The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-10-12
ACTIVITY
HAS UNSETTL|NG
EFFECT ON IRON
Market Waiting Results Be-
fore Going Ahead in Max
ing Commitments-Price
Continues to Advance

Cleveland, O.. October 11-(Special)
The Iron Trade Review tomorrow will
say;
! with deep interest and some appre-
hension the iron trade awaits the OUT
come OF the new submarine warfare of
the German government Already at
least one important railroad system
mas ordered embargoes against ship
ment OF iron and steel products, and 1t
is expected that if the submarine at
tacks recur with much frequency, ship
ments of all kinds of products and ma :
chinery for export will be very much
curtailed. Hope is entertained, how
ever, that the destruction of vessels
will not be continued.
! The rapid advance of insurance rates
on ocean freight is already an impor-
tant factor, but it is intimated that
England and other governments will
absorbd additional charges of this
kind.
owing to the rapid advances which
nave already taken place in the coke
market and to the expected higher
prices of iron ore, and also to the very
advancing rapidly. In some cases, how
ever, quotations which have been made
were by sellers who were not anxious
to take on additional tonnage at the
present time. The Bethlehem Steel
company has appeared in the central
west with an inquiry of from 1900 to
1900 tons of Bessmer of higher silicon
analysis than usual for furnace. Inter
ests are not showing any eagerness to
pf Inxxy hos
phorous pig iron are very high and as
high as $40, eastern furnace, has been
paid Ruling quotations at Pttsburg
are $23, valley, on Bessemer, and $50
on basic, foundry and malleable. The
Trumbull Steel company is understood
to have purchased $4,000 tons of basic
at $40, and 10000 tons at $40, valley
1t is estimated that higher costs, due
to advances in wages and higher prices
for powder and other supplies, will
make the cost of mining iron ore in
the Lake Superior region 80 cents per
ton more next year, and 1T Is also ex-
pected that there will be an advance of
from 30 to so cents on ore carrying
charges, while royalties in many cases
will be higher on sliding scale con-
tracts. Hence it will not be surprising
If the price of iron ore is 81 per ton
higher next year.
In spite of the large increase In the
output by by-product coke. prices OF
Connellsvile beeded hive coke have
advanced rapidly and spot furnace fuel
has sold at $4.35, while some sellers
are holding foundry grades for prompt
delivery at Sc. Several furnace inter
ests have contracted for large tonnages
and on the whole the coke market is
very active
Leading independent manufacturers
of tin plate have named a price of Sc
per base box of 100 pounds for the first
half of next year. This is the highest
price which has ever prevailed in the
history of the industry, the next high
est having been $4.65, in 1899 Buying
has started without much hesitation
and it is predicted that even higher
prices may prevail later in the year.
Buying of rails for delivery in 1918
has now reached about 100000 tons
with the Steel corporation mills having
booked about 10000 tons of steel for
seven additional merchant vessels for
delivery early in 1918. tremendous
volume of plates estimated at 100000
tons, is pending for ship building and
many other buyers are in the market
T,,,,pico (uyast Of the Vardar river"