New-York tribune., 1917-11-08
Steel Industry on
More Stable Basis
Government Relying on Manu-
facturers to Fix Prices for
Mill Products

The equilibrium of the iron and steel
market has been largely restored after
weeks Of uncertainty over government
regulation of prices.
Further announcements this week,
according to THE Iron Trade Review
have gone far 20 Eli in the gaps in the
agreed price schedule. The govern
ment. this trade authority says, pro
poses 70 the industry itself the enforce
ment Of the fixed maximums on mill
and furnace products. as well as the
settlement Of such details as remain
TO complete the markets realignment
Federal initiative is 20 be exercised
rarely, if at all. in further price de-
csions. Responsibility for the adjust
ment of unregulated lines. especially in
finished material, is placed with the
manufacturers, and is to be made in
accordance with established market
standards. Process of adjustment al
ready is we'll under way"
"The Iron Age" says: "The i'll ad-
vised agitation of contract abrogation
by the Federal Trade Commission has
tended to restrict buying Of steel for
commercial uses. The trade has done
40 little readjusting on its own ac-
count, since the shadow of government
price fixing fell upon it over four
months ago. To-day the outlook is that
the present price basis will not be
changed January l, but official assur-
ance TO that effect should come soon
and it should be indicated also that
no change will be made in the first
half of 1918.
"War steel requirements are looming
up. Government she'll steel now under
inquiry amounts 10 100000 tons. OF
which 100000 tons was distributed in
the last week. For the destroyers re-
Gently let 10000 20 10000 tons Of steel
has been given out. largely plates.
"A measure Of the scarcity of plates
is found in the estimate that govern
ment merchant ships. representing en-
tirely new demand, will take in each of
the next two years 100000 tons OF
plates. The total production of sheared
plates one-quarter inch and thicker was
not quite 100000 tons in 1915.
Besides the 10000 cars for Russia,
held up until responsibility for pay
ments is firmly settled. and the 10000
cars for French railroads. builders are
to supply 5000 more cars for our eX-
peditionary forces and upward OF 5000
for domestic roads are under consider
alton.
Inability Of certain manufacturers
TO count on steel supply promises TO
figure more and more in the war toll.
The automobile industry is much dis
turbed by the announcement that alloy
steel would be largely withheld from
Il. yet there is nowhere any definite
knowledge as TO the amount OF such
steel government needs will require
An order for 5000 tons Of fabricated
structural steel for derrick towers has
been divided By the American lnterna-
tional Shipbuilding Corporation among
the American Bridge Company, the
Downey Shipbuilding Company and
John Eichley, jr. The New York Ship
building Company, il is reported, has
given an order TO the American Bridge
COMPANY for machine shops and trans
fer and storage buildings 70 be con-
structed at Camden.
The Italian government is understood
TO have secured 10000 tons OF basic
iron from American furnaces through
the War Industries Board. This is be-
lieved 10 be the same contract that was
reported to have been placed about the
middle of September. but was held up
by the United States government. A
nyevious contract for 10000 tons for
italy was consummated.