New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1918-12-26
Steel and Pig
Iron Markets
The Iron Age says:

Inc 1rOn age says
At the close OF the year 1918, never
to be fo> gotten because 1t marked the
attalnme MT of the iron trades great
est contribution to the winning of the
war, conditions contrast sharply with
those which prevailed at tho end of
1911. Then the operations of manu-
1actur1ng plants, particularly blast
furnaces, were seriously hampered by
the inadequate supply of materials,
due largely to the extremely cold
weather. but the mild weather this
winter and the liberal supply Of cars
have made conditions much more
satisfactory Then the government
price fixing policy had become estab-
ished and shortly before Christmas
the war industries board had recon-
mended to the president the extension
OF the prices promulgated late in the
preceding Septembe thus relieving
the fear that the schedule would be
reduced. Now the trade witnesses the
voluntary lowering of prices of pig
iron and finished material by most of
the manufacturers. Then there was
a decided scarcity Of labor while now
the problem OF how the returning
soldiers and the employees discharged
from war industries will find jobs is
causing no little anxiety at Washing
ton aud in industrial centers. Then |
the percentage of output being made |
for the government was rapidly in !
creas1ng while now it is even more |
rapidly declining. Then all thoughts |
were concentrated on how to render !
the most efficient service to the cause |
Of the United States and it's Allies |
while now all efforts are directed to- |
ward an orderly reimbursement of in J
dustries.
In organizing for the postwar ex- |
tension of commerce, Independent |
steel manufacturers have named the |
new export company the North AM !
erican Steel Products corporation and !
selected as president F.. a. s. CIarRe, I
long prominent as q ma1ufa cturer of
steel and during the war, q very act I
i've worker in cooperating with the !
government in the regulation OF !
prices without legislation. Exporters !
who are not manufacturers have ex- !
pressed anxiety as to whether their |
sources Of supply would be cut off by |
the new organization, but it is au.
thoritatively stated that the new cor |
poration will be SO conducted to
give no ground for complaint on the
part of exporting houses, which will |
be able to obtain steel from it OF
from other companies.
The new form Of contract which
has been agreed upon by the contract
committee of the American Iron and
Steel institute, except as TO a few de- !
tails, Is expected to have al import
ant influence on standardfzlng con-
tracts and stabilizing conditions. II
is intended to prevent both overselling
and overbuying. to bind both buyer
and seller, and to be strong enough to-
resist all attempts at cancellation.
The new attempt to make contracts
more than options will probably be
inaugurated at an early date and may
be subjected to severe tests during
the reimbursement period.
Sellers continue to call attention to
high costs and low stocks and 1t GER
tainly Is true that the stocks Of pig
iron in furnace yards are very low.
but there is an increasing tendency on
the part of pig iron sellers to accept
the new schedule which reduces
prices SO per ton on sales for delivery
after January l, A few furnaces still
insist that they will not reduce prices.
but 1t Is probable that at an early
date the quoting OF the lower level
will prevail as to a very large per-
centage of the tonnage still 20 be sold
for the first half OF 1919, Statistics
snow, llSWoSS4s IhdI ALIAAS A01 LiaSSS
are sold up to July as to 80 per
cent. of their estimated production.
In finished materials, there is very
little buying at the new schedule.
This causes no disappointment, for 1t
was not expected, during the holiday
season with so much uncertainty ex-
listing for various reasons as to the
future, that buying would be active.
Implement manufacturers are dis
pleased on account of the announce
ment of the new price schedule.
When they received a concession OF
SIS per ton on bars about the middle
of the year, they entered hard and !
fast contracts TO which they must ad-
here. Now they say their customers.
having heard of new reduction, are
endeavoring to cancel contracts for
implements, dospiN the fact that
most of the steel has been delivered,