Harrisburg telegraph. [volume] (Harrisburg, Pa.) 1879-1948, 1916-03-02
SOARING PRICES:
BIG CONTRACTS
Steel Boom Continues In
abated; Week of Heavy
Buying in Pigs

Soaring prices in practically every
booking of some large orders, includ-
ing several railroad rail orders and
bridge contracts, are features of the
week in The iron and steel industry.
according to to-day's review by the
Iron Age. Says this journal
Steel prices are rushing up at a
furious pace and in the past week con-
ditions have grown more excited.
Manufacturers as we'll as buyers con-
slider the present level dangerous, but
some of them had the same view
weeks ago. Now they generally pro-
test that they are creatures of a sit
uation the end of which none can
predict
ut has been week of heavy buy
ing in many quarters, notably in pig
iron and old material. More than
100000 tons of steel-making pig iron
has been closed and the Steel Cor
poration alone has bought 100, 900 tons
of steel scrap in the Pittsburgh and
Chicago districts.
Railroads see that $40 open-hearth
rails are the cheapest product on the
list and at least three systems have
placed orders as far ahead as 1917, the
total thus far for that delivery being
about 10000 tons.
"Shipyard buying is at pace never
before known. and already the leading
steel interest has booked 10000 tons
of steel for 20 vessels that will be
under construction in the second quar-
ter of 1917. largely for foreign owners.
Similarly there is figuring long
ahead for steel for bridges and build
ingS. The American Bridge Company
has taken the contract for bridge for
the Bessemer and Lake Erie Railroad
over the Allegheny river at Oakmont,
Pa, that will require 10000 10 1900
tons and will he a year in building.
A bridge at Steubenville, Ohio. for the
LaBelle Iron Works will take 5000
tons. \ bridge over the Ohio river at
Louisville, Ky. just let, calls for 5000
tons. In the East fully $4,000 tons in
structural contracts has been let this
week and nearly as much is about to
be closed. Quick decisions have been
made on some work to avoid higher
prices.
BUY Boats for Deliveries
New rail orders include $4,000 tons
for the Southern Railway, of which
10000 tons goes to Ensley 5000 tons
for the Wheeling and Lake Erie, $500
tons for the Baltimore and Ohio and
Russian rail contracts went to three
mills and the total is about $4,000
tons. II is understood boats have
actually been bought to insure delivery
of these rails.
pittsburgh reports the Offering of
100000 tons oil bars for shells, which
mills have been unable to consider
Considerable foreign requirements have
come up for large squares and blooms
for forging. But efforts of foreign
buyers have lately concentrated on
barb wire for the second half, and
$4,000 to 100000 tons is before the
mills.
Activity in steel-making pig iron,
along with heavy buying of steel scrap
shows the larger steel companies need
of outside material. One Pittsburgh
interest bought $4,000 tons of basic
and 900 tons is under inquiry in that
market. Cincinnati sales of basic
amounted to $4,000 tons and a large
block is pending there. An Indiana
steel company bought 10000 tons, and
in eastern Pennsylvania 1900 tons
was taken. while Buffalo reports a
good sized basic sale