Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1917-10-13
STEEL TRADE WATTS
ON FIXING OF PRICES
Domestic Consumers Will Keep
Out of Market Until Govern
ment Makes Announcement
NEW YORK. OCT. 10.


With the exception Of indications Of Gov
ernment activities in buying for it's war pur-
poses, the steel market shows no change for
tho last week. Domestic consumers are still
waiting for tho fixing OF prices for all prod
ucts by the War Industries Board. and until
this is announced they will keep out Of
! the market
A factor which is causing that attitude
by the users Is the question of deliveries.
None of the steel makers IS willing 10 make
definite contracts. so far as shipments are
concerned, as IT. IL not yet definitely known
Just how much Of their plants will bo
given over to Government work
1t is known that subcommittees Of the
National Council Of Defense on all prod
ucts Of steel not named By the Govern
ment in the prices already announced met
early this week and agreed on recon-
mendations to be made 10 the Washington
authorities These recommendations have
been submitted TO tho war Industries
Board, and some steel men state that It
will not be long now until some announce
| ment is made.
That specifications by the Government
on contracts 10 be placed will he large
from this time on. is tho consensus of
opinion in the best posted trade circles.
II is maintained that the policy 70 rush
all work will. Of necessity. cause extra
ducers an idea Of what is expected, 50
far as deliveries are concerned.
inquiries came ont this week for the
{ structural fabricated steel needed for the
nifty ships ordered 10y the Governments from
the submarine Boat Corporation. IN ALL
$1,000 tons are required. This is the first
inquiry for ship steel and others are OK
pected TO follow rather rapidly.
Many steel men say that It, will be dill
cult in a short time, to give any promises
Of deliveries to the domestic consumers.
The orders on the books Of the steel COM
! nanies VIII probably bo given preference
as 10 deliveries, and this will naturally
bring the shipments on the contracts taken
| from now on far into the future.
Leading steel men make tho point that,
| in view Of the fair treatment on prices FOR
bars, shapes and plates from tho Govern
ment. there Is no reason to look for any
| drastic figures being established on other
| products, but until an announcement is
made from Washington the uncertainty
| which has existed thus FAR win continue.
ono fact which is emphasized by steel
! men is tho general expectation that prices
! at which the contracts now on the books
! of the companies were taken will not be
disturbed. This means that the profits
/ of the steel companies will not be affected
as seriously as many expect.
Although some Of the earnings will be
computed on the prices charged the Gov
ernlnont there viii stiII he deliveries on old
contracts at fancy prices, which will be
reflected in the net revenues Of the COM
/ pauies Much stress has been laid In the
| financial district on future earnings Of the
steel companies and while it Is admitted
in the trade that record figures are viz
tually thing OF the past, the statements Of
tho various companies will nevertheless
show good increases over normal capacity
conditions.
II might he stated that leading trade
authorities are not pessimistic on the out
look. They state that tho Government will
continue to be a good buyer for somc time,
and in addition domestic consumers win be-
come purchasers rs soon as the price-dNinG
question Of all products is out of the way,
! while the quotations to be named arc cX-
pected to he fair and equitable on all ar
tiClCS