The star-independent. [volume] (Harrisburg, Pa.) 1904-1917, 1915-04-30
STEEL INDUSTRY keeps UP
| AVERAGE OF, I OPER Cent.
The Earnings For March Were One
Third Higher Than For January
Last Weeks Interest Centered On
Buying Basic Pig Iron

New York, April s0.-ssThe Iron
Age says the steel trade appears to
be holding its own and leaders in the
industry are satisfied to do that, under
all conditions. While the expansion
looked for as spring advanced has not
come, the average 20 per cent. rate of
operations keeps up and with some
large producers the total of April or
ders will make better comparison
with March than seemed likely early
in the month.
The Steel Corporation statement,
showing March earnings one-thtrd
more than the total for January and
February. reflected the much better
promise for the second quarter and the
very poor priees-even poorer than
was generally known-realized on
January and February shipments.
This week interest has eentered in
primary markets and particularly in
the buying of basic pig iron in nearly
all districts outside of the East. These
purchases are in part significant of the
larger business of some steel com
panies and along with the weeks de-
velopments in Southern pig iron have
been factor of encouragement.
A Youngstown steel company has
bought $4,000 tons of basic iron, IL
500 tons of forge and 1000 tons OF
foundry, and a Northern Ohio steel
company 10000 tons. On the basic
iron the price was close to S12.50 AT
Valley furnace. The basic iron pur
ehases of two southern Ohio com
panies amount to $4,000 tons or more
half of it Southern iron, At Chicago
10000 ton sale has been made fol-
steel foundry use in the st. Louis dis
triet. trade of basic iron for iron
ore is reported in the Mahoning Val
ley.
A Pittsburgh interest has sold 16,
! 600 tons of basic iron for delivery al
Genoa, at SIG +. o. b. New York, OF
! S13.S6 at furnace.
The Southern pig iron market ha:
stiffened under heavy buying, the
April sales of Alabama furnace:
amounting to nearly 100000 tons. One
producer is now asking 1915 for de
! livery in the last half of the veal
and in other eases 1915 is quoted fol
| the fourth quarter, though $3.50 i'
| still the market for the second ant
third quarters.
| The week has brought few develop
ments in exports beyond the distribu
tion of contracts already widely pub
/ lished. Freights are easier and 80 shil
[ hngs to Liverpool is now possible. The
belief grows that American steel mills
are vet to do a heavier business will
Europe for shipment this year.
/ While London sdviees are that th'
/ $4,000 tons of rails for South Afrie;
will be divided between the Algom,
and Dominion mills at six pounds OF
ship at Atlantic port, efforts are still
being made to place part of the bust
ness in this country. The question o.
freights and vessel room will decide.
Domestic rail orders include 16,00(
/ tons taken by the Tennessee company
I part of it for the Southern Railway
/ 5000 tons placed by the Minneapolis
/ and st. Louis and 5000 tons by tn,
! Chicago, indianapolis and Louisville
/ The Pennsylvania railroads inquir!
/ has been formally renewed and th'
| possibility of purchase by this sys
/ TEN from a Canadian mill has been in
ieeted into the negotiations.
! The Standard Oil Company has beef
in the tin plate market and one inde
pendent interest is credited with sell
ing it 100000 boxes at a substantial
reduction from the 1925 basis. Welsl
! tin plates are irmer, tin plate bar pro