The star-independent. [volume] (Harrisburg, Pa.) 1904-1917, 1915-01-01
BUYING or STEEL rails IN
1915 BY ROADS UNCERTAIN
Thus Far There Is No Sign of the Ex'
tent to Which They Will Depart
From Policy of Buying Only For
Urgent Needs

New York, Jan. 1.-THE Iron
Age says the main development OF
the last week of 1914 is the action OF
a number of manufacturers OF bars,
structural shapes and plates IN advanc'
ing prices from 1.05c., Pittsburgh, on
early deliveries, TO 1.10c. one ihue'
nendent har interest made the advance
last week. On Wednesday, Deeehpei
30. the Carnegie Steel Company wlth,
drew 1.O5c. quotaitions and announceu
as IT'S minimum prices ON the three pro
aucts. .1Oc. for first quarter and l.loc'
for second quarter. Two independent
nro,lneers in these lines are reported 10
have taken a. similar stand this week,
and the indications are that the l.uoc.
ories is not being carried into the ne"
The amount of first quarter contracts
booked at 1.10c., on which readJust-
menas would he necessary If any lower
nr;ce prevaiis on current business, Is u
stron,q incentive to sellers to hold the
new minimum.
Interest has naturally centered'
ana,t from that taken in this price
movement in three market staples, IN
the outlook for railroad buying. Thus
far there is no sign of the extent 10
which railroads will depart from the
policy of buying for urgent needs. Rail
orders were placed early this year; SIM
ilsr orders are likely to come out carry
in 1915. The Pennsylvania and tne b.
and o. are expected to buy soon. some
Eastern lines gave 1914 rolhngs on
rails that will not be needed until next
spring. The. aggregate OF track supplles
soon to be required is considerable. ohe
Eastern rail mill has booked 5000 tons
in the past week and other Eastern rall
inquiries are pending, including 4,o0o
tons for the Boston and Albany.
Due to the reduced state of railroad
traffic and the fact that new cars can
be had IN six weeks, there is no hurry
to place car orders, but a few roads are
hooking up their needs. Prominence has
been given in this connection to the
Pennsylvania railroads. probable re-
auirements of 5000 cars OF various
tvpes. The Illinois Central is still nego-
tiating for 1000 refrigerator cars.
December bookings of all independ-
emit steel companies have been consider
ably larger than those of November,
though few reached the 100 per cent.
rate of gain reported by the Steel Cor
poration for the first three weeks of
this month, that being apparently due
to the inclusion of some special con-
tracts with extended deliveries.
The rate of mill operations in early
january will show a moderate increase
upon the December average. Steel con-
sumption is little changed, but specifia-
cations have come in better of late on
how priced contracts running out with
December. Predictions range from SO to
So per cent. as the probable operation
by the end of the first quarter. f.
Foreign barb wire demand is hard to
measure. Probably $4,000 tons of what
is talked about is actually wanted,
much of it for Great Britain. Further
large inquiries for shrapnel bars have
also come up. Russia is in the market
for 1900 tons of cold rolled strip.
a, Tin plate works are exceptional in
running at nearly 70 per cent. of ca
coats canneries are to be by the Pana-
ma canal earlier rollings than usual are
required.
Ihe standard Oll plate contract, zU,-
900 tons for shipment in the first half
of 1915, has gone into an eastern Penn
sykania mill.
December inquiry for east iron pipe
coming from gas and water companies
and other private buyers has been the
largest for that month since 1906. Low
prices have been the stimulant Balti-
more has just bought 7,400 tons and
Chicago $500 tons. Cincinnati will
take bids on 2,400 tons and Boston on
$500 tons. The first compil alton of
statistics of this product shows the
country's output to have been 1856
245 net tons in 1918.
Pig iron buying is still going on in
the Central West after subsidmg first
in the East and then in the South. A
gradual increase in blast furnace opera
tion is probable in the new year. Wher-
ever furnaces have taken on tonnages
filing them up for several months, they
have advanced prices, but the gain has
not been general. Most Middle Western
furnaces will run through the first quar-
ter on sales barely showing a profit.