The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-08-13
THE STEEL MARKET.
ufscturers Expect That Prices
VIII he Advanced shortly.

while steel manufacturers are agreed
that the European war will result event
ually In "A sharp increase in the price OF
all finished steel products they admit that
they are laboring under considerable EN-
barrassment Just now because OF the i'm
possibility of forwarding goods abroad.
Prices, however. have been advanced
sharply of late and II is the opinion Of
leading interests that further advances
are in order.
The ferromanganese situation is seri-
Gus Leading companies have sufficient
supply 10 satisfy requirements for sew
eral months, particularly the Steel Cor
poration. hut the smaller concerns are in
danger Of being compelled 10 close SINH
lar conditions exist In the block tin mar
ket Wire products are expected to be
advanced in price shortly
Tho Iron Age says: The steel trade
r. moving cautiously in n situation full OF
uncertainties. The ultimate benefits war
will bring 10 our manufacturers are pro-
ducing one set OF predictions and prompt
ing one kind OF business policy such as
she putting up Of prices OF steel products.
on the other hand are unfavorable effects
which figure in the Immediate situation
the stopping of exports the laying off
~ thousands Of men in Industries de-
pendent IN part on the export trade. the
batting OF a number OF undertakings the
tightening Of money and the increase of
conservatism IN railroad buying.
There is little evidence that buyer.
are concerned about building up stocks.
The whole consuming trade specified quite
literally in July and there has been light
buying at the new prices.
NH operations have been cut down
In few cases because of the shutting
Off NJ foreign trade The Allentown, Pa.
plant Of the American Steel and Wire
Company, which sends pras ically all ITS
Some reduction OF working force has been
made al a New England wire plant also
TN the Chicago district the conserva-
tive attitude of the railroads has become
more pronounced There is disappolut =
rnent over the withdrawal Of inquiry for
cars by the Southern Pacific and Union
Pacific. A trolley line has indefinitely
postponed the buying OF 1000 tons OF
rails which have been before the rail
mills for some time.
THE scramble for ferromanganese has
shown that the merchant supply was
limited to n few hundred tons. A sale
Of zoo tons OF English product was made
AT 800 as against S3S before the war
and hundred ton lot was sold at SEQ
For small lots 6iec 70 &c. n pound is
offered In the East the one merchan,
producer OF spieEeesen has made con
siderable sales al S2s for l6 to 10 per
cent. manganese metal and $40 for 10 Ia
Fl per cent, as against s9S two weeks
ago A further advance is probable. Sow
eral steel companies have been rather
eager buyers Of spiegcl. which will he
used to exc ont their fcrromRnganese
supply.
IAN pig iron markets are fat with In
dicators that foundry operations have
been curtalled at some machinery centres
"Our English cable tells Of advancing
prices IN all iron and steel products. Rars
plates and shapes are up about So a ton
rails Sl5O, tin plates % cents \ boz and
cleveland and hcmatite pig iron shil-
lngs and shllipgs respectively"