New Britain herald., 1917-04-19
Financial
Steel and Pig
 Iron Markets

l Iron Markets
 The Iron Age says:
 The steel trade is looking more closely into the influences the war sit- uation has set in motion, that will hold prices in check. The ultimate re- suit Of the concessions made to the government is being considered: also the effect. of the fixing by the govern ment of prices on certain contracts which mean loss to those who take them unless they can get steel prod- ucts at less than today's prices.
 The market itself has given no sign in the past week of turning away from the long round of price advahces Do- mestic buying in some lines is less than in March and buyers are showing their perplexity. But most forms of steel are just as difficult to get and there is the unknown factor of the extent to which consumers in ordin- ary channels must stand aside for tho wants of the governmtnt and its allies.
 An advance of $6 per ton on wire products by a leading independent company, one of ten to fifteen per cent. in nuts and bolts, and some raising of scrap prices at Chicago. while at Pittsburgh heavy melting steel has declined $2 to s per ton, are the weeks main changes in prices.
 The leading wire producer has been indisposed to go beyond the prices made by the $4 advance of March 5 and has not yet done so. Tn some other. lines. however, Steel Corporation ad- vances have heretofore come closely on the heels of those made by inde- pendents.
 The variations in prices asked by different manufacturers and by the same manufacturer to different buy CTS or classes of buyers are more striking on the present high levels. Buyers are making the most of any connection they may have with gov ernme11t contract to get special treat ment, in deliveries or prices or both. Producers are expediting shipment of
 material for government work, taking pains to sift out the exact tonnage to be so applied, but are not yet respon-, sive to appeals for lower prices to private works, seeing that in nearly every case another buyer stands ready to pay more. In some cases where shell steel is involved the government will do the buying, the munitions plant ConceTHlHg ltselI OHly wlIl tHe HHASiA- ing.
 Government influence is being ex- erted to hurry deliveries to the En- tente Allies and the request has been made that their wants have prece- dence over those of the government itself.
 A late> move by the Ford Motor company throws sheet market condi- tions into strong relief. This com pany has bought a total of 5000 tons of sheet bars in the past week and has arranged with a mill to roll these into sheets to supply its plant. Sheet mills which also produce tin plates are putting steel into the latter under government urging that canners be especially looked after. and the result is tightening sheet market. As high as Sc has been paid for No. 2S galvanized sheets. Contract tin plates sell easily at $S per box and $9 has been paid for 1,00O-box lots.
 Rails are again active. Two lots for France of 10000 tons each have been taken for rolling in the fourth quarter of 1918. Italy has bought 15,00O tons. The Northern Pacific placed 10000 tons for the last quarter of next year and from other lines in- quiry for several hundred thousand tons has come up, largely for deliv- cry late in 1918 and early in 1919. Chicago mills alone have 165,000 tons before them.
 Some substitutions may yet be made on foreign contracts for shell steel placed last year. On two orders, for 10000 tons and 25,O00 tons month respectively, placed in the Central West, it is intimated that some plates, structural shapes or bars may be taken, indicating a beginning of calcu- lations on the ending of the war.
 Government buying is a factor in structural lines, the weeks contracts including 5000 tons for a crane rum way at Norfolk, 5000 tons for a gov ernment gun shop and $500 tons for machine shops at League Island Navy Yard. The structural business closed in March represented 6S per cent. of capacity or at the rate of 122,5O0 tons per month. making the first quarter of the year about 20 per cent. below the first quarter of 1916.
 Japan with difficulty has secured | 4,OO0 tons of ship plates for this year, paying 2 1-4c to Sc, and has also taken 1,5O0 tons of shapes. Italy is in the market for 5000 tons of an- healed wire.
 A further advance of $5 in cast-iron pipe is announced this week.
 The pig-iron advance has halted whether for long remains to be seen. An Eastern steel company has taken 12,0OO tons of Bessemer iron at $40 at furnace, though SAP at Valley fur mace has been paid in the Central West. For third-quarter delivery 1S s. 900 tons of basic iron has been bought in northern Ohio at $40.50. delivered, 10000 tons coming from Chicago.
 Some resale foundry iron has held prices in check in one or two North ern markets. Of the Southern accu-