The Birmingham age-herald., 1913-09-25
RAIL OUTLOOK NOT
ESPECIALLY BRIGHT
Steel Bars Still Strongest
Product on List
CONTRACTS AWARDED
Pig Iron Market Shows Well Sus-
tanned Consumption by Foun-
dries-S0uthern Situation
Continues To Gain
CONTRACTS AWARDED

New York, September 24-(Special)
The Iron Age will say tomorrow:
While the new tariff law is expected
TO be in force by another week with many
many iron and steel products added to the
free list and duties on others much re-
duced, the market gives few signs of so
great an impending change. For some
time foreign bars and other products have
been quoted for Pacific coast delivery at
prices contingent on the proposed low
duties going into effect. Some American
inquiries for European billets are reporte-
ed. Like recent inquiries from this side
for English pig iron they are more an
effort to find what could be done than
actually to buy.
The impressive fact in the present situ-
alton in steel products in the slight ex-
tent to which prices have yielded in view
of the prominence given to the slowing
down of demand in so many lines. Sep
tcnlber has not borne out tho predictions
OF a fall buying movement, and yet it
has not fallen far behind the August rate
of new orders. Indications are that the
Steel corporations bookings VIII average
nearly as well as last month Its ship
ments have been at practically the same
rate, around 10000 tons day.
1t is probable that the first of the large
retail orders for 1914 will come out shortly.
giving some basis for gauging the rail-
road demands. From the standpoint OF
southern mills the rail outlook is not par
ticularly encouraging.
Steel bars are sall the strongest product
on the list, even the railroads making
bars an exception 10 their general policy
of light buying. nv supply of structural
work has been betHr and western TAB
ricators have placed new orders for plain
material.
Some sheet and tin plate plants are
down to a 80 per cent operation. The pig
iron market shows we'll sustained con-
sumption by foundries. Furnace COM
panies are holding the moderate advance
established in August.
Cleveland September 24.-(special)
The Iron Trade Review tomorrow will
say: Mills in the Chicago district has
been encouraged during the past few
davs by heavy specifications received
from car companies and by increased
demands for structural material While
the buying of pig iron in that section
also shows improvement, these condi-
tions are. however. exceptional and in
nearly all parts of the country there
seems to be a slackenins of business
with many price irregularities. The
strong feature continue to be the
heavy consumption.
The southern situation continues TO
gain in strength and very little iron is
now obtainable at less than S11.50 Bir-
mingham for No. .. In the north, how
ever. furnaces have great difficulty ia
advancing prices. Steel making irons
particularly are dull and transactions
In basic are almost unheard Of Mallea-
BILE is somewhat stronger In the Pitts
burg district round tonnage having
been sold a $14.50 In eastern territory
there is less activity and the largest
transactions of the week was the pur-
chase of 9700 tons by the Pennsylva-
MIA railroad for its Altoona plant. Con-
sumers of ferro- manganese has been
hesitating apparently on account of
tariff uncertainties, but inquiry for
from 5000 to 1000 tons is now pending
A large volume of business in struc-
tural material is pending in different
parts of the country, but it comes to
the contract stage very slowly. and
often there Is keen competition among
fabricators in the Philadelphia district.
AS low as $40, delivered, has been done
on important work. In the Pittsburg
district from $4,000 to 10000 tons are
pending but a considerable part of the
tonnage is rather indefinite. The 1900
tons required for the building of the
Anaconda Copper company. Anaconda,
Mont, have been awarded to the Jones
& Laugh1in Steel company, the Lacl<a-
wanna Bridge company has taken 1000
tons for the Union Carbide company )
plant at Welland, Ont. Half of the
1000 tons required by the Michigan
Boulevard building, Chicago. will be
furnished by the Illinois Steel company
and half by the Bethlehem Steel COM
pany. The fabricating will be done by
the Chicago Steel Products company.
Buying by the railroads continues
very light. but there is growing feel
Ing that the interstate commission will
grant the petition of the receivers to
advance freight rates 5 per cent. This
feeling which seems to be well found
ed, gives reason for hoping for large
Increase in buying by the railroads at
q not far distant date. The announce
ment of the closing of negotiations for
rails for two large systems for next