The Birmingham age-herald., 1914-05-14
MORE HOPEFUL
 FEELING EVIDENT
Anticipation of Better
 Things Factor in Steel
EXPECTLARGE ORDERS
Rail Orders for Past Week Amount to About 10000 TAns-In Wire Industry Specifications
 Are Improving

New York, May 13-tspecial.)-rhe Iron Age will say tomorrow:
 Anticipation of better things is now factor in the steel market Tn finished lines it has caused more hopeful feel ing through little expansion in buying as yet. and in pig iron it is responsible for more inquiries and for some increase in actual business. There is no improve ment in prices, rather they are lower both for pig iron and finished steel
 The fact that the end of good many contracts was but a few weeks off has been of late the basis of predictions of a new buying movement that has not appeared. Now the imminence of the rate decision is added to the argument of depleted stocks. In the pig iron market the measurable increase in activity has been. as under similar conditions before, at the expense of prices.
 Tn the Chicago district steel making pig iron has been accommodating and rather than blow out a number of fur naces some makers have sold consider able basic iron at concessions. In north ern Ohio 15.Ooo tons of basic iron was sold largely Dy 3IeNeldEu 1uIndceS at less than S13 valley furnace equivalent.
 Foundry operations are in many sec tions on 50 to 60 per cent basis and there has been a further slight curtail- ment in blast furnaces.
 "Steel works are running at practically the same rate of ingot production as in the past two weeks, indicating that the basis reached is mainly that of upkeep throughout the country
 Cleveland, O., May 13.-(Special)- )-The Iron Trade Review tomorrow will say:
 Bright spots continue to appear and although they sometimes fade out rather quickly. they furnish some reason for the iron trade looking forward to better conditions.
 Present conditions are not as bad as they are commonly supposed to be, as shown by reliable statistics. For exam pie, the reports collected by the Bridge Builders and Structural society and sub mitted to members at the meeting held in Pittsburg last week, indicate that dur ing the month of April SS per cent of the entire capacity of the bridge and structural shops of the country was con tracted for
 "The American Bridge company dur ing April booked orders amounting to eO per cent of it's capacity Statistics of stock of furnace yards are also favorable During the second half of April there was a decrease in both northern and southern stacks.
 Generally speaking changes in the iron and steel markets are slight but are nearly all In the right direction The placing of an order for 15.oOo tons of basic by the United Steel company, Canton following the ordering of the tonnage by St. Louis company and increa sing in- quiries for basic in the Pittsburg and eastern districts, are giving a somewhat more cheerful appearance to the pig iron market. In addition to the tonnages known to be pending, there is good deal of quiet negotiation in the eastern district and the placing of some large tonnages at an early date is probable The negotiations include a round tonnage of basic.
 Delaware river cas; iron pipe manu- facturers are sounding the market Rail- road buying continues to be disappoint- ing but the statement by a New York banking firm that Missouri Pacific would require from $600O0,00O to s70.00O000 to put it in good condition furnishes hint Of the buying that may be expected in due time
 Rail orders for the past week amount to about 10000 tons.
 Tn the wire industry specifications are improving and manufacturers are hope ful that present prices can be maintained The cutting in sheet prices continues freely and mills in the Youngstown dis trict disregard the Pittsburg base in the eastern territory. Some low prices are being made on plates and shapes but the steel bar market shows less irregularity than that of the heavier products
 The Lake Superior iron market drags Tn much the same fashion as it did when prices for 1912 delivery were an nOunced in March of that vear Tha financial considerations are perhaps the most Important factor fin the situation as ore buyers do not wish to incur further liabilities when they are well supplied with ore. Unless business improves ore shipments will be sharply curtailed but ore sellers are hoping for something like repetition of the active buying of 1912. when came during the summer of that year"