Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-08
PIG IRON OUTPUT
REVEALS DECLINE
Lowest Point Since 1924
Reached in Month of
September.
~ the Associated Press.

~ the Associated Press.
NEW YORK, October s.-Declinint
e.s per cent, pig iron production IL
September reached the lowest rate since
the same month in 1924, Iron Age VII
say tomorrow in its weekly review o.
the industry.
"Total output" the review states
"was 2,276,770 tons, and the daily aver
age was 1880 tons, compared VIII
2,523,921 tons, or 81, AIT tons oay, II
"Eirhteen furnaces were blown out
last month, and two were lighted, max
ing a net loss of Is. This marks tine
sixth consecutive reduction IN active
capacity and brings the total numpel
of stacks in blast down to l23, or o.
fewer than on April /, Wnen the uh'
interrupted recession began.
Ingot Production.
"Steel ingot production also showed
a reduction in September, declining Ia
ner cent from August and more tnan
canceling that months gain over July
The gain In business that oevelopcv
In September was apparently TOO smal
to absorb the surplus stocks OF raw
steei acc,lnnulated in August. It Is to
be noted. also, that much Of the ouy-
ing last month was for forward oenV-
ery and did not result in immediate
demands on the mills. -
"Contracting. in turn, has oeen
checked by the realization that the
;rnnroyement in steel bookings IN sep
tennber was overestimated. In some IN
stances negotiations for forward com,
nnitments have been cropped Dcaus $500
~ 70 il,,re of mills and buyers to come
e. agreement on prices. Renewed pre-
s,ress,,re. in fact, has become 1eaSule
of the reversal of sentiment. s,.,
"Pacent advances in bars ana piaCA
49, Hire annealed sheets have 1alleu 70
hold. while hot rolled strip ana skS,p
.rs down 81 and 50 ton, respectively
TfY Mate has been reduced 70 cenIs
haze box of SIS, Pittsburgh, 10 pw.ss
isyel since March, 1928. inns CIn -,
was influenced, in part, no uou ~ tbs
the fall in pig tin. winch y NJ" a. also
,.enresented an effort tNstabilize prlce
tS,et has been subject to sharp concee-
sions in recent months. ro+cbed
aGcron ALWAYS a closely WatcuSu
s.ro,,,efer has developed further weaA-
Dess Heavy melting grade at rh rs
h,,roh has declined so cents ton ~.
the second time in as many WeesS ~
cessions of so cents at chicago anu sS AZ.
TolIis and Is cents at Clevelanu ,.cei-
cate that the tIcno 40 -
"While the brief squirt in steel a e,s.
vnand in September failed 10 prIng sse
innc-awafted recovery. current specM-
ratsons as contrasted with commII-
.,esnts have shown little diminutlon.
Etnei inrot output for the country AZ
iarre averages close to % per cens s
compared with 81 per cent 2 Meek 80
aThe santa Fe Railroad mas plan -.s,i
orders for 81 200 tons OF raiis ano w
econ purchase 10000 tons OF track ias -
fe,,inas The Pere Marquette mas
ss@a,est "a $50 tons of rails. Inquiry py
AZ New york Central for 175,OOO tons
has been postponed"
New projects requiring fanrlcaaeo
Structural steel reached total OF az
n0f, tons in the last week, more tnan
So,,hie the total week ago. Faorl-
seted steel awards totaled $4,000 tons
last week, which was larger IMAM III
eifher of the two previous weeks.
Composite Price.
The Iron Age composite price for nm :
ssfed steel has dropped back 10 1.l4z
cents 4 pound, the low for the year,
reached ia August, from 2.lS6 cents
last week. The pigiron composite =
unchanged at $3.50, but that ios
heavy melting scrap has decnneo 70
e1325. the level from which 1t ao-
vanced in August, and ONLY. ~ cents
ton above the low point OF Juiy l.