The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-02
THE STEEL MARKET.
Railroads Anxious to Place Con.
tracts ~ Premiums,

Railroads ard railroad euuipmen,
manufacturers are now fully awake To
the necessity Of securing all ~ tho steel
mat they may need for delivery over tn.
next SIX months 10 a year. Some OF
the manufacturers of cars and lucuino.
lives are endcavorinH ~ place supple
mehtary contracts in lots Of from 5000
to 10000 tons for his years delivery.
ana are Offering premiums Of from s.
to ~ u ton. IL IL understood that one
or two contracts ~ this character are
on the poin, Of being closed. although
the mills will not exact the premium bid
II " Is possible to supply the steel.
There Is a great broad market for pig
iron throughout the country. some adj
d!tional contracts have been closed in
the Eastern territory a. we'll In the CEN
trial West and additional iarge contracts
arc under negotiation. The Eastern
slaileable Syndicate Is reported to have
closed contracts from 10000 to $1,000
tons of malleable bessemer iron. but IS
said not to have closed for it, fun re-
qulrements for delivery 20 the various
Eastern plants. sales OF small lots Of
gray FOUNDRY iron were made yesterday
~axgregatinR about 5000 tons for ship
nent before the first of July. and other
inquiries are still IN the marke, aggre-
eating $500 tons for delivery IN New
Jersey and Connecticut. quiet nego-
tiations also continue on much heavier
tonnagcs.
Bunslo furnaces have taken eome large
contracts tor delivery outside OF their usual
The larger buying ha' developed "a stronger
Tone anu prices have advanced about .Hc.
mum for '?N o. "a: . io ii n eM !. Say. ih su m,R,,
but there H. . vide range with some s.l.r
made =. high 2. 80 Icr o n ,
AfSlvhy continues In steel building WORK
With. several additional contracts placed In
the Eastern territory. Including. ~ ions Tor
On eitens'on n the plan, OF tho fremont
pany., which vii. he furnished 10y IN. Hinkle
Iron Work. 4 loft building at Newark for
ne Frs, prcsbytcrian Church ~rerqire. lloo
TO be constructed In Brooklyn requires 20,
Harris, Silver. 4 Rake. while The tmpar-
Structural Steel Company will supply ~
tsons @! steel for. the schin apar,men, or
The Inland Steel Company Il. reported 10
have sold the output OF its steel furnace.
and n',ils Tor the IrmainSier OF TINS year.
steel !pri'~s are rushing un NJ a furtous
pay and In the las, week. conditions have
a. buyers CONSIDER m. present level dan.
gerous. but some Of them had the same
view week. ago Nov the, generally pro
end Of which none can predict
1T would he easier to name products which
nave moi Dern advances IN the week than
lhos~ which have been pushed Nc under buy
ing IN many cases more urgent than ha,
get been seen Al PtisburE bessemer iron
Is dnc, to nc higher: basic iron. 10 10 90.
heavy steel scrap. nc skelp, s.: lisht rails,
s.; wire products. )? black pip, s.; Gal;
iron bars, s.: sheeta. 90 TO s.. cold ROLES,
strip steel. S. to Sio: merch Ant steel, s. TO 81:
shnitins. s.: spikes. s. TO 81
"Httshurs report. tie offering OF 10000
tons OF bars for shells. which mills have been
unable 70 consider Considerable foreign re,
have come W. for large squares
and blooms for forging But efforts OF for.
eign BUYERS have lately concentrated on barb
wire for tho second halt, and L0.aO 10 100.
200 tons In bcfUre the mile
Activity in steel making zig iron, along
With heavy buying Of steel sorsp, shows the
larger steel compani~s' need OF outside ma
tcril. One Pt'sburg interest housh' 60, ~
Of basic and ZOO tons u. uiricr in.
quiry In that market. Cincinnati sales OF
basic amounted to slWo ION. and a large
block IL PENDING there, An Indiana steel
company bought 900O tons, and IN eastern
ANA l2.GO tons was taken, while
Buffalo reports u good sized basic sale. The
has gone back TO SIS AZ valley fur.
mace after the rrc~nt easing on. and .ellers
are asking SsS ami higher In eastern
Penny v anis \ sale Of S,"S tons vas made
at 1910 at furnace"