The star-independent. [volume] (Harrisburg, Pa.) 1904-1917, 1914-11-20
PIC IRON MARKET NOW IS !
BETTER THAN PREVIOUSLY
Authorities at Washington Believed
That British Shipment of Ferro-
manganese to This Country Will
Be Resumed

New York, Nov. 20.-"The Iron
Age says: pig iron buying has IN
creased, as to that there is no doubt.
In finished steel markets the expeeta-
tion of better buying just ahead is
stronger, for inquiry has grown, and
in some lines the decline in orders has
stopped. Many manufacturing con-
sumers seem 10 be waiting for the re-
ductions in labor costs which it is
widely believed win become effective
January l. Whether prices meantime
will discount Them is the question close
buyers are trying 10 answer.
Prices have been losing ground in
the past ten days and are now, in
bars, plates and shapes, close to the
level at which there was free con-
tracing late in 1911 and early in
1912. Conditions otherwise, are not
the same. it is true. and neither buy
er nor seller would repeat the free
commitments of that memorable move
ment.
Some agricultural works which
bought only for this year have been
sounding the bar market for 1913,
though others have contracts running
TO July. Current sales are more often
at 1.10c., Pittsburgh, than 1.15e., and
in Ohio a 2,500-ton inquiry is known
to have brought lose. quotation
from two mills.
The same tendency is seen IN plates
and structural steel. Sales of the form
er at 1.05e.. Pittsburgh, are common,
with mills running less than one-third
capacity, while the low basis of some
bids on structural steel is again at
ers' and Structural Society finds that
in October 50 per cent. of the fab
ricating shops of the country was con-
traeted for, against 3S 12 per cent.
in September.
The export movement is still much
below the average of the first six
months of the year. The French con
tracts for 1-2-in. shrapnel rounds
went at low prices, about $4,000 tons
being divided between two Pittsburgh
companies.
Reported Russian and Norwegian
inquiries for rails and the figuring of
Russian and French commissioners now
IN New York on various lots of freight
ears are still without tangible results.
The inquiry of the New York Cen
trail for $4,000 tons. of rails is likely
to result in winter rolling for one mill,
at least. Otherwise the rail makers
have little to relieve the prospect of
very lean winter. The Pennsylvania
Steel Company has booked a 3,500-ton
order and the Ensley mill mas week s
double turn operation ahead. Rails
were part OF the cargo of the first
steamer of the new Mobile.San Fran
cisco line which sailed from Mobile
last week.
Tin plate mills are reaching the end
of the season and some contracts are
practically negotiated for next year,
with indications that sS.25 basis
will be established. Sheet prices have
sagged, with only 40 per cent. of ca
paeity employed. Two or three aggreS-
sive sellers have taken business at
1,S5e.- for No. IS, black
Our London cable stelS of an adj
vancing market for hematite iron. One
Sheffield company has bought 100000
tons. Several ship orders have added
to the better feeling. The latest Brit.
iSh embargo is ON tin plate shipments
to Denmark, Holland and Sweden.
The cast iron pipe trade is figuring
on the latest contract in many months
-25 goo tons of to 4S-ineh pipe for
Detroit, which bids will De opened No.
vember p. At Boston the Metropolitan
Water and Sewerage Board is taking
bids on 1000 tons of 60-inch pipe.
Ferromanganese is now a subject
OF diplomatic negotiations. 1t is be.
lived al Washington that British ship
mentS to this country will be resumed
under guarantee against re-export that
might reach Geramny Higher prices
nave been asked here on some spot
lots. but users are not showing enough
anxiety to warrant them.
Pig iron buying for the first quar-,
ter and in some eases the first half
of next year has broadened. In the
East the activity mas been greatest
Several large lots were quietly closed
S12, Buffalo. being readily done on
contracts running TO July. Smaller
foundrieS have bought also.
ST. Louis steel foundries have
bought $4,000 tons of basic iron,
chiefly from Chicago district steel
makers. About 10000 tons of basic
IS under inquiry for St. Louis and Cen.
tral Western fOundies.
Improvement in noH-ferrous metals
is feature of the week. Copper,
spelter and lead have advanced under
increased demand, and all metal mar
kets snow activity after months of