The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-09-04
OUTLOOK OF STEEL
is MORE CHEERFUL
Reviews Attach Diminished
Importance to Factor
of Labor.
CAR SHORTAGE Is CRUx
August Bookings Generally
Arc Ahead Of Capacity and
Mills Buster.


weekly trade reviews to be issued to-
day assert that the outlook in the iron
and steel industry is more cheerful.
They attach diminished Importance 70
the labor factor and state that Au-
gusts output closely eoualled that Of
July, with shipments hampered only by
car shortage. The future. with the COM
Ing grain movement. does not hold much
promise In the way OF a better supply
81 cars. Bookings, the reviews say. gen.
orally exceeded capacity, and the fact
that T. Is getting more difficult to place
business with tho mills Is conceded.
The Iron Age continues: "In lines
where the pressure IL greatest, such as
sheets, the lack of skilled help is a
limiting factor in production, and higher
prices could easily be obtained. The
resistance to any marking up of the
major items In, steel products Is still
strong but steel bars. a minimum, but
difficult to obtain at 2.S5c., Pittsburg
basis have been sold by at least two
mills at 2i0c., 2.4sc. and assoc, and
2sOc is now the bottom price with
another mill.
Forward buying is thus suffering
some curtailment because of the price
uncertainty, for indications are that or
no extended commitments at to-day's
levels are necessary.
"August's production of pig iron.
2,745,3SS tons, was as much greater than
that of July, 2.42S,541 tons, as July ex-
ceeded June. The daily. output in Au-
gust was Ss.496 tons, against 1880 tons
in July. The blowing in of furnaces
kept up through the month, 26e being In
blast on September 1. as against 23s on
August l.
1.-THE rate of pig iron production on
September 1 was 1880 tons day. or
at yearly rate of about 34,5o0,000
tons. The 1915 output was 3s,400,o0o
tons. The daily rate a month ago was
$685. tons.
THE pig iron market is strong. The
tendency toward higher prices, especially
in eastern Pennsylvania and the Cleve-
land district. where advances of so cents
TO 81 have been made, is pronounced
despite a very conservative policy. espe-
clally as to sales for delivery into next
year. Evidence Of increasing foundry
melting adds to the strength of the
market
Say British UnderseIl Here.
"a climax to the receding ferroman-
ganese market comes In the fling of
complaint with the Federal Trade Com
mission against British producers of
ferromanganese and their American
agents. Leading American producers
charge that the British are dumping
their product In this country at prices
lower than the cost of production in an
attempt to destroy the new American in
dustry. The day following the fling OF
the complaint. but probably before the
fact was known. the British lowered
their asking price from 500 to sos.
c. |. (. Atlantic seaboard.
Further railroad car requirements
have taken tangible form. The Pennsyl-
.vania Railroad is asking for 1000 to
1000 tons of plates. 300 to 1000 tons of
shapes and 1000 to 1000 tons Of bars
for car repairs. Among recent export
orders are two for steel car wheels,
400 from Spain and 2.4o0 from Japan. -
The Iron Trade Revietc says in part !:
Diminished importance is ascribed to
the labor factor in iron and steel trade
conditions as the result OF the weeks
developments. While at no time have
the rank and file of producers and con-
sumers permitted themselves to enter
tain serious misgivings over the general
strike threats, the acute stage for even
partial dislocation OF output is believed
TO have been passed. Manifestly the
more radical elements in union circles
sci. after having attempted to paint for
public consumption some absurd and
untruthful pictures of working condi-
tons. Plant operations, as respects
labor disturbances. are more nearly
normal THAI taey have been in weeks
Producers, nevertheless. are being
= bothered in some degree by n shortage
in working forces which renders it
impossible to obtain the capacity yields
demanded hxy fnr
products.
Operations Average 10 to 80 p. c.
'As whole, plant operations. con-
tinue TO average around 20 to so per
cert, being held down by the sluggish
market In railroad material and plates.
lnere is considerable evidence Of i'm
provement. however, in the latter lines.
New shipbuilding work especially Is
coming out more freely In the East
10000 tons are involved in four vessels
about to be let and 1900 tons of shop
steel are wanted for export A South
ern yard is buying 5000 to 1000 tons
Tor two golfers. Lake builders are
nguring on 5000 to 1000 tons of new
work. The navy has awarded the Car
hegie Steel Company $500 tons OF
plates shapes and bars for two battle
ships at the reduced prices recently
submitted and $500 tons to the Phoenix
Iron Company.
August has continued the progressiv,
Improvement in high iron. operations anc
production shown in July and June. TIL,
month Just past recorded a further gail
OF tWenty-three furnaces In the activ,
Inst and of 302.369 tons in the total out
put The number OF stacks In blast wa
raised TO 1853 and production to 2,726, IS,
IONS. The tonnage increase would hav
oeen greater had It not been for tn,
temporary suspension of various fur
naces due to labor difficulties or to tn
lack of cars growing out of the railway
shopmen's strike, notably in the Cleve
land and Chicago districts. August
showing was the best since March
Selling has been shut on more sharpl,
IN various mill lines because of the heav,
obligations OF producers and the reced
ing deliveries. Tin plate mills In Angus
delivered the heaviest tonnage of order
OF any similar month in history"