The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-01-26
STEEL TRADE BRISK
UNDER The SURFACE
Huge Contracts for War Ma
tcrial Are Being Nego-
tiated Cautiously.

! Temporarily there is a lull upon the
surface " the steel trade. Mills are
heavily sold and consequently are in
clined to discourage the placing OF large
new business Mt the moment. ON the
other hand consumers are less inclined
to purchase because OF the high prices
prevailing. Under the surface, however.
a large volume of business is waiting.
Huge contracts for war material are
being negotiated quietly and cautiously.
In the aggregate nearly n million tons
of steel. In one form or another. are
involved. Various commissions and
boards representing the allied Govern
ments are waiting only a favorable OPP
portunity to distribute additional con-
tracts for shrapnel and high explosive
shells and other munitions Of war.
Other export contracts involving a lib
oral tonnage of steel in the aggregate
are in prospect. A few additional mis-
cellaneous orders. including bars. plates.
shapes skelp. as we'll a. railroad
material. have been placed through mer-
chant interests In the last few days.
contracts for wire products are difficult
10 close. The largest interests In the
International market show an indlsposl-
ton to accept contracts because OF the
oversold condition OF many of the mills
III the central west.
Domestic railroads are placing con-
tracts for equipment less literally, al
though miscellaneous orders for about
$4,000 tons of steel rails have been
distributed In the last few days. Details
will probably he reported before the end
of the week. The Erie Railroad has
ordered ten locomotives from the Ameri-
can Locomotive Company rs well as ten
from the Baldwin Locomotive Works.
The Baldwin shops AVE also taken or
ders for eight locomotives. including one
for the American Sheet aud Tin Plate
Company. one for the Lorain Steel Com
pany. we for the Chicago Gravel Com
pany. two for the Sugar Land Company
and II for the Inland Steel Company.
The Inland has also given an order for
two locomotives to the Vulcan Iron
Works. The Baldwin works also will
build one locomotive FOR the William
Cramp Sons Ship and Engine Building
Company II two for the Newburgh and
South Shore Railroad. As already noted
bids Oh ten locomotives for the Canton
Hankow Railroad will be taken by r.
W Hunt unit! next Monday.
The Pittsburg Steel Company has or.
dered forty ore cars from the STANDARD
steel Car Company. The Wabash has
ordered six postal cars, and the Chicago
Indianapolis and Western MIN cars foI
passenger service from the American
Car and Foundry Company Swift a
co... Chicago. Is reported to he building
100 refrigerator cars AT its own shops
The Nashville. Chattanooga and -. Louis
Railroad Company is In the market fui
thirty dump cars. while the Burlington
has ordered nifty dump cars from the
Western Wheeled Scraper COMPANY.
The traffic situation is still pcrplsN!ng
although the tendency is tow trd i'm
provement. The raising of the embargo
by the New Haven against freight frorr
the Pennsylvania Railroad Company j.
regarded by other Eastern ccuucctinr
lines of the New Haven As d.scgimiua.
ton against them Consequently. tho
matter was taken NJ Vigorously with
tn" New Haven officials on Monday aut
Tuesday in the hope Of having the EN-.
barge lifted generally. The Dclawar,
ana Hudson sim MAINTAINS an cmharg
against the Eric u PENNSYLVANIA. but
IL accepting freight from The I.acka.
wanna. Consequently. IL Is possible {,
make shipments Of pig iron and other
metals from eastern PENNSYLVANIA :,
points on the Boston and Maine and
BOSTON and Albany lines.
Tho PENNSYLVANIA Railroad, IN rails.
iuG It's emhnrg" against IN" Sow Haven
",,'" N'I', '"nH, '..'l'" 'u" "''
.mI Ir'',.F ,'"m',.'"N I''N me = en-
.,"' I'i''l"'' W WV '''S'H t\i'''''
w '''H'nS ". "" '.!'"'IS' 't'iuN'
New Haven last night.
In" virginia iron, coal diui Coke
C"mptnN mas prices of pig iroi
- cents per ton Tor delivery oyer the
irst quarter ami INST half If his year
ana ." cents per ton for delivery ovei
IN" second quarter. making prices fol
no N yin Al the furnace Tor all de-
INerlcs IN l"l" excepting the iourtt
quarter. The hulk of the tonnage avail
"uIe Tor Inc mrs. hdlt mas been sold.