The Iron Age 1911-11-30: Vol 88 Iss 22

HE IRON AGE Esta blished New York, November 30, 1911 VoL. 88: No. 22 Published Every Thursday by the DAVID WILLIAMS COMPANY Very rey Buying of Pig Iron 239 West 39th Street, New York The Week’s Total Nearly 400,000 Tons ia Entered at the New York Post Office as Second-Class Mail Matter. Su Price, United St d Mexico, $5.00 A Can . $7.50 eS io on Foreign C en st0. 00 a hae Unless a Republic Company Advances Steel Bars— A yar Seren ee for payment will be shown by extending the Reduction in Wrought Pipe W. H. Taylor, - - - - - President and Treasurer < 1. A. Mekeel, c ? : : . - _ Fint Vice-President A buying movement in pig iron, far more vigorous EX Geo. W. Cope, ie sagt Z and extensive than has been seem in recent years, is 1m bs: A. L. Findley, pe: ig ee aaa Editors full swing in all sections of the country. In Southern W. 'W. Macon, ¥ . iron the total closed is fully 200,000 tons, while North- oe M. C. Robbins, pha eal eee ,— ern furnaces have done nearly as much, making the “i Charles S. Baur, - - - Assistant Manager total for the week not far from 400,000 tons. “ One Southern interest has disposed of 150,000 tons, Branch Offices . . 5 Gi} 2 Philadelphia, Real Estate Trust Building Chiseee, Fidher Dailding about equally divided between foundry and basic irons. g Pittsburgh, Park Building Cleveland, American Trust Building The pipe foundries have been heavy buyers, one com- % Boston, Compton Building Cincinnati, 607 Andsswe Building pany taking from 75,000 to 100,000 tons of Southern Ss iron for its various plants, chiefly Western and South- : CONTENTS. ern. The large agricultural machinery manufacturers ee ap je BR 8 a a ee 1167 have also bought from Southern furnaces. The sales - Beery: oe Iron and Rerolled Steel. .....++.++ a of Southern basic have been mostly to steel foundries De. REDO BE NOD ios phe dc dgcccervels vosevececevios she 5 . it - F Do Congressmen Enjoy Ruinous Steel Prices?.............. 1170 and are in consequence of the large car and locomotive A Proposed Bounty on Canadian Pig Iron..............+-.+. 1170 orders announced last week. Southern No. 2 sold in ; The Ple f 1911 in the Pig Ir BORO «obs bin. 0 0,0 cS cane 1170 . . . 4 ee a ee en ee ee ‘ the larger transactions of the week at $9.75 and South- 2 CRCURON DEMOTERL EOOT ss 6.0 occ ceed reewacdecssccsccocscr . 1170 : : . : . Programme of Mechanical Engineers’ Meeting.............. 1171 ern basic at $9.60 Birmingham. \dditional Niagara Falls Power Development................ 1171 The business of the past weék has been largely for Improvement in Electric Induction Furnace Linings.......... 1171 ‘ : ; ae if a i ' Spice We TN EN ai iki kao conde dtndncdscpenessececss 1172 delivery over the first halt of 1912, though some buy- Labor Notes ..sccsecccsccseccsscsvccseveers seesees .... 1182 ing was for the first quarter only. Large inquiries for eee Hema Te naNer ents £4 S8re 8 Canam Sy aes tr dhen a pig iron are pending, relatively much more in Central To Concentrate Moose Mountain Iron Ores.................. 1183 and Western districts than in the East. Car works Railroad Equipment Orders. ..........2csececeeceececeececs 1183 requirements in malleable castings are being covered ra Pittsburgh and Vicinity Industrial Notes................000: 1184 3 . . ‘ Nip hag a ou : a Inteieneee Taeees Ores. oi so ssi toes va ccaciectascncswaed 1184 and gs Sere malleable foundries are closing for Pig Plans of the Otis Steel Company...........0.-ecesceccecees 1184 iron. The number of gray iron foundries which have ve < Kerr Turbine Sales.........-.+. teasecedendsdeceesereeeses 1184 placed orders for 1000 tons or more in the week for — The Weiss Briquetting Process for Ores and Flue Dust...... 1185 MSs '3 { fi half ‘of ; . . > daceete 2 The World’s Production Of Coabs..c.cscssceseceresecen sees 1ig5 delivery in the frst halt of next year 1s very large. Engineers Visit Cambria Works..............00.sceeeueeees 1185 Appreciation of the lowness of prices seems to have Future Development of the Middle West..................5- 1186 spread widely and quickly aes Production of Manganese Ores. .........ccscsvsvcessecweces 1187 7 ae 4 = . i Wrought Iron Versus Steel Pipe..............cceeeesesnees 1188 A Southern Ohio steel company has taken bids on = Harbison-Walker Refractories Company...............+. 1188 20,000 tons of basic iron and in the Pittsburgh district ‘ omen “Tas Wine DEetks: Tremere sé. iieis os cdieles ccs cacseceyacoes 1189 ; +s . . ta ; inquir sic for f 0 0 Sixty-Seven Years of Charcoal Iron Production............-. 1189 — for basic the first half o 5195S amount ¢ Dverhaniic ENE. © 52S es Cin ip kw hineds ch¥le tine Wkwa ee vags 1199 Over 50,000 tons. One steel company that has not 2 _ Vork City Taxation, .......ssssscsssssscccssccecessiees 1191 needed outside iron for several years*is in the market iy outing Material Through Shop Departments...............- 1192 : . . . _ New Waltham Thread EK vt S ete heed cine os 0 deee tbe 1194 for basic. The price has declined slightly and sales Cn ee grt jot eoebes . : saath 9 Suis 6 WHS wo. rhea ee oe i. are’ now reported at $12.25 Valley furnace. y ic Air Compressor Sales...........+seecsesess c 3 ~ Improved Simplex Radial Drill..........---++see+eeeees 1195 The week has been much less eventful in finished an to Restore Original Beauty of Niagara Falls............ 1195 : : oe ; : The New Steel Plant at Duluth CeCe eee meee ee eee meee eeeee 1196 lines than m pig — A lull m — orders 1S natural Aut omatic Motor Controllers.........-++-eesseereeereeren ge 1199 after the burst of activity in the middle of the month. The Reading-Bayonne Steel Casting Company........+...++0 1199 B he hi , Pact ; 500-hp. Forced Blast Unit........+.s.cceeceeeeseeeeer sens 1200 ut the Missouri Pacific has bought 2000 cars more, attery Truck Crames. ....ccceescesicrccccccecvccscoss ee 1200 ki : : ma its i G Recorder with Frictionless Inking Device.........++++++0++++ 1201 ing its total 5400 since August, and the srand Worth Brothers Company’s New Railroad. Bugcescoseeees ds 1201 ‘Trunk has placed 2000 steel hopper cars, while of the Cw Silwer Ds oni 60009500-6:4.0 00's gate ee Oe DEE 6 gs. s0'c g's baee 1202 Sod Enlarged M. Rumely Company......---sse++sereseens *. 1202 4500 tars given.omt by the Canadian Pacific 2000 have re thy Stee an Io. Rising. ... Bestest bile <0 well ey i come to shops-“ort this side. The Chicago & North- A New Crane Trolley... ........0.sedee¥ecess Ere dcctarion . fi ; oe ee Notable -Open-Hearth Furnaces:...:: @pgae+.+..ss02¥- 1203 wester mass expected t6 buy 75 locomotives in addi- eca Falls Relieving Attachment........ ScgeW Wied << one ssi 1204 “tion to 3300 éars. The Santa Fe’s inquiry is for 8000 n Improved Spring Dita. - ese s eee cen epee steer dares 1204 Tibames Governor Pleases Railroad Sabar@ite ws... isenus — cars. ¢ Machinery Markets. ........cceseecececserereseterecies 1 4 2 : Trade Pablications cg ieivoendé vcugeebee to +> vbankeaee 1243 The rail market has been quiet for two weeks. : : ~S: DIESCHER & SONG, Mechanical and Civil Engineers, Whe Cee eae 1168 Details of specifications must be arranged on some pending business. Thus far only about 250,000 tons have been bought for 1912. Indications have been pointing to a firmer market in steel bars. A definite turn to the situation was given this week by an announcement by the Republic Iron & Steel Company that it would take no more prompt busi- ness: below 1.10c Pittsburgh and no business for de- livery after January 1 below 1.15c. Recent business in bars has been heavy. Another manufacturer reports sales for shipment through February at 1.10c and for reinforcement work in the new New York subway, where deliveries run through 1912, at I.15c. Announcement is made of a reduction of one point or $2 a ton on butt weld pipe and of $4 a ton on lap weld pipe, effective December I. Railroad bridge orders have been growing in re- sponse to low prices, as happened in 1909. In Eastern districts the larger structural awards of the week amounted to about 29,000 tons, of which 18,000 tons went to the American Bridge Company. Fuller operation of finishing mills has come in spots. Following the release of railroad orders, plate mills in the Pittsburgh and Chicago districts are mak- ing mich larger outputs. Tin plate operations have increased to between 50 and 60 per cent. Eight of the 23 hot mills at Martins Ferry, Ohio, will be started December 4. Some mills sold 60 to 70 per cent. of their output for 1912. Concessions from the $3.40 basis continue. Whilé wire mill capacity has been quite well em- ployed, prices are weaker and sales have been made at $1.50 for nails and at $1.30 for annealed fence wire. have The Spheres of Wrought Iron and Rerolled Steel In very recent times the manufacture of -wrought iron appears to have found a definite place, in which it is promised more or less permanence. For years it has not been the leading material in the production of mer- chant bars, and its use among merchant mill products is now confined almost entirely to the manufacture of specialties. On the other hand, the manufacture of wrought iron for plates and sheets, particularly the lat- ter, and for welded pipe has measurably increased, and for the production of a certain tonnage of these prod- ucts wrought iron appears to have made for itself a definite place. : Inasmuch as the entire product of rolled soft ma- terial was at one time wrought iron, and steel entered the field simply by reason of its cheapness and con- venience, it is necessary to draw a distinct line between the manufacture of iron as the remains of a decadent industry and the manufacture of iron as a definite and desired product. On the one hand, in recent years iron mills have been operated merely because they were in existence; such iron mills would not then have been erected with fresh capital. At the same time, however, certain new iron mills have been built for the purpose of making definite products, almost exclusively iron sheets and iron pipe. Naturally the supplanting of iron by steel was not instantaneous, and indeed it is sur- prising that the change was effected as rapidly as it was, for it necessarily involved the abandonment of a great deal of plant. Undoubtedly one reason for the quickness of the change was the fact that it occurred THE IRON AGE November 2 largely during a severe industrial depression, \ th abandonment of plant was a light matter, and on account of the total demand growing so slowly. : \; not difficult for the new material to push the old «ut 9; the field. The greatest production of rolled iron occurre: ear} in the nineties, although, on account of the earlier eral adoption of steel as rail material, the production oj rolled steel had already passed the production of rolled iron. For a period of several years, from some tinie jp the eighties until the early nineties, we had the specta- cle of the wrought iron industry growing in tonnage even though it was outclassed by the steel industry. Then rolled iron declined rapidly in tonnage for years until the present century, when a revival occurred, cul. minating in a high output in 1907. Throughout the en- tire period old iron mills were being abandoned, and the increase in tonnage was due partly to the starting of old mills which had not been abandoned, and partly to the erection of new iron mills to make the particular products to which we have referred as now occupying a defined and probably permanent place. Statistical records of the wrought iron industry are quite incomplete, but the summations of the number of existing puddling furnaces made in the various editions of the American Iron and Steel Association’s directory are of interest. We do not think the practice of the iron mills has been uniform in reporting their furnaces Some, but apparently only a few, have reported their busheling and scrap furnaces as such, and we presume the totals given in the directories of “puddling fur- naces” do not include such furnaces. They should do so, or else summarize them separately, for there is no fun- damental distinction, as regards the finished product, between puddling, busheling and scrap furnaces; and indeed furnaces for heating piles on boards should have been given some place in the summaries. However, the statistics of “puddling furnaces” from recent edi- tions of the Directory are as follows: November, 1887..... 4882 April, 1898.......... 3880 November, 1889..... 4914 November, 1901..... 3251 January, 1802....... 5120 JURG@,, Siicesas>s- 3161 January, 1894....... 4715 ‘November, 1907..... 2635 January, 1896....... 4408 The maximum number was evidently reached in 1891 or 1892, but the decline in production in the nine- ties was much more rapid than the decline in the num- ber of furnaces, so many lying idle during and after the industrial depression, Statistics of tonnage production of wrought iron are available for 1890 and many previous years, and for 1904 up to the present time. Prior to 1888 complete statistics of rolled steel were not collected, and in the years 1891 to 1903 inclusive statistics of rolled iron and rolled steel were gathered together. From the tonnage data available there is reason to infer that the maxi- mum tonnage production of wrought iron occurred very eafly in the nineties. The maximum proportion of rolled iron compared with all rolled material was of course 100 per cent. before the advent of steel. The proportion has been decreasing continuously since then, but it is our purpose to suggest that this decline in per- centage has very lately been almost arrested, through wrought iron having madé a definite place for itself in certain lines of consumption. In the following table we present statistics covering the only years for which the computation can be made of the percentage of rolled iron to total rolled iron and steel: No, ember 30, IQII The Production of Rolled Iron in the United States. Its percentage Rolled iron, of total rolled gross tons. iron and steel. oc n0sed 6Scna Raw eanie e 2,153,263 46.5 ocvueddbeusemadee otmen’ 2,309,272 44.1 ) esos tbnne hati eebe ba ees 2,518,194 42.8 4 ow bale wae Bee anise nnd 1,760,084 14.7 S lsckewan eek War ka abane 2,059,990 12.2 16 ccaiddtottn walbre wa ebleaun 2,186,557 11.2 7 seoneeenboasda nee 2,200,086 11.1 QR .adbewet evs aa nee pew res 1,238,449 10.5 Q .<c¥idew en tee S40 geleteaeen 1,709,431 8.7 Os 0 6 OU bb hae ee hae 1,740,156 8.1 the outset, rolled iron was made more from e or mill pig than was the case in later years, be- se little scrap was available. Later, the proportion le from old material increased, because wrought iron ) became more abundant, and undoubtedly by far major portion of the wrought iron produced in the ties was made from old material, for at that time creat deal of iron scrap was coming out. The ton- of old steel scrap was then very limited, for steel | not been in use in large quantities for a sufficiently ng time to bring much old material into the market. For a period of years the outcome of old wrought iron steadily increased, but in recent years there is reason suspect it has been decreasing, and if the production f wrought iron—which decreased from 1907 to 1910— loes not materially increase in the future, the outcome i old wrought iron is destined to decrease further. us it follows that of late the manufacture of wrought | has had to depend more largely than formerly upon the use of forge pig iron. This, however, is in line with the policy of certain manufacturers who have been pushing iron sheets and iron pipe in the market s a distinct commodity. On account of the nearly complete substitution of steel for iron, nearly 92 per cent. of the total rolled aterial in 1910 being steel, the old material coming it from year to year tends more and more to be steel rather than wrought iron. This steel naturally flows to the basic open-hearth steel furnace. To a limited ex- tent it has been rolled with iron, whereby separate asses are stuck more or less permanently together ; but i rule steel does not lend itself to such rolling proc- ses as does wrought iron, quite miscellaneous aggre- gations of which can be made into a fairly good fin- ished product by fagoting and heating piles on boards. it chances, however, that steel is coming back as ld material in a better condition, and in larger masses ind of more uniform section, than was the case with ‘on; and when enough steel of ‘similar description is ilable, it becomes commercially feasible to roll it other forms without any attempt at welding, mak- ng the finished section smaller than the original sec- In the past few years a very important industry this sort has grown up, in the rolling of old steel ils into light rails, bedstead angles and a great va- ty of other small structural shapes, as well as into rious descriptions of merchant bars, and particularly intended for concrete reinforcement. Thus far steel rerolling industry has attacked little material old steel rails. It may easily be foreseen that in future it will become commercially practicable to k other forms, as the use of steel of large sections s. Steel sheet piling is a comparatively new prod- and as it can be used over and over again it is not red as old material to any extent. Eventually, how- *, this piling, after such abuse as renders it unfit for ther service, will come into the market, and when flow is sufficiently steady it will be rerolled rather remelted. THE IRON AGE 169 The rerolling of old steel has been, as a rule, an expensive process as compared with the cost of rolling new steel. The reason is that the average rerolling mill has been a hand mill very largely, while the new steel is rolled chiefly on continuous mills of the most modern type. Given a sufficiently uniform section of old material upon which to work, there is no reason why rerolling practice should not be reduced to a very low cost basis. It will then take much the same economic place in making old steel fit for re-use as has been occu- pied by the iron mill rolling piles on boards, fagots, etc. An Appeal to Prejudice Chairman Stanley of the committee that is assumed to be investigating the United States Steel Corporatio. said last week after the testimony of the Merritt broth- ers concerning their dealings with John D. Rockefeller and F, T. Gates in the early days of the Mesaba iron range, that he had gone into the matter “in the inte: es‘ of humanity.” Even taking the chairman at his word, he deserved the full force of the rebuke dealt him !\y a fellow-member, who protested against such a use of the machinery given the committee by the House of Repre- sentatives “to prejudice the defendants before this com- mittee—and I say ‘the defendants’ knowingly, because the whole attitude of the committee has been as a pros- ecuting committee.” ' Granting that Chairman Stanley's view of the Mer- ritt transactions was the right one—though there are counter statements which put a very different light on them—his effort to connect them in:the public mind with the Steel Corporation is shameful evidence of the appeal to prejudice and passion into which the inquiry has apparently degenerated. The sinister innuendo of his remarks, taking credit to himself for bringing the Rockefeller-Merritt controversy into the committee's hearings, will not be missed. He said with unconcealed sarcasm : We have heard so much about the absence of moral turpitude on the part of these people [officers of the Steel Corporation] who may have technically violated the law and who are now defendants in this action, that I thought it just as well to introduce a little evidence that would exculpate this committee forever afterward from any in- timation, any suspicion, that we were seeking to punish— not to punish, because I do not seek to punish but to in- vestigate—to investigate a technical violation of the law, were there no law, no archaic and foolish law, like the Sherman Act in force. And I picked up this little inci- dent from my journey in Minnesota, which to me was very interesting and very sad, which I thought might just settle that question in the minds of many men—many dis- tinguished men, a great many men—who-are disturbed for fear this committee might throw light upon facts which might lead possibly to any action by the courts which would convict them, who are only technically guilty and who are morally, personally, industrially, innocent and commendable. In other words, this “very interesting and very sad” story is introduced into the investigation of the Stoel Corporation so that there might never be any doubt of the turpitude of the officers of that corporation in con- nection with a transaction with which they had not the remotest thing to do. And on the motion to strike out the Merritt testimony “as irrelevant and entirely out of place,” we are told that the Stanley committee divided on strict party lines. Nothing that might be added to the above extract. from the record could make it plainer that political necessity is a chief incitement to the continuing attack on great business. # i e tp ar } ; : ) ee i! ee & a : eet ar! ye ac ". k j . oh ; 1 - * ie ¥ et Re fr Poy ey ft j 3 ; ey “* ’ : ‘i; , _*= i ae 1170 THE IRON AGE Do Congressmen Enjoy Ruinous Steel Prices? Washington advices report that the Stanley Com- mittee is restive under the criticism that the expenses which it has incurred are disproportionate to the re- sults accomplished. The chairman of the committee says that these expenses have up to the present time been about $25,000 and he believes that this will not be regarded by the House of Representatives as ex- cessive. As an offset to the expenditure of public funds thus made, members of the committee claim that soon after it began its work reductions were forced in steel plates, structural shapes, tubes and other forms of steel manufacture to such an extent that “a saving has been realized by consumers amounting to from $25,- 000,000 to $40,000,000.” In the light of this: enor- mous saving by various consuming interests, it is urged that the cost of the investigation is hardly worth considering. It is an extreme view to take of the work of this committee that the severe reductions in steel prices which have been made this year have been wholly due to the influence of the committee’s investigation. Those who are engaged in the iron and steel trade may hardly be inclined to give the full credit of these reductions to the committee’s work, although they may blame it for helping to depress business. Some of them were begun before it got to work actively. At the same time it might be said that the members of the committee who make such a claim are seeking for praise where they would deserve censure. The prices of the steel products on which such heavy reductions have been made were not exorbitant, and the country was not seriously suffering from the exactions of the steel manufacturers. The prices now ruling, how- ever, and for which these members of Congress take credit to themselves, are such as to afford little profit to manufacturers having the greatest advantages for producing at low cost and are most eligibly located, while others are hardly getting a new dollar for an old one. The condition of the iron and steel industry is hardly of the kind that even a member of Congress should gloat over. a Oe A Proposed Bounty on Canadian Pig Iron Hopes are entertained by the Canadian iron and steel manufacturers that the new Dominion Govern- ment will again grant a bounty on pig iron. A depu- tation of Canadian iron and steel manufacturers wait- ed on the Prime Minister and his cabinet colleagues at Ottawa, November 22, to urge the granting of a County “as a partial compensation for the disabilities under which the industry is placed through the lower- ing of duties, exemptions and discriminations.” .The spokesmen of the deputation were J. H. Plummer, president Dominion Steel Corporation; T. J. Drum- mond, president Canada Iron Corporation and Algoma Steel Company; Thomas Cantley, president Nova Sco- tia Steel & Coal Company; R. Hobson, president Steel Company of Canada, and R. J. Mercure. A memorial was presented asking for an investigation of condi- tions in the iron and steel industry and for some dec- laration of policy that would warrant the directors of iron and steel industries in going ahead with plans for enlargements and improvements. Prime Minister Borden promised that the matter should have consid- eration. As the Canadian manufacturers exerted a powerful November 30. i911 influence toward defeating the proposed re agreement with the United States, and thus ass placing Mr. Borden and his party in power, it would seem that they have such strong claims on the : ministration that the bounty they ask for will b: ed to them. Possibly a bounty may be needed, but the developments of the past few months do not sc have made this certain. Even with pig iron prices on this side of the border down to an extremely low eve] owing to the depression prevailing here, the Canadian manufacturers appear to have been well able to | their own against American competition in their markets. dennis tliiiecartinisnnics The Place of 1911 in the Pig Iron Record It is now possible to estimate rather closely the record 1911 will make in pig iron production. For the first half of the year the official returns showed 11,665,000 gross tons. The increase in output since July will bring the total for the second half clos¢ 12,200,000 tons, so that the year will show not far from 23,900,000 tons, allowing for some increase upo! the rate of production at the beginning of November The year thus takes its place between 1905 and 1906 in the pig iron column, the former with an output oi 22,992,380 tons and the latter with 25,307,191 tons Thus 1911 will stand fifth in order of pig iron produc- tion, 1910 with 27,303,567 tons, 1909 with 25,795,471 tons, 1907 with 25,781,361 tons and 1906 with 25,307,- 191 having precedence in the order named. The consumption in 1910 was probably not over 26,000,000 tons, since stock accumulations were well over 1,000,- 000 tons; in 1911 the reverse has been true, consump- tion having been sufficient to eat into stocks, probabl) to the extent of more than 400,000 tons. Measured by the pig iron entering either into home. consumption or exports, 1911 has thus fallen only about 6 per cent short of the record year—a performance far beyond what the iron trade has been willing to believe as the various disappointments of the year have in turn dis- closed themselves. Oe Ericsson Memorial Dinner.—The Capt. John Erics- son Memorial Society of Swedish Engineers held its fifth annual dinner, in commemoration of: Ericsson's arrival in this country 72 years ago, at the Engineers’ Club, New York City, November 25. About 75 engineers from vari- ous points in the East attended. C. G. de Laval, genera! manager of Henry R. Worthington, Inc., Harrison, N. J. presided. Among the speakers were C. J. Mellin, con- sulting engineer American Locomotive Company, Schen- ectady, N. Y.; G. P. Wern, manager Meade-Morrison Mfg. Company; Col. William C. Church, editor Army & Navy Journal; Col. E. D. Meier, retiring president Amer- ican Society of Mechanical Engineers; Capt. A. P. Lun- din, president Welin Davit and Lane & De Groot Com- pany, and Edward H. Johnson, who for many years was associated with Thomas A. Edison. Among others present were Albert Brodin, Reading Iron» Company, . Reading, Pa.; E. H. Frisell, of Milliken Brothers, Inc., Staten Isl- and, and Frank Mossberg, president Frank Mossberg Company, Attleboro, Mass. Ne The American Society of Engineer Draftsmen, ©! which Walter M. Smyth, 116 Nassau street, New York, is secretary, will hold its regular monthly meeting in the Engineering Societies Building, 29 West Thirty-ninth street, at 815 p. m., December 21. C. M. Shigley, © lumbus, Ohio, will read a paper on “Patent Office Draw ing” and William H. Chorlton, of the designing depatt- ment of the American Bridge Company, will lecture 0” “Bridge Drafting from the Engineer’s Point of View. N nber 50, I9II Programme of Mechanical Engineers’ Meeting e professional programme has been announced for nnual meeting of the American Society of Mechanical neers, in the Engineering Societies Building, New York, December 5, 6, 7 and 8. As already mentioned, the ng session occurs on the evening of December 5 and ven over to the presentation of the presidential ad- ; and a general reception and reunion. The regular ness session occurs Wednesday morning; excursions, ding an inspection of the steamship Olympic, are ar- ed for Thursday afternoon, and the annual reunion nor of the newly elected officers will be held Thurs- evening at the Hotel Astor. The programme of papers, requiring simultaneous sessions on Wednesday afternoon and Thursday morning, is as follows: \Vednesday morning: “The Turret Equatorial Tele- ’ James Hartness; “Expense Burden—Its Incidence Distribution,” Sterling H. Bunnell; “Standard Cross- Sections,” H. de B. Parsons. \Vednesday, 2 p. m.: “Tests of Large Boilers at the etroit Edison Company,” D. S. Jacobus; “Strain Meas- nents of Some Steam Boilers Under Hydrostatic essures,”’ James E. Howard; “Herringbone Gears,” P. C. There will be a separate cement session in charge of the ub-committee on cement manufacture. Wednesday, 8.00 p. m.: “Geo-Dynamics, or the Me- chanics of the Formation of Worlds,” address by Dr. Rob- rt Simpson Woodward, president Carnegie Institution, of Washington, D. C. (Thursday, 10.00 a. m.: “The Core Room—Its Equip- ment and Management,” Henry M. Lane; “Tests of a Sand-Blasting Machine,” Wm. T. Magruder; “Die Cast- ings,’ Amasa Trowbridge; “Variable-Speed Power Trans- mission,” G. H. Barrus and C. M. Manly. Thursday, 10.00 a. m., Gas Power Section: “Oil En- gines,” H. R. Setz; “Test of an 85-hp. Oil Engine,” For- rest M. Towl; “Design Constants for Small Gasoline Ea- Wm. D. Ennis; “Natural Gas Engine of iooo Tests, Construction and Working Costs,” E. D. Drey- sand V. J. Hulquist. Friday, 10.00 a. m.: “The Development of the Textile ines Industries of the United States,” Frank W. Reynolds; . Rational Psychrometric Formule—Their Relation te the ’roblems of Meteorology and of Air Conditioning,” W. H. Carrier; “Air Conditioning Apparatus,” W. H. Carrie1 ind F. L. Busey; “Some Experiences with the Pitot Tube High and Low Air Velocities,” Frank H. Kneeland — +-e—___—_—_ Additional Niagara Falls Power Development \ll three of the power companies located on the inadian side of the river at Niagara Falls are making xtensive additions to their plants. The enlarged generat- ing facilities will enable them to increase their power utput to more closely approximate the maximum per- mitted by the government.: The work now in progress will st several million dollars and provide facilities for generating 71,500 additional horsepower. The Canadian Niagara Power Company, the Canadian ranch of the Niagara Falls Power Company on the New irk State side of the river, has under way an addition to s power house which will cost $150,000 and afford facili- in the completed power plant for the conversion into ver of the 11,000 ft. of water per second, which is the ximum it is permitted to divert. This extension will ready next spring, but only one additional unit of »0 hp. will be installed at that time, others being l\led as required. The present plant consists of six 000-hp. units. The greater portion of the power output transmitted to Buffalo. The amount that this company export to the United States is 52,500 hp. [he Electrical Development “Company, all of whose rrent is marketed in Toronto, has just completed an ition to its power house and will soon receive bids for generating equipment. The company is now generat- 50,000 hp. with four generators of 12,500 hp. each, nd three other units of the same capacity each are to be -embled. The company ‘is limited to the development 125,000 hp., while the power development limit of the THE IRON AGE 1171 other companies is fixed by the amount of water diversion permitted te each company. The Ontario Power Company, which is under contract with the Hydro-Electric Commission to supply current to the Canadian Government line, and whose power house is underneath the cliff at Table Rock, has completed a sec- ond delivery pipe 18 ft. in diameter from the Dufferin Islands to the power house, and is at work on the pen- stock extensions. This company, which now has ten 12,000-hp. generators in operation, will add two more of the same size, bringing the total capacity of the plant up to 144,000 hp. The increased revenue to be derived by the Canadian Government from the additional power development will amount to $125,000 and will be devoted to the further beautification of Victoria Park on the Canadian side of the Falls and the completion of the boulevard along Niagara River from Victoria Park to Ft. Erie, opposite Buffalo. The power companies have agreed that all traces of the work of improvement shall be removed by next summer and the park restored to its former condition. a > Improvement in Electric Induction Furnace Linings In the evolution of the electric induction furnace, the production of a suitable lining to withstand the special conditions has presented difficulties. These difficulties re- sulted partly from the shape of the bath, deep as compared with its width, and partly from the strong rolling motion of the charge, both of which make it a difficult matter to overcome troubles due to expansion and contraction’ It may, therefore, be ofinterest to record the results obtained from a long series of trials with a pure induction furnace of the Kjellin type, carried out at the works of the Poldi- hutte Tiegelguszstahlfabrik, Kladno, one of the principal ordnance works in Austria. In January, 1908, the Poldihutte company put into com- mission a Kjellin induction furnace having a capacity of over 4 tons. High class steel was produced by means of the basic process, the lining first used being Veit magnesite. The furnace was not erected on solid foundations, but for special reasons was mounted on a carriage with provision for rotating the body of the furnace in either direction about a vertical axis. This arrangement necessarily al- lowed considerable vibration, which resulted in the produc- tion of cracks in the magnesite lining to such an extent that it was found impossible to obtain more than 49 charges without a renewal. The engineers of the Poldthutte company began experi- ments with various combination linings, with such good re- sults that the average durability obtained during 1909 was 200 charges per lining. The improvement has been con- tinuous, as is shown by the following statement, giving the highest number of charges obtained per lining during each quarter from the commencement of 1910; Charges Ficed: avaster a6 (900. so civices cde decd vot tardiie otc etinedtecs 227 Second Sater O6 199106 cc viisweeas kocsnedecedecansccrentesss 259 Tee WRN OE TOTES chi Scie haben Wav Res ceanne sana anen dt aee 262 Papeete eeeee- et 2910s. sos eke vk6 4s be 6d Re kde kane’ 288 en ee LOREEN EERE CE TE EET EO Oe EAE Oe at 386 See MRO OE TOTS 6 os vinncinsnwdges0s k6csChteeanneedeeen 392 Terre OUENOS OE TUE ii cc pane nome eas ec eee deeiwskeaswcnes 491 It is stated that no repairs were carried out in the lining at the slag line. Patents have been granted in all countries, and the British and American rights are held by the Gron- dal Kjellin Company, Ltd., London. a Admitting compressed air into the gas engine cylinder at the end of the exhaust stroke is proposed in a recent issue of the Zeitschrift des Vereines Deutscher Ingenieure. It is recognized that the residual of the burned gases :re- maining in the cylinder and mixed with the new charge dilutes the fresh mixture, impoverishes it, and generally interferes with the ignition of the charge, unduly elevates the initial temperature, predisposes the motor te premature explosion and affects the efficiency .of operation. The author showed by means of diagrams and figures of a number of tests how the efficiency was increased as the result of the adoption of the valve which admits the air under pressure at the énd of the exhaust stroke, 7 wn ce ao a 1172 THE IRON AGE November 3 IQII The Iron: and Metal’ Markets A Comparison of Prices Advances Over the Previous Week in Heavy Type, Declines in Italics. At date, one week, one month and one year previous. Nov. 29, Nov. 22, Oct. 25, Nov. 30, PIG IRON, Per Gross Ton: wil. 3911. 1911. - 3910. Foundry No. ‘2 standard, Phila DOE Rabe cotewtatasencaces.s $14.85 $14.90 $15.00 $15.50 Foundry No. 2, Valley furnace. 13.00 13.25 13.25 14.00 Foundry No. 2 Southern, Cin- 5 MD 5. ca ceedh bh enas «405% >> ie 13.25 13.25 14.25 Foundry No. 2, Birmingham, Ala 9.75 10.00 10.00 11.00 Foundry No. 2, at furnace, NUT gs sche b kta wee pave-* 1640 14.00 14.35 16.00 Basic, delivered, eastern Pa.... 14.50 14.50. 14.50 14.75 3asic, Valley furnmace......... 12.25 12.35 12.50 13.50 Bessemer, Pittsburgh ...... .. 14.90 14.90 15.40 15.90 Gray forge, Pittsburgh........ 13.25 13.40 3.65 3.90 1 13 Lake Superior charcoal, Chicago 16.50 16.50 16.50 18.00 COKE, CONNELLSVILLE, Per Net Ton, at Oven: Furnace coke, prompt shipment 1.50 1.55 1.50 1.45 Furnace coke, future delivery.. 1.60 1.65 1.55 1.70 Foundry coke, prompt shipment 1.85 1.90 1.80 2.00 Foundry coke, future delivery. . 2.10 2.10 2.00 2.10 BILLETS, &c., Per Gross Ton Bessemer billets, Pittsburgh.... 19.00 19.00 20.00 23.00 Open-hearth billets, Pittsburgh 18.50 18.50 19.00 23.00 Forging billets, Pittsburgh. sea 24.00 24.00 24.00 28.50 Open- hearth billets, Philadelphia 21.40 21.40 21.40 25.50 Wire rods, Pittsburgh....... 25.00 25.00 26.00 28.00 OLD MATERIAL, Per Gross Ton: Iron rails Chicago............. 14.50 14.50 13.50 16.00 Iron rails, Philadelphia......... 15.50 15.50 16.00 18.00 Car wheels, Chicago........ . 12.50 12.00 12.50 13.50 Car wheels, Philadelphia...... 11.50 11.25 11.75 13.75 Heavy steel scrap, Pittsburgh.. 12.00 12.00 12.00 14.25 Heavy steel scrap, Chicago..... 9.50 9.50 9.50 12.25 Heavy steel scrap, Philadelphia 11.50 11.50 11.75 13.00 FINISHED IRON AND STEEL, Per Pound to Largest Buyers: Cents. Cents. Cents. Cents. Bessemer rails, heavy, at mill. 1.25 1.25 1.25 1.25 Iron bars, Philadelphia........ 1.20 1.20 1.20 1.35 Iron bars, Pittsburgh. . 7 Se 1.20 1.20 1.20 1.40 Oe See 1.15 5.29 1.15 1.35 Steel bars, Pittsburgh.......... 1.05 1.05 1.10 1.40 Steel bars, tidewater, New York 1.21 1.21 1.26 1.56 Tank plates, Pittsburgh......... 1.10 1.10 1.15 1.40 Tank plates, tidewater, New York 1.26 1.26 1.31 1.56 a 1.10 1.10 1.20 1.40 Beams, tidewater, New York.. 1.26 1.26 1.36 1.56 Angles, Pyttipurgh .......00%* 1.10 1.10 1.20 1.40 Angles, tidewater, New York... 1.26 1.26 1.36 1.56 Skelp, grooved steel, Pittsburgh 1.12% 1.12% 1.15 1.25 Skelp, sheared steel, Pittsburgh 1.20 1.20 1.25 1.30 SHEETS, NAILS AND WIRE, Per Pound to Largest Buyers: Cents. Cents. Cents. Cents Sheets, black, No. 28, Pittsburgh 1.85 1.85 1.85 2.20 Wire nails, Pittsburgh......... 1.50 1.55 1.60 1.70 Cut nails, Pittsburgh.......... 1.45 1.50 1.50 1.60 Barb wire, galv., Pittsburgh... 1.85 1.85 1 90 2.00 METALS, Per Pound: Cents. Cents. Cents. Cents Lake copper, New York...... 13.25 13.00 12.62% 13.00 Electrolytic copper, New York. 13.12% 12.87! 12.50 12.871! peer, St. LOG... .c.cces . 6.80 6.60 6.20 5.80 Spelter, New York...... 2S ita 6.75 6.35 5.95 came. we, LOU. osc cps : .. 4n5 4.273 4.15 4.40 Lead, New York...... camer 1.45 4.35 4.25 4.50 Tin, New - York... eae .. 45.25 43.35 42.05 37.35 Antimony, Hallett, New York 7.60 7.65 7.70 7.75 Tin plate, 100-lb. box, New York $3.64 $3.64 $3.64 $3.84 *The average switching charge for delivery to foundries in the Chicago district is 50c. per ton. ++ ——_—__—. Prices of Finished Iron and Steel f.o.b. Pittsburgh Freight rates from Pittsburgh in carloads, per 100 Ib. New York, 16c.; Philadelphia, 15c.; Boston, 18c.; Buffalo, 11c.; Cleveland, 1oc.; Cincinnati, 15c.; Indian- apolis, 17c.; Chicago, 18c.; St. Paul, 32c.; St. Louis, 22\%4c.; New Orleans, 30c.; Birmingham, Ala., 45¢.; Pa- cific coast, 80c. on plates, structural shapes and sheets No. 11 and heavier; 85c. on sheets Nos. 12 to 16; 95c. on sheets No. 16 and lighter; 65c. on wrought pipe and boiler tubes. Plates.—Tank plates, %4 in. thick, 6% in. up to 100 in. wide, 1.10c. to 1.15c., base, net cash, 30 days. Following are stipulations prescribed by manufacturers, with extras: R-ctengular plates, tank steel or conforming to manufacturers’ standard specifications for structural steel dated February 6, 1903, or equivalent, % in. thick and over on thinnest edge, 100 wid and under, down to but not including 6 in. wide, are base. Plates up to 72 in. _ Wide, inclusive, ordered 10,2 Ib. per foot, are considered }4-in. plates. Plates over 72 in. w must be ordered % in. thick on edge, or not less than 11 Ib. : foot, to take base price, Plates over 72 in. wide ordered. 11 Ib. per square foot down to the weight of 3-16-in. take of 3-16-in. Allowable overweight, whether plates are ordered to egauve o; weight, to be governed by the standard specifications of the Acsocia. tion of American Steel Manufacturers. Extras. Cents per lb. Gauges under % in. to and including 3-16 in. on thin MEE CORR. 2 deus awed screenees deaee bee ee esie < Gauges under 3-16 in. to and including No. 8........ Gauges under No. 8 to and including No. 9.......... Gauges under No. 9 to and including No. 10.......... Gauges under No. 10 to and including No. 12....... Sketches (including all straight taper plates) 3 ft. and over i DUR OF nib oes s ove WRRENE thes oN eOR KK ve 0 Complete circles, 3 ft. in diameter and over......... ) Boller. nmi Tee BOG. cba seb 006 60 F cee seek ess 0 “A. B. M. A.” and ordinary firebox steel............ Beetl BON WARES oo cae dees dWadnkar ec Saeed eek <s 0 MERSIN: WONG) oi ev dod evs 0d bw d 624 ORROAR RARE 6 se Locomotive Gediiets Geek. cics . obcind diss Shndeeecak ae «wid 50 Widths over 100 in. up to ‘11 i 5 Widths over 110 in. up to 115 g MCUUEUS Gccca cscs .10 Widths over 115 in. up to 120 in., inclusive.......... 15 Widths over 120 in. up to 125 eee |: Widths over 125 in. up to 13 » MABECUOVE, 2... 6.50. 50 Widthe over 1430 Bhi csiic eta Fiiis aa S ae peace Anes 1,00 Cutting to lengths or diameters under 3 ft. to 2 ft., in- CHIE ns 0c.cd octaves an ihee> wéa bee RS bee eEE Bees se 02 5 Cutting to lengths or diameters under 2 ft. to 1 ft., in. GUE OD..0 0 09.00.04 ved SSR ee hh E Sohne eel eas 4es 50 Cutting to lengths or diameters under 1 ft............ 1.55 No charge for cutting rectangular plates to lengths 3 ft. and over Structural Material.—I-beams, 3 to 15 in.; channels, 3 to 15 in., and angles, 3 to 6 in. on one or both legs, 1% in. and over, I.10c. to 1.15c. Other shapes and sizes are quoted as follows Cents per Ib. Icbeame ovet 25: ihc. . odvceadscdenndusdaae 1.15 to 1.20 H-beams. owe? FB Wines cccscccceseuaseepnenaae 1,25 to 1.30 Angles over 6. iBiics cisci cause Gude een oseteae 00 1.20 Angles, 3 in. on one or both legs, less than 4 in. thick, plus full extras, as per steel bar card Gept. 1, F000. 65 is cieecs cadvvletamen *,..-1.18 to 1.20 Tees, 3 tn. amd Wii ici cost ccncinecsces eee 1.15 to 1.20 Lees, $ im. a@ Qi. oeancicssoedasss0esneneeeee 1.10 to 1.15 Angles, channels and tees, under 3 in., plus full extras as per steel bar card Sept. 1,’ 1909.1.15 to 1.20 Deck beams acd BURe BRR + 0.5 60s Kes Ucenee es 1.40 to 1.45 Feed call (008 jess viseveuses odeeisweemedun 1.95 to 2.10 Checkered and corrugated plates............... 1.95 to 2.10 Sheets.— Makers’ prices for mill shipments on sheets of U. S. standard gauge, in carload and larger lots, on which jobbers charge the usual discounts for small lots from store, are as follows: Blue Annealed Sheets. Cents per Ib Nos. 3 OB. seas s's innecade Csaectucshenwweree 1.25 to 1.30 Nos, 9.006 101.40 <5 scanscsce acess ban eee 1.35 to 1.40 Mos 20 ORE 1B. cdc cecdasasdscdntuuarneeern 1.40 to 1.45 Wook. 43 pee Bb is icevscas conde ep vans sn 1.45 to 1.50 OS, 25 OG. BOs oiis0k wacis dudas ees caeieneee 1.55 to 1.60 Box Annealed Sheets, Cold Rolled. One Pass. Three Pass. og, 20 Ne Be. a a ak 1.50.60 Eee; sage bees ee eee: 33) Gee 34. S. wie ness 1.53 te B60! ee ayew'es- : Nos: 43 ott 86.0 ssicxcew abs 1.60 to 1.65 1.70 to 1.75 Noe, 17 $0: Bhss<cndsdnssnowe 1.65 to 1.70 1.75 to 1.80 Nos. 32. 2S ome B45 4550246 1.70 to 1.75 1.80 to 1.85 Nes: 25. aad 36.51. .0er ose 1.75 to 1.80 1.85 to 1.90 NG. Sy - ‘ss wees Gaeee eee 1.80 to 1.85 1.90 to 1.95 No. 2B .sscasas scene 1.85 to 1.90 1.95 to 2.00 mG, BR sscadacedcacteueeeeas 1.90 to 1.95 2.00 to 2.05 NO: 2R. <ccxeckateebecsees 2.00 to 2.05 2.10 to 2.15 Galvanized Sheets, of Black Sheet Gauge. Nos, 80 and Ba ic iscdaes covgertddenvecsuaneeee 1.85 to 1.90 Noe, 22. 23: Gi, 86. oc 6s ack o%.s canes 4a0 eee 1.95 to 2.00 Woe, 25, 26 BG 28 ocd cpctcae s vilbaclan varue eee 2.10 to 2.15 Nom, 86/00 Baik i iiss vei Vel fivc cece ae 2.25 to 2.30 Nes.. 23 and . 26. o...0cenees's tos dae eee 2.35 to 2.40 Nos. 29 GO Qbis ciccccensiwteeivs + tater 2.55 to 2.60 NO. BF Si ccccccccbavcs ste ys eee ws 5 eau 2.70 to 2.75 No, BD ov.ccwdske'avepbawensd Ladhecitens ane 2.85 to 2.90 Ne. Bo -ccivae ierne este sane¥cts wakes 2.95 to 3.00 No. 90 sic ced s vance Soeeae deeecees Cea ee 3.15 to 3.20 All above rates on sheets are f.o.b. Pittsburgh, terms 30 days net, or 2 per cent. cash discount in 10 days from date of invoice, as also are the following base prices pet square for painted and galvanized roulae sheets, with 2\4-in. corrugations. Corrugated Roofing Sheets, Per Square. Gauge. Painted. Galvanized. | Gauge. Painted. Galvanized. one ae $2.30 PR $2.35 $3.45 A $1.30 2.45 Wee, Ooh 2.55 3.65 SF 1.45 2.50 WM sic ces 2.75 4.00 Ba deeca 1.55 2.60 Bands ine 3.00 4.30 Bis 1.80 3.00 BS ea Gm . 4.00 5-63 ee 2.05 3.10 OO. w<xare 4.85 6.49 \. ,ember 30, 1911 Wire Rods and Wire.—Bessemer, open-hearth and rods, $25. Fence wire, Nos. 0 to 9, per roo Ib., . 60 days, or 2 per cent. discount in 10 days, car- lots, to jobbers, annealed, $1.30; galvanized, $1.60. ad lots, to retailers, annealed, $1.40; galvanized, ¢ Galvanized barb wire to jobbers, $1.80; painted, g Wire nails, to jobbers, $1.50. he following table gives the price to retail mer- ts on wire in less than carloads, including the ex- in Nos. 10 to 16, which are added to the base price: Fence Wire, Per 100 Ib. 0 to 9 10 11 12&12% 13 14 15 16 led ...$1.50 $1.55 .$1.60 $1.65 $1.75 $1.85 $1.95 $2.05 nized .. 1,80 1.85 1.90 1.95 2.05 2.15 2.55 2.65 Wrought Pipe.—The following are the jobbers’ car- discounts on the Pittsburgh basing card on ught pipe, in effect from October 2, 1011: Butt Weld. ——Steel——, ——-Iron —}, olack, Galv. Black. Galv. ( end: 34. Bier ive cu apeteee 73 53 68 48 IS. da ekee Peek bhiees tn cee 74 64 69 59 MS, ccna Wasa s We wma es an 77 67 72 62 , to 1% Did Sect dak eres ce 80 72 75 67 to & teins nowes & eebatewas 81 74 76 69 Lap Weld. nen Te Be reas ke a bina a so 68 61 itl. = 6 dd eai ba. akewse tne s cua 77 70 72 65 te 4:30 bs vik hal beac eee 79 72 74 67 te Gis call'de casas eate 78 70 73 65 to 19 WRiss sks as tebe bas 76 66 71 61 to 15 Beidein sec wcigav de 52 i 47 ae Butt Weld, extra strong, plain ends, card weight 6. 36, BB Wivewkvaseretesan 70 60 65 55 iS. dcdneeseuebethesweaehe 75 69 70 64 [ to. £96 \ilactintedyvacvaeas 79 73 74 68 to 3 Ghesewosdh eked sawdan 80 74 75 69 Lap Weld, extra strong, plain ends, card weight, id. os 6S as geen ce bees ““s ‘a 66 60 N. sdosetevurebehies suse 76 70 71 65 to 4 PR cies veces vues 78 72 73 67 to: G1 scuviias cheteiads 77 71 72 66 7 to 8 BBev dc cdeceswesans-cee 70 60 65 55 to 13° Mii os chan c¥ecswecek 65 55 60 50 Butt Weld, double extra strong, plain ends, card weight. ih. as'b sw enes 6640 Neder 65 59 60 54 to 166 i thite wenn ee deca 68 62 63 57 te 32 Me eteseteeiccsutvas 70 64 65 59 Lap Weld, douwble extra strong, plain ends, card weight. ilk, oo'« 94s eheweasecinaeneen 66 60 61 55 . tO SRE Pe a eeebueeesee 68 62 63 57 00-6: GB ce csteececadves 67 61 62 56 to ©. Gi Sis. caves i asaewee 60 50 55 45 Plugged and Reamed., | will be ond at tue (2) ‘ m . points lower basing igher oie “4 3 oe wot price) than merchants’ or + </a O: Seer P card weight pipe. Butt or lap weld as specified. The above discounts are for “card weight,” subject to the usual tion of 5 per cent. Prices for less than carloads are three (3) ts lower basing (higher price) than the above discounts. Boiler Tubes.—Discounts on lap welded steel and harcoal iron boiler tubes to jobbers in carloads are as llows: Steel. Charcoal Tron. 2 Wh cbiee ceweoun 65 BR Si oa ann nade cm Capea 48 oo ndbee We eey ante ace ee 67% Be Oe Oe vend caneeaneene to 3% Misi kh eee 72% Be EN Phe br bss t+ ¢ cubed wee to 4 Whiist. ti deriasens 75 Be Oe OR oo obi c cn bps eons 60 6 itis iveiven eek hae 67% to 13 WMisicpeveweneeane 65 2% in. and smaller, over 18 ft., 10 per cent. net extra. -4% in. and larger, over 22 ft., 10 per cent. net extra. Less than carloads will be sold at the delivered ‘discounts for car- ls, lowered by two points for lengths 22 ft. and under to desti- tions east of the Mississippi River; lengths over 22 ft. and all pments going west of the Mississippi River must be sold f.o.b. at Pittsburgh basing discounts, lowered by two points. —_> +o __ -— Pittsburgh TSBURGH, Pa., November 29, 1911.—(By Telephone.) Pig Iron.—The very low prices on basic iron, which reported to have sold recently as low as $12.15, Val- ley furnace, have induced large purchases, and some cavy inquiries are in the market. A local steel com- pany, that has not been a buyer of pig iron for several ears, is asking for 25,000 to 30,000 tons, and may pos- sibly buy 50,000 tons if the iron can be had for the cliveries wanted and at the right price. Another local steel interest, that has been