The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-19
THE STEEL MARKET.
bookings Increase Perceptibly in
Last Few Days.

Steel bookings have increased percepti-
bly, during the past few days, tho new
business principally representing orders
placed by European nations. Tho Bald
win Locomotive Company is making
fifty locomotives for export. while the
Steel Corporation and several independ-
euts have received fair sized orders for
steel bars. Steel makers are also bid
ding for Russia's rail order which I. Is
estimated will aggregate between so, 600
and 100000 tons. Barb wire manutac-
turers are booked several months ahead.
New York Central is reported 10 be In
the market for $1,000 tons of steel rails.
That recent estimates placing The OPP
erations OF steel mills In the country al
below 40 per cent. are far too low Is the
contention OF the head Of n large indie
pendent firm. He places the average at
80 per cent. and points out that a large
company in the middle West operates at
GO per cent. OF capacity in October.
The Irou Age says:
Pig iron buying has increased. as 20
that there is no doubt. In fnishcd steel
markets the expectation ofshet'er buying
just ahead is stronger. for inquiry has
grown. and in some lines the decline in
orders has stopped. Many manufacture
ing consumers seem to he waiting for the
reductions in labor cost. which it is
widely believed will become effective Jan
uary I. Whether prices meantime will
discount them IS the question close buyers
are trying TO answer.
Prices have been losing ground in
the past ten days and are now--in bars
plates and shapes close % tho level at
which there was FIRE contracting late ia
l9ll AMI early IN 1912. Conditions other
wise are not tAe sane. 1t il true. and
neither buyer nor seller would repeat
he 81 ~ ~ q.
movement;
Some agricultural works when
bought only for this year have been
sounding the bar market for 1918. though
others have contracts running - July.
Current sales are more often a ll0c..
H!;tsburc. than Lie, and in Ohio a
600 ton iuuuiry - known - have
hrouGh. a o5 quotation from two mills.
The same tendency j. seen In plates
ana structural s.ccl Sales of the fornet
At l.o5r., p.,tShurG. are common. with
mills running less tttn one-third Clpac-
i'y. while the low y isis Of some bids OF
structural steel IS AGAIN attracting at
teutiou Tie Bridge Builders and Struc-
'u,al : Getty finds that N October 80 pc:
cent " tho fahricating shops of the coun-
try MS contracted for against SSH per
cent ~ September
"rhe eNpor; movcmer; is still much
below tie ty,..r" ~ tire first six months
Of the year. Tie French contracts 70"
-. incn shrtpNcl rounds went at low
prlces about Is 900 tons being divided
between Two pjt'sburg companies.
Tin plate mills are reaching the e7d
az tho season, and some contracts are
practically negotiated FOR next year. witt
ind.cat .ous that a s3@5 basis Will he es-
tahlshed Sheet prices have sagged,
ployed. Two or three aggressive sellers
,ai "a
black.
"Our London cable tells OF an advanc-
ing market for henstite iron. one Shelf
neld company has bought 10o.ooo ions
Several ship orders have added 20 the
better feeling. The latest British en-
largo Is on TN plate shipments to Den
mark Holland and sweden,
the cast iron pipe trade is ngur'n:
on the largest contract In many months,
- 200 tons of Ia IS inch pipe for ne
,roit. or which bid, will he opened No
vembcr a. Al Boston the Metropoiitan
Water and Sewerage Board Is taking
BIDS on 1000 tons OF Go inch pipe.
"TerromanGnnese il now subject OF
diplomatic negotiation. II is believed ri
Washington that British shipments 10
this country Will he resumed under guar
antee against reeXports tina: might reach
Germany. Higher prices have been
asked here on some spo. lott but users
are not show ing enough anxiety to war
rant them
Pig iron buying ,or the 1rst quarter
and an some cases for the lrst half OF
next year has hroadened In the East
the activity has been greatest.
st. Louis steel foundries hAvs boush.
49, 600 tons Of basic iron. chiefly from
Chicago district steel makers About
10000 tons OF basic il uSder inquiry FOR
ST Louis and central Western foun-
dries "
The IRON Trade ReWsrr saws "nemaud
Tor pig iron shows fair Improvement
Pending inquiries represent many con-
suruers, inCludnG some large ones, and
thu volume 90 orders entered has in
creased There has been some Increase
in plant activity, but there are no den
mite assurances that the finishing mill.
. Will he kept busy, for orders in sight for
finished materials are not OF largo pro-
portions Orders continue TO be placed
for delivery OF various kinds OF equip
ment TO foreign nations The French
Government has awarded the Bethlehem
Steel Company an order for goo field
guns at $4,000 each, 70 he delivered
during Tho next Nelr and a half CON
siderable tonnage of bars for mduufaC-
TUE of Shrdpuel has been sold