The Birmingham age-herald., 1914-03-26
STRUCTURAL WORK IS FAIRLY ACTIVE Weakness More Pronounced in Plates
 
IRON PIPE IS HIGHER
Pig Iron Quotations Being Adhered To by Northern Makers-Rail Business Continues Lifeless.
 Bessemer Iron Weaker

Cleveland, March 25.-(Special.) )--rhe Iron Trade Review will say tomorrow:
 With only few days of the first quar-
 ter remaining, interest centers in the question as to what prices will prevail during the second quarter. Present indi-
 cations are that on finished materials,
 mills will have difficulty in obtaining 12Oc Pittsburg on shapes. plates and bars, and it seems certain that contracts writ
 ten at higher prices will have to be re- vised On the leading finished products particularly plates and shapes. in eastern
 territory, the 1.15c price Pittsburg is be- ing more openly made.
 Baltimore company bought 450 tons of shapes and plates at an average price cor
 siderably below .20c Pittsburg. On bars the L. 2Oc price is more successfully main tained than on plates and shapes, Lut the bar business is not in a satisfactory condition. The failure of agricultural implement manufacturers to place orders is an important factor in the present .it- uation These manufacturers state tbat they find that throughout the west 8 policy of economy prevails among the farmers so far as the purchase of agri- cultural implements is concerned. It is believed that many farmers are using their old implements and are buying au- tomobies.
 On the whole. the outlook in the finished material market is not favorable, but hope Is still entertained that with the coming of warm weather activities will be quick ened in various lines and the demand for iron and steel products improved.
 No action has yet been taken in regard to prices of Lake Superior iron ere, LtIf of 50 cents per ton below the prices for last year. It is expected that the opening of the season of navigation will be l; te this year.
 The action of the New York Central lines in deciding not to buy the 3650 freight cars for which it has been inquiring, all though it is understood that low prices were made by car builders, shows the extreme conservatism of the railroads at the present time. Some car inquiries of fai rsize are pending, including 2000 steel box cars for the Chicago and Northwestern and 1900 refrigerator cars for the Great Northern. Only one order of size, that for 800 refrigerator cars for the Illinois Central was reported during the past week. Rail business continues lifeless.
 Pig iron quotations are being adhered to by the northern makers in spite of the continued absence of demand, but in the south weakness has developed, and it is understood that one southern furnace will sell at s1050, Birmingham basis, for No. g. for delivery over the next two months while $lO.75 is openly quoted The leading cast iron pipe manufacturer has advanced its price 50 cents per ton in the Chicago market, bringing quotations in that city in line with prices with other centers. Of the 10,5o0 tons of cast iron pipe awarded by the city of Rochester, S70O tons went to the United States Cast Iron Pipe and Foundry company and 1455 tons to E. D. Wood X Co. Cleveland will receive bids April on about 5000 tons.
 New York, March 25-(Special )-The Iron Age will say tomorrow: In a good many lines buyers of iron and steel prod ucts are marking time, an dit is evil dent that the total of new bookings in March will fall far below that of Feb ruary.
 While there has been little change in the rate of production at rolling mils some restriction of operations is expected soon less new demand increases ma terially.
 Prices for the second quarter in bars plates and structural shapes, as 1t is now apparent, will not be higher than have been realized in the first quarter. Weak ness has developed in a number of direc- tions and is most pronounced in plates.
 Structural work is fairly satisfactory as to volume, but not as to prices. The scra mble for the 35, GOO tons of work let last week showed many hungry shops and the l.l5c basis for plain material was broken through more than once. Car builders are fast cleaning up their or ders and their bids on recent contracts show the closest approach to cost in many months. Yet such prices did not prevent the New York Central decision to do nothing now about the $500 cars 1t has been so close to buying.
 Bars have not yielded to the same ex- tent as plates and shapes in recent com petition, but implement works are speci- lying poorly on their contracts. The eff fort of pig iron makers to establish high CT prices is general. Little can be said as to it's success. since consumers have been carefully letting the market alone It is the evident hope of makers that some of the recent advances will hold when buying really sets in again. Bes- semer iron is weaker. A sale of 15OO tons has established a S14 price at valley fur mace, a decline of 25 cents.