The Birmingham age-herald., 1913-05-22
PIC IRON SHOWS A
FURTHER DECLINE
Small Volume of New Con-
tracts
SCARCITY OF LABOR
Pig Iron Buyers Showing More In
terest in Market, But Actual
Contracts Are Few-Below
the Regular, Prices

New York, May H.-tSpecial.) THE Iron
Age will say tomorrow:
The situation this week is marked by
further decline In pig iron and in old
material and in the steel trade by the
continuance of specifications at the rate
of 20 to % per cent less than that of
shipments. while new contracts are of
comparatively small volume In Chicago
and the central west the feeling is rather
more cheerful though without definite
sis apart from the sentiment created by
unusual crop promise. The possibility of
even a small advance in railroad rates
whatever is not counted in the steel trade
among the factors bearing on the early
future. Labor demands In consuming in
dustres, particularly in foundry trade,
are more numerous.
Buffalo and Los Angeles have been
picked by the ma chinists' union for a test
of strength. and in the former city a
number of large plants have been closed
down. Scarcity of labor is reported in a
number Of centers. Whatever recession
there has been in general business has
had little effect on consumption of iron
and steel, though the melt of foundry
iron is slightly less because of strikes.
Reports of cutting in sheets are not fully
borne out, but it appears that mills which
were getting premiums in March and
early April are now quoting below what
are called regular prices. Pig iron buyers
are showing more interest In the mar
ket, but actual contracts are few, though
sellers are looking for an early break
in the deadlock. In a few cases deals
have been made quietly, and presumably
at low prices. Southern iron has sold
at $11 90 Birmingham for No. 2, or %
cents less than in the previous week Ex-
port sales were made at s11 80, Birming-
ham, for shipment to Italy and Austria,
and lately some little business has sprung
up with Rio Janeiro
So buyers have intimated that at s11
they might be disposed to close for their
requirement of southern iron.
Cleveland. o.. May N.-(Special) THE
Iron Trade Review tomorrow will say.
tremendous consumption of The pred
ucts of furnaces foundries and finishin Z
mills is still strongly oontrasted with the
very small volume of buying. Veteran
observers say that this condition is more
striking than at any period in their recol.
lection. There must soon be considerable
Duy1ng II the present rate of ronsunlp-
ton continues. This buying, however il
for prompt delivery ON until 1t become,
apparent whether she new tariff and
other conditions Will seriously interfere
with business during the second half of
the year.
On the whole, the prevailing sentiment
in the finished material market has I'M
proved and there is increasing confidence
that with heavy order books liberal speci-
Tying and absence of cancellations, there
will soon be a turn for the better whit,
agricultural implement makers still hesi
tate, sale of 5000 tons to the implement
trade of Chicago has been made by the
Illinois Steel corporation. Scattered rail
orders booked by the corporation during
the week reached 5o}) tons.
More than 25,000 tons Bessemer and cpen
hearth sheet bars have recently been sold
at s27 MILL and pen,,ipg inquiries involve
about 21,o00 tons, which be obtained
at about $3.50 for either prompt or for
ward delivery. In eastern territory, buy
ing of biletts is not very active, but
there is an insistent demand for prompt
delivery of tonnage under contract.
The Carnegie Steel company will FUR
nish 5000 tons of material for the Cana
dian boat which is % be built at the Port
Arthur plant of the American Shipbiuld-
ing company. The Lukens Iron and Steel
company was low bidder on about 1000
tons of plates for the two golfers Maui
NEE and Kanawha. kttempts of buyers
of plates in eastern territory to obtain,
concessions on plants of 81 a ton have
been unsuccessful. Many foun1ries ara
SO busy that they have requested antici-
patton of shipments and some have al
ready received all ttat is due them on
contracts up to July hence it is clear
that unless there should be very sudden
reduction in melt, buying of foundry iron
will soon be absolutely necessary. II is
also believed that users of steel making
irons cannot much longer remain out Of
the market. The Tennessee Coal. Iron
and Railroad company reports sales of
about 25G00 tons, largely of foundry
grades, including some export business.
Shipments are now being made to Brazil.
which offers. a new mGrekt on account Of
the new gulf line ooais Leading makers
still quote s12 for No. foundry, Birming-
ham, but an increasing tonnage is avail.
able at s11 80 to $l1 10 and the southern
1 l.