The Bridgeport times and evening farmer., 1919-04-28
IRON AND STEEL PRICES.

The U. S. Department of Labor through the Information and Educa- tion Service is issuing the results Of a study of prices during the war and read 1ustment period made by the Division of Public Works and Con struction Development. Discussing iron and steel prices the report says;
 Tn the case of iron and steel pro- ducts, war orders for the Entente Allies began to figure largely during the second half of the year 1915. Demands for steel production were greatly increased and prices advanc- ed at that time. Steel prices Cont1nu- to advance through the year 1916. and in 1917 it developed that a very large proportion of the steel output Of the country would be needed for war 11ses. Prices of steel. iron and coke soared to unprecedented levels until 1he government found it necessary to fix the prices on these commodities. The governments fixed prices ruled the markets from the last quarter of 1917 until the end of 1918.
 Most steel prices, before the gov ernment assumed control. were over three times the pre-war figures; some were nearly six times the pre- war figures. The price-fiEing com mittee brought these prices down very considerably However, the gov ernment's fixed prices were still very high in comparison with pre-war figures. If the average for the period July 1, 1913, to June 30, 1914, be taken as the pre-war base GOO per cent.O, an average of prices on fin ished steel products in force at the time of the armistice shows an index of FPS. Since the maximum possl- ble production of steel was desired these commodities being considered as essential for war purposes, 1t was necessary to fix the prices at such figure that the producer whose costs were greatest might enter the market and make a fair profit
 The steel industry announced re- auctions on various items early this year. These reductions brought the index figure on steel products down to PIT. The declines, however, were not considered by the buying public as being sufficient to interest them. No orders resulted from these de- clines and the steel interests found that further reductions would be necessary in order to stimulate busi- ness.
 Finally on March 20, after con- ference with the Industrial Board of the Department of Commerce, the committee representing the steel companies announced a new schedule of prices. The new schedule pre- sented an all-around reduction of 14& per cent. from November prices.
 "At the present time, the index figure for finished steel products is 195, that is to say, these products are now on the average 95 per cent above the figure for the period July l. 1913. to June 30, 1914. Since this average was obtained by a system of weighting similar to that used by the Bureau of Labor Statistics, it is com parable with the figures of that bu- reau. The Bureau index number for wholesale prices of all commodities for the month of February was 1e7- It is thus seen that the action of the conference on steel prices had the effect of bringing these products town to the general level of all com modities.
 At the time the new schedule on steel was announced the steel com panies stated that these prices would prevail for the rest of this year. It was also stated that the prices were