The sun., 1912-07-21
FOR STEEL
PRODUCTS CONTINUES
July Business Continues in
Heavy Volume; in Excess Of
Manufacturers Expectations.
FURTHER PRICE ADVANCES
Higher Quotations on Many
Minor Products; More Impor-
tant Kinds Get Premiums.

tdnC Minus tcC ffomlumSs
The demand for all kinds Of steel prod.
ucts during July has been in excess Of
what manufacturers had expected ; in fact
they had almost hoped for a letting up IN
the buying pressure during the hot wealth.
er. as they look for higher prices in the
fall. II buying n deferred until then. Il
would mean that they could catch up .
little on their unified tonnages and get
better prices when the contracts are
booked. However, not only 10 there ex.
pected to be q great buying movement IN
the fall because Of the excellent crop out.
look. but there promises to be little
let up during this month and August.
From q number Of sources reports have
been made that the article In u well
known trade journal stating that there IL
iuii IN the trade was not correct. Some
companies note an increase In new orders
over those placed in June. while others
md that there has been very little De.
crease from the high level Of orders
booked during that busy month.
The incoming business Of the United
states Steel Corporation has been run
ming very close to production. and q very
small decrease. II any. Is looked for in
the unflled tonnage statement for July.
Prices have everywhere been firm with
number Of advances noted in minor
products. while for plates and str,icturais
premiums Of II to - q ton are being
charged for prompt deliveries. The plate
market 10 the busiest OF any class Of the
trade. principally due to the great buying
movement BY the railroads for cars and
locomotives. which Is increasing rather
than abating.
Among the price advances made during
AN~ o.
plates and e3 ton for galvanized sheets
by the steel Corporation: u to ~ a ton
advances Ia, axle prices by the Carnegte
Steel Company ~ a ton for iron bars in
the Chicago district: u to ~ a ton on
spikes by the Jones 4 Laughlin Company,
and ~ ton base and ~ to IS a ton
on highly finished forms Of wire BY the
American Steel and Wire COn,par,y.
The American Steel and Wire COMPANY
IN one OF the largest subsidiary cor, pany
contributors to the United States steel
Company's net income, and this ADVANCE
IN wire prices will mean much to the cor
poration's earnings The output Of this
subsidiary is expected to be close 10
s.ooo.ooo tons this year. The advance In
wire prices becomes effective to.morrov.
and Is due to tho great demand for wire
and wire products growing out Of the
crop outlook.
The Cambria Steel Company 10 in such
a sold up condition that II has practi.
caliy withdrawn from the market as a
seller OF steel.
Recent car orders by the Erie. Boston
and Albany. Reading. Pennsylvania and
other lines bring the total announced last
week to over $1,000 cars Of all kinds. re-
steel: II has been reported that other
car inquiries have been closed. including
that for the Hartman lines, and n this
- true the total orders Of the last week
would amount TO several thousand cars
more; Ihere are now pending contracts
tor aoout $4,000 cars. which Is close TO a
record and nearly equal to the total orders
placed during all 1911. which only came
to $4,000. The New York Central is
reported to have inquired for 10000 cars
ana number OF locomotives Besidos
.ney large orders and inquiries IL 10
thouGht that many railroads, especially
the smaller ones. are holding back their
INQUIRIES until the crops are a Nttic fur.
thef advanced and the present excellent
OUTLOOK becomes moro OF a certainty.
Rhli mills are not taking in many large
NJ" orders. but they are booked 30 far
o'ders. including $4,000 tons Of rails for
,anadian roads. which will be filled IN
the Dominion after having been before Nh.
american market for some time without
any bids coupled with guarantees Of
prompt deliveries.
"o"eS * AauBnIIn company made
general advance In wages last week
which brings the wage schedule up 70 that
OF the United States Steel Corpora tion
which made advances In wages some time
ago There has been . great SHORTAGE
OF labor In the steel district and higher
prices nave had to be paid for |
some kinds OF labor than usually prevsii
SHORTAGE Of labor has been one factor
IN keeping down production in some mills
ana plants. The hot weather and tho
necessity OF making repairs have Also
been factors In reducing the percentage of
production to rated capacity. but steel |
nanutaeturers are everywhere operating
AZ tne highest rate possible under these
conditions and many OF them are operat.
ing at close to 100 per cent Of full. The
United states Steel Corporation has been
averaging around 30 per cent. OF full en-.
pscNy. as against high record for the |
scaT curing part OF May and June Of over |
70 per cent. OF full. The reduction IL duo |
TO the adverse influences mentioned,
Ihe Steel Corporation has made a large !
appropriation for tho construction of moro
open hearth capacity for the American |
sheet and Tin Plate Company.
steer Joobers and the warehouses are
'iveries owing TO the congestion Of the
MUS IN nlling the Jobbers' orders. Premi. |
ums are being taken By tobbers for |
prompt deliveries Of cast iron pipe, plates.
shapes and structurais
cast Iron pipe makers arc % rushed
with business that they have made q rule |
that all quotations are subject 10 immedi.
ate acceptance or they wifi be withd rawn
within twenty-four hours. Pipe prices |
nave advanced 30 cents a ton to e:s a |
ton Tor all sizes from six to twelve
inches. with further advances contem.
plated soon.
Virginia and Pennsylvania pig iron
makers have advanced prices from Is 70 /,
% cents ton for several grades Of iron. |
Connellsville coke operators have held |
nrmiy to their quotation OF $3.50 q |