Evening star., 1933-11-29
FASTER PACE SET
At STEEL PLANTS
Heavier Releases May Fore.
cast Reversal of Usual
December LuII.
Rr the AsEnriatei Press

By the Associated Press.
NEW YORK, November 29.-At a
time Of the year when the trend of
output is usually downward, iron and
steel releases are showing a slight gain,
which Is being reflected in mil opera
tions. Although the production schedule
at the beginning OF the week was re-
ported as 268 per cent, compared with
26.9 per cent seven days previously,
actual operations again are running
somewhat ahead of schedules, averaging
close to % per cent as compared with
27l2 per cent a week ago,
The improved showing Of production
has been reflected in the scrap market.
which is always sensitive to a change
in the operating trend says the Iron
Age.
An increase in the price of heavy
melting steel at Chicago has caused the
scrap market composite to rise from
Se.83 to a gross ton, its first advance
since the second week in August.
Confidence Increases.
while it is still too early to make
definite forecast of a contra seasonal
increase in steel production in Decem-
ber, a further upward revision of auto
mobile production schedules. the plac-
ing of several rail orders and the ap-
pearance of additional public WORKS
projects have all contributed to a feel
ing of greater confidence. Expectations
are tempered by the SlOWneSS With
which certain public projects are ma
turing and by new uncertainties which
may tend to delay or curtail part of
the rail buying program, factors which
may prevent any appreciable upturn In
production from developing before
January.
'.'Most of the price changes contem-
plated for the first quarter of next year
have now been filed. No advances in
pig iron prices have been made except
in New England and Eastern Pennsyl-
vania. Prices on plates, shapes, bars,
strips and most finishes of sheets have
been reaffirmed without change. In
sympathy with the recent advance IN
tin plate, tin mill black plate has gone
up SO a ton. long ternes have risen ST
a ton and terne plate has been marked
up varying amounts, the increase in the
base being S11 ton. Revisions have
been made in the discounts on standard
commercial seamless boiler tubes reflect
ing an average advance of $3.50 ton.
Cast iron pipe has been marked up 81
q ton at Birmingham.
Railways Ask Loans.
"The Chicago & Northwestern and
the Chicago & Eastern Illinois have ap-
piled to the Interstate Commerce Com
mission for the approval of Government
loans for the purchase of rails and
fastenings. Demands for collateral and
other conditions prerequisite to the
granting of loans have discouraged roads
from borrowing, with the result that
many lines will finance their own pur-
chases, if they place any orders at all.
AS a consequence, the amount of rail
tonnage that will finally be bought is
in doubt.
Railroads which have already made
direct purchases include the Burling-
ton. which has ordered $4,000 tons;
the Northern Pacific, which has placed
$500 tons, and the Norfolk & West
ern. which recently closed for 1880
tons.
Steel production has increased five
points to so per cent in the Wheeling
district three points to 35 per cent
at Buffalo and one point to 18 per
cent at Philadelphia. Output at Chi
cago is off fractionally to 26l2 per
cent The Pittsburgh rate is un-
changed at 81 per cent.
The Iron Age composite prices for
pig iron and finished steel are un-
changed at 1851 ton and 2.Ol5 cents
q pound"