The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-24

while a third Is Offering TO cut quota
tons Of other Independents 81 ton. A
large Independent maker OF plates now
quotes the level OF 1926 cents Pittsburg
on sheared and universal tonnages.
making reduction of So ton from its
former price of $50 cents.
Dulness reigns in the market and
new business is extremely light. Mills
are looking for new tonnages while OBJ
Grating at a very light rate. They APP
pear to have cleaned up their stocks
and practically to have completed ship
ments against contracts. Car builders
are taking small tonnages for repair
work only and not for new equipment,
although there has been a little railroad
buying, the most notable order being
that of the Wheeling and Lake Erie for
5000 cars. In view of the lightened
condition of the order books, most OF the
mills are in a position to make practi
cally prompt delivery Of plates on at
tractive lots.
The market for merchant steel bars
has developed an easier tone. showing
little difference in that respect from all
other lines of the trade, and II Is said
that there have been few offerings this
week at $50 cents in contrast to the
general quotation of 3.25 cents. There
has been n slackening of demand and an
and suspensions notwithstanding the
claim Of makers that II involves small
tonnages. The agricultural implement
] makers are still out of the market,
awaiting the probable drop in prices.
| Makers of steel bars are well committed.
although not so heavily as In the last
few weeks, but a few are covered for
the remainder OF the year and for the
/ first two months OF next year, the longer
/ na1i haf for cd
/ ALLEGATIONS for wire and wire prod
Gcts are being taken by regul GUS
| toners from an Independent maker in
4 this district in accordance with the policy
recently adopted by that mill TO dis
tribute business. and the alotments,
which will run well into the first quar-
ter of next year, are being taken at the
convenience OF the maker. One interest
is taking business and promising deliv-
cries In four or five months for wire
end nails. Cancellations and suspen-
slons are coming to The mills, but the
demand Is still good although not &c
lnsistent az formerly, and jobbers are
| endeavoring 20 replenish their stocks
The labor situation has improved and
operations of wire mills have increased
slightly.
There has been n falling off In demand
for tlnplate and request for deliveries
are less insistent. but the producers are
well committed. some OF them through
the first quarter OF 1921. giving them q
strong position, the market not having
developed any actual weakening. IL Is
quoted from 81 a base box. the price OF
tho leading interest, up TO $3.50. The
undcrtone Of the market. from the stand.
point of the independents. however. IL
easier. and considerable interest is beine
manifested In what their prices Will be-
for the first half of next year. but they
are not expected TO take any action
along that line until the leading Interest
shall announce its prices for such bust
ness when II opens It's books about tho
middle Of November. Operations OF thu
whole tlnplate industry are estimated at
about IS per cent, but some mills com.
nlain OF n shortage of cars and also Of
a shortage OF steel bars. Deliveries OF