The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-09-16
III STEEL MARKET.

Rising prices were the order Of the
day yesterday in the steel trade. Pig
iron prices have risen steadily with
made at SIS a ton. one Of the most i'm
portant features is the large amount OF
steel buying for delivery during the
first three months Of 1916. There was
also some buying for second quarter.
Estimates were made during the day
that the mills of the country are now
producing at the rate OF 80, 600 900 tons
OF steel annually. This Is a new high
record.
FQu pment orders continued to come
IN substantial quantities, Good orders
have been placed for locomotives with
both ne American and Baldwin com
pInieS, while the car companies are also
in receipt Of good business.
The Iron Age will say to-day: with
steel-making capacity 40 largely taken
up for 1915 the trade is daily making
calculations for the early months Of
1915. There is more evidence that the
han1 Of the railroads is being forced
by the size of the foreign inquiry for
steel TO be shipped after January 1.
1t looks now as though the railroads
will all at once want a good many cars
/ wv iOtOlilfNlNtS diu NNtN NhtN WI navy
to take their turn after buyers who
have been more forehande1.
Locomotive orders and Inquiries have
been larger in the past week than in
months. Some car requirements are
shaping w In the case OF the New
York Central both rails and cars are up
and rails for fall and winter delivery
are expected to he placed at Buffalo.
The Seaboard Air Line has ordered
1000 tons OF rail and the Glover Leaf
5000 tons. Generally western roads
have not begun to negotiate for next
years rails.
I'm war billets, blooms and large
rounds. active inquiry now before the
steel companies for the first quarter OF
1916 covers about 200 900 tons. A re-
cent sale Of billets Of 0.A5 to 0.55 per
cent. carbon for shell forgings was at
sac at Ohio mill. For work already
under contract "A few sales of plates,
shapes and bars have been made for the
first half of 1916 at l.40c.. P~ittsburg.
For this year l.35c. is the market on
shapes and bars. though on the latter
deliveries this year are more difficult,
while plates are still to be had at .3Oc.,
Pittsburg. In contrast with what was
the rule for many months. Eastern plate
mills are getting a higher Pittsburg
price than those OF the central West.
I'm plate mills ma some IdillnR OH
In demand. the packers season thus far
having been under expectations. Some
mills now have but two or three weeks
oredrs ahead and there has been "A slow
ing down Of operations in western Penn
sylvania.
The report that fabricating orders in
August reached 50 per cent. OF the
country's capacity was a surprise. For
the past six Month the average has
been 73 per cent. while in the last big
year. 1912, II was probably not over 20
per cent. Chiefly interesting In new
work is -. 900 tons OF elevated road for
Philadelphia. Al Youngstown $500 tons
OF new steel work construction has been
awarded and altogether steel work ad-
ditions are n larger factor in the struc-
tural trade than in months.
An advance OF 81 to SO in light rails
brings % to IS pound rails To a parity
with andar sections at SIS q ton. Bar
iron is also higher. Chicago mills having
little to sell at l.25c.. while Eastern mills
are now asking l.35c.. Pittsburg.
THE scarcity OF wire rods is more
marked even at $40. Pittsburg. and the
wire situation is still largely dominated
by export operations