The Birmingham age-herald., 1914-09-10
QUOTATIONS BEING
 FIRMLY MAINTAINED
DulIness in Steel Making Pig
 Iron Somewhat Relieved
II FURNACES IN BLAST
Ferromanganese Situation Greatly Relieved During Past Week-Pig
 Iron Dull Throughout the Central West

Cleveland O.. September 9.-tspeciaIo The Iron Trade Review tomorrow will say:
 Financial conditions dominate the iron trade, whose duIlness is more pronounced than it was week ago. Particularly lset an almost entire absence of buying by the railroads is the tightness of the money market reflected.
 Numerous important building projects have been indefinitely delayed, including thes~terminal station service corporal ton at Newark, N. l., requiring 9000 tons of steel which has been awarded. The car. rying out of his project has been stopped temporarily by the insurance company, which is depended upon. to finance it.
 Tn spite of the very slack demand for nearly all kinds of iron and steel prod ucts, quotations are being firmly main tained on account of the expectation of greatly improved business at later date. Prices have not been tested. however, and concessions are likely to be made unless the demand improves soon.
 The dullness in steel making pig iron has been relieved somewhat by the ap- pearance of the LuiSins Iron and Steel company in the market with an inquiry of from 30 to 40 tons of basic, mostly for delivery in the next year. An in- qulry has appeared in the eastern mar ket for 200J0 tons of standard low phos- phorus pig iron for European delivery. The pig iron market throughout the cen tral west is very dull
 The pig iron productions last month show an increase of 4l,l59 tons. com pared with July. The total production for the month being 1896, iS3 tons. The gain was due entirely to the increased activity of steel works furnaces. Dur ing the month Il furnaces were put in blast and the same in number blown out
 The ferromanganese situation has been greatly relieved by the news that con- siderable tonnages are now afoat and en route to this country and by sales made by the United States Steel corpora tion at $S5. A round tonnage of Cuban manganese ore is being offered for sale at Philadelphia.
 towing to the inability to sell their securities, cities are proceeding very slowly in placing contracts for cast iron pipe. Toledo has rejected bids for 5700 tons for financial reasons. The contract for additional segments for tunnel con- struction at New York calling for g, 900 tons of iron will soon be awarded
 Recent English offers for billets, sheets, bars and slabs have not been very attractive to American makers and little actual selling has been done The domestic demands are not brisk, although liberal specifications are being filled against old contracts"
 
 Iron Age will say tomorrow:
 The falling off in new business at home has been more marked in Septem- Der. and export trade does not develop fast enough to make up the loss. Sen timent is not as hopeful as 1t was 10 days ago. There is more tendency in view that quiet market is to be looked for during the remainder of the year.
 Enquiry for exportation continues and England is asking for billets, sheet bars, wire rods and skelp to replace semi-f fn- ished steel that has been coming from Germany, but sales are not heavy, and the Steel corporation is making most of them. An agitation has begun for Brit ish duties on steel imports.
 August pig iron production indicates that steel works kept up their rate of operation through the month. Our sta t;stcs show a total of l 1895, ,26l tons, or ut,o"v 'oiis d dtty dSdinot oo,iou touS u day in July. The net increase of about l200 tons q day represents 1900 tons a day increase by steel works furnaces and TOO tons a day decrease in the merchant fur nace output. The increase was practi- cally all contributed by the Steel corpora ton.
 Inquiry for 30,00O tons of basic pig iron for delivery after January came up at Philadelphia and the result thus far are sales of 10000 to 15,000 tons for this years shipment at about $14 delivered.
 Southern makers are holding more stiffly to s10.25 Birmingham for No ? pig iron and s1O iron is not plentiful. In the Chicago district northern iron has weak ened in the competition with southern and some sales have been made there at $l3.50 delivered.'