The Birmingham age-herald., 1914-06-18
IMPROVEMENT IS
 COMING SLOWLY
Industrial Outlook on the
 Whole Encouraging
RAILS FOR N. s. WALES
Sales of Southern Pipe Iron for Two Weeks Now Above 125, 5,000-Chi-
 cago Reports Broader Market for Foundry Iron

1 Cleveland, June 17-{special.) )-The Iron Trade Review tomorrow will say: 1 Improvement in finished material
 lines is coming slowly. but large com
 panies report that June is making bet
 ter record than was made during the
 first two weeks in May and on the
 whole the outlook Is encouraging.
 The United States Steel corporation lis operating at 65 per cent of its ca-
 pacity and its orders are slightly more
 than 5000 tons daily in excess of those | in May.
 "The car and rail business develops very slowly. The Pennsylvania railroad has awarded the Cambria Steel com pany 5000 tons, making its total for the season 25.OoO tons. The St. Paul has released 15,0OO tons on an old order l to the Illinois Steel company, and is | closing for 15,OO0 tons additional "The act of the Canadian Parliament l in guaranteeing the $16,000,000 loan of the Grand Trunk Pacific is expected to result in liberal orders for cars from that railroad at an early date. The Lorain Steel company has received an Oruer TOT DUUU lOIlS ol EiIutT ldilS IT the New South Wales government. Sta tistics compiled by the bridge builders and structural society showing that during May only 57 per cent of the capacity of the bridge and structural shops of the country was contracted for in May as compared with SS per cent in April, Indicate the pronounced dull ness in building operations requiring large tonnages of structural steel The it,c in ba of concrete is important factor in the comparatively small tonnage of steel now being used in new building.
 "Cincinnati, which has been one of the dull spots in the country, reports some Improvement in pig iron and a more cheerful feeling prevails In some other centers particularly in Philadel- phia and Birmingham. The recent buy ing in Chicago has subsided to a large extent after having developed some lower prices than had previously pre- vailed There has been some shading of iron at Ironton, where sales were made on the basis of SIS to s13.25 for No. 2, but it is believed that there Is now none of this low priced iron obtaina- ble.
 .The offer of the Tata Iron and Steel company for 20, 900 tons of Indian iron is at price $1.50 above the quota ton for the domestic product and there Is no prospect of business resulting un- less the India company reduces Its prices. The first transaction of any inn portance in the buying of Lake Superior ore this year by an eastern company is the closing for block of this ore by the Alan Wood, Iron and Steel com pany. The movement of ore on the great lakes is still very sluggish. The sales are not numerous and the yes sel tonnage operating is in excess of requirements
 "The contracts for the sO,0oo tons of cast iron segments for East river tubes have not yet been placed but probably will be in a few days It is expected that this tonnage will be divided among a number of companies. Very few orders for cast iron pipe are be- ing placed at the present time by mu- nicipalities.
 corporations of the tin plate mills con- tinue very active and there has been some increase in capacity in operation during the past week. There is. how ever, still some shading of prices below S3.30 per box, Pittsburg. The reduction of sheets has been slightly increased in the Pittsburg district"
 New York, June 17.-(Special)- )-The Iron Age will say tomorrow: Reports differ on the extent of the improvement in the steel trade noticed two weeks ago.
 '.The general conditions of restraint in buying continues but the combination of lower prices and the natural mid-year buying has caused great activity. It is questioned if the June movement will equal that of January. though it is ex- pected to be enough to make the past shipments and new business break even.
 .sAt Chicago, where the excellent crop outlook is influential, bargain prices are credited with bringing out somewhat larger orders in steel, but it is added that the general coupon business is still operating.
 June has brought the lowest prices of the year in practically all finished products. Bar buying by implement com panies is more noteworthy. By contract with recent sales which have been made at $1.15 Pittsburg for the entire second half, but $1 .121a has also been done. One dollar and 10 cents is the price for early delivery The St. Paul has released 10000 to 100000 tons of rail at a Chicago dis trict mill and is believed to have dis tributed new orders amounting to 10000 tons
 'The Steel corporation has taken con tract for 5000 tons of girder rails for New South Wales. April reports of iron and steel just completed show more plain- ly the effect of low duties. The increase over March being 5000 or 20 per cent.
 ''In the 10 months ending with April rail imports were 1000 tons. or three times as much as in the corresponding period of the preceding year. Further sales of southern pipe iron have been made and the total for two weeks is now put above 125,000 tons. Sales of southern foundry grades are more commonly at $10. p Bir- mingham for No. 2. Chicago reports broader market for foundry iron.
 "At Pittsburg one inquiry is for 15,0OO to 25,0O0 tons of foundry grades"