New-York tribune., 1920-10-24
NOPessirnism
Felt in Steel
Trade in ,Wesl
Let-Up in Pittsburgh D;,
trict Hardly NoticeabI,
and Operations Con-
tinue Nearly at Norm.
Hint of Wage Reductio,
Elimination of Prem;ur,
on Quick Delivery II
stead of Price Cm'

PITTSBURGH, Oct. 23-Ths 49,.
ism over conditions in the steal ;.s
try which has invaded the East ;a
making headway in the Pittsburoh ~
trict, in spite Of the taperinp ~
new business. The raid on steel ,.,
ucts used in the motor car jna,..''
which was started By Henry Ford =
mediately following the announcsr.-
Of cut in the price Of Ford car, \.
not forced concessions from the ls,r.
mills, although il has caused thu
ductlon in operation or suspension =
operation in number OF smaller ul..s
IN this district which were booksa :,
entirely on special parts. The nrona.l'
ton OF steel going TO the automobile ~
dustry, according 20 leading ste.l r.,n
facturers here, has been largely ovs-
estimated, and the cancellations fror
THIS source are not causing alarm.
Railroad buying has slowly started
Ihis source OF consumption takes n.sr
ly one-thlrd Of the output Of the com,
try's steel IN normal times.
A leading building contractor h.r,
said that the building program. Ion,
delayed, is now on the eve of resnmini
throughout the country, and he exnart,
to witness the placing OF large order,
for material between Election Dav snl
the first Of the year.
Now Buyers Market"
The present steel market ;s what /,
known as a buyers market" where's,
up until this time the market has hsss
entirely in the hands of sellers and N,
price was the matter Of least cons;S
Grafton. The independent steel mann,
facturers have been getting price,
which virtually amounted 10 premiumi
for quick delivery service. The ouli
falling off in the market has been Il
these premiums, and steel prices cl
the Independents are slowly droppino
to the level of the United States SteeI
Corporation, whore IL ! expected they
will rest.
Judge Gary's remarks 70 the Amer.
can Iron and Steel Institute are taken
here to apply to these premium prices
which have been obtaining. and also "a
the prices which several smaller con.
Germs have been getting for special
products, the demand for which Is nov
falling off. 1t Is known generally
among the trade in this district that IN
some lines the Steel Corporation has
been creeping up on its prices for in,
mediate delivery, pleading the neces.
sity caused by increases in freight
rates.
Operations Near Normal
Operating schedules of the principal
producers in the Pittsburgh and
Youngstown districts continue nearly
normal. There IS comparatively little
unemployment. Several small works
engaged principally In motor car parts
have been closed or have curtaiied
their operations from one-third 10 one
half
President James A. Campbell. Of the
Youngstown Sheet and Tube Company,
says that current new business is al
the rate of from so to 60 per cent Of
One OF the bright features of the
market IS the sustained demand for
both lap weld and butt weld pipe The
tin mills also are heavily booked up
into 1921.
Several suspensions Of smaller works
have taken place in the last few days.
The Braoburn Steel Company is re-
ported to have closed down until the
first of the year.
The Savage Arms Corporation plant
which manufactures all kinds OF auto
mobile parts, has been forced to shut
down, affecting several hundred men.
The indications are the plant will not
resume operations until the first OF
the coming year. The Petroleum Iron
" orks Company has dispensed with
t,,sn = 4
slackening up Of business. The Stand
ard Tank Car Company. which makes
tank cars. has laid of IT'S entire night
force. 1t IS said that the company this
week obtained am order for 100000
worth of cars. but as II turns out
twenty-five cars when working at nor
NAL capacity. 1T will not take long to
nll this contract
Let-Up Hardly Noticeable
The Sharon Pressed Steel Company
is also feeling the effects OF the slump
IN business and It's plant a. Wheatand
IS not working near capacity. Despite
the slump in the above mentioned ines
of business, there seems To be no let
up in the steel trade IN general The
United States steel Corporation IL
running its Farrell works at full ca
phC4t y ilN lNtiAIt- Liz Nai"t
steel min, tinplate. sheet and wire and
wire nail departments. The Sharon
works Of the Carnegie Steel Company
has been closed for TWO months. This
is a high-cost plant and il is not prob.
able it viii start before the first OF
the year
In some circles It IS now believed
that reduction in wages is on the
way. an intimation of which was cor
tanned in the remarks Of Judge Gsry
10 the Iron and Steel Institute yesier-
day. It Is also said that since me
falling of in certain lines Of sfeei
products there has been in increase Of
efficiency upon the part of certain
classes OF employees. In the main
however. the steel workers have never
shown the inclination 20 retard pro
duction which has characterized the
building trades and in many Of the
larger mills record productions nave
been turned out during this summer
and fall
Sheetings More Actiye