stock are operating at about 80 per cent of capacity, against only about 60 per cent 30 days ago, and attribute the increase in their business chiefly to demand from the automobile trade. Their orders for bars are the best the bar mills are receiving.

Apart from these classes of demand, there is approximately a normal volume of demand for steel products from jobbers and from many classes of manufacturing con

sumers.

WHERE DEMAND IS LIGHT

Where demand is light is among the railroads, the shipyards and investors generally who engage in large construction undertakings. There is practically no railroad demand at all. Even the 300,000 tons of rails it was reported several weeks ago the Railroad Administration would order, to round out its work for the year, have not appeared in the market. There would be no other buying of importance by the Railroad Administration, and the question is when the railroads will be placed in position to know what they will be justified in doing by way of improving their facilities, and what they will do when their position has been assured. While operating control of the roads is likely to be restored to the owners about Aug. 1, with the Government guarantee as to earnings running to the end of the year, the conditions under which the roads will operate in future, as to freight rates and the credit they can command, await action by Congress. The steel trade is of the impression that when railroad buying begins it will run rather to material needed for extensions of road and improvement of terminals than to freight cars.

Shipbuilding is at a greater rate than ever before, probably at between 600,000 and 700,000 tons deadweight per month, involving the consumption of 200,000 to 250,000 tons of steel, chiefly plates, per month, but the demands upon the mills are not in keeping, because stocks of steel at shipyards are being drawn upon.

IMPROVEMENT IN CONSTRUCTION WORK

In construction work there is a steady improvement, as has been shown by the monthly returns of the Bridge Builders' and Structural Society and by various detached pieces of information as to contracts lately let or about to be let, but the pace even at this date is far below normal. It is true that much "building" activity is reported from practically all sections of the country, but this building runs largely to dwelling house construction and repair work generally. It is not, in general, the class of building that involves the consumption of much steel. As a matter of fact the activity is unfavorable to the steel industry rather than favorable, because with the supply of labor limited and also the supplies of some classes of material the facilities are pre-empted and construction work involving the use of large quantities of steel may be discouraged or postponed. The basic principle is that there is several years of work to be done, and the more pressing work will delay the less pressing. Thus dwelling houses will take precedence over bridges and skyscraper hotel and office buildings.

STEEL PRICES

The steel prices that became quotable March 21 are now firmly established. A considerable proportion of the steel bought in May and the fore part of June was at cut prices, though throughout the period the March 21 prices were regarded, generally speaking, as "the market." In the past few weeks this shading has been diminishing and it is now of very small proportions, except in plates, which present a relatively hopeless case, capacity being in excess of any easily conceivable demand. The condition has so changed that there is now no fear of any general decline in the market, while on the other hand, there are predictions in some quarters that advances in some lines will occur in the near future. It has now become generally known that the Steel Corporation some time ago adopted a definite policy, setting itself against any steel price advances, this year at least, and the question remaining is whether the independents in any line will be willing and able to engineer an advance of their own, thereby decreas

ing their prestige among buyers and forcing the Steel Corporation to choose between picking its customers or becoming badly oversold.

In view of the course the steel market has frequently pursued in the past, the maintenance of the general price level during May and June was remarkable. Many producers, including the Steel Corporation, refused absolutely to cut prices, being willing that mills disposed to cut should fill up. This forbearance was due in part to recognition of the fact that the business left on mill books at the conclusion of the war was very irregularly distributed, so that in the early months of the year some mills had been forced to operate at much lower rates than others. Thus it was only fair that mills should be allowed to buy their way into the market, while if the cuts had been met generally the sequel would simply have been additional cuts.

PIG IRON

The pig iron market has become well established. For several months consumers had been extremely desirous of reducing their stocks, and this policy was pursued to such length that many consumers found themselves with stocks far below normal, some with no stocks at all. Α buying movement due partly to this situation and partly to increased consumptive requirements began the latter part of May. This movement appears now to have run its course, but it has left the furnaces that are in blast fairly well sold up, a few furnaces being sold up practically to the end of the year. The competition among districts has practically disappeared and prices in all districts are now on a fairly stable basis, with scarcely any prospect that prices will decline in the near future and a bare possibility that they will advance before the end of the year. An advance, however, is somewhat improbable so long as there are many idle furnaces, and should demand develop these furnaces would doubtless sell at the market, or a shade lower, to accumulate backlog business upon which to blow in.

The Chemical Market

New York, July 11, 1919. Following the recent advance of caustic soda to $3.30 per cwt., the United States Alkali Export Association last week raised the quotation on light 59 per cent soda ash to $1.90.

Muriatic acid is gaining strength in the market although as yet no quotable change is announced. Dyestuff manufacturers are the principal buyers on the domestic end with Cuba still the main export source. Another acid which is feeling the general improvement is sulphuric, quantities of it being shipped to South America, whence emanates also a good inquiry for caustic soda.

Heavy sales of potassium carbonate are reported, most of it going for export. Stocks of potassium prussiate, yellow, are limited. The market is, therefore, advancing, now being 30-35c. per lb., an increase of 3c. Sodium prussiate, yellow, is in the same category. After a drop to 25c. per lb. last week, dearth of supply has brought the quotation up to the previous level of 35c.

Manufacturers are quoting citric acid at 98c. per lb., but find it difficult to deliver because of short stocks. Second hands are quoting $1.05 per lb.

OILS With no oil available in quantities until August, business in linseed oil is practically at a standstill. Quotations on raw linseed oil in carlots, August delivery, range from $1.90 to $2.14 per gal. against $1.88-1.90 at last writing. Other vegetable oils are similarly situated, and the market is highly speculative. Thus far the signing of the peace terms has had no particular effect on trading, but as soon as Germany and Austria call for their badly needed fats further advances are to be expected.

Menhaden fish oils are reported scarce for spot but satisfactory for futures. The catches have been good, but the fish are lean and yield little oil. Soap, paint and varnish manufacturers are the heavy domestic users, while requests from Europe continue to be general. Winter pressed Menhaden is now quoted at $1.20-$1.25 per gal. against $1.10 two weeks ago.

COAL-TAR PRODUCTS-Among the crudes, benzol, solvent naphtha and toluol are the most active. Benzol continues in heavy request by rubber-tire manufacturers. Aniline oil is perhaps the strongest item among the intermediates. Nearly all manufacturers have their production for this month sold and few are offering any for sale during the remainder of the year. Japan is buying aniline oil and dimtheylaniline in quantities. Salicylic acid-which has been selling below the cost of production-has advanced five cents, to 25c. per lb. in carlots for the technical grade, owing to resale lots being off the market. It is rumored that the Government has on hand something like 20,000,000 lb. of phenol which will be turned over to two leading manufacturers for disposal at a figure officially fixed. Paratoluidine, H-acid and alpha-naphthylamine are having good sales, with ortho-toluidine and ortho-nitro-toluol beginning again to show signs of activity.

All heavy chemicals have either advanced a little or remained steady, coal-tar products show no fluctuation, vegetable oils are all up sharply and naval stores and flotation oils are in great demand at prices that seem very high.

HEAVY CHEMICALS-Caustic soda and soda ash, under the impetus of fairly heavy export orders to the Orient, are held strictly at market figures; caustic being quoted at 3c. to 31c. works for the solid and 4c. for the granulated, ash at 2c. Bleaching powder (calcium hypochlorite) is still quoted at 2c., with indications pointing to an advance.

Sulphuric acid is in heavy demand, sales being made at from $18 to $19 for 66-deg. Stocks of this staple are low, a combination of labor trouble and high cost of raw materials tending to curtail production. Muriatic acid is moving freely at $22; nitric, while not in such heavy demand, is quoted at 101c. for 40-deg.

Potassium carbonate is expensive, because of dealers' stocks having been absorbed by export orders, the effect being a rise from the 13c. four weeks ago to 22c. to-day. Sodium nitrate is changing hands at $4.25 for crude, $5.60 for double refined, the demand being ordinary.

COAL-TAR PRODUCTS-Slight tendency of prices to stiffen is the only notable feature in this line, 90% Benzol being quoted at 25c. to 26c., 100% at one cent higher. Solvent naphtha is quoted at 24c. and commercial xylol at 26c. No changes of moment are noted among the intermediates, trading in the entire coal tar line being merely normal.

VEGETABLE OILS-Recent sharp advances have had a decidedly repressive effect on sales, users limiting their purchases strictly to current requirements. All sales are of spot stock for immediate delivery, and it is unlikely that contracts will be placed at current figures.

Soya bean oil is quoted for July-August delivery in Chicago at 18c., cocoanut oil, Manila, at 181c., sellers tanks. China wood oil brings 24c. in less than car lots, spots and futures being offered in cars at 21c. A definite shortage seems to have developed in corn oil, stocks going freely at 21c. and sellers tanks from the West at 19c. Cotton oil shows little activity at 25c. An advance in palm oil has

been prevented by expected receipts from Europe, price being 171c.

FLOTATION OILS, NAVAL STORES-Naval stores are rising in price so rapidly that sales are being curtailed. Pure steam distilled pine oil is now held at 85c. in carloads, 90c. for less, for .933 test, an advance of 7c.-68c. to 75c., in car lots. Pine tar oil remains at 36c.

Turpentine continues to fluctuate between $1.05 and $1.10, the demands of consumers being sufficiently heavy at this figure to prevent any early decline in price. Stocks are reported to be very short.

St. Louis, July 10, 1919.

HEAVY CHEMICALS-An almost insatiate demand for sulphuric acid on the part of the fertilizer manufacturers and for niter cake on the part of the steel manufacturers is the outstanding development of the past two weeks. Producers report that while there are sufficient supplies of both these chemicals (and probably will be throughout the year) such large quantities are being contracted for and inquiries are so numerous that it is difficult to understand where the heavy tonnages sought for are going.

The only important price change reported since the last review is a 50c. per ton advance in 60% sulphuric acid, which is expected to result in an upward change in the price of other grades. An indication of the proportions the demand for 60% sulphuric is assuming may be had in the fact that one of the buyers in the local market has just closed a deal on the basis of an annual consumption of 15,000 tons as compared to a consumption of 4,000 tons last year, while another deal was consummated involving delivery of 100 tons monthly to a consumer who heretofore has required only 400 tons yearly. The 66%-grade is less active, the price still being $18 a ton. There is no change in the market for oleum.

Word is brought here by men in close touch with the fertilizer industry that because of the depletion of farm lands during the war, through the lack of commercial fertilizer, an unprecedented demand for fertilizers of all sorts now exists and is likely to continue for some time.

Muriatic Acid is not moving very rapidly, the price remaining at $22 a ton for 18%. Sodium sulphate (salt cake) has been selling heavily to glass manufacturers at $16.50 to $18, the former for heavy-tonnage contracts. There is more than a plentiful supply of salt cake, but from the manner in which the glass industry is preparing for the season to open on Aug. 15 it is expected present prices will remain firm.

Sodium bisulphate (niter cake): Steel manufacturers who because of the scarcity of sulphuric acid during the war turned to niter cake for steel-pickling purposes will continue to use that chemical in place of sulphuric acid. Heavy sales of niter cake for this purpose are reported at $3.50 to $4 a ton. These prices are said to be representative of the market, the higher prices quoted in the last report representing special sales.

Nitric acid is the one item in the heavy chemical market in which a price decline is looked for. It is expected to occur on Aug. 1, due to the decline in the price of nitrate of soda. What little business is being done in this branch of the market is reported on the basis of 10c. to 10 c. per lb. for the 38° Baumé grade.

Zinc chloride is moving in heavy tonnage out of the local market to the tie-treating centers. As in the case of sulphuric acid, some consumers are trebling their normal requirements of zinc chloride. One transaction is reported involving a monthly shipment of 700,000 lb. to a plant which hitherto has been using only 140,000 lb. The price is firm at 4c. per lb. for the 50% solution, which is the only grade in which business on a large scale is being done here.

Zinc oxide was again quoted on formally by Mid-West producers, on July 1, but unlike previous announcements the list is subject to change without notice, though contracts are being written for delivery over the remainder of the year at the current prices, 8c. to 9c. per lb., according to lead sulphate content, in car lots; half a cent higher for smaller quantities.

Co., East St. Louis, Ill., has acquired 227 acres near here and plans to build an aluminum ore refinery. Esimated cost. $1,000,000. C. E. Rudisill, c/o owner, engi

neer.

Maryland

CUMBERLAND-The American Cellulose Chemical Manufacturing Co., Ltd., plans to build an addition to its plant. Estimated cost, $1,000,000.

Massachusetts

PALMER--The Wire Clinton-Wright Co., Hammond St., Worcester, plans to build a 1-story steel plant here. Estimated cost, $100,000.

TURNERS FALLS-The Esleeck Manufacturing Co. plans to build a 5-story addition to its paper manufacturing plant here. Esimated cost, $75,000.

Michigan

DETROIT-The Detroit Seamless Tube Co., 841 West Jefferson Ave., has awarded the contract for two 1-story, 90 x 550-ft. additions to its plant, to be equipped with modern machinery for the manufacture of steel tubes, to A. A. Albrecht & Co., 1130 Penobscot Bldg. Estimated cost, $1,700,000.

Missouri

MACON-W. H. Martin, city clerk, has awarded the contract for the construction of a sewage disposal plant, to W. McClurken, 3807 Westminster Ave., St. Louis. Estimated cost, $16,000.

ST. LOUIS-The St. Louis Surfacer & Paint Co., Arlington and Terminal R.R., has awarded the contract for the construction of a 2-story, 28 x 47-ft. factory at 5438 Hazel St., to the W. R. Wilson Building Co., Odd Fellows Bldg. Estimated cost, $10,000.

WACO-The Union Metal Mines Co. plans to build a new concentrating mill at its mine in Waco Field, Kan., and is in the market for material for same. P. B. Bitler, general manager. WEBB CITY-The Orange Mining Co. plans to enlarge its plant in every department and is in the market for crushers, rolls, hoists and compressor. H. H. Wallower, supt.

Montana

HELENA-The State Board of Examiners will soon award the contract for the construction of a laboratory for the Board of Health. Haire & Link, Power Bldg., architects. Noted April 1. Nebraska

LINCOLN-The Lincoln Paint & Color Co., 811 M St., will rebuild its 2-story, 50 x 80-ft. paint factory recently destroyed by fire, entailing a loss of $25,000.

New Jersey

a

TRENTON-The city plans to build sewage disposal plant. Estimated cost. $500,000. J. R. Fell, 134 North Montgomery St., engineer.

TRENTON-The Hamilton Rubber Co.. Clinton and Mead Sts., has awarded the contract for the construction of a 3-story. 75 x 75-ft. plant, to Aitken & Bebbington, 115 South Stockton St. Estimated cost, $20,000.

TRENTON-The Luzeren Rubber Co.. Muirheid Ave., has awarded the contract for the construction of a 2-story, 50 x 75ft. addition to its rubber plant, to N. A. K. Bugbee Co., 204 East Hanover St. Estimated cost, $13,000.

Co.,

TRENTON-The Stokes Rubber Taylor St., has awarded the contract for the construction of a 1-story, 50 x 100-ft. addition to its plant, to N. A. K. Bugbee Co., 204 East Hanover St. Estimated cost, $8500.

New York

ALBANY-Dr. H. M. Biggs, Commissioner of Health. State Department of Health, Capitol, Albany, will receive bids

until July 22 for installing apparatus and equipment in the laboratory building here. to include experimental extractions and distilling apparatus, water stills, autoclaves, etc. Estimated cost, $6000.

POUGHKEEPSIE-The State Hospital Commission, Capitol, Albany, has awarded the contract for altering and building additions to the water supply system at the Hudson River State Hospital, here, to the Baker-Dunbar-Allen Co., Stock Exchange Bldg., Philadelphia, Pa. Plans include installing additional filters, etc. Estimated cost, $52,000. Noted June 1.

North Carolina

CLINTON-The Sampson Oil & Fertilizer Co. plans to build a fertilizer factory. Estimated cost, $75,000. American Machine & Manufacturing Co., Greenville, S. C., architect.

Ohio

CLEVELAND-The Cleveland Electro Metals Co., 421 Guardian Bldg., has awarded the contract for the construction of a 2-story, 40 x 50-ft. addition to its factory at 2391 West 38th St., to the Drummond Miller Co., 422 Guardian Bldg. Estimated cost, $6000.

CLEVELAND-The Crucible Steel Castings Co., Canel Rd. and Champlain Ave., plans to build a 2-story, 125 X 300-ft. factory on Almira and Denison Aves. Estimated cost, $100,000.

CLEVELAND-The Ideal Tire & Rubber Co., East 17th St. and Euclid Ave., plans to build a 3-story, 100 x 200-ft. addition to its factory on Warren Rd. Estimated cost, $125,000.

CLEVELAND-The Vitreous Enameling Co., 6800 Grant Ave., has awarded the contract for the construction of a 1-story. 90 x 120-ft. factory on East 71st St. and Grant Ave., to W. Dunbar Co., 8201 Cedar Ave. Estimated cost, $35.000.

CLEVELAND-The National Copper & Smelting Co., Rose Bldg., plans to build a 3-story, 75 x 240-ft. factory on Babitt Rd. and Nickelplate Ry. Estimated cost, $25,000.

COLUMBUS-The Timkin Roller Bearing Co., Dueber Ave., Canton, has acquired a site and plans to build a 300 x 500-ft. branch plant here. Estimated cost. between $1,000,000 and $1,500,000. H. H. Timkin, president.

DAYTON-The Dayton Steel Co., Howell and Parker Sts., plans to build a factory for the manufacture of fabricated structural steel and bridges. Estimated cost. $35,000.

Pennsylvania

PHILADELPHIA-Firth & Foster, Emerald and Foster Sts., have awarded the contract for the construction of a 1-story, 64 x 68-ft. dye house, to F. A. Havens Co., 845 North 19th St. Estimated cost, $20,000.

PITTSBURGH-The Basic Mineral Co., 834 Columbus Ave., N. S., is having plans prepared by Leffler & Schubert, architects, North Side, for the construction of a 2story, 75 x 75-ft. addition to its plant on Columbus Ave., for the manufacture of flux and deodorizer for melting metals. Plans include laboratory, mill and electric furnaces. Estimated cost, $25,000.

WILLIAMSPORT-The J. K. Mosser Tannery Co., a subsidiary of the Armour Leather Co., Newberry, will soon receive bids for the construction of a 6-story, 150 x 196 x 202-ft. tannery, on Arch St., here.

South Dakota

DEADWOOD-The Capital Gold Mining & Milling Co., 405 Brandies Theatre Bldg.. Omaha, Neb., plans to build an air compressor plant, power line, etc., and is in the market for complete equipment. Estimated cost, $10,000. R. M. Harrop, general manager.

Tennessee

COLUMBIA-The Victor Chemical Co.. Fisher Bldg., Chicago, Ill., plans to build a chemical plant near here. W. B. Brown. vice-president.

Washington

KELSO-The Union Oil Co. of California, Mills Bldg., San Francisco, has purchased a site and plans to build an oil distributing plant, including one 20.000gal. distillate tank, one 20.000-gal. gasoline tank and one 20,000-gal. coal oil tank, at North Kelso. C. C. Ireland, representative.