eager to dis pose of their stocks on hand Tin plate | DTlCeS are IdlTiV nTfn dnu all sentiment prevails.
 | The pig, iron market is quiet but the tendency Is toward greater firm l ness. In the south stocks have de- creased and the $10 quotation has mar | rowed to a few brands. In the val | leys consumers of basic are urging prompt deliveries and the limited sales
 made indicate that the price is $12.40 valley, on No. 2 foundry s13.25. Val | ley seems to be pretty well estab- | lished In the east the market Is dull | but several good inquiries have ap-
 pearad in the Philadelphia district with
 in few days, including one for 5000
 tons of low phosphorous and one for 2000 tons of basic. Additional sales
 of from 4oO0 to 5000 tons of southern iron have been made for shipment to Genoa. Italy. A New Jersey pipe maker who recently made purchase has | taken 5000 tons additional for Penn
 sylvania furnace. Reports of low prices
 In New England are still prevailingt l .Softness in prices of structural ma
 terial has been more strongly in evil | dence within few days, particularly I in eastern territory, where several con- tracts have been closed at or below l $40 per ton delivered. The American l Bridge company has taken 5000 tons
 for section No. of the Lexington ave | rue subway; 1900 tons for the Stetson building, Philadelphia, and will prob ably receive the contract from the Man ufacturers' club. Philadelphia, 2300 tons and 2000 tons for the stock exchange | of that city. The American Bridge company also has taken 1854 tons for | the construction of bins of the Duluth plant of the Minnesota Steel company. The Easter Steel company has 1000 tons
 for high school in Brooklyn. The Ritter County Manufacturing company, Pitts burg, has taken q contract for from l 500 to 800 tons for construction for
 the General Electric company at Erie. Pa. Railroad buying is confined to a large extent to the Chicago district.
 PHYSICAL CULTURE l MANI Tn ECEI I'D E