The sun., 1919-05-01
STEEL PRODUCERS
WILL MEET HINES
Accept Invitation to Confer on
Price Question Again With
Railway Head.
BUSINESS HAS IMPROVED
Trade in Several Finished
Lines Of Steel Takes New
Start, Say Reports.
HAS IMPROVED

A possible solution Of the steel price
problem, which has been hanging fire
, since Director-General Hines announced
that he would not accept the schedule
arranged between steel producers and
! the Industrial Board, is seen in the an
nouncement from Washington yesterday
that the whole question may be reopened.
The advices from the capital declared
that at the meeting OF Secretary Reid or
the Industrial Board and the general
| committee OF tho directors Of the Ameri-
can Iron and Steel Institute in this city
on Tuesday the steel producers an
nounced their willingness TO reopen price
conferences. The meeting, 1t is under
stood. will be held here or in Wash
, ington.
On Tuesday night. after the meeting
OF tho general committee, Judge Gary
chairman Of tine United States Steel Cor
poration. declined to say what had taken
place. Yesterday when 1t was learned
from Washington that this assurance
| had been given, the Judge again re-
fused to say anything about the matter.
neither consuming nor denying the
Washington report.
! There is an improvement, even though
slight. In the steel business of the past
week, according to the Iron Age, which
says In It's weekly review:
| Business In several finished steel lines
has taken a start in the past week. but
II would be easy to exaggerate the
| amount OF 1t. the comparison being with
several weeks in which buyers simply
looked on and waited for Washington
to show the way. Producers see little
indication Of good business in the next
two months. and in some quarters no con-
siderable improvement is expected short
of the fall months.
I Expect Only Moderate Buying.
| Further note writing between the
Industrial Board and the administration
has ended in the latter's acceptance Of
the boards suggestion that the admin
istration and the steel producers COM
mittee confer on prices for railroad ma
| terial. The steel committee considered
the matter Tuesday, but its action was
not made niblic. It is fair presump-
ton that Z the administration asks the
steel committee to meet IL in conference
| at Washington the steel men will go.
In the trade at large the feeling IA
one Of disappointment that the countr.-
+. Is not told i'll come decisive way that the
Government has taken its hands Off tho
steel business. Concerning railroad buy
ing. the administration announces that !.
is not delaying purchases to force down
steel prices, but Is using n surplus Of
material piled up during the war. This
confirms the belief Of steel producers
that only moderate buying Is 20 be ex-
pected in any event.
The scale Of operations Is somewhat
less than in the preceding week. In the
Chicago district the average is about AZ
per cent. at Pittsburg and YOUNGSTOWN
40 to so per cent. and in eastern Penn.
sylvania about 40 per cent There 70
more disposition to believe that the re-
adjustments in the industry will extend
to wages.
Japan Is inquiring for 10. 900 tons Of
70 pound rails. For shipment 10 France
orders have been placed for 200 tani
and 200 fiat cars.
Pipe business has accumulated untN
on lap weld sizes the mills are filled Up
for sixty days or more Several sizable
pipe lines are under negotiation and
volume OF inquiries for oil talks Is ex-
! pected."
Work on Export Agreement.
The Iron Trade Rcricu says "Thouet
leading steel producers ut a meeting II
! New York Tuesday agreed to meet n.
, rectOr-General Hines and allow him a..
opportunity 10 present directly his con,
tent!on that the agreed rail prices a; .
100 high. they oppose general reopen.
ing or the price question with Govern.
meht representatives. The general view
! entertained Is trat the present schedule
I OF prices has been sdjudsed fair and
,, reasonable with relation to present costs
! by responsible Government body. that
the industry has suffered severely from
the lifeless market produced by the con.
. troversy between the industrial Board
and the Railroad Administration and that
nothing is to be gained and much lost
| by belonging uncertainty and suspense
!, Merchant pig iron interests especial.
are averse to engaging in concerted
movement 20 revive tho ineffective sta
! bilizing plan hy reconsideration o.
makers appear to be making progress
. toward effrcting international export
agreement A polling and price ARA ge-
ment In rails is being consummated
! RepreScn tatives of American mills now
abroad VIII be Joined by other leading
manufacturers in June. Price uncer
families are having the effect of holding
up export sales. British pig iron prices
despite their sharp advance dating iron,
the lifting of Government control Nav
st!ll hold varied margin of advantage
4 over American furnaces for Europeau
delivery SaabOard prices in this coun-
try are from SO to ga below BRITISH
figures at home ports or furnaces, but
ocean freights convert this spread 10 a
n disadvantage OF from 80 10 SIS a ton
1. delivered IN France, Belgium or Italy"
CONSOLIDATED EXCHANGE.