The Birmingham age-herald., 1913-05-29
RECORD BREAKING
STEEL OUTPUT RATE
Great Activity Marks Com
panies' Operations
IMPORTANT METERS
Developments of Past Week Not of
Positive Character, But on the
Whole Favorable-Outlaok
Is Clearing

cleveland, u, may Zo.-NSpctldl.j--
The Iron Trade Review tomorrow will
say: The production of the United
States Steel corporation continues at
record breaking rate. The steel ingot
output is over 10000 tons daily. or at
a rate of about 100000 tons annual
ly. Similar activity marks the oper-
ations of all the leading Independent
steel companies. General consumption
throughout the country continues with
little diminution. but buyers still hes
itate and furnaces and mills are de-
pending almost entirely upon orders
taken several months ago to maintain
activity.
This condition cannot continue much
longer for either the consumption must
decrease or tho buying must start in
large volume. Developments of the past
week have not been of a positive char
acter, but are on the whole favorable.
This is true particularly of the financial
outlook, which is clearing.
Numerous important meters of foun-
dry grades have come into the market
with inquiries and offers to buy round
tonnages but almost invariably, upon
finding the market soft, have with
drawn. In some cases where tonnages
of good size have been offered to fur
naces and views of the buys and sellers
have not been far apart it Is expected
that several of the largest manufac-
turers of plates and structural material
report an increase in specifications.
| While 1t is estimated that structural
work pending amounts to 250,O00 tons,
many projects are being delayed on ac-
count of difficulty in financing The
most important projects are the Rock
Island Bridge at Memphis, calling for
600 tons, the Ohio river bridge OF
the Pennsylvania at Louisville, 10000
tons; the Kansas City Terminal via
duct, 10000 tons: the Baldwin Locomo-
tive shops at Chicago, 5000 to 10000
tons; the Southern Aluminium building
at Whitney, N. c., 5000 tons; the Amer
lean Zinc and Chemical building at Bur-
gettstown, Pa, 5000 tons. Bids have
been received for 5000 tons for the In
diana Steel company's blast furnace
works.
New York, May Especially 1.-The Iron
Age will say tomorrow: In the midst of
reports generally dwelling on the low
rate of new buying in rolled products,
encouragement is taken in some quarters
| from the railroad demand of the past
week. Car orders from the Erie Chesa-
| peake and Ohio and Lehigh Valley roads
make total of 10000. Locomotive or
ders have also been factors at Chicago
railroad specifications have been on a
| larger scale than for some time. In track
fastenings counting in current orders,
| there were 10000 kegs.
Apart from railroad buying, current is
not important, though it should be said
| that some of the steel companies have
found reason in the past fortnight for
rather brighter forecasts.
The indefinite change in finished mater
| ial prices is an advance of about 81 a ton
| in steel merclanf ,,i,,
Fabricators are competing so keenly that
premiums on plain material are pra-
tically wiped out on some early deliveries.
The condition of the sheet market was
the subject of conferences of manufac-
| turers at Pittsburg May 90 and 27. Cut
| ting of the 2.35 cent basis for number
| Is black sheets had amounted to 50 a
ton. Foundry iron has declined 25 to so
cents in the past week, as low as $1125,
Birmingham basis, being reported for
southern number from a Tennessee fur
mace. The buying is not yet here, but
there are few signs of closely impend-
| ing contracts, inquiries will soon reap-
pear. On a sale of 800 tons of Bessemer
| for delivery in June to a buyer at Pitts
burg the market declined 90 cents. In
eastern territory, there has been a COM
Portable increase in new business, show
| ing increasing disposition of consumers
to buy at present prices. In the south,
| further weakness has developed and as
low as 11.25 Birmingham can be done on
number 2, but increased interest is shown
| by buyers of southern iron.
| Shipments are now being made on about
10000 tons of southern iron to Hull, Eng
land, and inquiry for 7000 tons for export
| to southern Europe is pending.
The Massillon rolling mill has inquired
| for 5000 tons of sheet bars to be deliy-
cred at the rate of 1000 tons a month for
| the next two years. The Michigan forge
company is in the market for 5000 tons
of slabs Efforts of buyers of sheet
bars and billets to shade prevailing quo
tations have failed. A large volume of
inquiry for nuts and bolts has developed
in the Cleveland territory.
The quotation on bar iron has declined
to 1.50c Chicago or $50 per ton lower
than the recent minimum quotations This
condition has not affected other producers
except when they come in contact with
Chicago iron.