The Birmingham age-herald., 1914-05-07
BETTER FEELING
 NOTED IN PIG IRON More Interest Displayed In
 Pig Iron Buying RAIL ORDERS PLACED
Steel Production for the Country Probably 65 to 70 Per Cent of Ca pacity-Falling off in New Con-
 struction for April

Cleveland, O., May 6.-tspeciaL)-The Iron Trade Review tomorrow Will say
 Positive evidence of improvement Ill iron and steel products is still lacking, but more interest in pig. iron buying ana better feeling is noted. The production of the Steel corporation continues at about 65 to 70 per cent of ingot capacity. The activities of independent companies vary to considerable extent
 Railroad buying shows some improve ment. The Erie railroad has closed Tor 14.0o0 tons of rails, of which l2,Oo tons will be furnished by the Carnegie Steel company and 2ooo by the Illinois Steel company. Other rail orders amount to about 5000 tons.
 "Very active competition in fabricaung and erecting new buildings has not re- suited in much new buying. More than half the cities of the country show a falling off in new construction for Aprli as compared with April Of last year, put even in cities, where gain has been made, as in Cleveland. the tonnage or structural steel is light, and that of re- inforcing bars only fair.
 '.The announcement on May l that the ~~-~--~ iron ore would prevail this year came as a surprise but it has been apparent Tor sometime that furnaces would not place orders or even make reservations uhtii prices were made known. They still hes- itate and sales made have been inconse- | quential. but the delay in placing orders | Is due to uncertainty as to tonnage which will be required, and not to the expecta- l ton that further concessions will be granted.
 'srhe merchant furnaces which are not carrying heavy stocks are pleased With | the new prices, but some steel companies having stocks of ore on hand would be glad to see higher prices prevail. The re- auctions as compared with the 1915 prices are 65 cents per ton on Bessemer ore, tt cents on old range non- Bessemer and oe | cents on Mesaba non- Bessemer.
 "The statistics for jig iron for the past month indicate the rapid blowing out ol | furnaces but of the furnaces placed or | the idle list more than half went out dur | in gthe last week of Aphil, and the pro duction for the month shows only sma I decline, 1t being 2.26l.50l tons, a loss o1 l S0 050 tons compared with March. The av' craze daily production in April was 70. 7S' | tons, a loss of only 151 tons compared with the last day of March. heavy de crease in production will take place thi' month
 some relief from the doleful tale ol dullness In the pig Iron market came this week. and a slight increase in activity was noted In different parts of the coun try especially in basic. The purchase O 10000 tons of basic by St Louis compan, at sl4 50 delivered aroused much interest A number of other inquiries for basic in cluding one for 1b, 600 tons for the United Steer company. Canton are pending. II New York territory inquiries are out fo 5000 tons of foundry grade, and con sumner of low phosphorous iron is inquirini for his tonnage needed for the last half.
 While buying Is still light, some sell CTS in New York report that they sol' more iron in the first few days in Ma, than in all of April
 New York May 6.--(Specal.)-T Irol Age will say tomorrow
 Scarcely a ripple has been caused b, the news that Lake Sunperior iron or' has been quoted on Saturday for 1914 de livery on the basis of the prices of 1912 This is a reduction of 65 cents on Bes
 semer ore. 50 cents on old range non-Bes
 semer and 55 cents on Mesaba range non Bessemer from the prices of last year. Pit iron prices have anticipated the ore re
 duction for several months.
 Pig iron production in April was ?, $50 tons. against 2,s47,s67 tons in March | ,73s tons respectively. The expected cur
 tailment did not come in April, but tn
 blowing out of furnaces came thick to ward the close of the month, with ne loss of IS furnaces in April. The capac | ity active at the beginning of this mont was 1.095 tons day, over 5000 tons les
 than April 1, when it was 76.111 tons.
 Here and there Is a trace of better , ment in the market reports of the week but their general tone is unchanged
 Steel production for the country is prot
 ably 60 to 65 per cent of capacity. :, "A few crumbs have fallen to the ra - manufacturers. The Erie has placed 12,0' t tons with the Carnegie Steel company an |, 200 tons with the Illinois Steel compan, . The Seaboard Air Line Is expected to b,i II rails soon. reduction of 52 ton Ina been made on boiler tubes and s1 to { on 2-inch line pipe. Wire mills are nc Iholding to the $l 40 basis for fence wir, competition being more active in the mic
 dle west. A 100oton sale of basic iron the St. Louis district has attracted al 2 tention, the delivered price representa- e close to SIS at Chicago district furnace. c
 50 cents less than the last considerabl s basic sale in that district.
 "A 500O0-ton lot also for St. Louis tel | ritory went to a Chicago steel company.
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