The sun., 1919-02-20
STEEL MEN DIFFER
ON REDFIELD PLAN
Opinion in Trade Is Divided on
Result of Sterilization of
Prices Project.
DETAILS NOT MADE CLEAR
Demand Is Only From Sources
in Immediate Need of
Steel and Products.
DETAILS NOT MADE CLEAR

There Is moro or less difference .,
opinion in the steel industry as 10 what
will result from the Government plan
for the stabilizlng OF prices. Lack o,
details has made the workings Of tis
proposed plan somewhat obscure so far.
but II is anticipated that by the end o,
the week Government investigating
agencies will be at work and something
more definite then will be known.
Divided opinion" says the iron Trad
Review, prevails in the iron and steel
industry over the general practicablity
and probable outcome of the price sta.
hilizing plan Of the Government, the de.
tails OF which are yet to be clearly mads
known. Recognizing plainly that fur
ther reductions may be necessary 10
bring the reimbursement process to com.
pletion. various interests feel that an,
form OF artificial regulation at this tina
will only interfere with ultimate liduida-
ton and tend to delay normal resto-a.
ton Of business activity. Manufactures
OF pressed metal goods, representa-.
100000 tons annual purchasing power IN
steel. have recorded themselves In to
negative as to the wisdom OF Secretal.
Redfeld's proposal.
Pushes Price Question Forward.
The new Government proposals hav.
brought price questions more squarelv
to the front and have not been conducive
70 the enlightenment OF already tiarl
buyers. In fact. the announcement ~.
pears to have produced more unsettle
ment OF the hitherto well sustained
price situation. Notwithstanding en-
phasized uncertainties in prices, signs o.
better tone in buying OF certain s'ee'
products have persisted. The report thai
tho very favorable mill operations OF The
Steel Corporation may be explained y,
heavy shipments 10 stock and not to cor.
sumptive needs, is mere presumption,
The great bulk OK the tonnage Is passing
into consumption"
With the demand for steel and .te.'
products about the same as a week ago
1t Is still very apparent that this de-
n1and comes only from those sources
which are in immediate and imperative.
need OF those products. according 10 th'
Iron Age review. Business has beer
maintained at the rate of recent weeks"
that Journal declares. at is almos'
wholly for necessities. though the re
Spouse to the public agitation for munir.
ipal improvement work has assumed
some proportions. The situation is he;
ter than n month ago in that there viii
be thirty days less to wait for fev,y.d
buying.
Trade Itself May Act.
by the end Of the week the machinery
Of the Government Price Investigating
Board. which is to start with the steel
trade. will be under motion. Doubts are
expressed that proclamations naming
what are officially regarded . fair prices
will be convincing. The Government
sitting in as a buyer is for the moment
actually n wouldbe seller OF all the wa
material and supplies no longer needed,
and the investment project Will wait 70"
a pairing o. war wage rates as well as
of war commodity prices.
Some time will likely he consumed n
arriving at the new proposed stsbilizirs
prices. and meanwhile the business wor' 4
may have passed far enough along tAN
road OF convalescence from war shock 70
get active on It's own account without
Government intervention. What the
trade regards as OF far more importarc.
Is settlement Of the railroad question
and the many unpaid war contracts
Downward marking OF prices IL pro.
ceeding I: a natural way. but IN general
Il Is confined TO quotations and no: n
actual transactions. ON 1850 tons o.
plates for battleships one bid was : N"-
ton below present accepted levels, sr'
on 700 tons of Gange steel the usual -
ira OF So was waived Lower price
have been named on alloy steel and
general reduction OF 81 a ton is expcr:o
this week in rivets. Wire nails have
been quoted at Ii cents 4 ker lower tia"
prevailing rates. and cutting has hes
done in coated nails. Some silver "s
irons have been given the IS cut mad"
in December for irons in genera, Re-
sale material accounts for most ~ me
other price concessions reported