The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-10-20
LAKE ORES VILE
ADVANCE IN PRICE
DOLLAR PER TON
On Account of Increased
Freight Rates and Costs
This Seems Assured.
Stronger in South
By "Hop"


Cleveland, October 19.-(Special.) 1.-The
Iron Trade Review today said:
Heavy reservations of iron ore have
been made, and although no actual sales
have been reported, the sentiment has
been rapidly crystallizing, and it seems
assured that there will be advance of
at least 81 per ton over this years price.
There is very strong likelihood of the
ore carrying rate from the head of the
lakes being advanced so cents and ore
men feel that owing to this advance and
increased costs, an advance of 81 on ore
Will be reasonable.
Buyers have made reservations freely
for ore to be taken at the prevailing
price, and several firms have recorded
reservations of virtually all of their high
grade ores. A buying movement may be
started at any moment. Owing to coke
shortage and inability to obtain cars for
the delivery of pig iron, blast furnaces
have been operating under unusual DIFF
ficulties, but selling continues at a
lively rate and advancing quotations
seem to have little if any, effect in re-
straining buyers.
FREIGHT RATE HIGH
While the alarm caused by the opera
tions of the German submarine has SUBJ
increase in insurance rates. The freight
on pig iron to Italy now ranges from $50
to $S3, while to French ports it is $23 to
$25, but active buying for export contin-
ues. Holland continues in the market
and has purchased 1900 tons additional
of foundry iron, largely Alabama grades
at SIS to $3.50. The United States Cast
Iron Pipe and Foundry company has pur-
chased 10000 tons, largely southern iron,
or,6 ha mol of iS "
stronger.
The disappearance of the low quotations
in the south has had a decided influence
in the north. where the upward tendency
is marked. The Bethlehem Steel company
has purchased 10000 tons of Bessemer
from a Pennsylvania furnace, and con-
tinues in. the market for an additional
tonnage. The United States Steel com
pany on Canton, o.. has closed for 5000
tons of basic. A Pennsylvania furnace
has sold 10000 tons of Bessemer to a
broker for export. The American Steel
and Wire company and independent
manufacturers have advanced prices of
wire products 81 per ton. This advance
has been expected for several weeks, and
Specifications against contracts have been
very heavy. The last previous advance
was 81 early in August.
SHIPBUILDERS CURTAIL
Pressure for delivery of shapes and
plates is greater than ever, and mills
are having very serious trouble in salts
flying customers. Some shipbuilding con-
Germs have been compelled to curtail
their operations on account of inability
to obtain delivery of steel. On marine
boiler steel, from to 10 cents per pound
is oeing quoted.
Although the American Sheet and Tin
Plate company announced a quotation of
$575 PER base box Of tin plate, leading
independent manufacturers are adhering
to quotation of Sc. Following the re-
cent very heavy increase in demand for
sheets fer export, domestic demand has
grown much heavier, and sheet manufac-
tllrers now have an unprecedented vol.
ume of business on their books Prices
are about 81 per ton higher on. most
cages Sales of Connellsville furnace
coke have been made at as high as IS
for prompt delivery and a quotation of
Sc is expected. A limited supply of la
Dor, shortage of cars and increased de-
mand for fuel are responsible for the
rapid advance in quotations.