Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1918-09-21
HIGHER FIXED PRICES
HOPE OF STEEL MEN
Conferences in Washington
During the Week Attract En-
tire Attention of Trade
New York. Sept. II.

The conferences in Washington dur
ing the last week between the leading
steel men aud members of the price
fixing committee Of the war industries
board attracted virtually all the atten-
lion of those in the trade who remained
behind. and some Of the latter are
hoping for some favorable action by the
Government authorities toward higher
fixed prices.
II is admitted in the industry that
the steel interests presented arguments
in favor OF 4 higher basis for virtually
all products. especially for iron ore and
Dig iron. In the latter industry there
Is considerably more agitation than in
any other branch. due mainly 10 the
fact that many furnaces are operating
at present which would be shut down
IN normal times.
The managers Of these furnaces in
sist that they are running because they
consider It a patriotic duty to keep up
production of the country as high as
possible in view Of the extraordinary
demands being made upon the industry
,or war purposes, and for this reason
they are making urgent efforts to get
d quotation which will allow operations
on a small profit.
Although Washington dispatches have
animated that an advance viii he per-
&, mitted in iron ore. no official announce
ment has been Forthcoming as yet, and
none OF those who left this city last
I Wednesday to attend the Washing meet
ings has returned, SO that not even an
intimation of what might he expected
can be gathered in official circles.
However. to allow an advance in iron
ore and pig iron, 1t is argued in the
sr,1a ,..D,,ll -al1- 49,, Or, tls I,,al
vantage Of the steel producer, who has
had his freight rates Increased, and has
given an adyanc in wages to his work
ers. The higher price for iran ore and
! pig iron would mean an increased cost
in producing the finished product.
The arguments along these lines are
that if an increase is to be faced by
! producers in their costs. because of high
er prices for raw materials allowed by
the war industries board, it is only fail
tina the quotations for their finished
products undergo some form of read
iustlneut 50 that the matter will worl
out on an equitable basis.
There is an unusually large demand
FOR structural material from iobbers, bu'
rhe latter have been unable to plac,
orders. mainly because of the eno1nrou:
2 requirements for war purposes. As
result of the Government policy of taking
virtually all the material available it il
understood tina the stocks at the ship
Yards Of the country at present are bet
ter balanced than at any previous time
a change has been made in the ferro
manganese market. II will he recallet
that when the standard was changed
from so per cent to 20 per cent a price
of 81 per unit either above or below
was named. Nov, however, it has beel
found more satisfactory to lower tn
price pere unit of $3.50. In other words
= per cert ore would bring s253. so, an,
SO per cent ore $1,000, the market 70
!. the standard 20 per cent being s25
per ton.
Sales Of spiegeleisen have been mad
} al $50 per ton, and the demand i
slightly better than III previous weeks
, IL Is stated IN the trade that "A humble
of nearby haze been in tn
market during the past week for thei
3 future requirements of both ferro-rnan
ganese and spiegele!sen, but no informa
: ton is o~btainable as to the tonnag
wanted, although it is admitted tina
8 there is little likelihood of those havin
q the material for sale being willing t.
= enter n contracts on their books 70
o faroff deliveries.