Evening star., 1938-04-25
LULL CONTINUES
AT STEEL PLANTS
Mill Operations Expected to
Remain Around Present
Low Levels.
Special Dispatch to The Star.

Special Dispatch to The Star.
CLEVELAND, April 25.-Steel buy
ing shows no indication of gaining
in volume, says Steel.
Immediate prospects are for con-
tinuation of the present rate of ac-
tivity. Some observers believe the
peak for first half has been reached,
the early part of April being the high
est point in production.
While inventories of steel consumers
have been reduced materially, some
having cleared their accumulations,
survey by sellers reveals that stocks
are still large in the case of others.
Continued absence of the various
branches of the automotive industry
from the market removes an i'm
portant factor in demand and signs
indicate little buying will be done for
that outlet before midyear. Agricul-
tural implement manufacturers are
approaching the time when produc-
tion will be eased. Last year the alb
sence of dealer stocks minimized this
dip, but this year stocks are much
larger.
Much interest attaches to DISPOSE
tion of the Is cargo ships for which
the maritime commission will open
bids early in May. This tonnage will
be of Importance to mills within
reach of tidewater.
Rate Up Slightly.
Slight changes in operations last
week resulted in a not gain of half
point in the national rate. to 325 per
cent. Adjustments to meet demand
indicated no definite trend. Pitts
burght was l point lower at 20 per
cent, New England points lower at
25 per cent and st. Louis 81 points
lower at 1868 per cent. Chicago gained
half a point to 3O.5 per cent, Wheel
ing 13 points to a., Buffalo 2 points
to 80, Cincinnati 27 points to As and
Cleveland 78 points to 30.8 per cent.
There was no change at Detroit at
l8 per cent, Birmingham 66, Youngs-
town 81 and Eastern PENNSYLVANIA at
%.
International Tin Plate Association,
the tin plate cartel, has reduced the
price for export business from the
equivalent of about s5.62l2 per base
box to s5.04s4 per base box This is
a reduction of 57$4 cents per box. The
cut is said to have been made to meet
competition by an American pro-
ducer, selling under the former cartel
price. Meanwhile American tin plate
makers have met severe competition in
South American markets from Ger
man plate offered considerably under
the American product.
Inquiry for 5000 freight cars by tile
Southern Railway, requiring an esti-
mated 80,850 tons of steel, is a high
Light in the railroad field Bids will
be opened April 80, thus offering pos
sible early production. General Chem
ical Co., New York, is asking bids on
seven to ten lotion covered hoppers
and Pittsburgh Plate Glass Co. on
one tank car. The Chilean State
Railway has awarded seven locomo-
tives to Baldwin Locomotive Works.
Rail Tonnage Lags.
Rail inquiry is being held back, al
though considerable tonnage seems
imminent and badly needed. New
York Central has postponed indefi-
nitely rail-buying program of 10000
tons. Rail mills are nearing the end
OF present commitments, some seeing
the end of their orders early in May.
Lehigh Valley has permission to bor-
row S778,000 for repairs to equip
ment, including 1,460 steel coal cars.
Government loans to railroads may
increase equipment buying, though
present freight volume does not re-
qulre more than present equipment.
Public projects furnish most struc-
tural tonnage, among large awards
last week being 1000 tons for a trestle
and 1900 tons for travelling cranes
for Coulee Dam, $500 tons for East
River Tunnel, New York, and 2,100
tons for an airplane hangar in New
York State. Some 1000 tons are pend
ing for Queens-Midtown Tunnel, New
York
NEW YORK, April 25 (P1.-Opera-
tions in the steel industry for the
current week will decline 4 of / point
to 80 per cent of capacity, compared
with 32.4 per cent last week, the
American Iron and Steel Institute
estimated today
A month ago operations were at the
rate of 35.7 per cent of capacity, while
q year ago they were 923 per cent.
nArr NaI 0@naaa~@u-~I