Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-11-08
STEEL MILL OUTPUT
IN ON THE INCREASE
Coal Strike Has Had Little or
No Effect Upon Operations
of Plants

, Ncw York. Nov S.-All the reports
'rcccivcd by the steel companies with
headquarters in this city state that the
cCal strike thus far has had little or
no effect upon the operations of the
plnnts, and about the only result from
the coal trouble has been an increase
in the demand from some consumers
who are anxious to have orders for
their requirements booked so rs to be
certain to get the products when needed.
As n matter of fact. if anything.
there has been an increase in the out
put of the leading steel mills of the
country during the last week This
was due to the additions of plants TO the
operating list where sufficient workers
have come back to the mills. The steel
strike situation is pctcring out of its
own weight, and this factor is coming
/ in for little consideration when the
/ future is being discussed.
/ One factor which is pointed to rs in
dicatng the excellent position Of tho
/ steel plants, despite the coal strike, is
the activity in the tonncllSvilIc coke
region. This is whcrc the greatest sup
|ply of coal and coke for steel mill
operations comes from. and as this Sec
tion is non union, production has shown
II rapid gain since the miners left their
work in other sections.
The demand for coke naturally has
increased and SO per ton has been freely
bid for spot delivery. with sales made
at that figure and the outlook that even
higher prices will prevail for immediate
delivery material This is true despite
the steps which have been made and are
still being made to increase the OUT
put. and it is freely stated in well
informed quarters that if the coat strike
. I.l, {, a a
the Conncllsvilc region will reach pro
ducton figures never before cqualro III
the history Of that section.
The report of the Midvalc Steel and
Ordnance Co. for the third quarter ot
this year. which was made public dur
ing the last week. made Il, camparntlNr-
" good showing hut attracted no sur
prise. mainly because it was m I'M"
with the reports made by the other lead
ing steel companies during the last
three or four weeks
The balance for dividends Tor the
third quarter was equal to Sl.W per
share ON the outstanding capital stock,
compared with but forty eight cents per
share in the second quarter, This means
that the dividend was nearly twice
earned during the latest period, whereas
in the three months ended with June ~
last the company earned less than half
the amount that was paid to the share q
holders.
Now that virtually all the reports
of the third quarter have been made
public. it is the opinion in leading
steel circles that the final three months
of the year will make Il much better
showing than in the third quarter. OF
course. there will be some decreases
because of the interference TO opera
tions and earnings by the steel workers
strike, but it is believed that NuyCm-
Der and December will record suchNargc
increases that the loss of October will
be more than overcome,
In the steel markets more attention
is being given to railroad work than
any other branch. An inquiry has
, come from the Pennsylvania Railroad
for 200 900 tons of rails, with the pro
yiso that any order that might be
placed will be subject To cancellation
should the government fail to rclin
! quish control of the carriers by the END
, of the year. 1t is believed that tho
, steel companies will accept this buSi-
, ness with the conditions named.
1t is learned that the Bethlehem Stcc
Co. has obtained an order for about
40. 600 tons Of rails for the eastern
roads from the railroad administration
1t will be recalled that the government
- put an inquiry for POO, 900 tons of rail,
several months ago. and it is believed
that the present order to the BethlC.
i hem is part of this inquiry, as it i
u, known that Il number of eastern road
are in rather urgent need of the rail-
for replacing those nearly worn out,
There has been little or no chang
in the pigron market Consumers ar
. still securing the market for spot ma
tcral. but furnaces are not in a posi-
tion to take any large orders for immc
diatc delivery. Some small sales ar
Is reported to have been made. The gen
Z cral opinion in the trade is that price
will be advanced after the turn of tn
~ year. as there is n tendency on the par
of many producers not to accept order
J" for future delivery at present quota
tinpS