The Birmingham age-herald., 1914-07-30
FOREIGN NEWS FAILS TOCHECK IRON TRADE July Brings General Im-
 pr0vement in South NEW BUYING IS LIGHT 5S,00O Tons of Steel for Burlington Bridge at Paducah-Southern Pig
 Iron Sales in July Probably
 175,000 Tons
NEW BUYING IS LIGHT

Cleveland O.. July 29.--tspecial.)-The Iron Trade Review tomorrow will say
 "Although deeply interested in the E,u- ropean war news, the iron trade moves along calmly and does not share the ex- citement of the stock and grain markets. If the war is confined to Austria and Ser tvia the effects upon the iron market are l1ot likely to be important. but if other nations should become involved imports ito this country would be checKed and ex- Iports would expand.
 Some foreign products, including brush lsheets and tin plate, have already ad- 'vanced somewhat. There Is increased interest of consumers of ferro-manganese. IT Russia should become involved and shipment of magnanese ore from that country be interrupted, the price of ferro- manganese would advance rapidly, as they did during the Russo-J apanese war. when the price was as high as $le5 ton, srcmpared with the present price of s31 to s3S. Recent advances in prices of wire products, shapes, plates ana bars have had a good effect.
 Although new buying is light, speci- Vacations are coming in much more free ily. On some products, particularly .shapes and paltes in eastern territory, lthe Pittsburg basis is not rigidly adhered Ito for eastern shipments but throughout Ia large territory in the central west the quotation of .15c is being adhered to and the market is much steadier.
 "One effect has been to stop all efforts spf buyers to contact at less than .l0c. Cast iron pipe manufacturers have been the principal buyers of pig iron dur ing the past week, and have contracted for about 10000 tons of southern grades The pig iron market in most parts of the country is very dull.
 "The American Bridge company has been awarded the contract for the Burling- ton railroad bridge across the Ohio, con recting Metropolis, Ill., and Paducah Ky Eighteen thousand tons will be re- uuired. Car orders during the past week show some improvement.
 New York, July 29-(Special )-The Iron Age will say tomoTow
 European war news has not yet been . measurable factor in the domestic steel trade, whatever the railroads may have planned in extensions and equipment
 ''The effect of advances and three load ing lines to 1.15c Pittsburg has beer chiefly seen in the increase of specified tions on 1.10 c contracts previously made. More. indications appear that fair amount of business was taken by several interests on the no C basis before the advances were announced.
 Generally July has brought slight improvement in the south in finished steel. A number of independent manu- facturers report specifications almost equal to capacity. The Steel corporaton's unified orders at the end of the month are extended to sho wa somewhat greater incIkase than that for June. "Constructural movement Is again of some note. The American Bridge Con struction company has the contract for the bridge at Metropolis. Ill., and Padu- cah, Ky-1s.000 tons. At Sciotoville, o. the proposed Chesapeake and Ohio bride, 16,000 tons or more. has become an active project, only awaiting government sane ton, and the Kansas City terminal, 1000 tons is practically awarded.
 Bars continue to be the best depend ence of the mills and all have good speci- fications for August rolling in plates. The new price is more elastic. as indicated in Some eastern competition.
 Southern pig iron sales in July have been large, probably 175,o00 tons, much of this. where deliveries extend late into the year going at S10.25 for No. g. while s10 has been common price for third quar- ter iron. In northern iron the competition of central western furnaces having their own ore. is more marked in territory usually supplied from other states.