The Birmingham age-herald., 1913-07-24
IMPROVED FEELING
|. IN THE IRON MARKET
Southern Pig Iron Firmer.
$10.50 Kind Scarce
STEEL CONTRACTS LET
New Buying Very Much Limited De-
spite Improved Feeling Among
Railroads in Regard TO
Placing Orders

Cleveland, o.. July es.-(special)- 1.-THE
Iron Trade Review, tomorrow will say:
Distinctly improved feeling permeates
the iron market There is a general feel
ing that pig iron prices have reached
rock bottom and buying in a quiet way
by pig iron meters has greatly increased.
Whether the present Improvement in con-
ditions is permanent and will make fur
ther progress, or whether it is only a
temporary rebound from the recent very
low prices, will soon be determined.
Southern pig iron which so often is the
first to show weakness and also the first
to gain strength in a period of depres-
sion. is firmer and the $40, 80 iron is not
easy to find. In nearly all consuming CEN
ters there is improved demand, but In
some places, particularly In the east
transactions are being carefully guarded,
| presumably for the reason that If the
extent of buying we're known prices would
be unduly stimulated.
1t has finally been decided that the
American Bridge company will fabrieate
all the 5000 tons required for the new
May company building, Cleveland, but a
st. Louis firm will do the erecting. The
Art Museum, Cleveland, 1900 TONS will
be erected by the King Bridge company
of that city. The steel for the Lehish
plant for Bethlehem Steel company, $500
tons, will be awarded to Mlliken Bros,
incorporated. The new open health steel
works for the American Iron and Steel
Manufacturing company, Lebanon, Pa,
2300 tons, has been awarded to the Amer
lean Bridge company, which will also fur
nish 24OO tons for the addition to the
Ritz Carlton hotel, Philadelphia. The De-
troit-Superior viaduct, Cleveland. will re-
quire 26S0 tons of reinforcing bars and
$50 tons of structural steel Bids are now
being asked
There Is improved feeling among rail-
roads in regard to placing orders but still
new buying is very much limited. The
Chesapeake and Ohio Railway contract
for 5000 tons of steel pars at the fun
price.
The Baltimore and Ohio has contracted
for 1000 tons of shapes for a bridge at
Glenwood, Pa, to be erected by the Amer
ican Bridge company.
Eastern plate makers are enjoying an
increase in orders which in some cases
are SURPRISING the full capacity output
of present operations. The Cambria Steel
company will furnish six o>eight thou
sand tons for boats just plied.-
Considerable vessel work is in prospect.
Contracting for steel bars continues.
One contract made by the Illinois Steel
company calls for 25,0o0 tons.
The price of cotton ties for the season
4 Io- Hxa 81 uta Nar httra a
Fears entertained some time ago that the
mills would not roll enough ties to meet
| the demands for cotton farmers have not
| been realized Connellsvile coke pro-
ducers to a greater extent than ever be-
fore are standing together and are main
tanning a price of $3.50 on furnace coke
| for the remainder of this year
| New York, July 3.-(Special. .)-There are
some evidences of improvement in de-
mand as we'll as in sentiment the latter
| being plainly attributable to the better
| feeling i'm New York financial districts.
| The tangible facts on the favorable
side are the buying of 10000 tons of bars
by implement firms, the first ear orders
worth mentioning in several weeks and
an increase in the business closed by
fabricating firms. Some good sized bar
business in agricultural machinery lines
| is pending.
The new car orders amount to about
1900. The New York Central has already
placed 1000 steel underframes. 1t is ex-
pected that the Southern railway order
for 5000 tons of rails will be given out
this week. The Memphis-Dallas and Gulf
railroad has bought 5000 tons.
The buying of cotton ties for the sea-
son of 1918 began this week on the basis
of 81 cents a bundle. Estimates of the
seasons requirements range from 100000
bundles and upward.
| While prices new fabricating con-
| tracts are far from satisfactory. the
volume of work awarded has increased.
Tt is estimated that 100000 tons is now
urder consideration much of which is
expected to be let in the next 60 days.
The Chicago district leads in pig iron
sales in the past fortnight a very con-
siderable part of the total there going at
lower prices than the furnaces are now
quoting.
In other sections, while a good many
sales have been quietly put through, there
has been no broad buying movement.
Prices in the east and central west are
not yet on firm ground.
| Sales of 10000 tons of southern iron are
reported for shipment to Australia