The Washington herald., 1921-02-23
STEEL INDUSTRY
CONTINUES Dull
DESPITE CUTS
Buyers Exercise Caution.
Independents Plan to
Meet Rivals.
RAIL ORDERS SLIGHT
Largest Call for Equipment
During Week Reported
From India.
Dpscial 10 Businsss ssetisn Of rhs vssh-
inxtsn Hsrald.l

Dpscial 10 Businsss ssetisn Of rhs wash-
inxton Herald.)
PITTSBURGH. Feb. 2f.-Despite
bome drastic cutting Of prices In
Iron and steel products the situation
ts little changed Buyers are eau
tious. although still lower prices
haye been made. fabricating steel.
Tor example, having been priced as
bow as sli5. while in pigiron de-
Relopment that is taken as favor
able one Is the buying of pigiron
for speculation. the first for several
gears. Some independent companies
have not openly cut prices. but have
notified their customers that they
Eill meet prices made by other COM
panies.
Merchant steel bars sales have
been reported at s2.1o and s2.so, al
though the Industrial board price is
B7Lss. Plates. which for several
weeks have been available at 50
ton under the Industrial board price
of sass. have lately sold at a IS re-
ression and lower prices could
.noubtiess be obtained. Concessions
ipf 50 a ton on blue annealed ana
black and galvanized sheets are
mentioned and deeper cuts are ex-
pected. One producer Is understood
20 be Offering wire nails at $3.lO.
while other wire products have been
offered at cuts up to IS ton.
Sheets have quoted about the same
and some small reductions have
been made In tubular goods.
Basic Price steadied.
About 10000 tons of basic iron
have been purchased by brokerage
interests for a rise. the first specu-
Iatfvs buying for months. The
price situation has been somewhat
startled by the action Of q promi-
nent producing interest. which has
reduced its asking price from $5V
10 $3.50, Valley The same inter-
est has reduced its asking price on
Bessemer iron from $50 to S2s,
Valley.
As to foundry iron. this grade has
been altogether inactive, and the
: Did Quotation of s2s Valley may be
repeated. Another IS a ton reduc-
= tiou hss~been made onsohjo silverr
IRON and Bessemer ferro-silicon.
The new prices are $3.50 for per
cent silvery and ss3 for lO per
n eent Bessemer ferro-sliicon- This
Il a si7-a-ton decline FROM the high
prices that prevailed last year.
Railroad buying remains at
Very low ebb, but an active new
4 Inquiry includes 500 cars for In
Iia. The Union Pacific has bought
40 900 kegs of spikes, 10000 ions
N rails and 5000 tons of fasten-
hrs. and the Chicago and Eastern
Illinois has ordered 1880 toss Of
rails. The Huntington and Broad
ron Mountain Railroad has placed
zoo tons of rails with the Mdvale
steei and Ordnance Company, The
Erie Is in the market for 5000 to
1000 kegs of spikes. and tn, Vir-
rtnix Railroad has ordered 5000
Ton. of rails from the Cernegie
s,eeI Company. Orders foy $1,000
hons of rails have been placed by
troc- switch and crossing nanufac-
hfrers. Light rails have declined
b y2-7s and 81.
business remains light In heayie.
rolled forms, only small ltonnages
coming out in plate and thapes at
NE low prices made. On one SEQ
ton lot Of ordinary plates six inde-
pendent mills quoted s1-sa or lower
ORDERS ranging from SO u 100 tons
have been placed at s2.io. and IN
pne instance an order fot this size
J gas taken by a mill at e.4o.
Building Expansion Due.
Inquiries made regarding costs of
building construction Indicate to
fabricators and structural steel COM
panies tEat q fair volume of spring
building Is in sight Tie Bethle-
hem Steel Bridge Corpoiation has
heen awarded the contr,ct for a
crane company, at the Rrooklyn
Navy Yard. ITO tons; thf Roches-
Ter Bridge Company will fabricate
goo tons for additions to the plant
OF the Mutual Enamelwlre Com
panv, Chattanooga. Tenn: ihe Lack.
awanna Bridge Company received
fhe contract for 100 tons of work
for the N. W. Kellogg Company
Jersey City; the New York Doci
Company has taken bids IN three
ear foats totaIing about 100 tons
In virtually every line of I'm.
fshed production new 10y prices
have been quoted. from s to s1l
selow the United States Seel Cor.
poration prices