The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1917-02-14
WHEELING STEEL & IRON COMPANY
INCREASES STOCK To S10,000,000

the surplus Of last year makes the
present surplus $4,S72.946.Ol.
Pay rolls for the year amounted 10
SO. 267, 096.SS. =,
Production fer tho year as follows:
Pig iron, 2l0slS3 gross tons: steer,
2095l5 gross tons: skelp. l54.V-" efoss
tons: tubular goods, l3l.425 gross tuIS;
tin plate. 1.O9S.19o base boxes. GGai
mined 2lo.o27 net tons. Value vi snip
mcnts. S15.0T3.530.IS.
Extensive improvements:
Mill improvements consisted OF:
Installation of. one Neyl & Paterson
pic casting machine at Martins ferr5
furnace. Extension OF galvanlzinG u'-
partmeut at Benwood. doubling us ca
pacity: installation OF new cutting anu
threading machinery. AT forkV!tte; a.
equipment. put in operation August ~;
Erection work started on SIX addltlona!
mills, which should nc completed ny
early sprinE. When this last addition
is completed this plant Will consist ',o ID
"a trains OF hot mills. - trains OF Colo
mills 40 thinning machines. tcGether
with necessary equipment sunlclcht ~
finish and coat the entire productoh OF
the hot mills: which Will DC APPROVE
mately 100000 base boxes per year.
Cost OF repairs made during tue year
amounted TO S455.9S4.1I. ,.,
The reserve funds aggregate SSll'-
353.5S. e..
Most Unusual Year.
The year 1916, Viewed from L manu-
featuring standpoint. was most VII
usual one" President Scott stated Lmo
demand for all classes Of steel products.
as we'll as for all materials going into
the manufactures of steel. was most IN
sistent throughout the whole OF inc
year. The prices received ny inc coil-
pany for its products. as well as inc
,.N1Ih nj n ma
raw materials and supplies purchased
by Il. showed abnormal advances as the
year progressed. At times It was Win
difficulty that the plants were kept in
full operation. the interruptions helnS
brought about by various causes. Such
as DELAYED receipt of materials. scare
ity Of labor inadequate transportation
facilities provided by the railroad COM
panieS etc. Regardless OF all this, inc
years production was above normal.
During the first half OF the year the
prices ruling on the company's main
products. namely. tubular goods AND
Tin plate. were lower. relatively speak
Ing, than those carried by most other
steel products: but over the last hail.
and the last quarter of the year espec-
tally, these conditions changed for the
better. and the prices now being real,
.ized by the company can be regarded
as satisfactory.
Outlook Is Good.
Mo- part or the company SteCl pro-
duction for tho year was used for mu-
milton Spurposes So far as surface in.
dicattons 90. no diminution in the de-
mand for the company's goods need be
anticipated in the near future. and II
Is reasonable TO expect that plant oper-
atoms will be carried on at capacity rate
for the coming six months at least.
barring unavoidable interruptions.
1T goes without saying that read
iustment in values will follow the ter
nf ba Fur lint fnr
rXtent of this and its ultimate effect no
ono is in q position to prophesy INTEL
ligently.. 1t is the manaGemcnts aim
to keep the company's manufacturing
plants up 10 the highest possible state
Of efficiency at all times. From the
statement. the accuracy Of which Is
certified by Messrs. Price. Wnterhouse
4; Co. chartered accountants. shows that
the company's financial position con-
tinues sound"