The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-06-05
STEEL CORP'N GETS
$4,000 TON ORDER
General Motors Purchases Dig
Supply Of Large Variety
Of Products.
PRICE rs NOT ANNOUNCED
Figures Approved by Indus
trial Board Said to Be
Basis of Sale.

z
One OF the largest orders for steel
to be placed since the armistice was
signed was that Tor $4,000 tons given
to the United States steel Corporation
by the General Motors Corporation and
announced yesterday. The order, Il IL
understood. covers large variety OF
steel products. including bars, sheets.
plates. shafting. &C. Judge E. II. Gary
said yesterday afternoon that he UNDER
stood the order had been received, but
further than that he had nothing to say
regarding the transaction.
Nothing could be learned as to the
price to be paid. but It 10 understood
that the order was placed at approxi-
mately the same figures recently an
proved by the Industrial Board for ali
steel manufacturers, which Is further
evidence OF the steel markets continued
and increasing activity. according to
steel men. who express great confidence
in the future OF the industry. Mill op-
erations last week increased and there
appears TO be but little change in the
price schedule as approved by the board.
THE activity in the steel market
Gays the Tron Age, Continues in an
encouraging way without broadening TO
any marked degree. Mil operations are
on slightly Increased scale. Some
phases have been overrated, particularly
the amount Of third quarter and second
half buying. which is quite moderate.
Price irregularities continue, but the
schedule OF March 20 holds its place as
the market standard. The concessions
are In sheets. hot rolled strips. steel
bands and other lighter products,
Tn an effort to bring buyers into the
market. reports OF an expected advance
of - ton in certain finished products
have found circulation, but the manoeu-
vre seems to have excited little re-
sponse. Consumers do not miss the
fact that the improvement must meet
the test OF the summer
Export demand grows ana the bust
ness Is more dependable in contrast with
the mass OF duplicated inquiries, from
which there was relatively small result
In number Of preceding weeks. There
are signs that foreign buyers who were
waiting to get their cue from the action
Or domestic consumers are coming for
wlrd.
The blowing out Of blast furnaces
keeps up and pig iron producers are be-
glnning to point out the possibility Of
OVERRIDING curtailment, though that point
Ia not in sight. Pig iron output in May
was 2.10s.o56 tons. or es.oo2 tons a day.
against 2,47s.2is tons in April. or s2.so7
tons day. The May rate was the low
est since March. 1918, when the depres.
sion Of the early months Of the war was
marked.
Last month showed q net loss Of sew.
enteen furnaces. there being only 1876 In
blast on June l. with capacity of $500
tons a day. while 2I2 were active on
May i, producing at the rate Of 1880
tons day.
Japan is in the market for another
10000 ton lot OF rails. The last 10000
tons Of the $4,000 recently bought went
at $47 for the open -hearthcprod1ct, tndi-
eating that the $40 spread over the do
mestic price for export did not long OBJ
tain. Export business In sheets has been
good in the Pittsburg district.
Private orders for ships and several
extensive apartment house building prof.
ects. added to several thousand tons of
industrial plant buildings in the East
and long list OF structural work in the
central West. promise early expansion OF
activity in shapes and plates. Not much
bridge work Is under considera-
ton.
"In some markets there are unmls-
taxable signs of Improvement in pig iron
At Buffalo about 10000 tons have been
sold. including two round lots of basic
Tor New England. At Chicago two sec
md half contracts were for $4,000 tons
Of foundry and 5000 tono OF malleable.
Cleveland reports fair sized sales of
grades. with inquiries increas-
ing as to number and tonnages. Some
southern producers are Offering iron at
Cleveland and other points in the North
10 meet the delivered prices quoted by
Northern furnaces and competition be-
tween sections IL wiping out the uniform
prices at furnaces
Lake Superior iron ore shipments up
10 June 1 were s,301.550 tons. against
2. 0aS,101 tons in the same period last
year. The Steel Corporation has been
bringing down the bulk of the ore thus
far this season and the movement to in
dependent consumers Ia getting under
way"
no week since the armistice," says
The Iron Trade Rsvteto, has embraced
such large or diversified buying Of iron
and steel products as the seven day
period just past. Confidence plainly Is
being strengthened in virtually all
branches of consumption, and forward
are being negotiated freely. In
several lines buyers show q desire to
Engage tonnage at ruling prices to a |
more forward point than the producers
are to entertain. The railroad trade |
the weak factor and were this
cot restricted to such subnormal proper |
ions the tone OF the situation would be |
cheerful and expectant..
Some large tonnages are figuring in
current business. Foremost among these |
are the tremendous purchases for for
ward delivery by some of the automo- |
bile manufacturers. Under O transac-
ton closed late last week Steel Cor
poration mills will supply $4,000 tons
81 bars, sheets. tubes and other products
10 the General Motors Corporation"