Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-05-10
ADJUSTMENT IN STEEL
SATISFIES THE TRADE
No Further Incentive to Keep
Out OF Market for Future I
/ Requirements

new NOrk, May lU.-AS forecast in
these columns week ago. the steel
manufacturers committee stood firmly
on their ground on prices in the dis
pute with the railroad administration
and as u result the conference which
was held here on Thursday resulted in n
failure to reach new agreement. The
representatives of the railroad admin.
istration also held their ground. aud it
was announced that competitive bids
would be taken shortly for 200. 900 tons
of steel rails.
Steel men. generally. arc of opipion
that the outcome of the dispute has
been satisfactory. AS matter of fact.
the leaders in the industry right along
have maintained that they were in a
position to meet any readjustmcnt that
must come, and it is known that the
matter of making an agreement with
governmental bodies met with consider =
able opposition when it was first pro
posed.
| 'uN pVlul "HltH UtfI llluup tOi .
chilly is that the uncertainties which
have prevailed since the dispute arose
have been removed, and that regular
consumers, knowing that the steel men
are determined to hold for what they
believe--is5aa fair and reasonable level.
will have no further incentive to keep
out of the market for their future re d.
quircmcnts.
There has been some talk that with
tho price agreement abrogatcd quota =
tions will advance eventually, but in
this connection ono of the best posted
authorities in the trade states that he
can see no possibility of higher levels Mt
least for the remainder of the year.
He asserts that the prices prevailing at
present are fair and there would be no
ground for making any advances at this
time.
The opinions which have been heard
recently that within few months the
demand for steel products will exceed
the supply is ridiculed by this au-
thorty, who points out that the capnc
ity of the industry has been increased
materially during the war, and that
it will take a peace demand much
larger than the buying during the war
to absorbTthc present ingot capacity.
which is approximately 10000, 900 gross
tons per year.
In some circles it is the expectation
that the latest developments will re-
suit in a resumption of buying for
many products and the future is being
awaited with considerable interest by
all observers. That there has been Il
large amount of business held in abey-
ance is the general belief in the trade,
and if this held up business is sent to
the mills in the form of definite con =
tracts, the outlook will be much better
than it has been in some time.
With regard to the competitive bid
ding for the rail orders for the govern
ment it is stated in some circles that
only the United States Steel Corpora
tion can afford to put in proposals al
$40 per ton for Bessemer aud SAT pei
ton for open hearth, and that all Other
makers have a cost in excess of these
figures. This would mean that the cor
poration is in a position to get the
entire order if it's officials desire it.
The production of steel ingots ir
April was the smallest since January
of 1918, when the plants Of the country
were curtaied by the cold weather and
the coal shortage. The percentage OF
operation figures given in these col
umns from time to time during April
have been borne out by the ingot state
ment. However, should buying be re-
sumcd, as many now expect, the coming
months should show increases over the
total recorded in April.