Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-14
STEEL ORDERS WILL
KEEP PLANTS BUSY
Corporations Untitled Tonnage
Cause of Varied and De.
cidedIy Opposite Opinions

New York, Feb. 14.-The leading de-
velopment in the steel industry recently
was the increase of more than. 1,00o;
900 tons reported in the untitled orders
of the United States Steel Corporation
as of January 81, last. Opinions ex
pressed on this report are varied and de-
cidedly opposite. ...,-'
For instance, some observers state
the fact that the corporation is accept
ing new business at rate SO much
ahead of production is not to be con
sidered a most favorable factor, because
they believe that prices will be advanced
later and then the corporation will be
filling orders which were taken at the
present quotations. .. ...-.a
On the other hand, the leading au.
thorities make the point that the cor
poration's attitude on prices is well
known and add that the management
will hold off making any increase IN
quotations until it is virtually forced to
take action. They assert that the cor.
| p0ration can make a good profit at
| present quotations, and even if higher
price were to rule on the present book
ings the greater part of the advance
would go to the government in tax pay
ments.
Therefore, they argue, the corpor.
atoms management has shown keen
business Judgment in continuing prices
for the time being at least, and the
action is likely to result in one of1the
most favorable developments in the af'
fairs of the leading corporation in the
future. Certainly, the total bookings on
hand now are sufficient to keep the
plants operating at present production
until some time into the last quarter
OF the year at least.
The report of the American Iron and
Steel Institute showing a decrease Of
!4, ,l16 tons in the ingot production in
January as compared with the same
month of 1918 did not cause any sur.
prise in the trade. 1t was known that
operations were curtailed during the
month and the expectations are that
February will show a further falling
OH owing to present curtailment.
| conditions in the trade have changed
but little in the last week. Reports
from manufacturing centers state that
operations are still being curtailed by
the car shortage and by adverse weather
conditions. No, Improvement in the
| immediate future is looked for, although
the managers of the various mills are
making every effort to overcome the
| obstacles which have confronted them
recently.
| There is no slackening in the demand
for steel products, especially for wire
and nails and for ''oil country goods
1t is learned that the buying OF wire
and nails recently has been enormous
This is not considered unusual, now
| ever, as the season is now on when
| iobbers all over the country place Or
ders for their requirements later IN tne
year. 49,,
In some quarters it is stated tna'
many jobbers will find their stocks az.
pleted to an unusual extent, with tns
possibility of replenishment interfereaa
with by the late deliveries, etc., wnCa
have resulted from the car situation anu
other influences. Some interests nav
expressed the opinion that the loGSpe,s Sens
at present are "overbuying in me WI
| of getting at least some of the maIelia
wanted. but this belief is not held sen
orally in the trade. -. to
The demand for nails has grown ~. ~
remarkable proportions and some o. tn'
independent makers are asking anu
ceiving 81 or more over the price :,
So % per keg asked by the. AmetoH1
Steel and Wire Co., the leading inaI ~ Ss
facturer, which is still holding 10 .isI I
prices agreed upon with the inausIiI,stt " iast
board in Washington in Marcn VI
year. -,-... and
The pig iron market is strohs che hp
buyers of nearby material are ~ hiSh
market and appear willing to payy % tSst
prices for the iron. 1t is reporleu nsde
one sale of basic pig iron was last Iast
at $44 per ton, valley, during tn1 roSny
week. This indicates that tne rI Td ind
consumers in need of the iron wi siad AT
it difficult to get their orders .ad u,d1
the time the deliveries are wantI,'t the
Several large inquiries are y prc.
market for future delivery puv accept
ducers are not at all ANXIOUS 20 tss a con
this business at present due TO tne N oyb be
tinued belief that prices are .;anuueted aud 10
advanced further. 1t is esn n'fsoh1dry
some official quarters that io[ ;cS came
iron alone the new inquiries wOl~o wnwv be-
out during the last week ihvv tns With
tween 40 900 and 10000 iona othet
large contracts pending \"
= grades.