The star-independent. [volume] (Harrisburg, Pa.) 1904-1917, 1915-03-05
MANY ORDERS Cause GOOD
FEELING IN Steel trade
Large February Specifications and
Broadening Operations of Mills Pro-
duces Optimism in Producer and
Consumer Toward Future Prospects

New York, March 5..'The Iron
Age says the February record of
larger specifications by buyers and of
broadening operations of mills has ere
ated good feeling in the steel trade,
but with it question is raised as to
the maintenance in March of the recent
rate of new bookings. The advance of
heavy steel products to 1.15c., Pitts
burgh, put into effect March /, finds
many consumers covered for this month
at 1.10c., while not a few have con-
tracts at 1.10c. that will carry them
one or two months into the second quar-
ter. 1t is not likely, therefore, that
active enough at once really to try out
the new prices.
The month starts with steel ingot
production at 60 to 65 per cent. of ca
pacity, the latter being the Steel Cor
poration s rate. Due to the heavier
shipments last month-and shipments
are the real barometer-th Steel Cor
poration S untitled orders at the end of
February, while more than at the end
of January, showed a smaller increase
for the second month than for the
first.
A number of independent producers
have had the same experience as the
Steel orporation-larger shipments in
February than in January, but with a
tendency to quietness showing itself as
the month ended.
While Disappointing as to cars and
locomotives, there is no great complaint
of railroad buying of rails, which for
the first two months of the year has eX-
ceeded 100000 tons. The Agloma Steel
Company sales to railroads in the
United States have excited more com.
ment in view of contract for 5000
tons closed last week with the Illinois
Central. Rumor made this sale consid-
erably larger, but verification of high.
er tonnage is lacking. Previous sales
of the Sault mill on this side were over
10000 tons, including two of 500 tons
each of open hearth rails in northern
Ohio, one of these being at $29.40 de-
livered, or nearly SO under the quota
tion of domestic mills.
The Northern Pacific has bought TO-.
| 600 tons of rails, of which $500 tons
was placed at Chicago, $500 tons at
Buffalo and 1000 tons at Pueblo. The
Illinois Central will buy its Southern
rails, amount not stated, from the
Ensley mill. The Great Northern has
given out 10000 tons in the week and
the Omaha road 5,400 tons. The In.
ternational Great Northern has placed
$500 tons at Ensley and the Pennsyl-
vania has given the Illinois Steel Com
pany a similar trial order $4,000 tons)
to those placed with Eastern mills.
British mills will furnish the $4,000
tons called for by Queensland. France
is in the market for an amount put as
high as 10000 tons, but nothing has
been placed in this country, as reported
in London. Russia has bought several
thousand tons of light rails.
The Burlington has bought 1900
gondola ears. There are still pending
about $500, or less than week s
work for the country's hungry car
shops.
Pig-iron production in February was
, again an index of the better output of
steel, the total being 1,674,771 tons,
or 59,S13 tons day, against 1901
421 tons in January, or 81, ,659 tons a
| day. The increase of $50 tons a day
was entirely due to the blowing in of
steel company furnaces. Active ca
pacity March l was 63,033 tons day
against 56,270 tons on February /, and
176 furnaces were in blast, gain in
the month of Is, and for the past two
months of 80. The present rate of pig.
iron production is about 100000
tons year, as against 100000 tons
year in December.