The Birmingham age-herald., 1913-12-11

$4,000 tons of basic from the Tennes-
see Coal Iron and Railroad company
for delivery at st. Louis during the
first quarter of next year. Contracts
for tin plate placed recently by packing
interests and other large consumers
not, however, including the largest
buyers. exceeded 100000 boxes. The
improving sentiment in the steel mar
ket is not very decided but is encour-
aging.
While many companies are operating
at less than so per cent of capacity
the reduction of forces seems to be
checked In many quarters there is in
creasing confidence that Improvement
will be marked before the new year
has advanced many weeks.
The Union Pacific railroad has issued
an inquiry for 5000 cars. 1t is under
stood that another system will shortly
inquire for 5000 cars. This is the
most important business that has de-
veloped among the railroads for some
time. Railway buying of the past
week has been light. The Maryland
Steel company, which recently took
an order for $500 tons of rails for the
Norfolk and Western and shut down
Its rail and billet mills and steel
plants about three weeks ago has re-
sumed. The Norfolk and Western has
also ordered 400 tons from the Beth
lehem Steel company. Railroads are
inquiring actively for track fastenings
and this is regarded as favorable
development.
Rail orders are slow, but it Is eS-
pected that considerable tonnage will
1, fala
steel for the new capitol of Missouri,
about 5000, tons was keen. The Steel
corporation was underbid and the
erecting will be done by st. Louis
firm, while the shapes will be fur
nished by the Jones & Laughlin Steel
company. Pittsburg, which has also
taken the postoffice at New Haven,
Conn, for 100 tons.
The contract for the 1900 tons for
the Ford Motor company's assembling
plant at Philadelphia has at last been
awarded to- the Bethlehem Steel COM
pany. The plates for the two bulk
freighters for lake service, $1,000 tons,
will be divided among the Carnegie
Steel company, Lackawanna Steel COM
pany and the Labellete Iron Works.
The Carnegie Steel company will fur
nish from $500 to 1000 tons for ferry
boat for the Florida East Coast rail-
way.
steel bars are now freely quoted at
s1.20 Pittsburg for any considerable
tonnage and quotations on plates,
shapes and bars are on about the same
basis. A New York company has taken
orders for $500 tons of reinforcing
bars. including 1000 for the Brooklyn
Rapid Transit.
Business develops very slowly on
both iron and steel bars and mills are
running at reduced capacity.
New York, December 10.-(Special)
The Iron Age will say tomorrow:
Pittsburg Is the source of whatever
encouragement the steel trade has
found in the past week, and this is
based largely upon the fact that the
buyers of bars have been sounding the
market to get at the basis of con-
tracts for the first half of next year
There is also in all markets more in
quiry for spikes, angle bars, tie plates
and other track fastenings, indicating
that a number of railroads are plan
ming for a fair amount of track lay
ing.
Prices of both pig iron and steel
products have settled further but steel
manufacturers are less willing to make
concessions on hand-to-mouth busi-
ness. They are more disposed to re-
serve their cuts for real buying like
that of two years ago, and that sort
is not yet in sight.
The Steel corporations statement,
with it's reduction of but 117.420 tons
In untitled orders in November, as
against 100000 tons in October shows
a gain that the tonnage figures stand
ing alone lack much of indicating the
trend of the steel trade. On Novem-
Der 80, orders on hand were 4,396,347
tons; on October 81, they were 4,513,-
767i tons. Reduced output of mills is
certainly not a good feature, yet 1t
keeps the untitled tonnage from fall
ing.
While the rate at which new orders
were booked is not stated. tin plate
contracts for 1914 were a considerable
factor.
= Pig iron markets east and west have
been quieter though there are evil
dences that number of good sized
buyers are close to the point of con-
tracing. Cleveland and Buffalo have
been noteworthy in connection with
the low priced transactions in the past
week.