New-York tribune., 1922-02-12
Better Tone i'm
Steel on Gain
Jl1 Operations
Manufacturers Arc Looking
Forward TO the Prospects
Of the Next Few Months
With More Confidence
Sheet Prices Hold Fn.na
Evidence Of Purchasing ea
the Possibility Of Rail-
road Strike Is Noted
sseeia1 D,sDasca :, The yrtny..

road Strike Is Noted
STsciul D'sDotch 70 The Trftusss
PITTSBURGH, Feb. i1.-Develop-
rnents during the last few days indi-
cate a better tone in the iron and steel
industry. lnceeused operations through
out tils district arc reported in botn
independent and corporation mills.
Manufacturers ere row looking for-
ward with more confidence to the nest
sew months. Briehy, the most nots-
worthy Indications are:
Starting Of six mills Of tac Wheeling
Steel Corporation at Yorkville, Ohio:
the resumption Of the Allegheny and
" est Penn Steel plants at Braexen~
ridge at full capacity. Improvement in
the tonnage at the corporation's 3 Dig
plants in Homestead. Braddock and
DuGuesne; announcement that t,e NC
keesport IinDlats Company win go OF
full capacity Sunday night. and the ini-
proved conditions in the secondary
metal intei ests throughout the Ma
honing VALLEY.
There is some e. lidenc Of steel buy
ing. ind d-ced By The threatened coa'
II. iners' Ike on April / ana i.s con
seaucnt disorgaRizstion Of industry.
Railroads in this territory report some
stocking Of coal b. industr; al plants.
Pre- sidcnt jonathan v arner Of the
irumbull Steel looks for gradual bet
terment In the primary steel industry
ourin. the balance of the year. Trupl-
bull is the second Of the large inde-
pendents in the Mahonins Valley to re-
port It's statement for 1921 and while
ls shows deficit FOR the year, it IS
generally regarded as favorable. can
sidering the stagnation IN the industry
,ast wear. Gross sales S12e51 900 were
however but slightly in excess of one
third Of the gross vslume of busine ss
done b. the company in 1890. and it's
surplus account suffered snrinkaxe
It's 1921 pay roll was less than half
that OF the preceding year. due to de-
cilnes II wages and TO slack employ
nent.
Merger Hangs Fire
Principal interest in this district
centers about the annual statement Of
the Youngstown Sheet aud Tube Com
rsni', which VIII be available February
IA, at the yearly meeting. Because OF
the activities OF the Sheet and Tube
Company IN steel merger negotiations.
Us report will be OF widespread inter
est. The latest information relative
to the three-cornered combination, in
VolVinG Inland Steel and the Steel and
Tube Company of America. in addition
to the Sheet and Tube. IS that it has
struck a snag which may prove insur-
N ountable. In Youngstown industrial
circles there IS considerably less op
tmism Of the merger succeeding than
at any time since negotiations were
started.
This is attributed to the faci that
Inland Steel has failed to ade lately
mark down its property valuation and
Furthermore demands a substantial
bonus for its position in the Chi
cago district. In event the merger
fails it is currently reported that
Sheet and Tube Will install q pipe mill
plant in the Chicago territory. in order
to gaia the advantage Of freight
charges il shipments to the West and
Southwest. to which most Of the Oil
country goods is sent. Stockholders
of the company anticipate some def
mite statement on the merger regotia
tions at the annual meeting.
Though new sheet business IS mod
crate in volume prices are firm, which
is an encouraging factor from the
standpoint Of producers. One buyer
who endeavored to place an order FOR
delivery during the second quarter was
turned down by three Mahoping Valley
makers. who said. however they would
accept tho business for shipment over
the first quarter.
Orders Completed
Curtailr3ent of production Of I'm
plate at the Farrcl work has / cn re
cessitated by the completion OF oiist7
for export customers. The SHEET l.. llF
are running ct full capacity ag IL arc
prospects are good for full ole rssic5
FOR some time. officials state
Interest in the operation Of sce'-
ing district IRON and steel mi Is 'h's
week was conferred in the effort e
operate thc Yerkville plant q f1@
Wheeling Steel and Iron Comeary.
subsidiary Of the Wheeling Stee' fo-
poration. The plant IS Foeafe'
miles ncrth OF Wheeling OH t
side Of the river and has n
operated since July, 1921. beca
strike of tae workers. Notice
on last week that tNa clant y
put in operation on Tuesday
week.
On Tuesday six OF the mills Y v44e pas
in operation Wednesday morning one
striker was killed and another we.s
wounded when men near the ptant
were fred on by guards located within
the mill property. Officials state shey
will continue TO operate the part on
the open shop basis
While steel buying generally sasks
sustaining power, shipments OF the
lighter products show an impE ve'hens
in the Youngstown district. or M
stance. w. A. Baldwin, manage IT the
Ohio region Of the Erie Rail, re-
ports ar average movement f.sbS
loaded cars in the region dug The
first six days in February. as coi pared
with daily average of 3,S43 cafs u
January and 1911 in February. 1871
The Franklin division Of the Nc~ o.
Central is handling 200 more loscet
ears a day than year ago, sh pm enos
embracing pipe, sheets. tinplte. ane
coke oven by-preduets. The baitnpore
4 Ohio Railroad reports substantial
increase in movement Of coal
The local pig iron market - very
quiet and the expected buying move
nent has not started