The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1916-06-30
MEXICAN TROUBLES
HELP STEEL TRADE
Large Export Business q Sustaining In.
nuenee In the Iron ana
steel Trade.

NEW YORK. Juno 29.-Specificatious
on steel contracts are satisfactory TO the
mills. but new orders from domestic con-
sutners are relatively small Buying OF
cotton ties IL expected soon. now thai
the mills have established the price Al
sLSS a bundle for July. but as this IL
me hlghest price ever recorded the south
may delay purchases just as are the
agriculture implement makers in order
ing bars for the next year. Last year
the cotton tie season opened at IS cents
a bundle. This year sales may reach
$4,000. 600 bundles.
Domestic railroads are cautiously buy
ing supplies to be used In their own
shops and for track Improvement but
motive power and rolling stock require
ments have been quite well covered for
months 20 come. However. car builders
and locomotive shops must needs buy
nberaIy TO cover equipment construction
FOR foreign countries.
No larse buying OF war munitions by
the lnltcd states government Is expect
ed, but many small orders are being
placed Operations In MeNico are likely
10 be OF n guerilla character and hence
only small arms and shells are likely to
be put into service.
Export orders for finished steel con
'inue liberal and steady. No very heaVy
contracts are now under negotiation out
side " the Russian rails. although there
ara many more inquiries which aggre-
gate a heavy onnage.
The Iron Age ays Because OF the
probability OF early government buying
OF steel products and munitions the steel
trade believes the outcome OF the MeNi-
can crisis viii be more likely to help
than 60 nurt the market. Some war pro-
ducts now being manufactured for for-
cigu GOV rnmcuts can b. taken. as has
already been arranged in the Ease OF
machine guns, but new home orders
would no doubt be large. There l. al
ready some figuring in the trade on pos
siblc needs OF railroad material for
northern Mexico. New inquiries from
Europe for Bessemer pig iron, steel bill
let's and she'll steel are in such volume
.A 80 liza HLaH 81
,latc the possibilities of "A check on
American shipments OF finished NUM-
tious.
The week has brought more evidence
OF tho extent 10 which new export bust
ness Is sustaling prices In the home mar
ket in the face Of = further decrease. In
domestic demand and the continued ten
dency Of prices for early deliveries 20
approach those on contracts running
months ahead. Chicago reports that new
riders closed exceeded pine bu,
their rails and other Xpo steel were a
large factor.
Export rail inquiries apart from the
large tonnage for Russia are consldera-
bic. some OF them being appearance
after the lapse OF months. They include
10000 tons OF two Cuban roads, 5000 e.
1000 tons for Portugal. 1900 ions FOR
France and two lots for South Africa
and South America A sale OF 2O.0Ns
tons. reported as to Great Britain. may
be Identical with a transaction win
quiry sac Z. o. b.. mill was quoted.
"A central western manufacturer has
bought 10000 tons OF hgh section rails
which will DO esrNlce in rance in port
able tracks.
The recent closing by two large pro-
duccrs OF tsVeral hundred thousand tons
Of shell steel 10 followed b. limitations
that France and Italy are yet 10 buy FOR
the fourth and first quarters. New con
tracts both Tor steel and for finished
shells have been attended with an un-
usual suppression or the facts. More
cases came up. however. OF firms COM
pletiug she'll contracts and having no re-
ncwals.
a good amount OF steel bar business
has been closed. including some for inn
plemcnt work. Bessemer bars are TO be
had for fairly prompt delivery at 25OC
10 2Tsc. P1ttsOurgh. steel manufactur-
crs being now able 20 turn their crude
steel into the channels yielding the best
prout. are stil refusing 10 give imp!e-
ment buyers preferential prices"