The sun., 1918-12-01
j, s. LIFTS BAN ON
STEEL PURCHASES
ALLEGATIONS Of Product Discon-
tinued, Market Now Open
to Public.
COKE OUTPUT rs LIGHT
Several Blast Furnaces in
Pittsburg Region Forced
to Close.
COKE OUTPUT rs LIGHT
Specinl DesrateA to TEE suN.


steel trade has been given much to think
about in the last few days with regard
N the future OF purchases of railroad
steel. The steel makers are very loath
10 discuss the matter in the open, how
ever. because several matters OF delicacy
are involved. There were two events Of
note that occurred. the FIRST being the an
nouncement Of the War Industries Board
that on and after November 80 It would
cease making ALLEGATIONS of steel. and
the other was the announcement Of Mr..
McAdoo that he had resigned his posi-
ton as Director OF Railroads. Tho ac-
ton Of the War Industries Board means
that in future the various purchasing
agencies will deal directly with the man.
ufactnrers, these agencies including the
various departments OF the Government
War, Navy and Railroad Administra-
ton-as well as the commissions of the
foreign Governments
Reference to Mr.. McAdoo's letter to the
chairmen Of the Senate and House COM
mittees in charge of the tax bill two
weeks ago shows that he referred to the
reduction in Government expenditures
that would follow the cessation of hos
Titles. but said: 'It seems reasonable
10 suppose that the decrease in the Gov
ernment's expenditures cannot be at
very rapid rate II a wise policy OF read
tustment and transfer OF activities from
a war to peace basis Is followed"
These words can easily be taken TO mean
that Mr.. McAdoo believes that orders for
railroad steel should be employed to sup
port the steel market during the transit
tory period which has just been entered
upon. With Mr.. McAd0o withdrawing
the disposition Of the Government to sup
port the market by means of purchases
Of railroad steel is reduced. The only
question is the amount by which 1t is re-
duced Lately there has been consider
able comment along the line that there
seemed 10 be division. or at least that
a division might easily arise, between
the War Industries Board and the Rail-
road Administration as to the prices that
ought TO be paid for railroad steel. With
Mr. McAdoo out the Railroad Admins
tration will be still moro disposed to
seek lower prices. and with the War In
dustries Board disseminating Its work OF
allocating steel its influence will nat
urally be diminished.
Inquiries for steel.
While the merchant interests have not
been formally notified that the restrict
ton Is off as to their dealing in unfin-
ished steel, II is recognized that as a
part OF the general removal OF restrtc-
lions the ban Is removed against steel
producers making sales of unfinished
steel TO middlemen who would not ad-
vance the stage OF manufacture. AS
generally interpreted, the ban was only
against the middle interest being at any
time the owner OF the steel, not against
10 irta n hrnlxar n
bringing buyer and seller together and
writing contract between them, with
n commission to come from the seller
For some time past the merchant inter-
ests have been looking over the trade
FOR opportunities to buy and sell unfin-
ished steel, and have been in receipt of
a number OF inquiries from consumers
who wished them to look out for odd
Jobs Of steel. The probability is that
in the near future there will be quite
lot Of business for merchant interests
TO DO in unfinished steel, arising from
the stoppagC OF work on Government
orders
The scrap list OF the Pennsylvania
Railroad, published this week. bids De-
cernber and awards December G, is a
little heavier than usual, carrying an
aggregate OF about 10000 gross tons.
The Pitcairn and Altoona offerings.
which are always of particular interest
10 this market are especially heavy, and
contain some attractive material. includ-
ing much material grading as heavy
melting steel, not war time heavy melt
ing but regular commercial heavy melt
ing steel, n good delivery in competi-
tive market. At various points there are
over 600 tons OF steel aNles. All the re-
~r0tions hitherto imposed by the rail-
road are continued, that the price must
not be above the Government limit and
that the use of the material and the point
OF consumption must be specified. A
definite market level for scrap has still
failed to be developed and consumers
Continue out of the market
Coke Supplies Light.
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