The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-04-06
THE STEEL MARKET.
Contracts for 10000 Toas More 81
Rams Placed.

II Ia now clearly evident why the
railroads are rushing to place contracts
for rails. Additional orders for. 10000
tons have been taken by tho mills for
domestic shipment, as noted in detail
elsewhere. and 10000 ons are still un-
der negotiation for 1917 shipment.
Light rails have been advanced 81 a
ton after additional sales OF about 5000
tons. Light gauge sheets and railroad
spikes are up 50 a ton.
The Panama Canal Commission re-
ce'ved tenders March 81 on about 500
toni Of cast iron pipe for delivery at
Colon. Panama. The American Cast
Iron Pipe Company WAS the lowest bid
der. tho price offered being S~12.572.3s.
The United states Cast Iron Pipe and
Foundry Company also submitted prices
for delivery at New York and New Or
leans. as well as for delivery At Colon.
The contract win include 5000 feet Of
8 inch. 5000 feet OF 3 inch, 5000 feet
Of 10 inch and 1000 feet Of IL Inch
pipe. shipments 90 he made in thirty
to forty-fve days.
Yesterday cast iron pipe mauufac-
'urers advanced prices 81 a ton to $50. so
a ton for 4 inch and $3.50 a ton for
4 inch. {. a b. New York. These prices
arc equivalent to 32s a ton for IS and
sag a ton for 4 inch pipe at Eastern
shops OF the largest interests.
The city Of Hartford. Conn. received bids
March 20 on 1856 tons Of s to 20 inch cast
Iron pipe. r. D, Wood 4 Co. Receivers sub.
mitted the lowest tender. which was si 10 per
iSsh ' ond 20 Y" s : ,ns ,on s dsi;9. per tor ton i, so r. = . TO- az Z
rip
The New York Department Of ws,er Sup.
April : on So tons Of 8 to 20 inch cast iron
pine. On April I. Jacksonville. Fla. viii take
bids on 80 tons Of 10 :. inch pipe and bids
p,pe for delivery .. e coiumSia. sc |" '"'n
Contracts were placed yesterday for about
800 tons OF foundry pig iron in the Eastern
shipment beginning at once and to run over
the balance of the year. Another lot Of zoo
tons Of foundry coke iron and 80 tons Of
~necticit over the last half Of the year. An.
other lot Of SOD tons and several smaller lots
for prompt shipment were placed under con.
tract for New York state shipment. The New
York Air Brake Company 10 reported In the
market Tor ..@D tone for delivery over the lac,
half Of this year. Another inquiry 10 for 800
cry. There are also negotiations on round
,onnases for Eastern delivery. sssresatins
about .D,oO tons
March brought che production ~ American
iron aud steel to new and astonishing figures.
90 that the rate for pis iron Is nov practically
to 100000 tons Al the same time mills
made no hesdway IN March in liking
orders; some o. them fell further behind
There has heen q growing sentiment that
more stringent rail Specifications would in
time hnns higher price,. and independent rail
manufacturers are not likely 10 be behind
hand IN putting rails In closer relstionshi p
10 the general steel m8ket. u IL nov nearly
= gear since the railroads were advised OF the
danger of overtaying their market.
Pig iron buying has been less. a. was iuii.
Gated q fortnight ago. Prices have been
stronger In some diWricte, but 1T Pittrburg
those for steel making iron are ri . standstill.
and Southern iron has been offered II lower
prse in the Chicago district. Alabama pig
IRON stocks ihcrcAsed about. 5000 tons IN
March. afe AZ increase Of 5000 tons in
further inquiries for steel for export, includ.
ing $1,000 tons, chiefly billes and blooms for
priced.
Pig iron production in March vas s.s7, sel
tens. against sos az tons In February"