The sun., 1915-11-01
PRODUCTION OF IRON
IS RECORD BREAKING
Prices Advance Rapidly as
Sales Indicate Great Buy
ing Movement.


mcnt last week was by far tho most
important and significant feature Of
the steel industry. For several months
enormous contracts for war munitions
iron and steel. but the railroads are
again coming into their own An enor-
nous volume Of traffic has made alb
solutely necessary the purchase of roll
unprecedented extent. The October
buying OF cars. locomotives. track sup
plies and accessory material for the
building c: this equipment calls for the
purchase OF nearly 1,25o,ooo tons OF
steel Ia various forms. Contracts are
still pending for fully $4,000 cars and
about twenty-five locomotives.
The Pennsylvania Railroad is said TO
be preparing 10 purchase 26.000 cars.
5000 OF which viii be ordered in the
next month The Baltimore and Ohio
is also understood to be preparing speci-
tcatons for 5000 to 10000 cars. The
Chesapeake and OHIO has put out an
| inquiry for 1000 coal cars and the
Chicago and Northwestern for 1000
gondola cars and 500 box cars. The
900 gondola cars will he bull, at the
| railroad shops The Pennsylvania Rail-
| road has also ordered 100 all steel ca
| boose cars to be built at tho Altoona
shops. The Cincinnati Hamilton and
Dayton Railroad has purchased 500
/ steel underframee for 500 box cars which
will be built by the Barney Smith
Car Manufacturing Company. Other In
quiries come from the Minneapolis and
St Louis, the Louisville and Nashville
! the Rock Island, the Santc Fe and
Wheeling and Lake Erie.
| The volume OF business for scmi-fn.
ished steel IL confined to relatively small
proportions because Of the difficulty q!
securing ingots, blooms or blilets foi
| rny delivery before naxt month. Trans.
actions for several hundred thousand
| tons. however. were put through last
week for domesti' and foreign shipment
Prices continue to vary widely. but the
! tendency IL toward n higher level foi
| domestic az well as for foreign ship
ment. Additional contracts closed fol
war munitions call for 10000 tons o.
billets. rods and forgings. and addiiona
! iuauiries amounted to 100000 to &oO,'
/ 900 tons.
Orders were placed for three addi
| tional ocean boats. and contracts were
placed for about 10000 tons o: plates
TO cover the construction OF ships q
be Jult ut lake and Atlantic yards
Some heavy contracts for black. gar
| yanixed and blue anneai sheets were
placed for export and Iomee''' snip
ment. with the prospect OF iurthei
advance In prices. Wire products con
t.rued active and strong. but business
was somewha. retarded by the fac
/ tina, capacity of nearly all the larges
interests has been disposed OF through
January and February Of next year,
Tie production OF steel ingots by thu
United States Steel Corporation in Oc
tober, according TO preliminary esti
mates exceeded the daily average rat'
In September. and the total output es'
tab,shed p new high record. Sales
also we're IN excess OF 10000 tons ne'
day. indicating further substantial
increase in untitled orders. The in
dependent steel comps mics also inc.easeC
output. with new business far in cNces'
| OF production.
Sales Of pig iron make II cl"ari!
ev.den. that buying movement q
large proportions has developed viii
prices rising rapidly. The October sale
are the largest reported for "a single
! month since August, 1912. Production
of both steel making and foundry iroi
| is now record breaking.