New Britain herald., 1915-11-26
STEEL PRICES STILL
 CONTINUE ADVANCE
PR. R. Cancels Contract for Cars
 as Demurrer
New York, ]

New York, Nov. 26.-The Iron Age says:
 The steel trade is rushing on at speed which may easily carry it past any danger signal. The rapid ad- vance of prices is viewed with concern in some quarters but the protests are rather of helplessness in the face of such a situation.
 The Pennsylvania railroads an- nouncemert of the withdrawal of it's inquiry for 11,00O cars, on which the bids showed a startling advance in prices-nearly 100 per cent. in some cases over the lowest ca~ bids of the vear-is the first strong demurrer in the home market The complaints steel producers have been hearing thus far nave rather come from manufact- 1ring consumers who could not fill their orders for lack of steel or who could not get no place on the books of the m,lls for steel sure to be needed in the second quarter of next year.
 Allies Used Steel.
 Following the recent statement that France would limit further steel buy ing in this country because of high prices a London cable announces that the Allies have reached such a rate in
 
 orders need not be placed here. It is true that there is now no new shell business in the hands of the Allies agents here but it is known that op- tions were taken on quantities beyond those named in existing contracts. Fur ther, whatever the increased munitions capacity, of the Allies, they have found no way of increasing their output of ic, 1r fnn 1at buyer here for a French steel com tons of large rounds will continue to be a buyer in this country for another twelve-1nonth.
 So far as reminders that the war demand will not go on indefinitely an- tidote some of the dangers in the present steel situation, they are not unwelcome There has been no lit tie uneasiness over the prospect that home consumption would suffer while mills were busy with attractive war contracts.
 Old Material Market.
 Old material markets at Chicago and Pittsburg have been active and excited in the past week due to the scramble of steel works for scrap, after having forced up pig-iron prices by their purchases in that market. Heavy melting steel scrap has ad- vanced $2.5O in the past two weeks at Chicago due to large buying for Gary and the fear of a scrap short age in that district. At Pittsburg m citing steel scrap has advanced soc to S1 a ton and shipments are being made from eastern Pennsylvania into that district. One Youngstown in terest has taken 6O,OOO tons in recent purchases.
 The steel trades own contribution to the strain on capacity is empha- sized by contracts just let for open hearth and other works extensions. Four Eastern steel companies have placed a total of 10, 800 tons for such work with fabricating companies and the Inland Steel Company at Chicago has let 5000 tons of fabricated steel for it's open-hearth and other addi- tions.
 The weeks price advances make long list, including in part $1 to s2 on bil1ets and sheet bars, $2 on skelp, $1 to $2 on contract plates, sheets and bars, $2 to $3 on black sheets and $3 to S5 on galvanized $1 to $2 on wire rods. s2 on bands, S2 on bar iron, S3 on spikes, s9 on shafting and about 10 per cent. on nuts and bolts, be- sides $1 advances in several Norther pig-iron markets.