The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-07-13
FABRICATED STEEL
BUSINESS Is SLOW
ONAA-~ NN
Traders Had Expected Activ'
ity Would Follow Signing
Of Peace Treaty.
MUCH WORK IN PROSPECT
Statement Of Untitled Orders
f, Shows Corporation Book
ing Large Tonnage.
spsc,o, DespotcA to TIE SUE.

ing Large Tonnage.
~ Special Despatch to THE sur.
P1rrsBURo, July 12.-Iron and steel
traders have been disappointed con-
cerning the slowness with which fabri-
Gated steel business is coming out. 1t
had been thought that the signing OF the
peace treaty would produce ais,nc.
wave of activity. Structural lettings
continue to be of rather limited value,
but there is a great deal OF work In
sight, the only question being as to when
contracts will actually be let. The NC
Clintic- Marshall Company has taken
assoc tons of fabricated steel work TOT
the Kelly-Sprlnefleld Tire Company OF
Cumberland. Nd. In addition 10 f'vOu ~
tons recently booked and $500 tons ror
the Brooklyn Navy Yard-in crane run
WAYS and other work. The Fort PITT
Bridge Company has taken 400 tons Tor
new buildings OF the Nordyke q MAR
mon Company of indianapolis.
The United States Steel Corporations
statement of untitled obligations nj the
end of June constituted practicaily the
sdrst notice to the steel trade that the
acorporation is booking contract tonnage
IN a large scale. In common with other
steel producers It had been receiving
more shipping orders. and, no oouot'
heavier specifications against contracts
THE orders probably came from the cor
sporation's largest customers, with whom
III had closest relations and whicn re
aouently place contracts for six months OF
Yonger Such business usually Is not
reported in tho open market. Shipments
sof the organization for June are esti-
mated ut 60 per cent. of capacity against
IS per cent. In May. The gain IN uh-
sAl,ed obligations was equal to ~ pes
cent of capacity and the bookings wouio
be their sum, or 112 per cent OF capaclty.
There Is a very light demand FOR plates
i<bis week and the mills are rolling much
Hess tonnage of ship plates than the cur
srent consumption as stocks accumulated
S.Iurin1 tho war as a safeguard are SUN
mating worked of Freight car building
has been disappointing and there nave
sbeen practically no new orders booked III
1.-THE last several months
Tank Plate Demand Is Moderate.
Very little Is heard In export ordering
of cars but there is q moderate oeinanu
Efor tank plates. The market Is Quotaole
t.ti,, on the basis Of 2.35 cents for tank
Mate. but 1t is reported that there is
Saome shading by the smaller mills, say
about $3.50 ton -,
: In iron and steel scrap. a sale OF
heavy melting steel was made at sSo,
delivered in the Pittsburg DISTRICT Out
# Is not regarded as generally repre-
tentative of the market, which is nearer
sic 90 as selling price In mill lots, and
dealers would be glad to pick up odd
Iote AT s1e, The market is quoted AT
$40 to $3.50, against $3.50 TO SlS.to
last week. The mills are showing con-
siderable interest IN the market, OUT
probably not as much as they did Two
or three weeks ago, according TO dealers
who have been looking for relatively
ouiet conditions in July. The Pennsyl-
vania Railroad Company scrap, just let'
brought better prices than those OF a
month earlier, all the heavy melting
steel being understood to have gone at
$50 and higher at points along the line
Demand for plain wire has been I'M
proving and is now OF fairly satisfac-
tory proportions. There is good de-
mand for wire nails and the wire mills
expect to operate their nail departments
Mt capacity during the next two OF
three months II jobbers and other buy
ers specify in accordance with their con-
tracts Prices for wire products are
firm all along the line. The definite pre-
dictions of an advance, common few
weeks ago, have disappeared. chiefly be-
cause It Is understood that the leading
producer is averse to the making OF
any price changes.
Heavy Foreign Call for Tin Plate
There has been an Increase in the
demand for tin plate for export. and
this business Is approaching its wal
time PROPORTIONS The average monthly
exports of 1916. 1917 and 1913. were
$4,000 gross tons and the movement was
fairly uniform throughout the three
years. Tin plate prices are maintained
strictly in the domestic market on the
basis of 81. Pittsburg. for 100 pound
.cokes, but there have been reports OF
slight shading In the export market
Mills are accepting contracts on the 81
basis for the second half of the year. but
the major portion OF the business booked
OF late has been in the form OF actual
orders.
Speaking OF pig iron most of the mer
chant furnaces In blast are sold up prac
tically to the end of the year as result
of the buying OF the last few weeks
Demand has quieted down this week. al
though there Is still considerable inter
est In the market. Furnace interests
well sold up, have not withdrawn from
the market entirely as they have still
little margin in prospect, as buyer
usually cover in full, and liberia
, sprinkling Of them generally have occa
sion to ask for postponement Such ca
pacity as might still be epared, however
In reserved for regular customers. Pric
Irregularities have practically disap
peared and II Is now known that the.
arose chiefly from competition between
districts. Tho valley market Is quot
able firm at March 81 prices. For Pitts
burg delivery II Is only occasionally tina
tho valley equivalent can be shaded. Sew
eral furnaces outside OF the valleys, tina
usually cater to Plttsburg trade, are GU
of blast
With the Independence Day holida
and other celebrations In the Councils
vile region left behind. the spot furnac
coke market unexpectedly has yielde
somewhat Small aales of spot COX
have been made this week at 81, Al
though s4.25 is still the asking price c
many producers, and II Is possible tina
that price. or at least considerably NOR
than -, must be paid for round tonnag,
There Is very little free coke offered |
the market, but there are prospects {
larger offerings next week. The spc
market IS quoted at - to $4.25. agains
s4-f5, obtaining as minimum throughol
last week. AS to the future OF the COX
trade. there is no reason to suspect ths
somewhat too many ovens are gettin
1nto blast, but II Is learned that one G
two idle furnaces that would have to blu
Connellsville coke are likely to get int
blast, which will balance the increase
production.
rEanAnu1n UT SyyxYy xrxrnHaxx