New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-08-01


raiiroad companies anxious TO make re-
heWaIs. The experience which the rail-
ROAD companies have had this wear has
feeh such as TO cause them 70 return to
theh Old custom of placing orders long
IN advance e their requirements. Such
4 change VIII be o most agreeable ono
| 10" the steel manufacturers. as the rail
situation has by no means been 10 their
liking FOR the last couple OF years. Chi
cago reports about 10000 tons Of rails
under consideration in that district FOR
delivery this fall. The Brooklyn Rapid
! Transit Company is in the market for
approximately $4,000 tons os rails for
subway construction
I Large orders for steel plates and
! shapes have been placed by Eastern
shipbuilders TO cover requirements on
vessel contracts. II is stated that one
shlpbuilder has bought 5000 tons from
two mills. Other vessels for which con-
tracts have been placed with builders
Will require additional heavy quantities
| OF steel 'abricators Of structural work
are now quoting considerable higher
prices, having evidently changed their
.
advantage or plain material bought at
comparatively low prices some time ago
Heavy buying OF pig iron has taken
| place IN Western markets. St Louis re-
, ports over so 900 tons contracted for IN
the last week. Of which 10000 tons was
! basic. going 10 single customer The
/ makers Of malleable castings whose
! business has been heavily increased by
| reason OF the excellent crop prospects
as we'll as the better demand for railroad
| equipment. have purchased good guam
titles OF malleable Bessemer pig iron, the
| statement being made that one user has
bought from $4,000 to $4,000 tons for
delivery extending into the first half OF
! next year
( THE Iron Trade Review has the fol-
lowing:
| Prosperity. with all Indications Of
| permanance. continues in increasing vol
ume in the iron ana steel industry.
Prominent Independent companies took
| the lead in the most important price ad-
vance OF the week that OF 81 a ton in
| shapes, plates and bars. The Steel Cor
porstion and some Of the smaller irde-
pendent companies generally have adopt
\ cd the new schedule THIS price advance
was made very quietly. because there ~
q general feeling that the one peril IN
the present happy condition % affairs IL
| the possibility Of q too rapid advance
| IN prices. Some companies also desired
| the privilege Of selling az recent quota
| lions for the last half Of the year The
total shipments Of the Steel Corpora
ton for the first half OF the year, IL is
estimated, will amount to about 100000
tons. which is the highest half yea"
mark on record"
National City Bank.
The National City Banks digest END
review Of conditions for August contains
SONS interesting information. The toi-
| lowing paragraph IS an extract:
The best news in the papers these days
s that about the crops II commands at
| tention among business men 20 the OK
cluslon OF Presidential prospects, the 40
iurs Or Congress or the foreign DIS
patches Tire country needs a bumper
crop. II would help everybody. lie would
turn the food markets downward and re-
Have the tension IN industrial circles
where the high cost OF living has been
unseitling all wage agreements. 1T wouid
give the railways guarantee OF full
tonnage and put new confidence into
every branch OF production and trace
One great crop, happily. IL already MADE
and that IS hay. A year ago AZ this time
nearly tae entire country was suffering
| from crouth TIE hay crop OF 1871 was
thu smallest the country hed produced
1 since 1875. being Dut 100000 tons, as
! compared with an average OF 100000
| ions IN the next previous Ave years, Hay
end pasturage are vital factors in the
supply of milk, butter end beef TINS
season the yield is back 20 tho average
and the benefits will be realized through
ont ths year. AS FAR back az 1889 the
acreage IN hay was greater than last
wear. ana The crop was 80oo,0oo tons.
Probably few persons appreciate how
difficult II now Is 70 increase the coun-
try's production OF the stapls crops 20
meet the requirements OF our growing
population. The cities arc growing rap"
tdiv. and the acreage In farms lie III
creasing only IN the Far West East OF
ths Mississippi River there 20 less land
IN cultivation than ten years ago, ara
much Of the increase west OF the river
during that period has been in regions
having uncertain rainfall or In areas
made available through irrigation.
TT Ii difficult TO understand why 30
muoh mystery should be made ovtt the
rising cost OF living In view Of the revels-
tons OF the last census. There has never
been In the history Of the world par
ailel to the rapid settlement OF the United
States Nowhere else has there been such
A vast area O. fertile lands. with an ad-
nirabie climate, situated upon parallel
lines Of latitude with Europe and OFFER
ing equal facilities and Inducements for
migration from there. Capitol came read
| ily 10 build railroads. and population fol-
lowed in TO find homes The result vas
/ Development which made the pniteo
States the most important factor IN the
| worlds markets for food and raw ma