New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-11-22

Wall street sentiment 10 h'OiS "N'
tain than a politicians promise. Yes
,ordav the change 10 bullishness was as
sudden as the explosion at the old Equi-
table building. In both instances some
If the outsiders got hurt.
Prospect Of Railroads.
Baltimore & Ohio's splendid showing for
october probably is the advance agent
n other big earnings reports by several
,7lroad systems. Among the interests
.loserv identified with the progress Of the
business Of the system it is said that
t,tb the Union and Southern Pacific lines
Min exhibit good earnings statements for
che month of October, and these state
cents are expected soon. With the
,,ol,,me of traffic now testing their ca
racf+jes western railroads should make
favorable showings for the remainder Of
this year at least.
iron and Steel Trade.
NJ indications at present of a slowing
s,.r,., If business among the steel interests
ore shown by the reports Of the iron and
stseI trade which appear in the editorial
summaries OF trade journals this week.
THE Iron Age says
astsel trade conditions thus far show no
,h.roa which can be considered due 10
rIaDs announced for early legislation on
it, though ii IS known that the buying
,,or3cv of many manufacturers Will be con-
sarvatlve in view Of their opinions as to
che eject Of tariff reductions.
THE steel Corporation is operating 30
,..r cent Of its steel making capacity. and
let week reached SO per cent. Its book
i,-s are still running in excess OF It's pro-
auction. and its policy appears to be TO
I'm AZ far into next year as buyers needs
raorire al the contract prices now ruling
aRauroad requirements have again been
, large factor IN the weeks business. Car
orders have been estimated at from $4,000
~ 1900. In the Chicago district $4,000
TONS of car material was closed by one
seller. nearly all for delivery in the second
half Of 1918. In Eastern Pennsylvania in
op,ries are up for $4,000 tons Of rolled
steel for the second and third quarter de-
livery 10 @ railroad car works
IT IS estimated that more than 2,0o0,-
200 tons Of rails are already booked for
1913. The United States steel Products
Company has taken $4,000 tons for the
DEMONSTRATION Railway. OF the $4,000
tons ordered for the New Haven and con-
trolled lines about $4,000 tons each goes
10 Bethlehem and Pennsylvania steel com
NAMES and IS 900 tons to the Lackawanna
company.
steel making pig iron has been more
active one steel company at Pittsburgh
has bought 10000 tons Of Bessemer iron.
SIT at Valley furnace being tine basis for
a part. but on nearly 10000 tons ST 25 at
furnace was paid. Late sales Of basic
iron. including one Of 1000 tons for first
quarter delivery have been made at SIG so
Valley furnace"
THE Iron Trade Review has the fol-
lowing:
Selling of iron ore for 1913 delivery
has started in at a lively rate, and fully
:. 600 600 tons have been booked. II is ex-
pected that within very few days large
Dercentage Of the ore offered for sale will
be taken by consumers. It had been ex-
pected that 1911 prices would prevail, but
on account Of the reduction in freight
rates Of Minnesota ore carrying railroads
since 1911 Of 20 cents a ton the frm
which made the first sale Of the season on
tuesday decided TO shade 1911 prices by
10 cents, making the schedule Old Range
Bessemer, 81 40; Mesabi Bessemer, 81 IS {;
Old Range Nonbessemer, SO so, and
Mesabi Nonbessemer, SO 40. This schedule
IS an advance Of IS cents on Bessemer
pres compared with 1912, and an advance
Of so and So cents, respectively. on usual
quotations on Old Range and Mesabi Non
Dessemer"