The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-11-04
THE STEEL MARKET.
Trade Continues Powerfully Ac.
five In Al NNartera.

The steel trade continues fcverishlN
active. 4 large volume of business ~
pending aud new transactions are limited
only by the ability of the mills To make
shipments. Yesterday the largest inter-
es;s are reported to have closed several
big contracts for bars. plates and shapes
for delivery during the first quarter Of
next year, the principal purchases being
made by manufacturers of railroad
euuipmcnt. car builders are negotiating
Tor enough steel TO cover the placing of
additional contracts for $1,000 to 10000
cars.
Additional export contracts were
placed for lo.hou to $1,000 tons of steel
bars, and domestic manufacturers bought
10, 900 tom for shipment over the FIRST
and second quarters of next year. some
large contracts for rails were closed In
Tho central West. but details are not Yet
available. and In the Eastern section
several miscellaneous orders were taken
for as early delivery as can be made
BY the Eastern plants.
Steel blooms are irregularly higher. rang
tr. from SO TO 80 "A ton, and even at
these prices consumers ar urgently n the
market Tor any delivery that steel mills VIII
promise.
The output al "a. iron IN October was IN
excess OF AGO. 800 tons, and including charcoal
iroa the rate OF pl- iron output TO-DAY Is
about q 40 10 tons annually. The buytn:
movement that developed last month con-
tinues to gain momentum III the Pfttsbura
and lake districts. but there Is less ACTIVITY
IN the Eastern territory. This, however.
apparently Is only temporary
The average price OF bcssener lroi! IN Oeto-
ber WAS s6 and OF base IRON SoOlt7 a
tor a, valley turnaces-Mahonlng and Shcii-
The American Sheet and Tin Plate Com.
psny reports the volume OF sheet ana tin
plate business in October AZ the heaviest
IN the history of the COMPANY, The same
may b. said OF wire products' Manufacturer
OF standard black aud line pipe nave lowcrei
the discount oac point. which Is equivalent
90 s. u ton.
Tie Iron y.odc' Recirr says;
such "A tremendous demand continues 20 he
put upon steel makers that on all sides plans
for e~iUargcmeuts of capacity are being hurried
into view, The steel Corporation Will eSpend
Chicago, ard IA the East no less than a half
dozen independent companies are formulating
propositions Tor open hearth steel works
extensions and finishing malls, One Eastern
plant which had not been IN operation for
about ten years Is being rehabllitated.
October proved the record breaking month
for the Industry, and more pig iron and ste~l
were produced than III any similar period
tn history,
"Never has the steel trade seen demand 50
Overwhelming as AT present and AT the same
time output expanding on such a scale, under
steadily advancing Prices, The tide has riser
rapidly this week with increasing signs OF ex
element
the month IN which the country's yield fret
reached 3,0g0.pV tons ana the daily output
crossed The 10000 ton mark, Al 2, l-S,+ si tom
IN thirty.Oic days the October pig iron out
put repre- sents 1O0.s-2 tons u day, against .,
10. Sol tons, or Vi. 0i tons a day in September
On November |, with go furnaces going, the
capacity III blast was iOi, $40 tons n day
nsainst % .j35 tons a day tor 9Ss furnaces or
October |. Thus, including charcoal iron. oui
pig iron output IL now at the staggering rate
OF 81. 800. 90 tons a year, or ! 900, 900 tons more
than the rate OF one month ago,
''Buying of foundry iron Is more genera
and contracts for the first half OF 1919 arr
now freely made. The week has brought ar
irons and 81 IN charcoal iron, even ihougl
merchant furnaces increased their output las
month by more than 700 tons a day. South
ern iron. following sales OF nearly lGO, roo tom
by two interests In October, has gone 10 81
for No. ., while sales for the first half of 1871,
have been made AT si3, 80 and higher.
AN extraordinary situation exists regarding
prices of finished steel. Orders have beef
sent In with the request that they he entered
lines II 10 u question Of finding "A mil tina
Gan make the delivery desired. On their par
She mills are holding back demand for mex
rear. Only the largest buyers seem able Il
ret protection on their manufacturing cost
for 1916, and some manufacturing consumer
uAy hnd their output curtailcd by lack o
TN plates and shapes a few mills have opel
capacity late IN the year and these have M
difficulty in getttng " a ton above the l,50c
pittsbury basis,
In Great Britain the iran ACES cable ssy
thai Government requirements for shell ste-
are beginning to occupy exclusive attention
new tHauiry OF this. character there amount
lns 0S,ooo,oW tons"