The Birmingham age-herald., 1912-02-22
P|G IRON MARKETS
 EXCEEDINGLY DULL
No Immediate Prospect of Any Significant Activity
SHEET MARKET WEAK
Tendency to Lower Prices for Fin ished Steel Products Continues. Great Northern Increases
 Order to 71,000 Tons

New York, February 21.-(Special)- The Iron Age will say tomorrow: The tendency to lower prices for finished steel products continues.
 How far the easier prices of recent weeks are due to the extremely cold weather and the resulting railroad em- bargo Is not clear. A few weeks will show whether more permanent causes are operating to affect the volume of iron and steel business. The car situ- alton has been a serious problem and the breaking of blockades at terminals may be a matter of several weeks.
 The possibility of pig iron purchases by the Steel corporation is still being canvassed. Its stocks of pig iron have been steadily reduced. even with the blowing in of additional furnaces. About 10000 cars have been under ne- gotiation lately. of which 2750 cars are expected to be placed this week by the Western Maryland.
 The Great Northern order has been increased to 71,000 tons, Of which the Pennsylvania and Maryland Steel com panies received 10000 tons, the Lacka- wanna Steel company 20,000 tons and the Colorado company 31.O00 tons.
 Bars and plates are commonly. on a $l.10 basis Pittsburg and structural steel has sold at that figure, though some producers of shapes are maintain- ing s1.15 Pittsburg. Tie sheet market is weaker than at any time since early December.
 The leading wire company is report ed to have a larger tonnage on it's books than at any time in its his tory
 Pig iron markets are exceedingly dull, with no immediate prospect of any significant activity. Southern foun- dry iron is selling at s10.25 for sec ond quarter and the amount of SIC iron obtainable for prompt shipment Is not large.
 Cleveland, February H.-(Specal.)-Th Iron Trade Review said today: Weather conditions still interfere with building operations and delivery of products. There is much complaint of inadequate rail road service. Further softening of prices has characterized the finished material market in. the east. And this is true to a lesser extent in some other ports of the country. On the whole, develop ments are not encouraging.
 For delivery in the south and in the Chicago district the $1O quotation on No. foundry pig iron seems to have dis, appeared. On iron delivered in some other centers S10 is still quoted. The Carnegie Steel company has been awarded the plates and shapes for two coastwise ves- sels. requiring from 25000 to- 30.000 to be built by the Toledo Shipbuilding com pany. The Great Lakes Engineering works. Detroit. has been awarded two coastwise vessels. but has not placed a contract for the plain material. The New York Shipbuding company has, taken contracts for two oil carriers for the Standard oil company. each. of which will require 1000 to 5000 tons of steel.
 An eastern buyer is in the market for 25,oOo tons of plates, 15.OO0 tons of shapes and 1000 tons of sheets. The Eastern Steel company will furnish 3S00 tons of plain material to the McClntic- Marshall Construction company for the Boston and Maine shops at Belleria, Mass.
 The Pennsylvania railway will build 1900 cars at it's Altoona shops this year and is placing contracts for some material for these cars. fhe New York Central has recently placed 1I50 tons additional for terminal work in New York city. The Illinois Central has purchased Ia car loads of bolts from the Continental Bolt and Iron works, Chicago.
 The Great Northern has awarded the Pennsylvania Steel company 15,000n tons of open hearth rails. and the Maryland Steel company 5000 tons of Bessemer rail. The Northern Pacific has divided 7s00 tons of rails between these two mills. The Pennsylvania Steel company has also taken 1S09 tons of girder rails for a Brooklyn railroad.
 The Chesapeake and Ohio railway has ordered 25 Mallet locomotives and 2i Mikado locomotives from the American Locomotive company.
 With the exception of 50,00O tonsi of Bessemer ore sold at the price which pre- vails later in the season no transaction fin lake ore are reported Some old range mining companies are taking very de- cided stand against a reduetion of more than 9 cents per ton this year and will sharply curtail production if greater reduction is made. These companies pre- fer to allow the ore to lie in the mines rather than sell 1t at sacrifice.