New Britain herald., 1916-11-09
HIGHER PRICES AND
 A HEAVY BUSINESS
Bright Prospect for Pig Iron
 Trade During Coming Year

NeW OrK, NOV. S.-Ihe Iron Age says today:
 The pig-iron market shows a con- tinuaf1ce of the excited conditions of
 the past two weeks, with further sharp advances in price. At the same
 time the action of steer products has confirmed the predictions of higher l prices and of full occupation of the mills throughout 1917.
 October pig-iron output exceeded all expectations. It is the furnace com panies' habit to make a spurt in that
 month and in this case all records
 were broken with a total of 3,5O8,S49
 tons or 113,189 tons a day, against
 5,202,366 tons in the 30 days of Sep
 tember, or 106,745 tons day. The
 large steel companies, particularly in :
 the Pittsburgh and Chicago districts,
 strained for great outputs, and were
 unhampered by the coke shortage
 which affected some merchant stocks
 In the present condition of the pig
 iron market the great production last
 month was highly opportune. Noth-
 ing like it is to be looked for as win
 ter comes on and car troubles in
 crease. Our estimate of November 1
 capacity, based on average furnace
 performance, is 1O8,622 tons a day for
 326 furnaces, against 106,578 tons a
 day for BPS furnaces on October 1. Allowing 40O0 tons year for char coal iron, the October output repre- ser1ts a yearly rate of no less than 41,7OO,0O tons.
 The political tension of the week and the closeness of the election have apparently had no effect on the buying of iron and steel. Probably no week before a national election has shown more activity in those markets.
 Last weeks sensational advances in rig-iron did not check but rather stimulated buying, but the market is in confusion over wide variations in prices and the withdrawal of a good many sellers, particularly on business for the second half of 1917. Some of the new advances are without parallel for a single week. Virginia iron, which last week sold at $l9.5O, is now S24. Eastern Pennsylvania basic, quoted last week at S21.5O, is now s25 Lake Superior charcoal iron. Chicago, has gone from s2O.25 to s25 Southern No. iron has sold at SIS, Birmingham, in the past two days and some sellers quoted SEQ, while two important producers are out of the market.
 In the Central West, Bessemer iron has sold at $27, Valley furnace, and basic at $23, an advance of $1 for both. The buying of steel-making iron for export promises to keep up, and a rising market is indicated.
 The rise in finished steel products goes on On black sheets the leading which is now practically sold up for the first half, has made advances of $2 to $3 a ton. It has followed independent tinplate makers in putting it's price at $6 per base box, or 25c above it's first sales for the first half. Wire products were advanced s3 on November 6, or $2.S5, while fence wire has gone from $2.65 to S2.8O, and woven wire fencing is up $6 ton.
 On the leading steel products plates, structural shapes and bars some mills are refusing to quote for next year except on specific amounts to cover contracts in the hands of consumers. Tn plates the inability of the mills to cope with the demand is more pronounced and prices are telling the story. A sale of 12,OOO tons of export plates for Italy was made at 4.4Sc., Eastern mill. One Central Western mill has entered ship plate orders for the second half of 1917 at 4:50c., Pitts | ourgh.
 Tn the Chicago district there has been good buying of cars, rails, track l ,astenings and bars. About 1000 i ,ons of steel was taken from the l Western car lettings, and implement l added 0,000 tons of 1 sheet bars to their purchases for the l irst half of next year. Of the 100000 1 cns additional rails placed at Chicago | ,or 1917, 5O,O00 tons is for France and | 3oOOO tons for a transcontinental 1 inc of the Northwest.
 Car orders are growing as prices | .ise. In the past three weeks fully 1 ,6.OOO cars have been placed and ] builders are now beginning to choose between offers, being we'll booked for he first half of next year and on tank ars for all of 1917.
 There is nothing new as to shell ;teel contracts for the second half of .e17. Two large steel companies are believed to have closed recently for amounts. and the situa- ion is that on some hundreds of thousands of tons of rounds and forg- ng billets that must be bought there will be no particular higgling over the ,rice.
 Tn cast-iron pipe an advance of s3 O $4 a ton is imminent, following the lpward movement in pig-iron. Chi ago is about to contract for 5000 ons.
 Blast furnace buyers of coke as a lle are not ready to pay s4 for con- ract coke for next year and are dis posed to wait until the situation is less dominated by s7 and $7.50 prompt oke.
 GRAMMAR SCHOOL MEETING