Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-08-09
LABOR LOOMS LARGE
IN THE STEEL TRADE
Feeling Is General That Situa-
tion Will Eventually Work
Out Satisfactorily

New York, Aug 9.-Although lead
Ing authorities in the steel industry are
not inclined to express anxiety over
4 the labor outlook, it is nevertheless
true that the situation has not improved
Eing the last week; and. if anything,
there has been an increase in the un-
casiness among the workers through
out the country.
There is a general feeling that the
situation will work out satisfactorily
but 1t will take weeks before the actual
result of all the present agitation be =
comes known. Reports that the United
States Steel Corporation was consid
ering the possibility of adopting col
lective bargaining were denied in off :
cial quarters, and there is no doubt
that If strike is called the fight will
be to finish so far as the leading in =
terest is concerned
The report of the Midvale Steel and
Ordnance Company, made public this
crsek, was disappointment, the show
Ing being more unfavorable than any
Dne had expected. The fact that the
company earned balance equal to only
forty eight cents per share on the
stock was the subject Of much discus
sion in tie trade as we'll as in this
financial district.
However, it is the popular belief that
the tide has turned and that the re
ports for the last two quarters of this
year will make a much more favorable
comparison, with larger net earnings
and more substantial balance for the
( shareholders. Operations of the Mid
vale company have been increased and
this will be reflected in the future.
Some good bushes was placed during
the past week and inquiries in the mar
ket indicate that the good business of
the past two months will be continued.
The Navy Department will take bids on
August 10, next, for IS, 900 tons of shin
plates to be used in connection with the
construction of two battIeships to be
built at the Brooklyn navy yard.
There is better demand for plates all
around. Domestic users are in the mar
ket, the leading buyer during the week
having been the Baldwin Locomotive
Works, which placed contracts for a
part OF its requirements in connection
7 with the order for $50 locomotives re
Gently taken for shipment to Poland
Each engine will require between thirty
five and forty tons of plates. Export
orders for the account of England and
Japan also have been placed.
The oil industry of this country and
It's development activities is now be
ing reflected in the demand for nlates
In addition to the large pine orders
which were placed in the past, il is nou
stated IN the trade that large orders for
plates TO be used for construction
tanks have come into the market. The
operations of the plate mills Of tbo
country have been increased 10 per cont
during the. past week. according to ro,
liable estimates in the trade.
Considerable improvement has taken
place in the market for structural ma -.
terial. Quite few structural mills in
this country are now operating at "a :
pacity on shapes and the demand con
tinues large. Ship plates also are in
demand, with some export Inquiries
leading interests believing that a large
order for shipment to France will bc
placed shortly.
Consumers of steel bars have shown
tendency to talk of their requirement.
Cor the first half of next year, although
the makers thus far are showing mo
signs Of accepting such business. Users
of bars have recently expressed tbe
opinion that costs will increase shortly
and this will put mp the price for bars
hence their willingness to place 1920
bnsiness at present prices. The de.
mand for nearer deliveries continues
brisk.
In wire there has been a decided
change ~ the situation. in that mills
ere not tnking all the business offered
<hem Even from regular customers
thc Inquiries are being questioned so
that only the tonnage actually needed
at nreaenf Is being taken care Of. This
h41 heen a9nsed BY feeling that prices
III nc( ps hold Al the present level
~. \ ~ lantisks sadyancss d. to CONS,