The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1915-07-26
IRON OUTLOOK BETTER.


IRON OUTLOOK BETTER.
In a Geological Suryev mtd-yeal
statement, E. F. burchard thus re
views the six months trend Il the
i iron industry:
At the close of 1914 it was gener
ally believed that conditions in the
iron industry had reached about as
low an ebb as was possible and tina
a reaction must soon begin. Aside
from this feeling. however, the pros
poets at the beginning of 1915 seemed
fairer than they had been To-: many
months. although 1t was realized that
many restraining influe- les would
likely continue to operate well into
the year.
A glance over the course of the
iron industry during the first half u
1915 is at least reassuring. for 1t in
dicates that the moderate hopes en-
tertained at the beginning of the year
have been fairly well realized. The
beginning of 1915 found the lower
lake docks and the blast furnaces de-
pendent on lake ores. well stocked
with ore, for which there was little
demand. yet the mines were equipped
to supply more than has ever been
required Precedents generally point
ed to an increase in output of ore In
1915, for. with only few excep-
lions. there has been larger output
of iron ore each year following a
year of declining production The
iron mining season has begun auspl-
ciously for the Lake Superior dis
trict. for in the month Of May. 1915.
the shipments were 5.O12.357 long
nifty ne2 long
tons in the corresponding month in
1914. according to the Iron Age. an
increase of 1.160.294 tons, or more
than thirty per cent
AS to pig iron output there has
been steadily increasing produc-
ton for each of the first five months
of 1915. This contrasts most favor
ably with the monthly output in
1914. which reached it's maximum in
March and then trended steadily
downward to the end of the year
The production in May, 1915, while
not quite reaching that Of March.
1914. was about s per cent greater
than that of May. 1914. and all indi-
cations now point to an increased
total output of pig iron in 1915.
Prices of Bessemer and basic pig
at Pittsburgh in June, 1915. showed
an advance of to Is cents ton
over those of May to March, 1915,
but they were about thirty cents
ton lower than prices of those grades
in June. 1914. Prices of No. foundry
at Pittsburgh have remained practi-
cally stationary this year and are
about forty-five cents ton lower
than in June. 1914. while the price
of Southern No. 2 at Birmingham
has declined twenty-five cents ton
within the last month. and is %
cents lower than in June. 1914. Pig
iron prices, therefore. are not par
ticular consoling at present.
Among the indications of return
ing confidence, however, is the grad
ual resumption of 1915 of much con.
struction work at iron and steel
plants that had been abruptly
stopped at the outbreak OF the Euro
pean war, as we'll as the beginning OF
considerable new work. Important ex-
tensions at the plants of the Bethle-
hem Steel Co., have been resumed,
important new, or resumed opera
lions of the U. S. Steel corporation
are under way at the Homestead,
Newcastle, Sharon. Gary. Edgar
Thomson, and Duluth plants; ben
zol recovery plant is being construct
ed at Fairfield, Ala, and plant for
the production Of phosphate fertiliz-
er from basic open-hearth Stag at
Ensley, Ala. The construction IF
benzol recovery plants is especially
active at present, for. besides those
already mentioned, plants are being
erected by the Thomas A. Edison Co.
at Woodward, Ala, the Northwestern
Iron Co., at St. Louis, Mo-, and the
Republic Iron and Steel Co., at
Youngstown, Ohio.
One American industry, which re-
quires large quantities of iron and
steel. for which the future appears
particularly bright Just now, IS that
OF shipbuilding. The great destruc-
ton of ships in the war, coupled with
the inability Of European builders to
replace them, on account OF the
high prices of steel and of labor. and
also because practically all European
shipyards are busy in naval construc-
ton work. has caused a flood of or
ders to be poured into American ship
yards, especially in the east. 1t Is
probable, therefore, that with the
work now in hand and in sight.
American shipbuilders will have all
the business they can handle for sew.
eral years
The general outlook for the latter
half of 1915 is better than that at the
beginning Of the year. yet IN the
face Of considerable enforced idle
ness. especially in southern iron and
steel centers. the situation must
necessarily show very marked i'm
provement before It can be regarded
as satisfactory.