The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-03-30
NOT MAKING new
STEEL CONTRACTS
Most Buying Is by Orders
With Specifications for
Delivery at Once.
VIEWS DIFFER GREATLY
Many Claim Reductions Are to
Cause Activity, but Others
Scott at Them.
Special DsspatcA to TIE Sur.

r1rrsHuRo, March 2o.-No contracts
TOR steel are being made at this time,
as most Of the buying is by orders with
specifications. What new purchases are
being made are for immediate delivery,
although in few cases the deliveries
ace spread over a few weeks. or course.
many OF the old contracts are still in
force, stu running for various periods.
and specifications against them are be-
Ing filed from month to month In the
case Of business that 10 subject to price
adjustment according TO the market, the
new prices were made effective at the
beginning of business on March 81. The
mills were very prompt as regards. the
change, perhaps because the effort OF
last December to keep the Government
prices on shipments to the end OF the
month caused SO much dissatisfaction on
the part of customers
Many and widely different are views
OF iron and steel men regarding the price
reductions announced last week. The
consequent discussion this week has not
resulted In a capitalization OF opinion.
Many express enthusiasm concerning the
reductions and claim that business will
be active. Others assert that the re-
auctions viii do no good, that buying
will be neither greater nor less than
II the old prices had been held. Some
prefer the optimistic utterances Of the
United States Steel Corporation chair
man. but many free minded men claim
that heavier reductions would have been
better. .....
Time Not Ripe for Buying.
They are disposed To feel that the time
~ not ripe for a genuine buying move
ment-with widespread demand, Some
of them express the idea that the peace
treaty must be signed and actual peace
come throughout the world. and that
then, after the condition becomes IA
niliar. business will get its real impetus
and there will be as good times as are
In store for the world at any time.
AS 10 the prospects for railroad buy
ing. much discussion has developed in
this district this week, in some quarters
Il being Insisted that q considerable
volume Of railroad buying formed part
OF the operation put through by the In
dustrial Board last week whereby steel
prices were reduced by O considerable
margin, making them average 81 per
cent. below the Government schedule
during the war. In those quarters 1t
Is said that railroad orders will be
placed very shortly. including 1.o00.-
900 tons Of rails to be placed within
q week or two. In other quarters the
view 10 expressed that railroad buying
in tho near future Is improbable. for
TWO REASONS. tNkt inc T1uTOduo w iot
seem to be- greatly in need OF material,
while the necessary funds are not In
sight The railroads have idle cars
and locomotives, It is pointed out. as II
ID. while ,as to rails II Ia understood
that there were 100000 tons on the
books at the first OF tho year. all at
$40 or less a ton. $40 having been the
maximum price on rails before the
United States entered the war
Rail Purchasing Quiet.
There had been two advances. IS a
ton each in 1916, when the war had
been in progress two years. With the
700, goo tons of rails for this years lay
ing at $40 or less, 1t In thought that
perhaps the railroads will not hasten to
make fresh purchases at the $47 price
fixed last week by agreement between
the rail mills and the Industrial Board.
There has been no information re-
Gently as to action being taken regard
ing the $1,000 to. 10000 cars remaining
unbuilt against orders for 100000 cars
placed by the Railroad A ADMINISTRATION
lion nearly a year, ago on behalf of the
railroads. About 20. 900 OF the cars We
delivered. while few more were made
and refused by the railroads on account
of the high cost. and because. according
to the railroads. they did not need cars
or at least the particular kinds In
volved. There evidently che matter
stands quiescent- ....
In biilets and sheet bars very little
new business of n character different
from what was going on before las
weeks So q ton reduction In prices nal
developed. a moderate amount OF speci
ncations for billets and sheet bars wal
released by the reduction, especially
sheet bs.. which evidently had beef
held back III anticipation OF the rednc
ton. No new customers are In the mar
yet and there Is no disposition. to maxi
forward engagements. The new price Of
forging bihets is SOL. IS under last De
oember's price and 50 under the War In
dustries Boards price. but forging bill
let's are practically dead. The fors
shops are not doing much. and whel
they need steel they can generally pic
out some discard steel or regular shel
steel that win do practically as well. an
at an extremely low price compares