The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1914-07-03

says:
The steel trade enters the second half
or the year generally looking for a grad
ual increase Ia demand. but Al is rseos-
nized In view OF the large amount Of
slack 70 be taken up that Improvement
months. June buying VAS larger In ~.
first half than ia the second half. with
some companies. Tho Steel Corporation
OF produets bss done bsi,sr ~ az niret ,ssS
in early June.
With its output In June averaging
lsVpv tons a day more than IN MAY the
steel Corporation may be able TO report
practically offset shipments. n Their. H.
any Increase In untitled orders Il will l..
smal. OF late new bookings have run
ahead OF production. having averaged
10000 tons day. They were down -
10000 tons day for most OF May. Oper-
ations to-day are at the rate OF 65 per
cent OF ingot capacity. or blast furnace
capacity IS per cent - active. One Cen
blown In.
June brought nothing that can be call
ed free contract buying in finished ma
terial and Il will come late IL at all this
year. The needs OF manufacturing con-
sumers are fairly well covered for the
third quarter and no marked activity Is
probable In July.
Best OF the Year.
With orders for mo-e tnan $4,000 cars
placed In June. that month proved the
best OF the year. IL will soon BE- known
whether the rate decision Is automatic
ally TO release 10000 or so more. A
spike order for 5000 legs placed BY the
Illinois Central breaks an EN- barge Of
several months In this trade. Spike In
quiries by several roads including the
IL. a O. amount to 10000 kegs a sis
nificant order By the Pennsylvania rail-
road II for the building Of 81 locomo-
tives in It's Altoona shops in the next
six months.
The fact that the rail mill at the Cana
dian 500 recently completed under the
some comment. This Is the first coun-
ter movement to a long series OF Ameri-
can rail sales In Canada
Due TO the high cost OF the new spect-
fication. with It's heavy discard. most OF
the Pennsylvania Railroads rail order
Tor the year will be under the present
specifications. With $4,000 placed. the
contracts Yet TO be made total 100. OGJ
tons.
The Steel Corporations export trade
has improved In recent weeks the Far
Fast leading in the betterment ami
South America following. The order OF
the Siamose State Railways placed here
was for IL 900 tons OF rails.
The AnElo-Pcrsian oil Company has
placed 1900 tons OF l0-in. pipe for "a
new l7o-mile line In Persia with the
Rational Tube Company. a large oh
pipe order for Burmah Is pending The
domestic pipe trade was good in June
the months orders for the largest maker
DtluE % per cent NOR" IMAM IN May. but
May was very lean month.
Running Schedules Improved
Sheet mill running schedules have
been been improved. the recent slump In
prices bringing out business The Amer.
lean Sheet a. Tin Plat Company Is oper-
ating 90 per cent Of capacity this week
after having dropped below 40 per cent
and even then depending In part on ex
ports.
The spectacular decline In bar iron has
come at time when steel bars would
be most affected. While June brought "a
companies at 1.lOc for third quarter and
l.l5c for fourth quarter. the large con-
tracts are yet to be made.
Adjustments Of Central Western sheet
bar contracts for the third quarter are
probable at $50. Pittsburgh or Youngs-
based on pig iron. third quarter deliver
les will be AZ less than $50.
Pig iron sales for June were large nv
comparison with prev ious months. but
prices settled. on southern iron going
TO the low level for the year Tho
week. and in tho Hanging Rock district
others will follow. leaving but one or
two active there by August Southern
iron for the second half has largely sold
AZ Sl0.25 for birmingham for No. 2. hut
$40 has been done FOR the third quarter.
Alabama stocks have increased
Northern foundry iron has weakened.
Rs indicated at Cleveland by the disap-
poarancc Of the nominal delivered price
Of &lf.25 for No. iron. and $3.50 b.
Basic pix iron AT Pittsburgh has becn
more active than market reports ha1 O.
indicated one interest reports sales ~
o. 1000 tons for delivery in third ami
fourth quarter. the bulk ~ % at sra VAL
ley furnace.