The Birmingham age-herald., 1914-07-09
DECISION MEANS
 MORE COMPETITION
Industrial Journals Con-
 ment On Reduced Rates
PENSION BOARD MEETS
Indications of Improvement In Steel Trade Noticeably Increasing-De- mands for Structural Material
 Keeping Up Extra We'll

Cleveland, O.. July S.-(special )-The Iron Trade Review tomorrow will say
 ''The decision of the interstate com merce commission in regard to rates on pig iron from the Birmingham district to numerous western points may have more far-reaching effects than appear probable But at present 1t seems that the principal result will be considerably more competition in New England for the Buffalo and Virginia furnaces and more for some furnaces in the Chicago district which make high phosphorus pig iron similar to that produced in the south.
 ''The sharp decline fin the production of pig iron in June as compared with May, the figures being 1,9o4566 tons and 2097,019 tons respectively, shows how quickly mblast furnaces operators are conforming to the decreased demand for their product but sellers who have made a careful study of the situation point out that two years ago conditions in the pig iron market were more unfavorable than they are at present.
 At that time, stocks on hand in fur nace yards amounted to 100000 tons com pared with about 100000 tons today and production was at a considerably higher rate. The last half of the year 1912 was one of great prosperity and some fur mace men report that they see indica- tions of a good buying movement in pig iron, which they believe will be we'll un- der way by September 1. During the past week there has been increased activity in the Pittsburg market and two large lots, one of 10000 tons and another of 1000 tons have been sold.
 'Tonnages of good size are pending in the east, but sales Are not numerous The General Electric has purchased ten thousand tons of foundry iron and in- quiries are pending for about fifty thousand tons of iron for export
 The most serious competition that has yet developed under the new tariff is that in sheets imported from Ger many. On a recent order for No. n gage blue annealed sheets for Montreal derbid by German makers who quoted S4 per ton below the lowest price re- gently quoted in the American market Tin plate mills are operating at a rate which insures a good tonnage record but prices are weak.
 Two leading eastern agricultural i'm plement makers have contracted for from fifteen to twenty thousand tons of steel bars, but many of the agri- cultural implement manufacturers have not yet covered. Mills are firmly re- ssting efforts of buyers to contract at less than $1.15 Pittsburg which is the prevailing price up to January l, while $1.20 is the usual quotation for de- livery after that date."
 l New York, July S.-(Special )-The Iror Age tomorrow will say
 ff1ndica uion of improvement in stee | trade are notably increasing. The cornei 1 seems to have been turned at last, anS | manufacturers are now confident that the l remainder of the year will show much l larger bushes sthan the first half.
 "rhe United States Steel corporation re 1 ports it's bookings of new orders in June larger than for any previous month thi: year. It would not be surprising If an in crease should be shown in statement oi thrilled orders which will come out in ( | day or two A most significant fact 1T this connection Is that not only the mill. | of the United States Steel corporation ! but also those of numerous independen | steel manufacturers have shortened theil mid-yea shut-downs for inventories anC | repairs. It had been expected that tn, great majority would be closed for a least two weeks and some for longer time
 Instead of doing this practically all hay, started again this week.
 Tt is believed that nearly all the larg, agricultural implement manufacturer! ! have placed contracts for steel bars for a 1 least the coming six months. The lead | ing implement interest Is stated to hay, not yet bought Not only is demand fol | finished steel products better, but indica | tions are seen of strengthening in price Probably wire products may be the frs
 to be advanced as demand has increased decidedly within the past few days.