The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-06-15
IRON AND STEEL MARKETS.
Railroads Placing Orders for shop
Euutpmrvt,

Railroads have placed structural steel
orders. mainly for bridges. since January
! ~acgregating nearly 100 600 tons, which
tonnage Is almost double tho orders
placed during the corresponding time last
year. but OF the total orders taken by
the fahricating shops in the last i've
months the railroads arc responsible
for less than 10 per cent. In normal
times railroad bridge work Is NJ least
% per cent. of the total fabricated ton
maze placed. Several Eastern railroads,
including the Baltimore and Ohio, ave
placed fair orders for machine tool
and other shop equipment Tho en-.
cago and Northwestern, Grand Trunk.
Michigan Central and several other
roads are also distributing machinery
orders. some OF which have come East.
Shipyards also are closing contracts
for machinery equipment. including the
Sun Shipbuilding Company and the
Pennsylvania shipbuilding Company.
For rolled steel new orders are small
on domestic account. but some large for
clgn inquiries. following tho recent or
ders for billets ard wire. are still In
the market.
Pg iron IL dull generally. but a little moro
interest In evident on home account. with
about 20. non tons basic and foundry grades
still pending. Buying on foreign account ~
SUI inc most interesting feature 'n'takO
has sold 800 tons hessemer to Italy. making
total purchases In the week. Fact and West,
about 10000 tons for shipment TO the Meditef
ranean.
The Iron 80. says little or no concern
IL vet shown over the stability Of present
hish prices. Manufacturing consumers with
stocks vt hand aud maternal still com'ng IN
under contracts much below present market
prices have been making concession OF ihoir
products to secure a turnover, following some
recent ind1Catl unz OF Bn easier situation ~
mill sales With contracts eNpirin. TINS
month the surface nipples may have uo wide
effect. particularly Ne u renewal OF cNrnrt III
curry Of Iar.r proportions has developed For
ct.u buying ~ much encouraged 10y the sharT
reductions u ocean froieht rates, 81 ~ IN an,
even over a' per cont from recent tarins. hut
it t. ~ great variety and from all quarters
OF tho tlubc
TIT tittus ~ pressure NJ domestic huv
iug, continuous for 80 mduN months. tends u
rNaeEcratc tho comparative lull IN now buy
iug Mile are not urging p~urcha-7s - prrs
en- obligations involve far irtlr" operations
most Of them hold that thcr, l. 40 adVant,s'
H. taking ou commitments ui uncertain value
Russia looms important IA ior'i- % demand
I Already TN" indications are mat ih' ~i''
! Corporation - 80 supply 10000 90 Hh'"N ton
Of a total ~ 1901 o tons OF s-ig pound rails
WITHIN two or three weeks upward ut 800
ears vii probably I've bought here, ARRANGE
mcnis for a Russian loan having bean Der
teCicd
Enough plates IN huild several shins ma,
been bought NJ - Piitshurs for shipmeut :
Japan IN tho fourth quarter Of this wear an
The hrst Of u"xt and Vet Cleveland report
boiler maher- a. allowing cancellation a
plates UNDER contracts AZ much loss than -
iu. prlHes A. another contrast Is q bottle
steel contract ~ over l.Vo tons clcsNd for IA
tpUfth quarter - g.