New-York tribune., 1921-07-31
De Iaei0n IN Steel

rushing to its completion. 4 is more
than possible that within week or two
purchasers wlll see the end in such
drop in prices as viii convince them
that the bottom has not only been
scrapeG and struck, but dug Ito. This
it is said will turn the great steel IN
dustry back again to forward course
What remains to be done is OF relative
~ small consequence compared with
what already has taken place. 1t is
believed that business has reached a
new starting basis. Price cutting IS
still rampant, but soon a definite price
basis will be reached. This is the gen.
eral opinion of all steel officials who
have been seen during the week
Improvement in buying IS generally
reported by Independent iron and steel
interests in the Mahoning Valley Rec
ords just compiled SHOW, for instance,
that the United Engineering G Foun-
dry Co, of this city, shipped from its
Youngstown district plants 1900 tons
of finished products IN June, so per
cent Of which were on foreign orders,
as compare; with 1900 tons shipped
during May. Some OF the sheet ton
mage recently placed by the Ford Motor
Company has been taken by Valley in
terests at concession prices.
Inc I llI pul- 0ltSI company 15
working oil a large hot strip tonnage
placed by the Ford Company, while the
Brier Hjl Steel Company is rolling
sheets on an order placed by Dodge
Brothers. Railroads are expected to
release substantial tonNagcs OF steel in
September, and important car repar
contracts. involving heavy plate ton
nages, viii be placed, it IS declared, in
August.
Z Iinpiate Recovering.
That the tinplate business is slowly
recovc ring is indicated by the starting
Of ten more hot mills at the shenango
plant OF the American Sheet and Tin
plate Company at New Castle tais week.
Sheetmakers are especially Keen for
business, and prices on black and gal.
Vanized are being still further shaded.
Both grades have rcceded from quota
tions Of 3.25c and 425c. respectively
for black and galvanized, to Sc and 4c.
one noteworthy feature OF the current
sheet market is the fact that inquiries
are being received from interests
which have been ont Of the market for
a long time, ana from widely separated
sections OF the country.
In connection with the wage con-
= S-i-t.N- III Nf4itCttD DRt-t.'ll tfAt iron
manufacturers and representatives o.
employees, 1t Is pointed OF hat the
A. NJ. BYers Company, operating the
afgest pudding furnace plans IN the
COUNT, IS not represented. Il is al
nounced that the company viii await
Gevel o2ments of the conference ana
decide what position it Will take after
the new scale is signed In years past
tee byers Company refused to siga
the Amalgamated Association scale
ana accepted the scale OF tae Sons Of
y uican, CON posed Of members OF The
anal gamated who broke away from
the latter organization Later there
was fight against the Sons OF Vulcan
scale and the company returned to tho
Amaigamated agreement, causing the
Virtual dlsintegration Of the Sons Of.
Nalcan.
Commenting on reports Of inpend-
iLg steel price cuts. Youngstown
independent executive saws that no
further reductions are being planned
at inns time. Prices are now 50 low,
ne says, tha5 steel is being produced
at loss. To get lower prices it will
be necessary for railroad freight
rates to come down, he Ielieves.
Corr pairing prices and costs, an IN
dependent maker whose Blast fIrnaees
are regarded IS among the most eco
nomical in the country says it has rs
yet been impossible Tor his concern
-o produce pic iron as cheaply as SO
2 ton