The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-03-04
THE STEEL MARKET.

The steel market remained quiet
yesterday with conditions unchanged.
There has been no Increase in buying Of
late. and the question now arises as to
whether demand will be maintained.
Much depends on the volume OF incom-
ing business received during tho cur
rent month. Equipment buying is slow.
Business go far this year has been
less than one-third OF tho amount
booked during the first two months OF
1914. The outlook. furthermore. is not
bright, as car buying as a rule falls
on toward March and the summer
months are generally slow.
The Iron Age says: The February
record OF larger specifications by buyers
and of broadening operations OF mills
has created n good feeling In tho steel
trade, hut with 1t a question is raised
az to the maintenance In March of the
recent rate of new bookings. The ad-
vance OF heavy steel products TO 1.15c.,
pittsburg. put into effect March !. finds
many consumers covered for this month
at l.l0c.. while not a few have contracts
at i.10c. that will carry them one or
two months into the second quarter.
A number Of Independent producers
have had the am experience as the
Steel Corporatfon-larger shipments In
February tina in January. but with a
tendency to quietne~ shoving itself az
the month ended.
while disappointing az 10 cars and
locomotives there So no great com
plant of railroad buying OF raiis. which
for the first two months Of the year had
exceeded 500. 900 tons. The Agloma Steel
Company's sales TO railroads in the
United States have excited more COM
ment In view Of n contract FOR 5000
tons closed last wseli with the Illinois
Central. Rumor made this sale consld-
eraby larger. but veriication OF q
higher n Is lacking.
The Northern Pacific has bought
20. o0o tons of rails, Of which $500 tons
was placed az Chicago. 800 tons nj
Buffalo and 1000 tons at Pueblo. The
Illinois Central vii buy its Southern
rails, amount not stated. from the
Ensley mill. The Great Northern has
given out 10000 tons n the week
and the Omaha road 5.4oO tons. The
International Great Northern has placed
1900 tons al Enslcy. and the Pennsyl-
vanla has given the Illinois Steel ON
pany a similar trial order t2.0oo tons)
to those placed with Eastern mills.
British mills viii furnish the %. 600
tons called for nv Queensland. France
- In the market for an amount put as
lNgh az 10000 tons. hut nothing has
been placed in his country. as re-
ported IN Tondo1 Russia has bought
several thousand tons OF light rails,
The Burlington has bought l.5oo
gondola cars. There are still pending
about $500. or less than a weeks work
for the country's hungry carshops.
Pig iron production in February vas
again an index OF the better output OF
s.eel. the total being l,67+.771 tons. or
sos tons a day, against l.soi a2l tons
: in January. or 5l.65o tors a day"
The iron TRADE Rcrten says. ~
spite all complications OF war export
ing 81 pig ron IS being done more
freely in mall quantities. Toanages
are going principally TO Italy. Inquiry
for a considerable tonnage for export is
pending. Illinois Central Railroad ha'
placed an order for 10000 tons OF stee'
rails with the Algoma steel Corporation
Of Sau!t Ste Marie. Ontario. This Is
the largest order Yet taken by the on
tario mill m this side of the border
Other rail sales OF the past week include
%. 600 tons for the Northern Paciic anal
10. O0O for the Great Northern.
Structural awards Of the week IN
clude 1900 tons for elevated work in
Brooklyn. awarded to the America
Fridge Company. and $500 tons fo'
bridge AT Cleveland. awarded 10 the
King Bridge Company"