New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-11
Gain in Steel
Industry Grows;
More at Work
Employees Idle for Two to
Six Months Are Back on
Job; Rush of Orders
May Come Along Later
Recent Prices Holding
Plants With Diversified
Finishing Operations
Are I'm Better Position
spscsui pt.paseh 20 Tbs Trf5wss

Special Dispaseh 10 Tbs Tribune
PITTSBURGH, Sept. 10. A pro-
nounced improvement in the iron and
steel situation manifested itself
through the district during the last
few days, and many steel workers who
had been idle from two 70 six months
returned to work. The steel industry
is working upward and getting strong.
~ into position for another busy per-
Tod, is the opinion Of many manufac-
turers, while others are Of the opinioa
that the boom 10 Of temporary na-
ture, and that it will be some months
before the rush Of orders is received.
With the resumption of the plant Of
the Valley Mould & Iron Company al
Sharon at 80 per cent Of capacitys
blowing in Of Blast furnace No. 3, 81
the Shenango Furnace Company, starts
ing of ten additional hot mills at tha
Farrell pa works of the American
Sheet & Tinplate Company and inc
creased production III the mills Of thu
American Steel & Wire Company in
the Shenango Valley, about 1000 men
were affected.
Several thousand steel workers were
put on three TO fve-day week when
al the mills Of the Duquesne and
Homestead plants OF the Steel Cor-
poration operated this weak The only
mills idle now in this district are tbs
Howard Axle Works and the 1fo-inch
plate mill Tho situation gives a
bright outlook TO the thousands Of
workers employed in two of the iarg-
est plants Of the corporation. For the
last few months these plants have bsen
futtering at zero.
Working OF Big Orders
Several of the most important fnde+
pendent steel producers report that
they are working off q number Of Isrgs
orders and that September bookings
thus far have been in encouraging vols
ume. While the Youngstown Sheet q
Tube Company has been considering
the suspension Of No. blast furnace
in its East Youngstown group for
temporary period. no action toward
stopping the stacks production has
been taken. Schedules OF the Carne-
gle Steel Company IN the Mahon,n5
Valley district has been largely acl
CELEBRATED this week, and in som del
partments have reached 10 per cent.
the General Fireproofing Company ID
operating its metal furniture departs
m ent IN Youngstown on a sustained
basis of 40 per cent and It's reinforce
ing materials capacity st 80 per cent
Steel makers believe that incoming
tonnage will show fresh advances ID
October. 1t is pointed out that makers
with wide finishing capacity are ID
much better shape than producers.
whose range Of finished comm odities ID
! limited. For instance, during SONS Of
the leanest months this summer. when
a number Of interests ware on ths
verge of suspension, the two Mahonind
Valley district pipe makers were en1
| abled to maintain activity In theft
| semi finishing mills by producing
material for skelD and eventually pipe,
Now, when pipe demand has wsned
tor the time being. such makers are
finding that buying Of sheets. strips,
shapes, wire and nails is holding up
Price War Opposed
Leading executives in this territory
say they have no desire to participate
in price war, inasmuch as they ard
now losing heavily at the current
prices and the relatively low state Of
operation in comparison with capac4
ity production. A number of inde-
pendent leaders say they would prefer
to suspend, rather than engage in
ruinous price war. The suggestion has
also been advanced that orders bs
pooled and worked of by the interests
which could do 50 TO best advantage,
1t is unlikely, though, that it viii be
needed.
In the sheet market, recent prics
levels are being fairly we'll sustained
with exception of galvanized sheets,
which are said to have been sold as low
as 3 CSC, in comparison with the going
market of 3-75c. Common sheets ard
held at 2.75c. generally and blue ana
nealed at 2.25c.. A number of orders
for sheets for metal barrel stock ara
being filed by the Falcon Steel Conn
pany.
Recent price reductions by number
Of leading low-priced auto makers ara
expected to stimulate buying Of ears
and thus to react favorable on makers
of sheets and strip steel. Producert
Of full finished sheets have been undes
somewhat less pressure recently from
automobile interests, though theft
shipments are going forward uni4
formly.
Auto Trade Watched
Amy diminution in auto manufacturd
will be Immediately rsdectsd in tad
Youngstown sheet and strip markets
inasmuch as the bulk OF such tonnage
has been moving to automobile FACT
tories for several months. Within tht
past three weeks, however, there havs
been more strip orders from othes
sources. Hot strip has weakened and
Is now quoted down to 1eoc and up to
225c, while the range On cold strip ID
from $3.50 to dc.
Black sheets are selling uniiorrnly
In round-lot tonnage, though soma ceri
losd lots are going forward.
The wire ard nail market Is SOS,
tanned, though Il is declared prices ard
being shaded, especially on nails. int
dependent producers in these lines ard
fully up 90 so per cent.
Standard basic pig iron is still held
at si9 TO $50, though there are few
sales at these figures.
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