The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-10-19
MAHONING VALLEY
! RESUMES ACTIVITY
operations Of Blast Furnaces
Is Started by Four Large
steel Companies.
TONNAGES NOT NORMAL
Pittsburg and Cleveland Zones
Begin Work and Prospects
Are Improving. =
TONNAGES NOT NORMAL
specia, Despatch TO The Sun.

Special Despatch TO TIE Sun.
P1rTsBuRG, Oct. 1S.--From the stand
point Of production the most important
ssvelopment in the iron and steel strike
has been the beginning of resumption
in the Mahoning Valley during the last
week. Starting with operation of one
blast furnace last week by the Youngs-
town Sheet and Tube Company, the
number of blast furnaces operating there
has increased to at least five, including
two Of that company and one each of
the Republic Iron and Steel Company,
the Brier Hill Steel Company and the
Carnegie Steel Company. Although
tonnages from equipment operating are
as a rule below normal, the important
thing is resumption. The Wheeling dis
trict remains tightly closed. as expected
BY employers, but there has been a
small beginning in the Cleveland dis
trict, which is expected to open up much
wider next week.
In the Pittsburg district operations
are getting daily better to the extent
Of several hundred men added to the
force, and some finished steel Is being
turned out. Steel production in the in
dustry can be estimated at about 80 per
cent. Of normal. 1t has been noted that
producers are loath to say how much
they are able to do, and the disposition
Is to minimize output to keep customers
from expecting too much delivery. A
decided scarcity of nearly all steel prod
ucts has developed undoubtedly. but con-
sumers are not making complaints, as
they are interested in seeing manufac-
turers completely victorious. Up to date
the loss in tonnage has been more than
40 per cent of four weeks production,
or approximately 100000 gross tons
of finished steel products. the loss being
not far from equally distributed among
various products. The loss is felt much
more in such materials as oil country
goods and merchant bars than in plates
or tinplates.
Sheet May BE short Soon.
Sheet consumers are making more ef-
fort TO ascertain from producers what
delivery prospects are. The majority of
consumers are near the point where
they cannot depend on stocks to make
up for curtailed shipments from mills
due to the strike. Many sheet producers
are getting practically normal deliver
les, depending chiefly on to what mills
they gave orders. Mills state that in all
cases consumers are very sympathetic
and show no disposition to exert pres
sure or urge them to do more than can
be done in the circumstances Inde-
pendent sheet mill operations have in
creased since last week. particularly be-
~ a M
tically full At several individual plants
there are more mills in operation. 1t is
estimated that 10 per cent OF independ
ent sheet mills in operation the week
before the strike are operating. but only
about so per cent OF all such mills, as
only about 20 per cent of them were in
operation at that time. The American
Sheet and Tin Plate Company is oper-
atng s. per cent. OF its sheet mills.
against So per cent, last week
There is practically no market In
sheets, as producers are not in position
TO sell Some inquiry for blue anneal led
sheets for automobile work to take the
place OF strip steel. which is now in
very light supply. has been received at
the mills but jobbtng mills are not in
position to take more tonnage. The
market can be quoted unchanged at
March p prices.
Expect Higher Values.
The chief reason why appraised values
OF iron and steel scrap have not
changed in the last few weeks is that
there is no market activity on which to
base changes, Opinion that values after
the strike win be higher has been cry
stallizing. That view was entertained
by few observers at the outset AL
though the market has been inactive,
Il has been furnishing information, as
II Is being made clear that no unwieldly
examinations Of scrap are piling up.
The tonnage forced on the market is
very small. lots being chiefly OF single
carloads This material the large deal
ers absorb readily. Sometimes prices
are Tar below values assignable to regu-
lar mill lots. but transactions do not
represent the market customarily quoted,
me market being understood to consist
OF regular lots Of the size ordinarily
purchased by consumers.
So far as known all scattered West
ern Pennsylvania merchant furnaces in
operation before the strike, are in blast,
including the Clinton, the only merchant
Stack IN Allegheny county. In the She
mango Valley the only idle merchant
sIachs are Sharpsville furnace and two
shenango stacks Thus there is a very
sood volume Of production of merchant
pig iron, and there is no definite scarcity
IN mat district The consumption Of
foundry Iron is not affected to much
extent by the strike. The consumption
OF steel making iron. of course, is re-
Guced somewhat Earlier in the strike
mere was some buying OF Bessemer and
taSc IRON by steel interests to make up
Ior production that they were losing
anu there were reports of some iron GO
ing at concessions. Large steel interests
seem to be able to operate their blast
furnaces 10 as great an extent as their
s'eei mills and. therefore, would hardly
Atsu outside iron. The local pig iron
market Is very quiet. Prices remain
VI the March FL basis Although the
market is firm, it cannot be said to be
N'ner than Just before the strike.
STATE BANK STATEMENT.
'tdANARY OF STATE BANKS AND TRTTs1
0OAIANIEs IN GREATER NEW YORK.
NOI INCLUDED IN CLEARING
HOUSE STATEMENT.
Hlgures furnished by State BANKING
In,,. Department)
loans, discounts. in