The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-08-07
IRON INDUSTRY, HIT
BY WAR, TO REVIVE
Hopeful Feeling Of Early Re-
sumption of Business in In
ternatiOnal Market.
TO RELIEVE SHIPSHORTAGE
Steel Corporation Has Twenty
five Vessels Which VIII
Fly American Flag.
TO RELIEVE SHIPsHORTAGE

BUSINESS In the iron and steel indus
try has been sadly dcranged by the E,u
ropehn war. TIE export trade has been
paralyZcd and many branches of domes-
uc CONNIE rec have suffered more or less
seriously. At tho same time there have
been some compromising DEVELOPMENTS
and there is u more hopeful feeling Of A
resumption of business in the nterna.
uonai market
retro manganese IL essential To- the
manufacture Of steel. and It il somewhat
disconcerting to find that America ia
no largely dependent upon Europe for
this material II is estimated that $40
600 tons OF ferro alloys are produced I'm
tne United states annually. including
about 100000 tons of ferro Manganese.
which Is manufactured almost entirely by
the Carnegie Steel Company from for
eisn ores. which are imported from South
America India and Europe. In addition
about 100000 tons Of ftrro manganese
are impoi ted into this country for the
use OF independent steel manufacturers.
The alloy comes from Germany and
Great Britain principally. whore L is
manufactured from Russian and Other
European ores. Foreign manufacturers
have OF course suspended shipment on
contracts with American steel makers
and the Steel Corporation !mportunc1 fo-
supplies. as early in the year the Car
negie steel Company had made safes OF
manganese to competitors when foreign
prices had advanced dnreasonably, but
retired from the market when prices re-
coded to s35 ton or less.
Recent contracts We're placed by Amor
lean manufacturers at t'7 to t3S per
ton for shipment over the balance OF the
current year only relatively small pro-
= a
In the last few days steel companies
IN tn, interior have been paying s1j a
ton for manganese. amid no little ey-
element. Apparently "A production ~
steel ingots mus, he sharply reduced un-
less ores can be obtained from south
America from which to manufacture the
manganese in this country. Few II any
merchant vessels are now available fpr
this traffic which increases the serious
ness of the situation.
The withdrawal Of foreign vessels from
the merchant marine to meet the calls or
the belligersnt Governments Of Europ"
has practically paralyZed the export trade
In the United States. as this country Is
almost entirely dependent upon foreign
bottoms for the transportation of goods
sold abroad The United States steel
Corporations foreign business is equal
to about 10 per cent. Of its total annual
sales and the corporation does about 40
per cent. OF inc export DuSlHtSs III SA''i
products with foreign countries Al
though the United States Government has
taken steps to permit tho transfer Of
foreign built ships to American register.
there Is much mlsgiving in shipping cir
cles that this will be effective.
The United States Steel Corporation,
however, will benefit largely. as has
Twenty-Five or thirty vessels under char
ter sailing under the British flag, which
will be speedily transferred to American
register. These boats are in various parts
OF tie world where they are inarooned
because of the war.
One OF the latest developments IL the
urgent demand for rolled steel products
on the Pacific coast, which for many
months has been supplied with foreign
steel at prices considerably under those
current with domestic mills the war
risks have cut off this supply from tho
I pacific coast consumers who are now
urgently seeking steel products from
/ ChIcAEo and the Eastern markets
Prices on the Pacific coast have advanced
50 per ton.
One of the most sensational develop
! ments attributable to the hoStlltles IN
Europe was the attack upon pig tin, OF
| which tin plate manufactur. re- are the
nrInclpal consumers. In less than week
prices have advanced over 100 per cent,
sales being made yesterday in TINS
market on Sic. to &c. per pound, ana AT
the close holders were asking SOC. per
pound whereas last Thursday ana FRIDAY
| mig tin sold at 30c. per pound.
| The United States Steel Corporation,
the largest consumer in this country, uses
| from 1000 TO 200 tons OF pig tin pr
month"; and the total consumption IN TINS
country ranges from $500 to 5000 tons
per month sixty per cent. of all the tin
used comes from the Straits Settlement in
/ the East Indies. The United states, how
! ever is largely dependent upon London
! for its tin supply, there being few direct
/ shipments from the straits to the Atlantic
/ ports in this country. Most OF the TIN is
transshipped at London. Relatively small
/ lots Of tin also come from Wales, Dutch
settlements, Bolivia and China but tin
/ from the latter sources is inferior Il
| quality,
| Holland has put an embargo upon the
! export OF tin. Great Britain has checked
| the exports OF some metals and war risks
have curtailed II not entirely suspended
| shipments In the Straits Consequently
in the last few days New York expert
! enced an excited and feverish market for
| tin, many ain plate manufacturers com
ing here to seek supplies II is estimated
! that stocks Of tin now In this country are
| not moro than one to two months supply.
A shutting down OF tin plate mills is
therefore probable and prices OF tin plate
are advancing. Within a few weeks tin
! plate was sold in the central West from
SO to 81 "A ton under the nominal quota
ton. This decline has not been covered
and further advance seems imminent
Even the Standard oil Company has
suspended export shipments abroad and
| incidentally had depressing effect upon
| oil steel pipe. Manufacturers ~ ma
chinery as well as OF rolled steel have
been receiving orders TO suspend ship
ments or cancelling export contracts now
In force.
xAYcEn tn DE AcXEn EOR NEWS