The Birmingham age-herald., 1915-11-25
HEAVY BUYING IN
 FINISHED STEEL Rapid Price Advance Fails
 to Check Sales RECORD ORE PRICES No. 2 Southern Iron Quoted at $13,50 F. o. B. Birmingham-Stee Mills Figuring on Material for
 Two New Battleships
RECORD ORE PRICES

Cleveland November 24--(Special) say:
 Advances in prices of finished steel have been coming rapidly, but they have. had little effect in checking buy ing. At the same time the scarcity of biliets and other forms of semi fin ished material has become more seri- ous and large consumers of steel are already predicting that they will be compelled to close their plants at least temporarily, if present conditions con- tinue
 An eastern car builder fears enforced idleness of his plants in the second quarter of next year, and an eastern shipyard has already been delayed on some work by slow delivery of plates from eastern mills. Many mills are actually fighting off business and are having trouble in keeping up with their contract requirements. Ore shippers are bringing the season of 1915 rapidly to close, although heavy weather and low water have caused some delays during the past week. Some of the shippers are, loading their last car goes this week and the tonnage to be moved in December will be small.
 ORE SCARCITY
 cargo of ore was covered a few days ago at S1.40 net, s1 above the regular rate. This is the highest rate that has been paid on the lakes since 1899. An offer of $1.50 per ton to sev eral vessel owners was not accepted. as hauling grain at recent high rates was more profitable. A number of blast furnaces. including both Tonawanda stacks and the stack of the New York State Steel company, will remain idle until after the opening of navigation next year on account of not having ore It is understood that other stacks whose owners are anxious to blow them ill have been unable to contract for ore. There is little talk of ore prices. but some reservations have been made.
 Steel making pig iron have been in the lead of the buying of the past week. number' of round tonnages of basic and smaller tonnages of Bes- semer figured in the market at Pitts burg. while in the Philadelphia mar ket about 10000 tons of basic have been purchased. Price tendency is de- cidedly upward. The Virginia Iron. Coal and Coke company has advanced it's schedule 75 cents for this year and oV CeHtS lOF lHe iTSt dllu SecOuu qudl- ters of next year. At Buffalo the pig iron market is very strong, and there Is very little iron to. be had The blow ing out of several stacks for refining will make the production more limited. A soil pipe maker has purchased 10000 tons of foundry grades for delivery at New York, New Jersey and Maryland plants.
 SOUTHERN IRON
 The resale of southern iron. which was being disposed of at about s13, Birmin ghan, for No. 2 has disappeared and S13.50 is now the minimum quota ton. The demand for shapes and plates is very strong. Tn some cases $2.10 and s215 Pittsburg, are being obtained for prompt delivery on plates.
 Contracts include 200 portable bridges for the British government, calling for about 5000 tons of shapes. Two battle- ships which Secretary Daniels hopes to build In government yards will re- quire 31, ,000 tons of steel in addition to the armor plate. Bids will soon be re- ceived, but it is very doubtful whether delivery will be satisfactory to the navy department. Advances in prices of finished materials include nuts and bolts. 10 per cent; rivets, s4; spikes. S3; shafting, from $3 to $5; track bolts, $S, and cut nails, S3. Heavy melting steel is considerably higher. Ware house prices on shapes and plates have Pittsburg, and warehouses throughout the country are doing an extremely heavy business.