Evening star., 1926-06-10
STEEL UNCERTAIN
TRADE BAROMETER
Sentiment Now in Hands of
Professional 0ptimists
and PesSimiSts.
By j. G. ROYLE.

NEW YORK. June 1o-The steel
| industry has ceased for the moment
to be particularly accurate barom
United States. Temporarily sentiment
is in the hands Of professional
optimists and pessimists. while con
tracts for third quarter requirements
are being discussed.
Sellers are attempting to foster the
idea that business will be heavy and
prices high. while buyers are pulling
long faces over a possible slump in
building, the automobile trade and
other lines.
In the Middle West the situation in
steel is strong. Inquiry in the Chi
Cago district is heavy in nearly all
! lines and bookings have been very
| large. This latter fact has been due
to the desire of consumers to get
! their orders in before the advance OF
| s. ton on plates and shapes went
into effect. In the Pittsburgh dis.
trict the Chicago advance is regarded
as move to strengthen prices all
along the line for third quarter de
| livery and it may he followed in Pitts
! burgh. although the success OF the
move in the Pennsylvania district is
uncertain.
Northern Ohio Situation.
A favorable view of the northern
| Ohio situation is taken by John !:
| Harrington of Cleveland, president OF
the Trumbull Steel Co He believes
| operations will continue at fair
rate during the Summer. with ne"
business picking up in August. Other
steel men in that district predict
operations will not drop belo" oo
per cent of capa city even at the low
point of the summer. ONO tune
mills are running at the highest rate
of the wear. helped by one order for
200 miles of eightinch pipe. Repub-
lie Iron and Steel has added to its
nine capacity and its average out
turn has increased to 20 per cent.
YOUNGSTOWN Sheet and Tube. how
ever reports a slight decrease.
Railroad buying has aided the
Colorado mills and the Improvement
in general manufacturing actlvltles
in the Far West has given the Utah
and California mills and furnaces q
splendid run of business for compara-
lively new ventures.
In Pittsburgh the efforts or steer
bar makers to restore the market 10
2.cent.a pound minimum price have
as accompa the Chicago plate
and shane advance. In anticipation
of third Quarter demand the small
tonnage buyer is being asked TO pay
, 10 cents, the fair sized buyer cents
and large tonnage buyers l.9O cents.
Coal and Steel InterIock.
Coal and steel are most intimately
,nterlocked and the bitumlnous men
are earnestly engaged in STRIVING 10
adjust their industry to better OASIS
The National Coal ASSOCIATION. nov
meeting in Chicago, is looklns " ois
mergers as "A solution or unsdtlS.dt
,orv earnings. according to dispatches
TO the writer. There seems N.Y.
Doubt that while announcements OF a
merger of Al Indiana and Illinois
mines was premature, some sGch
move will go through and be put the
haoinpinr of a series of similar COM
binations. re- o..
The nermanent closing down OF the
Ma . mine Of the Pittsburgh Ter.
minal Coal Co. has further reduced
the coal tonnage of Pennsylvania pro
ducins under union scale. Inc mihcs
in the Pittsburgh district are not
sharing in the increase in coal move
ment due to lake shipments. nut some
of the non-union mines OF est
Virginia are reported sold up tor
months ahead. Production IN north-
ern West Virginia has been running
nearly $4,000 tons a week hisier
than a. this time last year
Pittsburgh shippers assert tnst
f,a;ebt ratas favor the West Virginia
and keniuckv mines in transporting
Goa, to Lake Erie ports. and VIII
omen a fight for readjustment of rates
before the Interstate Commerce Com
mission at Atlantic City. June 20.
The coal mines at Anthracite, near
Ranff Canada. are expected to resume
operation this Summer after an ldle'
ness of "a years due to litigation.