New-York tribune., 1921-10-30

the UlSlASQ NVAAR&NtCS W0QtQ De o.
$4,000 tons, of which the Sheet and
Tube Company alone has 100000 tons.
In this respect the new consolidation
will rank in size and Importance next
70 the United States Steel Corpora
ton. The three companies make prsc-
ticslly every finished steel produit
Special Dispatch to The Tribune
PITTSBURGH, Oct. 29-The calling
Of Of the railroad strike is expected to
stimulate the steel industry here to
certain extent, but hope of q genuine
revival is not entertained by the lead
ing manufacturers in the PITTSBURGH
and Youngstown districts until dras-
tic cut is made in freight rates.
Rates Prohibitive
The present railroad rates are so pro-
hibitiye that the manufacturers of this
district, compelled to sell within a
short radius of their mills, have
turned to other means of transporta-
ton In an effort to get goods to their
customers on a reasonable basis of
cost Some of the smaller mills making
special products have been shipping
considerable distances by motor truck.
Others have undertaken long-distance
shipments to the Pacific Coast by wa
Ter through the ports of Philadelphia.
Baltimore and New York. The first
project looking 10 using the inland
river system was undertaken here this
week, when the Jones & Laughlin Steel
Company shipped nearly 100 carloads
Of steel in barges down the Ohio and
Mississippi to st. Louis and interme-
date points.
The shipment was made in seven huge
steel barges pushed by a towboat, and
goods we're consigned to nearly every
city along the rivers excepting Cincin-
natl, which has been ascertained to have
no adequate wharfage or unloading ia
cilities for river shipments. Great in
terest is being taken in this experiment,
and it is stated that the steel company
undertaking it is preparing to continue
the service indefinitely, in the expecta-
ton OF building up a permanent river
transport system which will lay down
steel products In inland cities st great
economies in freight costs.
1t is believed here that upon the out
come of this first trip, if it proves as
successful as expected, other stel COM
panies and also manufacturers of other
products will again turn to the great
waterways system sof the country, once
the freight routes of the nation. which
vii! begin to come into their own at
last.
Rumors of Mergers
Ruinors of possible merger of sew
eral Of the independent steel companies
nave become so persistent and are keep
ing up with such force that it is be-
isved here a very tangible effort to
effect new combination is under way.
A method of merging, with need for
comparatively little underwriting
funds, is said to have been worked out.
1t is said to be planned to put the
properties together on some mutually
satisfactory basis, and then instead Of
writing up stock values, uniformly re-
duee them, thus bringing into the com
hnation properties with their stocks
around the present market, and there
BY obliging affected stockholders to go
along to protect their interests.
W. A. Thomas, former president of
Tue brler Hill Steel Company, and still
director and member of its executive
committee, expressed much optimism
over the business outlook. He states
that not only are conditions actually
better in the industry, but that con-
aitlons are developing which will make
ior continued Improvement. The un-
employment conference at Washington,
ne declares, is already bearing fruit
10 stimulation of public works and
tne greater employment being given
mie labor by individuals. He forecasts
alsh pressure business for next year.
Increased Production
:. The action of the Republic Iron and
nseei Company in warming up four of
tne eight mills in it's new sheet plant
St Niles indicates its faith that the
sheet market will hold its own. With
sais new complement the Republic COM
pany will have eighteen sheet and job
ping mills at its Niles works.
ihe Trumbull-Cliffs Furnace Com
pany may start it's new 600-ton stack
~ az Warren some time in November,
.nough the date is still believed to be
sentative. The company has built up
months.
The Homestead Steel Works is
0perating this week on the basis of 70
per cent of capacity, which is the best
.s .ssoesd since the steel depression hit
sae Monongahela Valley some months
sto: The Duquesne plant of the Car
sassle Steel Company is close second
- tne Homestead works. Additional
Spen hearth furnaces are in operation
"a she Homestead works, and with the
;s.ception of few milsl the big plant
s IN full swing.
- National Tube Company officer
ssAted that their average of operation
~ Ss tnis week is So per cent and that
.aey are scheduled to operate 81 per
tsa ssns next week. He states that this
Tssses iaso consideration one idl plant |
;an sae National works, he said, is operat- |
"a Az at the highest rate, being close to
ou Per cent.
IL Per Cent of Capacity
r. Ihe American Sheet and Tinplate
70 mpany plants are Operating at about |
a. per cent of capacity and sheet mills |
d. running about 80 per cent, with or
oss sse sufncaent to continue at this rate /
~ tue balance of this year
xssaase ssae Sharon Foundry at Wheatland, |
sh e.nsa mas been running on low per-
,rsa ,rassge OF operation for a year or
NJ ~ and idle for the past two weeks, |
Sl;umined q; this week. President w. w. |
Ming stated that the company has /
81, !. some good-sized orders which |
Keep the foundry running for some |
fa~ All of the material ordered is
=, immediate delivery.
a. o.. Ie'roieum Iron Works Company
cent - Is now running about so per
inc ~ " capacity. The company is figur-
m. va some large contracts.
WE sharon Pressed Steel plant at
R,ss Is also doing we'll Equipped
sSne of the largest and most mod