The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-10-27
BUYING OF PIG iron
BEGINS ON Big SCALE
Sales in October May Reach
100000 TOns-Predic.
ton Of $40 a Ton.

ten days ago, has begun. with transac.
tons amounting to about 250,0 00 toni
In the last week. Since the first OF
this week several large consumers In
the central West have quietly CLOSED
contracts for both foundry and basic
Iron In the lake district for delivery
over the laet quarter OF this year and
the first half Of 1915. II would mol
be surprising to ind that 2o0.0 900 ton.
have been soid IN the last few days
but the business is too new to tell the
exact extent of the buying. It is eetl.
mated that October sales will amount
to 500. 600 IN 1000, 900 tons, OF whicr
more than half will have been closed
during the second half of the month
Thus far the Increased interest in the
market has not been reflected in much
higher prices. but an advance Of mo.
ment Is inevitable, and conservative in.
terests In closest touch with the situa
ton declare that there will be n "whirl
In the market" before the close Of the
year. One battle SCARED veteran in pig
iron campaigns has given wing to the
belief that pig iron will sell ae high
as $40 per ton next year. This Of
course Ia an exaggerated statement, and
If given only TO Indicate the trend OF
the market.
On the other hand, IT, may he interest
ing to note that a thoroush anvas OF
onsume In Eastern territory. inciud
ing Connecticut. eastern New York and
part of New Jersey. shows that about
forty meters Of foundry iron are well
supplied with metal to meet their re-
Quirements well through the first few
months OF next year. In half a dozen
instances consumers reported that they
had enough iron purchased to meet
their requirements to July. 1916. Most
OF them have stocks of iron or iron pur-
chased which will carry them well
through the first quarter OF neNt yenr.
There are only n few consumers who
report that they have purchased iron
only for this years requirements.
One of the most careful buyers de
clares that iron is cheap to-day. and he
would buy literally. Notwithstanding
present stocks. II his board of directors
would sanction the purchase. II may
be noted. however, II present experience
Is borne out by the past that an ad-
vance Of another dollar per ton will he
the signal for additional heavy purchases
OF pig iron, ever by the consumers who
now say that their needs are covered
for three to nine months. II is esti-
mated that several hundred thousand
tons OF pig iron are In the hands Of spec
ulators. or rather In the hands Of
consuming interests on speculative ac-
u that is. they anticipated their or
binary requirements several months ago.
Several new inquiries for cast iron
pipe are in the market for export,
amounting to about $4,000 tons. includ-
ing $500 tons of 20 inch pipe for Rio
Iapairp Brasil a,a . &c. ,z,~ q -
20 inch pipe for another interes. in the
Same city. There is also an inquiry for
5000 tons Of 10 inch pipe for shipment
to Honolulu. Hawaii.
John J. Dick. who has been awarded
the genera, contract for 1000 tons of
S TO 30 inch pipe for East Liverpool.
Ohio, has placed the order for the pipe
with the Sco;dale plant NJ the United
States Cas- Iron Pipe and Foundry Com
pany. n, r. Wood 4 Co. receivers. have
been awarded a contract for 3st tons Of
s, $ and 10 inch pipe for Coatesville.
Pa, by Partridge & Blake. who were
awarded the general contract.
Tho city Of New Bedford. Conn, has
asked for tenders on sol tons OF 6. s, 10
n 30 inch cast iron pipe and eighty
tons Of special castings. Bid Will he re.
ceived November I The town OF Rus
sell, Kan, has placed an order for 9s4
tons Of s inch pipe with the United
States a Iron Pipe and Foundry Conn
pany al s3S 25 a ton delivered. The
town OF Miller. Ind. has taken bids on
296 tons of I 10 S inch pipe and Rayard.
Neb.. will receive bids on November Is
on 100 tons Of I, 6 and S inoh pipe.
80.
Lehigh and wilkosbarre Coal Com
pany Is in tho market for 500 tons OF
structural steel for a coal handling plant
az Ashley, Pa,
According to one authority all Of the
large contracts for war munitions needed
in the immediate future were signed in
the last few days. or the other hand II
is known that several contracts OF mo-
ment are still pending and additional in
Quiries put out yesterday included 800
600 1873 millimeter projectiles, 10000 4
inch. 20, 600 7 inch and 5000 10 5000
z and . inch shells, to be manufactured
to French specifications. There was
also an export inquiry for 10000 tons
OF steel blooms.
The Bethlehem Steel Company is abou
to place a contract for l,sO0 tons Of
fabricated structural steel for n garage
and office building AT South Bethlehem.
The Masonic Temple designed to be built
at Wllkesbarre. Pa. viii call for about
400 tons of fabricated structural shapes.
The Russian Government is prepa ring
To put out additional inquiries to Ameri-
can rail mills for 500, 900 tons additional
of heavy and light section rails, 1t is
expected. however. that the inquiries will
ha ntlt nnt nnaAat,tlHAl n,I In saf