The star-independent. [volume] (Harrisburg, Pa.) 1904-1917, 1914-11-28
BIC Sales OF PIG IRON
feature WEEKS MARKET
Announcement Prom Pittsburgh That a
Leading Steel Company WIN Sell at
Present Prices for First Quarter Of
Next Year

N0xt year
New York, Nov. 2S.r-"The Iron
Age says sales of pig iroh ty Buffalo
furnaces amounting to 10000 to 300.
ooO tons are the chief feature of the
IRON market in week that has brought
little change in finished steel. A de-
velopment at Pittsburgh that may be-.
come important is the announcement
that leading steel company will sell
at present prices for the first quarter Of
next year and is authorizing its sales
managers to meet the market.
1t has been found that the better
sentiment of the past three weeks has
not kept prices from yielding. and it
is evident that the policy of important
steel producers will now be TO sell Trce-
ly for the first quarter of 1915 at the
best prices that can be obtained. This
may result, as in the closing weeks of
1911, in a more active market and
make December, as is being predicted,
the best month for bookings in the final
quarter. Prices are now close to the
well-remembered level of those of three
years ago.
The sales of pig iron at Buffalo in
two weeks have been close to 250,000
tons, and by some authorities those Of
the past week are put as high as a60,-
600 tons. The American Radiator
Company alone took 100000 tons FOR
delivery in the first half of 1915.
There were also two 15,000-ton lots,
several of 10000 tons and consider
able number of 5000 tons. Most of
the buying was for New England and
New York State foundries, and $12 for
No. X was generally the basis, though
this was not the minimum. Buffalo fur
naees are generally sold up far into the
first quarter, some well into the second
quarter, and asking prices of two inter
ests are now S13, with $3.50 as mini
mum for early delivery. One furnace
company will shortly blow in furnace
at Buffalo and one at Detroit.
In other districts Cincinnati, next to
Buffalo, has been active in pig iron,
sales there of both Northern and South
ern iron being the largest in several
months. There are indications that the
buying by large foundry interests, who
were attracted by recent low prices, will
broaden into a considerable movement.
Sales of Southern iron by the Steel
Corporation were 10000 tons last week,
including 10000 tons of basic to an
Ohio river plant. Three lots of 5000
tons of basic were placed in the Cen
trail West by the American Steel
Foundries for Alliance and Sharon
works, 10000 tons at $12.75, deliv-
cred, and 5000 tons at $3.50 at fur
mace.
November orders in finished lines
have been less than the October aver
age with some producers. The Steel
Corporation bookings, including ex-
port business, have averaged about the
same as for last month and in the past
week have been slightly better. Its in<
got production is now at SS per cent.
of capacity, after having been consid-
erably less early in the month. Out
of its 119 blast furnaces, "A are idle,
the active capacity being 40 per cent.
of the whole. Since November / a num-
Der of furnaces have gone out, includ-
ing one Duquesne, one Ohio and one
Central at Cleveland, in the past week.
Published statements as to steel
works and rolling min assumptions are
misleading. There are alternating stops
and starts, the latter being published
and the former suppressed. In the in
dustry as whole it is doubtful if any
real gain has been made in employ
ment this month.
Bars, plates and structural shapes
show a shade more activity this week.
In the Central West the first two have
sold at Lose, Pittsburgh, in ordinary
business. The weakness of steel bars
is due in part to the competition of iron
bars, a sale of the latter, made at Buff
falo, figuring back to soc at Chicago
district mill.
The New York Centraps 25,000ton
rail order has been placed with the
Lackawanna Steel Company and large
ly will be rolled before 1915. Some
foreign rail business has been done of
which details are not given out. Of the
$4,000 tons of 60, 70 and S0-pound
rails and 5000 tons of track supplies
for Norway, bids will be opened at
Christiania on November q.
The length to which cast iron pipe
makers have gone to get winter work is
shown in a bid of $3.50 on 1000
tons of 6O-inch pipe at Boston this
week, the next lowest bid being
$2O.75. Dayton, Ohio, is in the market
for $500 tons of to 36-inch pipe.
Our London cable refers to the sale
of ferro-manganese afioat at $62, C. j..
f., Baltimore, although $6S was nomi-
nally the market before the British
government embargo. No new ship
ments from England have yet been ar
ranged for, as the result of Washing
ton negotiations. In the case of man
ganese ore the State Departments ef-
forts released loaded vessels at Indian
ports forthe Steel Corporation, but there
is no promise of further shipments to
this country from India.