The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1919-01-02
OF CONTRACTS
AND EFFECT OH STEEL FRoD-
UCTS CONSIDERED.
Fifty four New open-HeaIth Furnaces
Wore Put In Operation During
the Year 1915.

NEW YORK. Jan. 1.-The Iron AEc
tomorrow will say:
The now year opens with cvid"nc"
Of sIackcnine nc,ivity throughout tn"
sIccl trad" In the holidays Their" nav"
bccn many shuidewns for repairs. hHi
r.sunD.icn this week nj a nufnhcT o!
mill crntrrs have not h""n in full force
and the prospects m some lines are
ina, z further Slowing down may como.
War work dr"ppct off throughout w.
c.mhcr. and present running schedules
as compared with ih"S" 81 N"N"mb'r.
show good signs "f EnirS. HuE!hE 81
thr emergency order. while II has
amounted - more than producers look
ed for. Is pinnly ur"Qua! /" the re-
pl1rrmrnt a. what has been l"S'. irr-
dir;juns rs 1" III" r0iinES for IN" HrS'
Quarter "t the Year range from - per
cent lu srm"wh;lt les.
In every quarter tn" question "t re-
adjustment If c"ntracts I" IN" irW'E
rriccs adopted TWO weeks aS" Nv J"ad-
ing sellers IS uppHrm"St Tx iT"n pro-
d,,rers SGT uu, - hold - IN" old prices,
hu, in the pas, the calls upon them for
the provision Of contracts have grown
in number and urgency. Some furnace
companies seem inclined 20 yield. while
others Strrnuously insist that contracts
be carried out us written. The lulihE
or of foundry operations is n factor
TO which much consideration IS gwen
however. and the adoption Of tho lower
basis for pig iron has found more favor
than was incdatcd week hEn. nat
some blast furnaces will not long oper-
iustmcnt in finished material will like
contract price is evident. and the read
justmnt in finished mutcrial VIII hKc-
wise impose some hard choices on hiEh
cost mills which must buy their raw
materials in tho market.
Pittsburgh reports sk"pttcisrn among
consumers as 10 IN" continued maintcn-
ancc Of the now prices nj a MINIMUM.
the situation in that respect turning on
tho rate at which hand-io-mouth dom"S-
tic buying develops and III" Willingness
Of foreign buyers to take hold Mt this
level. Rails figure in the weeks report
INQUIRIES several coming from Japan
and South America. including t.4Dp tons
from Brazil.
Some diminishing between British
and American steel interests for South
American trade indicates that export
priccs for this country have been held
above the competitive level. Th"rc is 4
serious handicap alone in tho high rates
Quoted from this country on British
tonnage. as compared with those from
British ports.
Few steel plate ccntcrs have been es-
tablished by the Eldvale Steel and FRO
duction Company on plates thinner than
one-rourth inch. Tho extra charge - a
percentage OF the base price instead OF
fiat addition.
Some western bar iron mills are ap-
parently willing 10 sell on Il Pittsburgh
basis of $50 per cent which. for tho
Chicago territory. means reduction Of
about soc per ton. As yet. no sales If
eastern bar have been reported on the
lower basis.
The annual statistics OF the Iron Cont
many show a new opcu-hcarth steel fur
naccs were completed and put in opera
tion in 1918. with m annual capacity Of
$4,000 tons. against 4.!3S.o00 tons n
year for that added in 1917. N"w steel
capacity projections for 1919. or under
construction represent only 1.l0N.H"O
tons a year. and at that, n" more than
industry calls for under present cnndl-
l,,irna BIAS; furnace construction Is
more in limo with steel requirements
,han for several years. Eight furnaces
were completed in 1915. with a capacity
OF 100000 tons Il ycar. Will" seven
are under construction. representing
], $50. Nnn tons a year.