The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-10-06
IRON REVIEW

New York ~ Y. Oct Gar short
ages and the piling of finished steel at
Il number Of the rolling mills are feat
ured in market reports from the Pitts
burgh and Youngstown districts this
week. \ few shutdowns have resulted
and the possibility of others Is men
toned. Specific cases are the piling OF
100000 tons OF finished steel by the
Carnegie steel Co, 10 per cent reduc-
ton In operations of the American Sheet
& Tin Plate Co. considerable aCcumula-
tons of stock at tube mills and 30
per cent shut down at sheet mill IN
the Youngstown district.
Coal supplies have ceased to be lin
it!ug factor in steel production. as moot
of the steel companies are equipped
with by-prOduct plants they arc amply
supplied with coke.
The production side OF the industry
SO far as pig iron and steel ingots are
concerned has shown further improve
mcnt. in spite of the shortage Of cars
at rolling mills. and blast furnaces and
steel works managers are evidently
counting on being able to keep up the
present rate OF operations. In fact there
are plans for the early starting Of sew
eraI blast furnaces. Recent indications
that September blast furnace resump-
tons after the coal strike would nearly
equal the suspensions Of July and Aug
ust have been horn out. On Oct. furn-
aces in blast numbered 100 as aga!nS:
IA on Sept. /; l72 on Aug. ! and 1872
on July /.
Pig iron output in the 30 days OK
September was @,OS3,72O tons or 67,7?l
tons n day. a sharp advance over the
l.Sl6.l10 tons in August which was an
average Of 5S.556 tons day. The steel
works furnaces made most OF the gain,
or $500 tons a day. against 1000 tons a
day gain for merchant furnaces. which
brought them back practically to tho
rate OF May. The estimated capacity OF
the 100 furnaces active on Oct. l. WAS
77.50o tons day against o4,645 tons q
day for l4+ furnaces on Sept 1.
Railroads have furnished so much OF
the new business Of the past fortnight
that other buying IL without signin-
canoe. Every important ling In tho
country and many smaller ones took on
rails for 1928 before the 81 advance to
s43 on Oct !. and the total OF rail and
rail and track supply contracts is put
at 100000 tons. Purchases OF $500
cars by fire railroads have been uncov-
cred in the week. Orders have been
given for repairs to 230o and fresh In
quricS represent 1850 cars. Thu
Snatafe has bought 50 locomotives.
Apart from the cutting off OF a few
peaks. prices Of finished steel are quita
we'll maintained. Sales above 2.25c for
plates are fewer and involve smaller
lots than In early September. A few
makers Of lap welded tubes have made
81 advance and charcoal iron boiler
tubes are up 10 SO per ton. Tie plates
arc higher at 2.35c, Pittsburgh. aud
angle bars have been sold as high as
2.75. An advance of SO per ton on paint
ed barbed wire has been generally
adopted. The sheet market has worked
into easier prices in the Central Weg..
The blowing In OF number OF mcr-
chant blast furnaces. the distribution Of
a round tonnage Of pig iron made at
Duluth 70 points in New England and
New York. and somewhat easier con-
d!tions In the coke market have contrt-
buted to the sagglng tendency Of plg
iron prices. A steel company in West
rrn Pennsylvania has been an active
factor In selling at concessions. The
largest transaction was the purchase
Of 5000 tons Of basic by an Eastern
steel company. The recent buying OF
Alabama iron by soil pipe manufac.-
urcrs amounted TO $1,000 tons.