The sun., 1919-04-06
STEEL MEN EXPECT 4
A BUILDING REVIVAL
Thinks Illness Refusal to Ac-
cept Prices Means Open Steel
Products Market. F.
DWELLING CAMPAIGN ON
Buyers Do Not Enthuse About
Reductions and Ask When T.
Others Are to Be Made. 7
DWELLING CAMPAIGN ON

PrrrsBuRa, April b.--Iron and steer
men commented freely yesterday on the
fiat refusal Of the Railroad Administr~
ton TO accept the steel prices OF March
81, announcement to that effect havlns
been made last Wednesday at CONFER
ence between the Industrial Board ana
the Director General Of Railroads Ine
consensus Of opinion hero Is that the
negative answer was expected AccoIu-
ing to experts, the unwillingness OF the
administration to indorse the new prices
has been plainly evident since prices
were announced
1t was known that Peek and Ritter OF
the Industrial Board, made hurrieo
trip to Chicago TO urge the Director
General, who was on an Inspection tour
In Pittsburg on the day before. to accepe
the prices.
Men who know point to the fact that
any reference to the earnings last year
of the railroads and the steel producers
respectively discloses clearly which party
stands in greater need OF money. ~.
well known here that for years the eteel
producers have criticised uniformly ana
consistently the railroads for buying
steel when prices were high and refraln-
ing from buying when prices were low
It is pointed out, therefore, that the rail-
roads cannot be expected to pursue an
even more extreme course az TINS juno
ture.
1t is felt that the board failed TO OBJ
tain anything like as large reductions In
steel prices as expected, but traders here
are mystified because the board has not
admitted that fact, but is trying to force
its prices on the administration.
The steel men look upon the news
coming out OF Washington as an indics-
ton that an open market for steel prod
ucts Is not an impossbility for the near
future. 49,
Indications here are that there VIII
be considerable activity in building now
homes and factories and steel men are
becoming interested in the campaign
going on to enthuse people in cause OF
erection OF dwellings. Conditions IN
Pittsburg bear out the estimate that
L 00O, 900 homes are needed in the United
States. High building costs are recos-
nized as a deterrent to building activity,
but it is thought that possibly the pub
lie will become Accustomed to the higher
costs, although they are getting lower
in many lines in which the reduced prices
of iron and steel commodities have
connection.
There has not been much enthusiasm
among buyers of steel over the recent
price reductions and many OF them are
beginning " WOHutE WHch IiC hSAS ~
duction will be made even though II
was stated officially by the Industrial
Board and by the chairman of the iron
and steel industry's committee that buy
ers should regard the reduced prices as
minimum for the remainder of the year
Some disappointment has been felt
among buyers of steel at the volume
of business since the price regulations
occurred. There has been improvement
I tn, yor,pfical1v oil lines hfyt ~
| is not altogether as great as was ex-
pected. 1t Is clear that only buyers for
merly in the market are In the market
now. No new buyers have appeared and
| the business is Of the same char acter rs
formerly. Certain Pittsburg business
men have made a general survey of the
industrial and business situation and
! their findings are that retail business IL
very good, and that wholesalers and
manufacturers of goods sold to ordinary
retail trade are also doing well. while
the further one goes from the gonds
bought by the ordinary buyers-the
gre 1T masses of the people-the less 40
| tivty one finds.
There is very good demand for tack
hammers, but a poor demand for ma
chinists hammers There is good de-
mand for automobiles. but little demand
| for mine cars: good demand for HOUSE
heating stoves, but poor demand for steel
heating furnaces. One steel mill has
turned down bids for new steel heating
| furnaces because prices quoted are a.
high as were quoted in 1917.
The demand for tin plate did not I'M
prove, as was looked for last week. and
mill operations are only between 90 and
65 per cent. OF capacity on a general
average, a lower proportion than Oh
tanned earlier in the year. According 10
all rules of the industry operations should
be showing n good increase, as the can
ming season is approaching and the large
stocks that existed at the date of the
signing of the armistice must by this
time be largely worked off. The dim
Guilty in regard to the tin plate demand
relates TO the packers, who have 5000
900 cases of goods on their hands. which
they expected the Government to take
and which the Government has Just
agreed to do. but wants ninety days in
which to make payment. The tin plate
mills insist that slackness OF demand Is
not due TO question of price They re-
gard the price of 81 as firmly main
tanned. with little likelihood OF being