The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-25
STEEL MILLS KEPT
i BUSY ON EXPORTS
Lower Shipping Rates Help
Foreign Buying-DOmcs-
tic Orders Fall OFF.
RAILROADS IN MARKET


Il 10 estimated. have decreased approx
mately 20 per cent. compared with the
tonnage placed under contract in April.
Export business. however. has been en-
courastns. and in great measure foreign
buying has compensated for the smaller
contracts closed with home buyers. TIL
net decrease In new business, derived
from all sources. nus far In May has
probably been Is per cent.
On The other hand there has been
some Increase in output OF rolled steel
This month, which indicates larger ship
ments o n contracts as compared with
April. Because Of these changes It Is
estimated that the United States Steel
Corporation will show a gain Of about
100. 900 tons In untitled tonnage this
month, against increases ranging from
500. 900 to nearly SOC. 900 tons per month
during The preceding three months.
Contracts for high explosive shells for
the allied Governments lat have been
under negotiation for two weeks are
slow IN closing. One or two small Or
ders. however. seem to have been placed.
~ The manufacturer have exercised OPP
tons on moderate tonnages OF round
steel bars. including one lot OF about
5000 tons. said to have been taken by a
manufacturer in Newark. There Is also
rrumor that another contract for more
than 5000 tons has been closed for this
years delivery. The large shell con-
tracts are expected to be closed within
ths next day or two.
The italian Government Is reported TO
have purchased 10000 tons Of three inch
bars from a steel mill in the central
Wat and anpfher contract for ~ nm
ton Of large billets Is said TO have
been taken by French mills. The sale of
e1bell forgingS to the British Government.
previously reported. IL now placed at
zoe. 900 TONS. Instead Of 10000 tons seld
BY the United states Steel Corporation.
1t % unusually difficult to trace all the
orders, which fact gives rise TO the be-
lief that Implications are exaggeratinS
the tonnage actually closed. one large
French interest is still negotiating for
$50. 900 tons. and still another foreign
buyer wants 100.o 900 tons OF steel, in
Guiding blooms. forgings. billets and
bars. The Russian Government is re-
ported to ave closed another contract
Tor rifles with a domestic interest.
In connection with foreign munition
orders there are reports that some home
manufacturers who have taken sub-con-
tracts for shells and have fallen behind
In shipments are Offering to resell the
steel bars which they rave accumulated
over present requirements. Several lots
OF 5000 to 10000 tons OF this kind Of
steel are offered for early delivery, but 1t
70 SAT- that few of the large steel COM
papies have heavy tohnages OF steel to
oner for this years delivery. which in
part Is responsible for the delay In clos
Ing contracts for high explosive shells.
II Is ar interesting fact that exporters
and dealers are finding less difficulty in
placing orders for commercial forms OF
steel for shipment abroad in the next
Few months than at any previous time
this year This is partly due to the re.
assuring fact that more steamships are
available and that ocean freight rates
have receded appreciably in tho last
three or -four weeks.
At tho time of greatest shipping
~stringency as high as $40 a ton was de-
mande for steel to be carried to various
European ports. To-day the rate has
receded to about SIS a ton. This applies
on shipments to the United Kingdom and
TO the Mediterranean. Freight rates TO
Scandinavia are still relatively high.
Sales OF "A few thousand ton lots OF
plates. shapes. tubular goods and skelp
are more frequent for shipment to
Europe and orders for the Far East are
not i%nfrequent. The latter Include tin
plate.
Railroads In the central West nave
placed miscellaneous contracts aggre-
eating about % 600 tons for standard
section rails for delivery during the
summer Of 1917. Supplementary orders
have also been placed In the Eastern
territory. probably aegregating 6.00U
TONS Tho cumberland t.l1.y has pla.,l
one order with the Stcelton mill and
Southern roads have closed for addi.
tional small lots to be rolled at the
6parrows Point mill.
Export Inquiries for locomotives.
mainly for Russia. involve the need Of
about 100, 900 tons of steel. The Ameri-
can Locomotive Company is reported to
have secured contracts for thirty-hve
locomotives. including twenty-five for
the Chesapeake and Ohio Railroad and
ten for the Denver and Rio Grande
Company. The Baldwin works will also
build twenty-five locomotives for the
Chesapeake and Ohio. The Lima Loco
motive Corporation Is to build two en-
gines for the Intermountain Railroad
Company. two for the United Steel Com
pany of Canton. o.. one for the Phoenix
Logging Company and one for the Cherry
River Boom and Lumber Company.
Tho General Leather Company has
placed with the Hay Foundry and Iron
Company an order for a factory build-
ing to be constructed at Newark, call
ing for 500 tons OF structural steel.
Sears. Roebuck & Co. Of Chicago have
given to Hansel a Elcock a contract for
SIS tons Of fabricated steel for annex
A. Tho Norton Hotel, to be constructed
at Detroit, requires SEQ tons OF struc-
tural steel, the order for which has
been placed with Whitehead e. Kales.
IT Is understood that the steel contract
for the Carpenter apartment building in
New York. requiring l,4O0 to 1900 tons
OF steel. will be placed in the next few
dayG
The Pennsylvania and Lehigh railroad
companies. Upon being notified by the
New Haven railroad that general em-
bargoes had been removed against ship
ments TO consumers OF iron and steel,
coal and COX In New England, have
automatically raised embargoes against
the New Haven. with the exception OF
plants designated specifically.
Tho easier tone that has been evident
In foundry pig iron In the last few weeks
h reflected In small buying by consum-
ers In all Distributing districts. The Re-
public Iron and Steel Company Is re-
ported TO have bought 80, 900 tons of
steel making iron. half bessemer. half
basic. In the Eastern territory nearly