The sun., 1919-03-02
WANT LIGHT ON
REDFIELD PLAN
Steel Men Not CLEAR on Boards
Relations to Department
Of Justice.
WAGE PROBLEM A BLOCK
Dulness Reigns in Market
and Trade Has Become More
Inactive Of Late.
WAGE PROBLEM A BLOCK
Special DespascA TO rns suS.

opccSot DcspotC" 70 4h@ pSss
PrrTsBURo, March 1.-secretary Red
fields proposal Of plan for the defia-
ton Of war time prices has been ap-
proved by President Wilson and 90 much
progress made that the official name
Of the proposed organization, the Indus
trial Board Of the Department Of Com
merce. was made public. 1t is composed
of six members. of which George N.
Peek, former vice-chairman OF the War
Industries Board. will be chairman.
Thomas C. Powell, director OF capital ex-
penditures of the Railroad Administra-
ton, will be a member. and labor will be
represented by Hugh Frayne, who occu-
pied a similar position on the War In
dustries Board. The other appointments
will be announced as acceptances are re-
ceived
Iron and steel men are not clear as to
the relations between the boards pro-
gramme and the Department of Justice,
some reports having II that everything
done thus far Is with the full approval
OF that Department. Other reports sug-
gest that the Department has been hold
ing back until the course of the proceed
ure of the Industrial Board of the De-
partment of Commerce should be more
clearly defined.
Iron and steel men assert that II. rs
Secretary Redfield has appeared TO init
mate, there ls to he no reduction in
wages, then the smooth and fun opera
tion OF the whole plan is blocked at
the start, because the steel man cannot
reduce prices without assurance that
the brick maker will do likewise.
Denation should 10 General.
They claim that IL steel comes down
and the cost of employing steel does
not, only a portion of the defiation will
take place and the demand for steel
would not be freed. Thus, according to
the steel trader. II the plan is to be-
come a success, there must be- found
means to give everybody assurance that
the deflattpn is to be general
Business has been extremely dull In
the whole iron and steel market during
the past week or so. and Is more pro-
nounced in it's dullness than 1t was
three weeks ago. A little ripple OF in
terest was started by an inquiry for
500 tons of foundry iron. March to June
shipment. equal to the merchant furnace
output for about half an hour, but later
the inquiry was withdrawn. In unfin-
ished steel there is practically no in
quiry, while requirements filed under
long term contracts are very light In
finished steel products buying Is chiefly
by the automobile trade and oil opera
tors, the demand for oil country goods
being practically normal, with other
branches of the tubular goods trade very
light
So far there has been no satisfactory
explanation OF the discrepancy between
the very small rate OF current buying
and the rate at which the steel mills
are producing. being fully 10 per cent.
OF capacity. which is 40 per cent. greater
IAaY, In, . I, ut,ao thak
the mills are working on old orders, with
intimation that possibly they will not be
able to operate as well when the old
orders be completed.
Steel Men Are ScepticaL
Steel men are sceptical because IL
there is steel consumption the consum-
ers will make fresh purchases when
their old orders are worked off. 1t In
we'll known that finished steel contracts
are elastic and II consumers did not
want material under contracts they
would not furnish specifications for roll
ing. II is not believed that anything
like all the steel being made is being
shipped to consumers.
Fabricating shops In this district have
narrowed in their operations as new
business Is not coming forward in any
where near the volume that old orders
are in effect at the Ambridge plant OF
the American Bridge Company, an ef-
fort being made in that way to stretch
out the business on the books OF the
company. Estimating departments OF
construction companies are busy and a
good many Inquiries as to steel prices
are coming to manufacturers. but little
or no business resulting therefrom.
There is some Emergency Fleet Cor.
poration business before the manufao-
turers here. but with the adoption of
the eight hour day at the shipyards tho
building programme Is moving forward
more slowly than formerly and specif-
cations against shape and plate con-
tracts are being extended. Prompt de-
livery can be made against current
orders for shapes and shorter dates are
being named on deliveries OF ship plates
Manufacturers say they are maintaining
prices that were established at the be-
ginning OF the year. which Is contrary
to current reports.