The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-15
THE STEEL MARKET.
one Company Closes order with
AlIies for $50. 100000 shrapneI.


ture OF the steel market II was said
yesterday ny an officer OF large
American manufacturing concern that
his company has Just closed contracts
with the Allies calling for about s2O.-
600. 600 of shrapnel Domestic demand
H. rather quiet. hut Improvement is
looked for and production Is well main
tanned
II was announced yesterday that the
Chicago and Northwestern Ia In the
market for 1000 freight cars and nifty
passenger cars.
The Iron oe says: The steel trade
liz going on in its own orderly way.
scarcely measuring M 10 the scale OF
prosperity attributed to 1t In some quar-
ters. Consumption. which seems to he
gradually increasing, counting I'm steel
that Is going abroad, Is for the time be-
ing greater than new buying
The expansion I'm export business has
been marked In the past six weeks,
March contracts with foreign buyers OF
iron and steel products were probably
in excess OF 10000 tons, no. including
100000 tons Of shrapnel bars recently
closed for France No order has yet
been placed here for 10. 900 tons OF rails
for France ~ reported. and the fantas-
ito story OF q large French order for
bridges to span the Rhine ecarcely needs
denial
"a vast amount OF shrapnel business
has been and Is still being distributed
In this country by Canadian interest
which has an 81 5000 contract with
| Russia. but with this. as with a good
| deal else In war supply lines, there are
complications which make negotiations
| long drawn out The disposition is
| growing TO proceed very conservatlvely
IN regard to war contracts where many
| Intermediates arc AZ work
with half OF April gone. there 10
| some hight on tho situation a. TO prices
| OF plates, shapes and bars. which were
| advanced TO 200. Pi'tshurg by leading
| manufacturers. Less weakness has sp-
| peared than p part az the trade pre-
| dicted. yet new business I'm these lines
| is still limited Sales OF bars and
| shapes have been made AZ zoe. Pitts
| burg. and Pittsburg mills have taken
| plate business at 1.i5c.. while some ohio
plate mills have sold rs low as iloc..
| Pittsburc.
''surprisingly. rabr'catinr contracts
booked In March. including elevated
work and several large jobs figured on
in preceding months. ran Mp to 50 per
cent. Of months capacity. figured on
| the basis OF 200. 600 tons year In
| the eight months OF tho war Tho aver
| age OF such work has been less than
| 3J per cent. ~ capacity.
| I'm tne llpn''T steel pTpuuVtt IN" MAI
| ket has gone on IN humdrum way
| sheets have developed some weak spots
especially I'm galvanized, which have heer
| offered TO iohhers NJ 2 25C. to 330C. a,
| central Western mill TIN pi-te ship
! ments in March we're tho largest frr
one month IN ove- a year. Wire prod
u,'s ar- loss active. part cularly feur-
ing. and there I. no Indication o. spe'.
ulative buying
tfaf M -, y.
sheet liar trade, hessemer bars having
sold NJ $50. Youngstown. rs against
sl9 20 for open hearth American bill
lets have sold AZ 1873 shillrgs .. I. :
Liverpool. or $40 -. and even ~ present
freights such business - quite a'trac,
tive
The Iron Trade PrrtH,r SAYS: '"WirA
mills ar. now operating about % pei
cent OF capacity. Tin plato mills are
also very active, and there "a improve.
mcut In other lines In spite of some
shading on desirable business prices are
being pretty generally maintained or
finished materials
The principal buying ~ pig IRON ha'
been in the eastern territory. whcr,
I.u,,ns Iron and S'cel Company pur
chased from 10000 to 10000 tons hasic
The pig iron market az Chicago is more
active.
enquiry for machine tools does not
show as much business. due 20 the Euro
pean war; hut domestic demand b,
slowly improving. and very .rcourag
I ing feature has been the appearance %
lis; machine tools to he purchased hS
tho burlington. containing the largos
list tools which has come from any
Western railroad I'm many months
PittshurC machinery manufacturers ar
= in n more cheerful frame OF mind"