The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-10-31
STEEL TRADERS NOW
SEE EARLY PEACE
REIMBURSEMENT of Ship Plants
Referred to as Barometer
of War.
WASTEFUL STAGE PASSES
Huge Orders, However, Con-
tinue to Come for Cars
and Rails.

Expectation OF an early peace Is being
reflected In the steel industry by special
movements and because Of this readjust-
ment problems have been placed ahead
Of everything else This Is true, accord
Ing to trade authorities, Notwithstanding
that to all appearances the industry is
going ahead as II the war was expected
to continue indefinitely.
The Iron Age declares that the con-
flicting currents are confusing, but since
all Initiative is from Washington the
problems OF producers and consumers
are of the future rather than the present.
Munitions contracts were first thought
Of as most sensitive to the approach of
peace" says this authority, but instead
the Shipping Boards action has been
the barometer. The steps taken as to
shipbullding in tile past week mark the
passing of this part of the war pro-
gramme from the wastetul stage. in
which haste was the first and last word
toward a basis Of economic production.
The most efficient yards will be pushed
10 the utmost, but high priced operations
will not long continue. Some plans for
shlpyard extensions have been given up,
but meanwhile the output Of ships will
increase.
Sentiment In the steel trade as to
coming changes runs all the way from
an expectation OF depression on the maxi
ing OF peace TO a prediction that the
need in the transition will not be for
Government help in price maintenance.
but in holding prices down.
"One OF the peaob discussions Is the
hedging OF contracts with new condi-
lions. In one case 1900 tons Of Besse-
mer pig iron was bought for the first
half Of 1919. with the provlso that II nc
Government price exists at the time OF
delivery the present maximum shall APP
ply. Pig iron producers are less willing
to sell ahead as peace comes nearer
They see scarcity of metal for months
10 come"
Notwithstanding the Influenza produo-
ton in October OF pig iron and finished
steel exceeded that OF September and a
better fuel supply tends 10 still better
records.
The Iron Trade Repicw to-day will
say:
! wherever the continuing peace move
| ment may lead, the war is still OF upper
most interest in the iron and steel in
dustry. The march to Berlin Is TO be
| immea surably facilitated by many rails
cars and locomotives that are to serve
! the advancing armies. For Gen. Perish
/ irig's forces the huge total OF 100000 ton;
| OF rails for early delivery has Just beer
distributed among the mills. Along witt
! the closing of orders for 10000 add
/ tional cars and several hundred locomo
tives tank construction has reached ;
new stage OF production and orders 70
many thousand additional have beef
placed The new allotment OF arm.
trucks Is expected 10 call for 10000.
The Allies continue as large buyer
OF war materials. Italy has placed 5000
. TO 10000 tons of she'll steel addltiona
! and has asked for 100, 900 tons more o
pig iron. Great Britain within the wee
has sought permission OF the Cnitet
( States Government to place additona
tonnage Of shell steel in this country
Important new orders from France hav
tlso been closed.
THE most concrete evidence OF re
trenchment is presented by develop
ment connected with the shipping pro
gramme New yard and accessory plant
and projects In the East and West haN
been held up Indefinitely. Cancellation
OF equipment for these plants estimate
at $4,000, 600 to s1O,O0O,000 has bee
made by the Emergency Fleet Corpora
ton"