The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-14
THE STEEL MARKET.
Prediction of Mig Increase Soon In
Mil Production.

A Sharon despatch YESTERDAY quoted an
official of the United States Steel Corpora
ton as predicting that within the next
three weeks tho mills OF the corporation
at Farrell, Pa. will he running at rs per
cent OF capacity. At present the mills
| are running at about 30 per cent. and II
this prediction comes true II will mean
notable recovery from the prOtractcd
depression.
Producers look for continued improve
ment in the volume OF incoming orders.
The railroads have not yet begun TO buy
steel In anything Ike the volume OF
former years, but there Is hope that they
may find II no longer necessary to pursue
their conservative policy II the Interstate
Commerce Commission renders n favor
able decision In tho advance freight rate
case.
The London correspondent OF the iron
Age says: The pig iron situation is UNI
altered. with very little doing Furnaces
in blast. 1865. against 1856 last year. Pig
Iron stocks are iO4.i67 tons last week,
1O4,99l tons. Homdtite iron is easy. Fer
romanganese exports are now prohibited
entirely though possibly concessions may
he made lf satisfactory guarantees are
forthcoming against resale for shipment
to Europe.
Meantime exports Of manganese ore
from India continue forbidden except to
Great Britain and France. Semi-fnished
steel Is very quiet and featureless. Fin
ished steel Is moderately steady. hut not
much is doing except IN connection with
national purposes. Better inquiries have
come out FOR tin plates and the market -
shade s:eadicr Austria and British
Columbia are inqulring. American mills
have taken $4,000 boxes OF quarters for
Japan. shipments I'm December and jan
uary. at less than 1875 (S316) Z. o. b.
The Datly IRON Trade says:
Pig iron market tone shows slightly
more Improvement. with fair sized tonnage
Involved In sales and Inquiries at Pitts
burg. Philadelphia and New York. but the
Si2 Buffalo price dominates the situation.
Central Western ferro-mangauese dealers
await further British embargo news and
market tends upward. Structural steel
lettings In East continue TO give encour-
agement and Connellsville coke trade is
believed to be in sound position"
The London Iron and coal Trades Re
tfcc and the IronmOuJer reprint the
following from n German trade paper:
THE application To the German Govern
ment to give the iron and steel industries
more employment by the starting OF all
kinds OF public works has had some re-
suit Authorities have been recommended
to continue all new construction in hand
and to start the execution OF new work.
The iron trade will profit by the require
meuts OF the engineering workshops ~
the railroads FOR building materials and
tools, locomotives. ears, &c. There II
also a slight Improvement In private in
quiries. The September orders for pig
iron. az well rs for some qualities OF I'm
ished products. were better. hut business
In semi finished steel remains very quiet.
Consumers who used TO purchase British
pig iron have now been compelled TO buy
from German works. The disappearance
Of British customers Is. however, greatly
felt hv tho manufacturers, and in addition
inland consumers have been reserved,
which IL partly attributed to the increase
IN prices Steel bar makers are some
what better Off, as they have prohted by
the higher prices ruling In the south Ger
man markets and have received some
orders from that district Wire was for
a time In strong demand for army pur-
| poses. but the business Is now quieter and
the dissolution Of the Association of Wire
Manufacturers has not improved the posi-
| ton. The market for tubes has become
even weaker. the conditions before the
war being anything but satisfactory The
demand is limited to military require
ments; for private consumers II is so
poor that the most severe competition has
resulted.