The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-12
THE STEEL MARKET.
PerceptibIy BETTER Feeling Z. Trade
Circles.

Improvement in the pig iron market,
coupled with increasing inquiries for vari-
Gus lines of steel, has led TO q peccptIoly
better feeling IN steel trade circles. some
Of the manufacturers say that orders
booked within tho last week arc In greater
number, but for the most part they cal,
for small tonnages.
The Iron ne will say tomorrow: The
better sentiment in the steel trade which
was evident one week ago Ia more gen
orally recognized. but 1t has not yet
affected buying. The decline In orders
shown by the Steel Corporations state
ment as of October 81 has not been
checked but the nearness of 1915 and
the small provision made for the needs OF
manufacturing consumers beyond Deem
her bolster hopes of a turn near at hand.
This week the situation in tho Chicago
district stands out, with the nearly COM
plete closing down of the Gary works.
Other mills in that district are running
single turn and only part time.
The announcement that Great Britain
had forbidden ferromanganese exports to
this country comes this week with appar-
ent authority Last week such action was
both affirmed and denied. Our London
cable says that concessions may be made
II proper guarantees are given against
reexports from the United States. The
small resales reported here, though to
neutral countries, have been made much
OF In Great Britain, as II was charged
some OF the metal was going into Ger
many.
Prices OF finished steel products have
naturally settled. hut until larger business
appears the low levels OF late 1911 are
not to be expected. Plates have sold as
low as los cents Pittsburg, and de-
livered price of les cents on plates and
shapes at Milwaukee and Chicago has
been common. Bars have shown less
weakness. but 10 cents Pittsburg has
been done on a particularly good order.
A round lot OF reinforcing bars in eastern
territory started some cutting.
"The Boston Store addition at Chicago.
1000 tons. is the largest structural or
der At Cleveland bids were taken on
900 tons for new coke and ore bins,
and various railroad lettings in the East
and central West amount TO 1000 tons.
"A large car movement in the West,
due to increased grain exports. has re-
vlved expectations of car orders, and the
necessities of the Hartman and the Rock
Island lines are put at total of 10000
tons Chicago reports a 1900 ton in
uury for tie plates and in spikes and
bolts several large lots are to he bought.
Rail output is just now at the lowest
rate in years.
Foreign orders for various products
for war purposes are smaller, though a
tons of steel. much of II bars for shrap-
mel, is yet to be placed"
The Iron Trade Rcriep says: In
crea sed interest of buyers in the pig iron
market has caused a much more cheer
full feeling in some sections OF the coun-
try. This change Is attributed largely TO
the belief that the attitude OF the Gov
eminent toward business will be less
radical during the next two years. A
fair amount OF foreign business in nm
ished materials is being received.
"a Cleveland manufacturer will make
o5. 900 steel barrels for export. About
one-third of the product of the wire mills
of this country is being exported and
some additional orders for machine tools
have been placed during the last week
for export but the rush in the foreign
department for machinery has abated.
Some further important business for ex-
port is expected to develop soon"