The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-22
THE STEEL MARKET.
Domestic Demand Quiet--wsr Or
der Reports Continue.

There was no change In steel con-
dltions reported yesterday. Domestic
demand Ia generally quiet and there
Is no Increase In the volume OF incoming
business. Large war orders continue to
be- reported. but. with the exception Of
one or two concerns these have not
improved conditions materially. Produce
ton Is being maintained at tho rate OF
20 per cent. of capacity. which IL above
Incoming orders, and portends another
falling on In untitled tonnage
The Iron A Je says '"rhe pennsyl-
vania Railroads. announcement that 1t
is about to buy or build $500 cars and
1914 locomotives and the tentative plac-
ing In this country OF further large sec
lions Of the Canadian Car and Foundry
Company's ssOO0O.o0O shrapucl con-
tract have been the main contributions
of the week TO the news of better busi-
ness There Is also the expectation
that the Pennsylvania rail order will
soon be distributed. adding 10000 tons
or more to tho 10000 tons already
placed
There are signs that other railroads
are getting more alivo to the low prices
car and locomotive companies would
make just now and the steel trade looks
for further developments in this dircc-
ton. How far the large war contracts
ing on might affect deliveries Of new
cars that may be want ed by fan IL .
factor not entirely overlooked.
'Of tho 10000. goo Canadian con-
tract for Russia II 10 now known that
over 100000 has been sublet in
this country and that $50, oo0.o 900 more
Ia nearly closed. Much less clear IL
the status Of other pending business, In
volving many millions. presumably for
Great Britain.
Actual exports OF iron and steel grow
slowly. February showing a total of
$4,000 tons for products reported by
weight. against 10000 tons In Janu-
airy. The rate OF orders lately should
give q 100000 ton month soon. II Is
noticed this month that foreign Inquiries
are from n variety Of new sources in
lied are often higher than on home
business
ocean transport 4. a serious factor
In business with Europe. Sweden wants
American pig iron. but SO shillings is
asked for vessel room. Inquiries for
thousands of tons OF pig iron have CONS
up. including 1000 tons for italian
Government works and largo amounts uf
hemstite for England, but little Is put
through. radiator company has
bought 5000 ton. Of malleablc pig iron
Hull England
The Lake Superior iron ore marke.
has been opened Cor 1915 by sale. OF
Mesaba non-besseTe" and OF old range
be.scrner ores "a the past few days. the
total thu. far being less than 1000, 600
tons. Prices. \ expected. are the same
Us in l9i4--a basis OF s375 at lower lake
port for old range besscmer $3.50 for
Nesaba bcssemcr SO for old range non
beSsemer and sas5 for Mesabl non
hessemer Ness.l rates are also the same
as last years
The volume o. new buying in finished
lines continues 20 be less than IN March.
Shipments by some steel companies are
less. also; by others substantially the
same. Tho handling OF the price sltua-
ton IN bars, shapes and plates has been
apparently more effective from the pro-
ducer's standpoint than at other times
when demand was not elUa! 10 capa lily.
In bars particularly the lcOc. Pitts
burg price has been established and In
the past week several producers have
famed Fac. - their price for third
quarter shipments This applies also 20
plates and structural shapes.
The foreign RAJ trade has shown n
good deal Of life. hut british rail mills
have had no hand In H. the Government
having well nigh monopoli2ed their out
mt