New Britain herald., 1918-12-14
Steel and Pig
 Iron Markets

New York, Dec. 14.-The Iron Age says:
 Unexpectedly the general commit tee of iron and steel manufacturers reported to a large meeting of pro- ducers in New York, December 9, in favor of a moderate" reduction in prices of pig iron and all rolling mill products effective January l. This [ recomm was practically in- dorsed by a unanimous vote of the meeting to put the matter in the com mittee's hands with power. As the outcome of the committees conference with the war industries board at Washington today (Wednes- day) announcement is looked for of lower prices throughout the list, with the exception of iron ore. It is ex- pected that pig iron will be reduced $3, plates and shapes $5, and sheets and tinplates $10 per ton, with other prices in proportion.
 While the war industries board has indicated that there will be no gov ernment prices on iron and steel after December 31, it may announce the new schedule as prices which the manufacturers will seek to maintain. as representing a fair readjustment from the war level. On the other hand, the announcement may be made solely by and on behalf of the manufacturers
 The past week has brought further export and domestic business to the steel companies, some of them book ing more than their current output: but, as Gheretofore, it was an agsro. gate of small replenishing orders. T 70 belief that with the heavy cancella- tions by England, France and the government at Washington, demand for some months would fall below capacity is still the dominant consid- eration.
 Pig iron sellers are disposed to see a stronger situation in their trade than in steel, holding that both in this country and in Great Britain blast furnace building has not kept pace with new steel works capacity. Hence the inquiries, still quite indefinite, for American pig iron for shipment 10 England.
 A disturbing feature is the effort of pig iron buyers, some of them large companies, to cancel iron bought for the first half of next year. Sellers are resisting stiffly, even in cases of government aIlocation and for work which the government may have can celed.
 The intimations that some govern ment representatives are canceling iron and steel orders in the expecta- tion of replacing the material at low CT prices have been no help to al or derly adjustment
 No rail price has been fixed on domestic purchases, contrary to re- port, and the naming of $55 for Bes- semer and $57 for open-hearth rails ut Wa Shi ortO1 means merely the set ting basis on army and navy pur- chases for the war on which previous ly there had been an open price.
 The possibility that reduced prices will compel some producers to stop is a factor difficult to measure. Certain Iy some blast furnaces are running that can only live on war prices
 There is no better promise Of buy ing for the railroads. A western car works is congested with cars which railroads refuse to accept on the government distribution, insisting the prices are too high. France, how ever, has placed 7,50O four-whee1 cars here and there is a report, with no details as to financing, that an order for 4,O00 cars for Russia will be re- instated-
 Some favorable items in the British market are a good demand for pig iron, and export inquiry for rails, shapes and plates. The call for tin plates is also large. New control prices for the British domestic trade, just announced, effective February 1, in contrast with the movement on this side, represent advances, these being as shown in our cable report, as much as $10 to $15 per ton on some fn- ished products