New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-03-01
STEEL MEN SEE
NEW HIGH MARK
1899 and 1900 Records May
Be Eclipsed Soon, Say
Company Officials.

The steel industry was never 80
prosperous as to-day. according TO
officials of the leading companies. Or
ders aggregating 100000 tons. valued
at S240,OOO,000. have been placed since
the first Of the year, and all signs
point to no abatement in the demand.
Aside from the direct effects of the
European war, the industry has re-
ceived a tremendous impetus from or
ders placed for equipment by land
and water transportation companies,
which are almost swamped by an I'M
precedented volume OF traffic.
The swift rebound from the depres-
sion OF the months following the out
break Of the war has been SO marked
that steel men arc now predicting
prices that will eclipse the 1899 and
1900 high records. The inevitable re-
action is not expected for at least sew
eral months, in view of the statement
made in authoritative quarters that
untitled orders for leading companies
now total 100000 tons.
The subsidiaries Of the United states
Steel Corporation contributed 10000
900 tons TO this amount. This means
that the mill capacity OF the country
is under contract for nine months pro-
duction, and large sales have already
been made for delivery over the first
quarter of 1917.
Orders placed in the last two months
indicate profits 20 the mills Of $780,
600 900. half Of which is expected 70
accrue 20 the Steel Corporation. Prices
have advanced from So TO $40 4 ton
since New Years Day.
II was estimated in 1916 contracts
for railroad equipment and steamships
calling for 100000 tons, TO cost Sl2o,-
0O0. 900. for construction. have been let.
Orders booked by car shops alone are
valued 1t Si9,000,000, and locomotive
builders have accepted contracts m
volving sl9,500,0O0.
American Yards Busy.
IN the shipbuilding industry every
American yard is said 20 be engaged
% its fullest capacity for several years.
Orders have been placed for forty
three boats since January !. and 334
ships are already under contract 20
for the merchant marine and ffty-nlne
for the United States government.
Il is estimated that 10 per cent OF
The export sales have been for the man
ufacture OF war munitions in Europe.
In addition, heavy sales have been
made to domestic manufacturers OF
shrapnel end high explosive shells des-
tined for the war zone.
February's sales OF war munitions
are estimated az 100000 tons for direct
export and total way sales since the
first Of the year at 100000 tons.
The prosperity has spread to the pig
iron industry. which is revivlng after a
period of depression. In the last ten
days sales have aggregated 100000
tons. more than half of which was steel
making iron. February's total sales
were more than 100000 tons and those
for January and February $4,000. 1t
is pointed out also that the steel com
panies generally manufacture their
own pig metal and are dependent upon
the open market for only fraction Of
their requirements.
The production and consumption OF
pig iron last year were record breaking
and open market sales were in excess
OF 1000 900 tons. Steel men predict
that the 1916 production will surpass
this record