The star-independent. [volume] (Harrisburg, Pa.) 1904-1917, 1915-02-19
IMPROVEMENT IN Steel
TRADE Being SUSTAINED
Spectacular Event Is the Rise in Prices
Of Galvanized Steel and Iron Pipe
Of % and % Ton. Rsspec-
tively

New York, Feb. 19.-The "Iron
Age" says tendencies in the next few
weeks in finished steel prices will have
an important bearing on betterment in
general. The creeping Improvement in
volume is being Sustained and in spite
of the small part contributed by the
railroads, and in fact because of it, the
trade is optimistic of the future. 1t
seems clear that the higher prices be-
ing asked for new orders of steel for
the next few months will be strongly
held The usual argument may be
advanced that not enough can be at
tracted by price declines and it is pe'
heved that should break occur, prices
will 60 below those of last December.
A stabilizing influence is that contracts
were driven in at current prices for the
second quarter prior to the late ad-
'vances. This is not to say that the
structural market for one think is yet
strong or that lower than ruling prices
are not made to-day for plates, but
these are not apparently of sufficient
influence to affect the general status.
The spectacular event has been the
rise in prices of galvanized steel and
iron pipe of Sc and 81 a ton respec.
lively. and in galvanized sheets of So,
because of the exceptionally high price
of spelter. zine blende in Missouri hav-
ing reached u record price. There is a
growing feeling that scarcity rather
than manipulation explains the spelter
prices and the prices for the galvanized
products are therefore likely to hold.
The wage question in some shet and tin
plate plants is not yet settled, and
meanwhile these mills are down, but
with stocks on hand to take care of
the demand for some time.
Uneasiness is again developing over
the supplies of ferromanganese. The
volume of stocks is indefinite as is also
the possibility of domestic selling of
the alloy. Meanwhile it has developed
that holders of English contracts at
ante-bellum prices of s3S are being ap-
preached with the suggestion that en-
bargoes may be lifted in the event that
current prices of S6S are paid for the
shipments, thus protecting the sellers
against the high ocean freights. The
estimated importation of the alloy in
1914 was 40 per cent. less than in
1913, and 25 per cent. less of the
manganese ore came to this country in
1914 than in 1918. In fact much of
the reduction of importations in iron
and steel products in December is due to
smaller shipments of ferromanganese,
The pig-iron business has not enioyed
any large sales, but it is looking upward
and not little encouragement is taken
among merchant furnaces in the deeid.
Vi improvement in machinery building
circles. The last few weeks has seen
a growing demand for machinery indie.
pendent of the larger buying attribu
table to the war account
Foreign business continues. Besides
the sale of billets noted in our cable
reports this week, other business in bill
lets has been done with Scotland al
profitable prices to the mills. Where the
shipments are not large, no great diff
Guilty is encountered in securing bot
toms.
The structural market has passed
through lean week. Much of tine bust
ness being figured is for public build
ings, municipal railroads and other pro
jects paid for directly by the taxpayer
but circumstantial and confident report,
are coming in regarding private enter
prises which will soon come before tn,
trade. The report of the Bridge Build
ers and Structural Society shows how
much an Improvement in the fabricat
ing line is desired, the business writer
in January amounting to no more thai
20 per cent. of the capacity of tn,
fabrieating shops. In this connection
it is interesting that for the six month
prior to August l contracts taken aver
aged monthly 6S per cent. of the capac
ity of the bridge and other fabrieatin,
shops, while for the six months sine,
the war the average has been only 81
per cent. March will probably be dul
in this line and not much is expecte,
of the railroads. The largest new offer
ing is for $500 tons for widening ele
waited railroads-in Brooklyn.
The advance in railroad freight rate,
of per cent. to go into effect on Feb
ruary 20 is causing no stir, and al