The New York herald., 1922-06-25
Rail Buying Inactive.

There is some doubt in the minds of
the traders as to whether steel rails
would be sold more generally IL the
market price were 1c. instead of 1.50c.,
base Pittsburgh While the full spread
of the market is 150c. to 1.60c., this
,roduct has not shared in the general
movement toward higher levels partici-
pated In by other forms of steel. Only
an occasional carload is ordered by a
coal mining interest Rerolers, too,
are understood to be quoting 1.50c al
though at times 1.45c. price appears
from that source. Track accessories,
such as spikes, track bolts, tie plates,
&c. are not in demand, as the mines do
not seem TO be making repairs while the
miners are on strike. Boat and barge
spikes are quoted at 2.50c. and small
spikes at 2.25c.
Since the American Sheet and Tin
Plate Company last week extended to
the end of the third quarter its bookings
OF sheets at the prices prevailing for the
last three months orders have been par
ticularly heavy. These prices are 2.40c.
for blue annealed. 3.15c. for black. 415c
for galvanized and 450c. for full fin
ished automobile sheets. Independent
producers are naming 50 to 81 ton
above these figures, several different sets
OF quotations being current The lead
ing interest is running at rate of about
90 per cent. of capacity. Its daily
bookings still exceed productive capacity
when operating full, and, while heavy
orders still continue to be placed by the
automotive industry. particularly for
full finished sheets for bodies, hoods,
tenders. &c, other lines are well repre-
sented in the buying. Electrical sheets
are being ordered in fair quantities. The
present export business In sheets is COM
parably limited. =.
BUYERS of tin plate lately have been
nursuing conservative policy I'm laying
In stocks for the tomato pack. New
huving. therefore. is somewhat limited.
although specifications OF contracts con-
tinue good The majority of tin plate
makers are operating practically fun, al
though hindered here and there by
shortage of skilled labor. The leading
interest Is operating at about so per
cent of capacity, with a number OF In
denendents doing nrich better than that
THE price remains unchanged and firm
a. sA75 base box of 100 pounds
pittsburgh. although several weeks ago
an independent producer booked an or
der for so. 900 boxes at s4.35, but 1t is
understood that because OF spasmodic
slant operation this plate may not be
delivered for long time to come.
JoBbers Take Tubular &c DDS.
Numerous small orders continue. to
feature the tubular goods market. job
hers everywhere ordering one or TWO
carloads at a time. Most or these
orders are for smaller sizes OF gal
vanized pipe, but this demand Is ex-
,,ected 10 be superseded in September
~ October by a similarly heavy de-
mend for black pipe. A shortage OF
galvanized ripe is apparent with de-
I,veries from the mills from six TO
oteht weeks behind. The Bessemer
steei shortage ls also felt. Deliveries
NJ oil country goods. too. are from four
to ak weeks behind. Inquiries for line
nine are few. although some tentative
nropositions still attract attention. At
present the December 10 card discounts
are firm. with black steel buttweld
pipe. to inch, quoted at al per cent.
Oft. ,,
,,,arket are dwindling and users have
.nnarentIv satisfied themselves that IL
;s practically impossible to pick up
iarga lots for extended delivery OF sheet
bars billets or anything else. The SIT
uation remains unchanged in one re-
snont and that Is that much semi
sinished material particularly sheet
hars, would be purchased II were
srsrfable. The tendency Of producers
n "a hold down commitments. and one
huyer of sheet bars wishing to place
,ts third quarter requirements was able
to cover it's July needs only. Slabs are
quoted at s3i to s35, but sheet bars are
f,r,n at the latter level
ouietness reiens in the Connellsville
.oSe market. there being few inquiries
~ offerings. Generally speaking. the
MAJ rket is ouotabie as follows: Furnace
rote $3.50 to $500; foundry coke, $500