The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1920-12-24
|RON REVIEW

New York, N. Y. Dec. 23.-Ths Iron
Age, in it's weekly summary OF the lron
and steel trades. will say tomorrow:
The relation between the Steel Corpo-
ration's scale Of operations anu the
average Of leading independent corr
nanies has not changed from % TO ~
uer cent for the former and - to 10 per
cent for the latter. There Is wide varl-
alton In the activities OF independent
producers. the smaller companies farins
worse. Some Of the latter have COM
pIete shutdown, but would start up on
the accumulation Of a few days orders
The estimate OF a so per cant average
at independent mills In the nrst quarter
OF the New Year Is not uncommon.
Definite announcements OF wage re-
duc;lons have been made at Johnsto"n
Gainesville, Wheeling. w. Va, and Bur
falO. generally about 90 per cent, with
elimination OF overtime. No reductions
have been made at Chicago or al
Youngstown thus far. but January VII!
bring many announcements.
No further reports have come out OF
changes to eight hour shifts. On the
other hand, the Inland Steel company
in the Chicago district, finding that
three eight-hour shifts, with higher
hourly wage, has added considerably to
cost, will return to two 1a-hour SHIFTS
on January !.
The amount Of new business comins
to the books Of the mills Is underesti-
mated in some current reports. Natural
", II is for early delivery, but 80 many
consumers and dealers are running on
small stocks that producers continue to
hear from them. Such week-to-~eek
buying is to be expected for some
months. In the past more wear and tear
has been counted food for 80 per cent
mill operation. The S57 price for open
hearth rails for next year was shor'
lived. Already independent makers
have como to the Steel Corporations
s47 price. The higher extras charged on
the more nxacting specifications are but
slight mitigation to independent mills
since thay apply to a relatively small
tonnage. Tho railroads have ordered
about 10000 freight cars this year, and
if financing IL put through az now pro-
posed, will increase the total to abou,
5000, including 1900 refrigerator cars
Locomotive orders for the year And
others likely TO be financed amount to
1900.
The whole scale Of railroad buyins
apart from rails, shows that the steel
industry's expectations OF what would
come from increased freight were far
too optimistic In the cost reductions
that are ahead, iron and steel makers
may be expected to move Against the "a
per cent increase in raw materials
freights and the added burden OF the
coming system.
The leading cast iron pipe maker Ia $
reduced tho price to $1s, or from 50 to
SS5. Birmingham, for class water
pipe. The cut is considered deep enough
to bring out postponed municipal work
The blowing out OF blast furnaces
continues. seven or eight stacks heinH
reported this week that have Just
stopped or will be out by the end OF
this year. Lake Superior iron ore ship
mcnts Of 1929. in the present outlook
will last we'll beyond May ]. Estimates
are that from 20,oo0.00n TO $4,000 6ot
tons will be on Lake Erie docks or in
furnace yards on that date. a good
many Lake Superior mines are closed
and the prospect for winter work at un.
foreground. properties is far from en-
couraGing.
Welsh makers Of tin plate are ncgoti-
ating for large Canadian order. &C.
cording to our cable advice. British
prices for ship plates. boiler plates and
steel hoops have been reduced. Bust
ness is at a low ebb throughout the
British industry.