The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-20
HIGH STEEL SPURS
PLANTS; TO ENLARGE
Great Increase in Capacity
Expected During Next
Six Months.

III INV l"'' c-
wildly reminded the steel trade Of the
excitement that ran high In tho few
erish days of 1899 and 1900 preceding
the organization of the ueited States
Steel Corporation. Consolidation ana
mergers and rumors Of others impend.
Ing then, as nov. kept the industry In a
ferment OF expectancy. rho expanding
OF old plants and the building OF new
works to take advantage Of the high
prices prevailing for mill and furnace
products are being pushed to-day with
the same vim and haste as sixteen or
seventeen years ago but with the al.
vantages OF modern facilities and prac-
tice IL Is possible To- make greater head
way in shorter times than In 1893. There
IL promise, therefore. under present cir
cuinstances that steel productive ca
pacity will he Increase at the rate of
upward of 1000 900 tons annually In the
next six months: possibly more. Tho
incentive 10 rapid construction grows
with zach 81 a ton advance In prices.
and the upward movement has been
powerfully accelerated since February /.
Tho magnitude of business to-day.
However. Is many times greater than 1t
NstS " NV - ,'t @''S
into existence. Productive capacity. too.
has been mora than iripled. In many
respects conditions differ from what they
were in 1899. hui the main factors gov
crning prices Of the various products arc
the same.
Some errors and misstatements con-
corning prices and steel statistical facts
nave been given publicity In tho last
week. Under the circumstances II ~
we'll to look again at prices In retro
spect. In the past week the a
OF s. per ton In the prices of bars,
plate. and shapes WAS the most dra-
matte Incident that has occurred In the
industry for several months. I'm other
notable changes were an advance or
81 per ton on shafting. So per ton on
wire products and skclp and Poe. per
box on tin plates.
Since the beginning Of the war in
Europe the prices of steel bars and
structural shapes have advanced SIS
per ton and steel plates s26 per ton
These prices do not Include the
steel bars sold for the manufacture OF
war munitions. Tho price OF steel bars
are still 50 per ton below the highest
level in 1898. structural shapes, how
ever. have reached the maximum point.
while steel plates are S1l per ton below
the h!lh,st point touched In 1893.
The indication Is that prices of wire
products. which are largely based upon
bars. will again he advanced In the near
future. Wire nails today are selling
at 2.30c. a pound. which u an advance
OF SIS per ton since the beginning of
the war. but the highest price ever
established was 3.2oc. in December.
1899, so that "A further advance OF SIS
per ton H. necessary before the previous
highest record is ccl.r~ed. Plain wire
to-day is selling at else, which IL an
advance of 81 per ton since July 81,
1914. The highest price ever recorded
was 3.O5c. in 1900. To-day's price is
SIS per ton less. Painted arb wire Is
held to-day a: 2i5c., showing an adj
vance OF $40 per ton since the beginning
OF the European war. hut to-day's price
is sc5 yer ton under the highest price
prevailing IN 1899. Galvanized barb
wire s. bringing 3.l5c. to-day. which
IL "A rise of S2o per ton since the
beginning OF the war. but another adj
vance OF N3 per ton is necessary 10
bring the price TO the maximum point
in 1900.
Last week railroad buying OF equip
ment called for about 10000 tons Of
structural stee. and contracts are st.l.
i'It4IS III Idt.S. cars, LOCOMOTIVES ana
bridges calling for 100000 tons. Since
February / the rail mills nave booked
contracts for $1,000 tons OF standard
and Ugh. section rails. Merchant car
builders have taken contracts for more
than 1000 cars and locomotive shops
have booked contracts for 1876 ocomo-
tives. Contracts are st!l! pending for
80 engines. Tie more Interesting
change IL the attitude OF the railroads
noted during the week is the release of
larger orders for bridges. Since Feb
ruary ! bridge contracts have called for
nearly 1000 tons OF steel and contracts
are still pend!ng witch VII. require a
consumption OF Is, 900 tons more steel.
One OF the most interesting develop
ments In tho last few days has been the
reservation of rolling space for soft steel
is,rs by the agriculture! implement man
ufacturers IN the interior. Contracts
have been actually closed for go. nnn
tons of tars To he shipped during the
year beginning next July. II is esti-
mated that the s"a"e reserved is tor
fully l,0uu, 600 tons. 70" several years
the Agriculture. implement makers Au>.
departed from their uSui. practice Of
ordering 80 cover a years requirements
The reluctance of the mills 10 accep,
such contracts. however, has been parity
responsible for the shorter time for de-
~l.veries. At the remunerative prices pre-
rail'ng to-day the steel mills are reader