The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1916-01-29
FURTHER ADVANCES
In FINISHED STEEL
ARG PREMIUMS BEING OFFERED
FOR PROMPT SHIPMENTS.
Mills Forced 20 Keep Part OF Equipment
In Rsservo-MIn Products
Sold 20 May.

PITTSBURGH. Jar. 2s-Readjusting
OF prices Owe the last week In most OF
the finished steel products and bringing
them 10 the highest point in many years.
has been followed by unusual efforts on
the part OF the various producers TO in
crease output To an extent never before
attempted. and which is confidently cx-
pected to show some surprising results
after the month is up. The wire Indus
try has had no equal In It's present stand
Ing. Prices appear TO be no object. Nail
prices have the amazing base OF S2.e0 per
keg. but there are many offers of as high
as S2.25 for prompt stock This affects
the price. too. OF plain wire. y265 being
paid Tor "a SO-tOn lot. while wire rods
sofa at Sb5 per ton at the mill II one
turns 10 the shape and plate mills there
Is found q similar situation. with Nails
practically sold as far as May J.. to the
capacity OF the plants. and strenuous ef-
iSrts on the part OF the buyers TO break
through this condition.
The advance OF "A dollar a ton on struc-
tural material and plates and bars the
past week was fully expected. In fact.
the advance was less than even the mar
ket generally anticipated. but if an ef-
Tort 20 Get prompt plates or shapes g.
made. the real situation IS shown by a
demand OF from So 20 81 a ton I'm excess
OF the nominal market. There is. In fact.
not a product offered In the steel mar
ket that can be secured with anything
like prompt shipment or even an sixty
days. without paying several collars a
ton extra for this consideration. All
w~arehouse prices have also gone up.
Pipe while not fully employed In mill
operations. made Its new advance during
the week o.; from 50 20 S. a ton. base
on the alarming advance in cost OF steel
and skelp. Eut on the other hand. there
- essen an cncominB demand for pipe
that will seriously consest the pipe
plants this spring.
With the situation strained. there Is
noted 4 conservative attitude by the
larger steel compant.s on .riarreme,ts
The Carnegie Steel Company has fifty
o.. or us blast furnace operating. with
eight stll idle Il is kept down IN
I.u uf the demands for repair
work on so many stacks that as fast as
one D. ready 90 blow Boz. another u.s. pre-
pared 20 blow out. \ similar situation
exists In the Independent steel interests.
But pig iron buying has not changed
mucn. lu fact. blast furnace men In the
Valleys say that the new buying has
been small and 90 ~ quiet nature. WITH
eNpor buyers asking for bessemer. How
ever. they are NOT urging any business.
as al have their capacity sold ahead for
some time and are more worried over
coke supply.
car building companies are seeking
daily Tor "a more prompt IN OF
steel plates and car material. orders are
pressing heavily and IN the fahricatiug
shops the construction companies arc
declining 60 quote on new work far
ahttd. not yet being satisfied at tho
action OF the markets for material Most
Of the shops are booked 20 caracity for
five months. the orders being largely for
railroad work and Industrial plant eNten-
siCns.
Increasing demand FOR light rails. with
the steady swelling OF specifications for
standard section rails. has placed thu
ran mill operations on "a new high basis
IN over a year. with an advance IN light
rails OF So "a ton this week. and promise
20 Keep them on n high basis al this
year. unless the supply of raw steel fall
'ers. The Carnegie steel Company. with
Its l'' large open hearth furnace goin-
nt stop speed. are finding steel scarce
Tor mlIrfHlutHg operation ON the fun
basis. The Carnegie umuauy ie not
giving the same time and attention to
the steel round demand having connie
ted many or OTIS contracts and dfrffnInr
Co take on a1d.i 0rrar because of th1
crowded condition ~ the domestic trad
which receives first cnnzife~atfru IL fa
this condition that is influencing tho
Jones a. lauEh'i1 Steel COMPANY and tho
other larger ~indepen-.Ut plants iu tn
district.