The star-independent. [volume] (Harrisburg, Pa.) 1904-1917, 1915-01-29
Steel TRADE PROSPECTS
seem TO Be Frightening
Further Rail Orders Given Out in the
West Tend to Increase Optimistic
View of the Situation in the Iron
Industry

New York, Jan. 29.-tThe Iron
Age" says: On the whole the reports
from works give rather better az
count of the steel trade than current
sales. But il is to be noted that mills
have been shutting down and reSumlng,
and that only the assumptions get pub
lieity.
The Steel Corporation s report OF
S10,900.000 earnings i'll the last quar-
ter of 1914. or S2,50O,000 less than
the previous low record in 1904, shows
that the last two months of the year
were worse than was generally known
at the time. The figures should serve
to check the tendency in some quarters
to take too favorable view of Janu-
ary conditions. for il has been creep
ing improvement and nothing more.
Some further rail orders have been
given out-elose to $4,000 tons in the
west, of which 10000 tons went to the
Colorado mill. made up of 10000 tons
for the Missouri Pacific and 10000
tons each for the Burlington and the
Rio Grande. The Chicago and Eastern
Illinois bought $4,000 tons and the
Union Pacific 10000 tons. The Bur
lington has placed another supplemental
niu6I OI p,VVV NOuS At N|ulNNSbs L hC
st. Paul and the Rock Island are in
quiring for about $4,000 tons. Eastern
mills have taken $1,000 tons for the
boston and Maine; the lnterborough is
asking for 5000 tons and the New
York, Ontario aud Western for $500
tons.
In the export trade the chief item
is the booking of 10000 tons of rails
for the Chilean State railways. France
has bought 10000 tons in England and
Germany has an order from Sweden for
$4,000 tons. In spite of high freights
some business in semi.hniShed steel for
England has been taken here, including
5000 tons of billets which the Ten
nessee Company will roll. In wire and
shrapnel bars the export demand seems
10 have subsidized. The French recon-
structiou of bridges. investigation by
American structural mills show, will
largely await the ending of the war.
Steel for smaller repairs has been
placed in England.
Recent rail orders will give the Gary
mill work for two months. and in view
of its starting up on February s one
of the idle blast furnaces there has
been blown in. The Steel Corporation
is also to blow in this week furnace
at Lorain. Ohio. and two in the Pitts,
burgh district. Active ingot capacity
of the corporation is now close to 80
per cent.
In structural work somewhat bet
fer prospect is indicated. About 81.
600 tons is represented in live projects
in the east. including 5000 tons for
the Pennsylvania railroad and $4,000
tons for third tracking of elevated rail
roads in Brooklyn. For track eleva.
tion at Indianapolis 10000 tons will
be required and bids are being made on
$500 tons for bridge in Vancouver.
Pipe line work has come in well
With 155 miles of S-inch pipe for the
Magnolia Petroleum Company and &c
miles of S-ineh pipe for a gas company
in Oklahoma, the total recently close
is fully 1000 miles.
With total of eleven vessels now
under contract, three about to be pla.et
and others pending, eastern Shipyard,
look forward to one of their buses
wears, apart from the government : ma
val program that will come later.
Galvanized sheets have already ad
vanced So a ton, or to 2.90c. for No
2S, due to the sharp rise in Spelter. anJ
sellers of sheets are none too ready Il
quote this figure.