New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-10-29
STEEL DEMAND
EXCEEDS SUPPLY
Impossible to Buy Pig
Iron, Scrap or IngOts for
Quick Delivery.
BUSINESS DOUBLE
THAT or YEAR AGO
$4,000 Employed in Producing
End-Must Mine 100000
Tons Next Year.

20 great mas bttu lut hAAAtU anu
general revival in the iron and steel
trade OF the United States that, while
virtually every blast furnace and steel
mill in the country is working night
and day TO capacity, the demand for
iron. steel and steel products cannot be
satisfied. II is to-day almost impossible
TO buy, for immediate delivery, any pig
iron, any scrap or any ingots in size
able quantities at any industrial plant
In the country.
The revival began about July last,
has been coming on rapidly. with q
deluge Of orders since the middle Of
August, and may not yet have reached
its high mark. Within these three
months the price Of pig iron, long re-
garded as g. e barometer of trade. has
increased approximately IS per cent,
and that Of steel and steel products,
except steel IA is, has gone up about 10
per cent
AT the present time the demand for
pig iron and for the various lines OF
steel is in excess OF the producing ca
pacity Of the furnaces and mills OF the
United States" said Judge Ebert II.
Gary, chairman OF the United States
Steel Corporation, yesterday. The
manufacturers are unable 20 make de-
liveries entirely satisfactory 10 the pur-
chasers with respect 10 large ma
jority of the different kinds Of fin
ished steel.
Prices viii Go Higher.
"Tbere il nothing TO indicate that
there will be q decrease in the demand
for any of these products Tor some
time. While prices received are sull
low, they nave been and are increasing
and apparently will 20 higher, so that
fair and reasonable profits may be eX-
pected.
"Of course, these very satisfactory
conditions are more or less affected
by the war business, so called, yet II IS
undoubtedly true that there Us bet
ter feeling throughout the general IRON
and steel trade than has been expert
enced for some years past
Experts who nave followed the rising
fortunes of iron and steel within the
last twelve months asserted shat the
volume Of business, both domestic ana
foreign, at present is more than double
what ii was a year ago, and that tner"
are to-day 10000 men employed at
iron and steel plants throughout the
United States who were not on the
payrolls a year ago. This IS about 90
per cent increase. The reason for the
increased number Of men employed
being disproportionate TO the volume
Of business, they assert, IS that during
dull times many men were retained for
the purpose OF making repairs, clean
ing up and doing odd jobs.
Last Idle Furnace Started.
The fires have been lighted in prac-
tically every blast furnace in the
United States. In the case of the Stee!
corporation. the last remaining idle
furnace, al Columbus, Ohio. IS now
BEING put into operation. Plants closed
for long periods. due to the high cost
of operation and tho prevailing low
prices Of their products, have beer
blown in during the last three months.
To find a parallel for the greater ac-
tivity In the iron and steel trade, II
was said. It was necessary 20 90 bac.
eight years. 10 the middle of 1907.
Steel and steel products are rolling
out Of the mills to-day az the rate Of
100000 tons a year, II is cOnserva-
lively estimated, and iron is being man
fractured AT the tble OF tVfpvV'VVV tDUSs
To supply the demand next year, It IS
estimated, It will be Necessary to mine
from 100000 to 100000 tons OF
iron ore. an undertaking not attempted.
it is said, since the banner days Of
eight years ago. Yet, with all the pres
ent activity. so great is the demand it
is stated, especially the foreign demand,
that il is virtually impossible to-day to
buy for immediate delivery.
Prices have increased somewhat slow
", but there seems 10 be every indl-
cation that further rises are on the
way. At the present time II is esti-
mated that there are employed IN the
producing end Of the industry approXi-
mately $4,000 men.