Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1921-01-15
Buying OF STEEL
IS AT Low MARK
No Improvement for Next Three
or Four Months, Say Lead
ing Authorities

New York, Jan. 15.--Although some
of the leading steel men Of the country
believe that conditions will improve
within three or four months, IL cannot
he said that there has been any increase
IN demand for steel products during
the past week. If ANYTHING. there has
actually been further falling off in
hnving. which is. hcing fclt to great
ovtont bv the independent companies
which did not have large orders on their
hooks Mt the beginning of the year.
There has hecn some huvinc by the
railroads. Orders for steel rails have
"Nntinrcd on fair scale. The Carnegie
steel Co. has taken contracts for 40
oo0 tons from the Norfolk and Western.
- 900 tons from the Baltimore and
ohio and 5000 tons from the Buffalo.
Rochester and Pittsburgh. In addition
many other smaller roads have placed
contracts. making the aggregate for all
'hc business rather imnosing.
Track accessories also have been pur-
chased in large quantities Ms many Of
'hc rnnd which recently ordered rails are
not nIacing contracts for the other ne
cCssitics. The largest order wos one for
~ OnN IONS of tie plates and 5000 tons
of railway spikes placed bv the Union
Pacific with the Illinois Steel Co.
Indications are that equipment or
dcrS also will increase for a time mt
.rnst. Many railroads are in the mar
ket for cars and engines and the makers
are now making prices on the inquiries.
i@ known that the Baldwin I.ocomo-
tive Works is bidding on an INQUIRY for
%i"tv locomotives for the Southern
Railway. The Louisville and Nashville
'9 contemplating the construction of
fiftr engines at its own shops.
Pig iron continues unusually dull and
the indications are that prices will go
'owcr. as Il result Of competition from
abroad. a sale of moderate tonnage
Of No. ! pig iron is reported to have
been made in the local market from re-
sale stocks ut $50 per ton. and foundry
pig iron is being offered bv n producer
as low as $50 per ton. However. not
all producers are willing to press the
material fr sale at present.
Production of pig iron is materially
curtailed. In the Fast only twelve of
the fifty merchant furnaces are operat-
ing at present. An important factor re =
Gently has been offerings of pig iron
from Belgium on a grade equivalent to
10 to 2.T5 silicon iron in this country
at S37 per ton, C. |. f.. Havana. Cuba.
Another Belgian maker is said to have
Offered to sell a cargo of foundry iron
at slightly under S91 per ton, {. /. f.,
Atlantic mort. without getting buyer.
There is practically nothing doing in
fcrro- manganese. Producers are not
offering the material merely because
there is no possibility for them to sue
ccssfully compete with resalcs which
have been made as low as 500 per ton,
and some observers believe that even
this low figure could be shaded. Only
last summer sales were reported as
high as $3.50 and S275 per ton.
Production Of fcrro- manganese in this
country. which reached such a high
tonnage during tho war. has now settled
to it's lowest point in years. At present
only two merchant furnaces are operat-
ing in the East, and one of these is ex-
Dccted to be blown out in the next week
or two. The only redoPming feature is
that the English makers who compete
for business in this country also are
without demand and are curtailing their
operations.
A report that an exchange is pending
locally involving 200.00 tons Of prod :
uCtS cannot be confirmed. The report
had it that pig iron and scrap would
be offered certain mills in exchange for
finished steel products which are being
carried in stock. and value of about
$40 100000 was placed on the trans
action.