New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-03-28
IRON AND STEEL CONDITIONS

The Iron As" says.
Specifications for steel products are SHOW
ing continued increase, having, no dount,
been stimulated ty tho generally msher
prices which manufacturers are a-flNt
Another Influence operating I'm this dlr''-
fion is that manufacturers are insisting on
Con.racts terminating on the date Of ma
turitv instead of unspeC!ted portions btIns
carried over at old low prices. Rate OF op"r-
alton among Pittsburgh steel mills ana DINER
manufacturing plants Is stedcllN pelOInlh-
higher The Carnegie Steel Company -
now operating "a per cent Of its blast iui-
mace capacity. apd practically ~, pei cent
sof its steel-making capacity PRODUCTION 1i
all kinds OF iron and steer TINS moh'n VIII
undoubtedly break records
Threatened labor troubles cloud the I'M
mediate future with uncertainty. Rejection
nv fiftv Eastern railroad companies oil me
demand for higher wages by locomotive On
gineers may possibly bring about a STRIKE
II the members Of the brotherhood, 20
whom the question is 10 be referred, should
vote I'm favor Of ono. Coal operators ana
miners have not vet come to an agreement,
and April is close at hand. iron ana
steel manufacturers do not seem 10 be ois-
turbed over this outlook, but take the stu
alton with cumplaCency They are operat-
ing on contracts which bring them 20 lit
tie profit that a Curta'lment or production
by enforced suspension OF work IL looked
upon as likely 20 bring about better dc
nand and improved prices after the labor
troubles shall have been settled.
II Is not expected that the reduction IN
pig iron or finished iron and steel. Pig
iron prices have for some considerable time
discounted lower costs OF ore. while, IN
the other hand coke Is so much dearer as
to offset considerably the reduction In ore
When prices were cut on steel products
in November and December. no attention
was then given To tho relation between the
cost OF ore and the selling price OF steel
products.
THE Iron Trade Review" says.
important and far-reaching results are
expected 10 follow two events OF the last
few days, the reduction IN quotations or
Lake Superior ores and the ending of the
rebate cases growing out Of the handling
Of orc at lower lake docks. Lower prices
on ore will be q factor tending TO inhu-
ence the market TO recede 10 lower levels
for deliveries after July J. but If genuine
prosperity should come TINS year II would
be n far greater factor and would com
pletely overcome the influence OF low prices
on ore In rebate cases. technicallty, DIS
guised in the robes of justice, caused fines
TO be imposed on Hanna and Pennsylvania
railroad companies while IN the case OF
other defendants genuine justice triumphed,
and the result Will lie that favored ship
pers can no longer, as stockholders OF the
companies operating docks, receive large
profits which are tantamount 10 rebates.
Steel makers are eXerting more deter
mined efforts to get prices Tor flnlsncd
products up to higher levels, and more OF
them are putting their schedules TO the
basis of 120c Pittsburgh for plates and
shapes and to l5c Pittsburgh for steel
bars The hardening tendency OF prices
is distinct but many companies are pur-
suing wholly independent policies causing
price variances. so that the advances asked
are not yet to be regarded as the nTn mar
ket. The tone CT conditions continues TO
show manifest Improvement. In the East,
wh-re operations have been tagging, in
creases OF capacity are now going into Ser