Evening star., 1939-09-08
Steel Export Prices
Raised With Big
Orders Due
Quotations Increased
To Meet Domestic
Market Levels
BY the Associated Press.

BY the Associated Press.
NEW YORK, Sept. 8.-Foreign
inquiries for steel, consumers goods
aviation and other equipment re-
minded American exporters today OF
the World War boom in overseas
trade.
A boost in export prices on steel
products was one of the first con-
crete indications of a shift in world
trade toward the great industrial
machine of the United States.
Steel circles said export quotations
were being raised to meet the do
mestic level. Prices in the export
market, it was explained, had been
depressed by competition. Plates
were reported quoted 50 ton higher
to foreign sources and semi-flnlshed
steel about SIS a ton up.
The immediate prospect for ex-
pansion in overseas commerce. ex-
port authorities said, has been OBJ
scured by snarled shipping facilities,
the submarine menace. high war risk
insurance rates, the United States
neutrality law and confusion over
prices.
Exporters Confident.
Some exporters said, however, they
were confident these obstacles would
be overcome in time so that export
divisions could take care OF in
creased inquiries from Latin Ameri-
ca, Japan and other nations which
may divert orders to this market
from warning Europe.
The possibility the Federal Gov
ernment may enter the war risk in
surance field, it was suggested, held
out a promise of aid in that
direction.
Foreign traders generally agreed
the removal of German and British
competition, particularly, would
open a wider field for Uncle Sans
statesmen in South America, Canada
ard Asia.
The rise in prices of farm prod
ucts, rubber, tin and other basic
commodities produced in these
countries, it was held, would pro-
| vide increased purchasing power for
trade within the United States.
Inquiries have been larger than
actual orders since the war out
break. But today steel men said
there were strong indications in
quiries IN that line, at least. would
be followed by specifications and
placing Of business.
Organized steel exporters at
tempted to limit raises on export
quotations to domestic levels to
avoid harges of "profteering" on
foreign business
Vessels in Demand.
The problem of finding bottoms"
| to ship the metal worried steel ex-
| porters. although the industry was
said to be much better situated in
! that respect than at the start Of
the World War. The United States
Steel Corp. has a fleet of about 80
ships to handle export trade.
Shipping quarters noted there are
more than 300 vessels available for
handling American goods. three
times the supply in 1914. The 10
year $1,000 ,O00, 900 shipbuilding pro-
gram of the Maritime Commission.
calling for 500 new ships, was ex-
pected to supplement the American
fleet considerably in event of pro-
longed war.
Aviation and other war supply
industries waited for developments
on neutrality legislation in Wash
ington to clarity prospects of busi-
| ness with Europe.
More Planes Needed.
There were reports of large addi-
tional British and Franch inquiries
for American planes, unconfirmed
officially. Informed quarters said
only about 80 per cent of the big
foreign orders for fighting planes
placed in this country some time
ago remained undelivered when the
neutrality proclama ton became ef-
! fective.
A reliable aviation export source
said recent shipments on aircraft
orders have included
To England: $50 Lockheed two
engined bombers: 400 North Ameri-
can basic combat planes, single
engined.
To Australia: so Lockheed two
engined bombers; so North American
combat planes.
To France: $50 Martin two
engined bombers: 40 Vought single
| engined fighters; 100 Douglas two
engined bombers.
In process to delivery to Canada,
! it was said, are Is North American
! combat Ships