The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-11-29
SCARCITY WILL SEND
STEEL PRICES HIGHER
Lull I'm Railroad and War Buy.
ing Fails to End Pressure
at Plants.

Although the railroads and nIanufac.
turers OF war munitions were less promi-
nent as buyers OF steel last week the
volume Of business going to the mills
was In excess Of capacity. Steel mills
naturally welcome any disposition TO de-
crease purchases by consuming inter-
ests. but while there Is an inadequate
supply of steel to meet tho demand. IL Is
said that prices must continue to adj
vance.
The output OF ingots In November TO
late has been fully as heavy as In oc-
tober. which WAS a rsSDrd breaking
month by January l the capacity OF
steel works Will have been increased
slightly. but with the usual shutting
down for repairs during the lid sea-
son the October and November records
are not likely to be reached again Tor
several months. Shipments Of course are
dependent upon the output ms well as
upon the transportation companies. OUT
other things being equal shipments OF
rolled products are within a fraction OF
the output of the mills
Machinery manufacturers were anon
the caves would-be buyers Of steel
plates and bars last week. In some In
stances contracts were accepted for de-
livery during the Hrst half OF 1915.
There was also an active demand Tor
blue annealcd. black ani ~gaivan'ze
sheets. Specifications against wire ana
sheet contracts were exceptionally heavy.
-..---t - a.. 100 s1s.l,,rA1a NJ UhaafA
reported their capacity fully sold TO
April /. The National Tube Company Is
expected to advarc prices OF black
rough pipe this week. Merchant pipe
Is especially active.
The locomotive shops placed large or
ders for boiler tubes, and manufacturers
OF tubes arc from II 10 two months
behind In making shipments. Merchant
boiler tubes are also active and tine de-
Inand for seamless steel tube ~ UNI
precedentedly heavy. Higher PRICES for
nuts and bolts resulted from continued
heavy demand and higher prices for
steel bars.
The Chicago. Milwaukee n 81. Paul
Railroad IL reported to have placed an
additional contract for 10000 tons OF
standard section rails. and IS about to
put out inquiries on $500 tons OF bridge
work.. Buying OF merchant steel. which
covers agricultural shapes, machinery
and spring steel. has been advanced ~
a ton, following tho free buying ana
heavy specifying against contracts. with
mills from two months TO ten weeks
behind in shipments.
Sales Of pig iron in all distributing
districts aggregated about $4,000 tons.
Of which about 1885, 900 tons were placed
In eastern and western Pennsylvania.
Prices were again advanced In some OF
the lake markets. and higher prices in
eastern Pennsylvania within the next ten
days are expected. With the advance
In pig iron consumer have turned more
10 SCRAP ana heavy purclit SEES of old ma
terial have resulted In another advance
of 50 cents to q u ton. The railroads
are hiding a ready market for their
nc~cu1nulations. In the Chicago dis't!c;
alone railroad scrap Lists amount "a
about 10000 tons Low phosphorus iron
4, -rw held at sac 20 s33. delivered. IN
eastern Pennsylvania. bu' II Is ints"-
est!ng TO note that tho high prt,es have
discouraged sorne export buyers OF this
Z net y.