Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-12-27
END OF YEAR
FINDS TRADE
IN STEEL DULL
Orders Held Up TO EyaGe War
Tax on Freight Rates
Outlook Is Bright.


PITTSBURGH. Pa. Dec. -7.-Tuc final
week OF the year in thc lion ana steel
trade viii be ono Of tie dulie~t for
long time. Operations ~ mills were
reduced gradually over the last week,
droppia-- from - per cent hE the Steel
Corporation and - per cent by On" m
dependents. iu the early part OF the Week.
to d general average 81 80 per cei5. Joy
the close Many mills that have been
operating VIII suspend for repairs I'm
inventories AID blast furnaces connected
with these steel mills viii, ia many
cases. be banked.
Euvin.s has been lighter over the week
and i not expected 20 begin uLtlt
January and possibly only On gradual
way at that time. although continued
.rr9duaI increase is expected up until DID
the spring, when the trade Il eNpecle1
TO have attained a very eouli'l ''''~
TN buying Of the present is entirely
restricted 10 material abs 5lutely needeu;
Euvers are asking for the Aoid-Up %
shipments unth after jan 81 ,,Igi,t
the war taX on freight >leel pi,iiL
rc+fvf-f = naturally reflect the SnallrI
volume uf business and deliveries. m
tnarket does NOT reflect great zeal o.
interest on the part Of buyers III tA'-i
e1rIv 1912 requirements AT present
There have been few changes ln prices
brr tba buving trade is not satisfied thai
il has reached the minimum. Ne3l hFiH-
ness Is apparent il sheets, "hitA arr
holding rigfdIy 10 the bases announced
bv the American Shot and Tin rate
Tbc fin plate market seems to have
frmed mn again after brief period. dur
ing which some makers took business az
below the regular quotation q St-tJ- 'pH-
siderable uncertainty exists IN the mar
ket for wire products. due To the laci
that some mills outside the ,PllisburSh
district have been accepting business on
\ mill rather than q Pittsburgh base
Prices Of pig iron have dropped fur
Their some basic having sold at SlN.Jp
and foundry at $3.50. These sales were
for immediate delivery. and are not an
index as to the price of forward deliver
les
Railroad work is expected to he the
largest tonnage taken by steel mills over
the first quarters Of the New Year. 1t Is
expected that about 2.00000O tons OF rails
will 90 on books with the necessary
track accessories and a great amount Of
ears and other material. The Great
Northern Railroad has issued an addi-
tiOnal inquiry for 600 stock cars. The
Illinois Central and Burlington inquiries
aggregating $500 cars. may be placed
this week. The Chesapeake & Ohio has
asked for prices on COO hopper cars.
The New York Central Railroad con-
templates purchasing 1000 box cars. The
H. G. Frick Coke Company is inquiring
for repairs on 200 cars. The Baltimore
& Ohio Railroad bought 1000 hopper
car bodies of fifty-five ton capacity. The
Illinois Central probably will place 1000
gondOlas in short time, and is inquirinS
for 800 additional. The Northern Pacific
is inquiring for 1900 center frames for
gOndOlas. The Union Pacific Railroad is
inquiring for 800 box cars of hfty-tOn
capacity. and has Il farther inquiry for
automobile and refrigerator cars, which
is expected to come out shortly.
Despite the decline in the last part Of
December. the statement Of the Steel
Corporation for this month may show
an increase, as the corporation almost
broke even in November between ship
ment and bookings, and the December
shipments will probably he lighter, while
the bookings should be heavier. Early
in the year, the corporations shipments
were almost entirely against old con-
tracts, but in the last two or three
months the shipments have been largely
against new orders.-COpyright, 1921, by
Public Ledger Company.