The Birmingham age-herald., 1912-10-24
Unsold Tonnage Reduced to
 Small Proportions
RECORD ON LAKES
October Banner Month of Year in Pur- chases of Steel Rails-Pig Iron Market Is Tightening.
 Prices Upward

Cleveland, O.. October 2s.-(special)-
 The Iron Trade Review tomorrow will
 say:
 Pig Iron stocks throughout the country
 continue steadily to decline, and unsold tonnage is being rapidly reduced to small | proportions.
 | Stocks in Pittsburg and middle western district apart from corporations declined about 5000 tons during the first half of | October.
 | In Virginia for the first time in five years stocks are below 15oOO0 tons, and
 booked sales largely exceed this figure. Sales of leading Virginia company since October l have amounted to 70,0O0 tons. The wiping out of huge stocks of Vir- ginia iron, which has so long been con- sidered a menace to the market, prom ises to have decidedly strengthening in
 fuence in eastern territory. Two recent
 advances have put Virginia iron up s1 a ton.
 Along the lakes, including Toledo, Buff falo, Detroit and Cleveland, prices are very firm. In St. Louis an inquiry is pending for 15.0O0 tons basic. Additional
 sale of 75OOO tons of Wabana ore has been
 made to eastern Pennsylvania furnaces
 at "A cents per unit Philadelphia. Lead
 ing sellers of domestic ore in the east
 are expected to announce 1913 prices at an
 early date. Movement of Lake Superior iron ore continues very heavy, and this
 month will probably make new record for October in history of the lakes. October has been the banner month of
 the year in purchases of steel rails, and contracts formally closed already ex-
 ceed 6o0,000 tons, including large orders from Pennsylvania, New York Central, Hartman, Illinois Central, Louisville and Nashville and other lines. Hartman
 lines ordered 10000 tons open heart
 rails. of which 75,0OO will be rolled by the
 Steel corporation mills and 25.0o by Colo
 rado Fuel and Iron company.
 Supplementary orders are expected to
 bring this total to the 100000 mark. 1lli-
 nois Central has ordered 5000O tons from
 the Illinois Steel company The Mary
 land Steel company has taken orders for 25,0 GOO tons. Louisville and Nashville has
 ordered 5000 tons from the Tennessee
 Coal. Iron and Railroad company.
 Railroad officials and carbuilders have
 not fully disclosed the extent of car buy
 ing whici, is now in progress. Inquiries
 for many thousands of cars are pending.
 and orders of good size are being placed
 by leading railroads. Very few con
 tracts of importance for structural ma
 terial are being awarded. The lull is due
 entirely to the fact that few mills are able
 to give promise of delivery before July
 1, 1913. Advance coke prices and scar city of fuel have caused much complaint on part of consumers. These complaints
 have not had effect of reducing quota tions
 New York, October 2s-(Special. 1.-The Iron Age will say tomorrow: Railroad buying on larger scale than any time this year has been the feature
 of the finished steel market in the past week. Railroad contracts Just closed amount to more than 200.0D tons. and the | total for 1913 ss estimated at nearly l.
 1000 tons, which Is a record tonnage at this date
 Car orders this week amount to 13,oo0,
 with 14,OOO pending in live inquiries A single car works contract of the past week was for 10000 tons of plates and shapes.
 There is a falling off in the new busi- ness coming to steel works apart from railroad requirements since HldnuIdctuflilS consumers of steel products are covered, as a rule. until April Steel companies
 are evidently avoiding business for later deliveries.
 The present price of structural steel has
 raised a question as to the carrying out of some plans for building. October will be the countrys record month in steel ingot production. The
 Steel corporations total will probably ex- ceed 155O,O0O tons, or not far short of 60O OO0 tons per working day, while for all steel plants the rate has been around eco tons a day, or more than 31,0oo,o0O tons year.
 Pig iron markets are quieter, but prices are tightening. good many consumers, unwilling to pay the prices of September.
 have found the market In October s1 ton or more beyond the rejected level Eastern Pennsylvania has been the cen l ter of activity in the past week One cast iron pipe interest bought 24,000 tons of Virginia and Pennsylvania iron