The Birmingham age-herald., 1912-08-22
BUY PIE IRON FOR
 FIRST QUARTER Southern Iron Is Firm at
 SIP to S12.50 ADVANCE IN PRICES Evidence That Car Buying Has Been Greater Than Reported-Nearby Needs of Buyers Still
 Dominating Factor
ADVANCE IN PRICES

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 New York, August 21.-(Special.)- The Iron Age will say tomorrow
 Nearby. rather than farther future needs of buyers are still the dominat- ing factor in the finished steel situa- ton. In sig iron. on the other hand, current buying is largely for the first quarter of 1913.
 There is definite effort by some im- portant steel companies to eliminate premiums and to keep the situation within bounds. Thus far there are no Indications that this cannot be done.
 A Canadian car company has placed 60.0oO tons of plates and shapes with the Steel corporation in the past week for the 5000 cars recently bought by the Canadian Pacific.
 Western car works have been buyers of a round tonnage also and further reservations have been made to cover cars under inquiry. There is evidence that car buying has been greater than reported.
 Besides the 22o,O00 tons of rail or ders already reported for next year, inquiries for more than that amount are pending at Chicago, including s0.- 900 tons for the Chicago and Northwest ern. a large tonnage for the St. Paul, It, ,000 tons for the Great Northern and 1000 tons for the Santa Fe. The l Hartman lines are in the market for 24,000 tons for this year. In the ex- port trade there is an order for 12.000 tons for Argentina
 Some producers have advanced prices for har for nla gal shapes $1 ton or to 1.35 and 1.40 l Pittsbufg, respectively The leading interests Is still selling at 1.30 and l1.35.
 Structural work is being freely placed at higher prices. From low point fab ricated steel has now come up sS on large business
 | Buying of foundry pig iron for 1913 is going on in large way. Prices on northern iron have advanced irregular fly. but the average is about 25 cents for the week.
 Southern iron is firmer at SIP Bir- mlngham for No. 2, for this year, and s12.50 for first quarter of 1913. A 60,000 ton sale was made to a cast iron pipe company on the $12.50 basis for No. 2. Cleveland, O., August 21-(Special)- The Iron Trade Review tomorrow will say: Heavy buying, liberal inquiry and | advancing prices characterize pig iron market. Tennessee Coal, Iron and Railroad company has sold 60,000 tons of foundry grades to cast iron pipe makers for deliveries through the first quarter of next year on basis of $12.50 | Birmingham for No. 2. This company Is now asking SIS for No. for the first quarter. About 1S,000 tons foundry grades for delivery prior to January 1 were booked on basis of SIP, Bir- mingham. This tonnage included round lot for export to Italy. Lowest price being named now on southern iron for delivery this year Is s11.75, Bir- mingham, for No. 2. A number of makers are willing to sell into the first quarter at $12.50. Birmingham, for No. I2 The southern Ohio situation Is stronger. In steel making irons, prin- cipal transactions were additional sales basic in eastern territory and making of contract by valley interest for de- livery of some 50,000 tons basic over a period of several years. Purchases of leading consumers of basic in east ern Pennsylvania for the first quarter delivery now aggregates S5,000 tons and the company is in the market for 25000 tons additional While recent sales in that territory have been at S1650 and $16.25 delivered, for first lquarter $1650 Is being firmly quoted. Inquiry of Pennsylvania railroad for 10,- 900 tons foundry and charcoal irons for delivery at Altoona during last quar- ter is largest inquiry sent out by the Ieompany in several years.
 l The company has the reputation of buying more than it inquires for. A central Ohio car manufacturer is in the market for 23,000 tons malleable and 37.000 tons northern and southern foundry for delivery during last quar- ter this year and first half next year. Although no serious difficulty has yet been experienced in getting cars, there are some complaints on the part of some shippers and it is probable that there will be much more trouble at a far distant date. Leading railroads are linquiring freely for rails for next year and the rail market Is fairly active. Principal purchasers to date have been l7b,000 tons by the Northwestern and 40 900 tons for Burlington, while Atch- lison and St Paul railroads have prao- tically closed for about 50,0000 tons each. Inquiries include 25,000 tons for for Hartman lines, 15,000 tons for Northern Pacific and 15,000 to 20,000 tons for Great Northern. Argentina and Northeastern railway has award ed 10000 tons rails to United States Steel Products company. Canadian Pa eifc has placed additional orders for 5000 cars with Canadian builders. Steel will be furnished by United States Steel corporation.