New-York tribune., 1922-12-17
Steel Trades
Interest Now
On lst Quarter
Slight Decrease In Opera
iiOns Due TO Seasonal De-
cline and End of the
Year Inventory Period
srsriaI D,spafch 70 Ths Triburs

steel making and IN finishing mill
sehedules. Independent open hearth
capacity II not being operated In tS-
cess Of 75 per cent Of cnpacity. while
sheet mill production IL tending down
ward This decline Ia attributable 70
seasonal conditions and 20 snd-of-ths-
year inventory.
President James A. Campbell Of ths
youngstown sheet and Tube Company,
voices the opinion that prices vii
stabilize around current levels. he
declares demand for wire products snd
standard merchant pipe u well sus.
tanned. Mr.. Campbell believes bust
ness will come 70 the mills through
the winter In suhicient volume 10 main.
tain an operating rate around 50 per
cent.
Independents are all quoting $3.50
for sheet bars for next quarter de-.
livery, which compares With price ~
$40 that prevailed during the early
part Of the fourth quarter of this year.
AZ yet little forward business 10 on
makers books, but non-intsgrated rol-
lsgs are preparing 70 readjust their
contracts with the mills on the sbovs
basis.
Sheet and tinplate makers buyiag
their own semi.hnished requirements
had hoped for a S35 price on sheet
bars, but establishment Of the 1880
figure appears 70 be general through-
out the trade. This price will deter
certain sheet makers from cutting be-
low current levels On blue annealed,
black ard galvanized grades.
Price Acts a. Deterrent
Prevailing prices OF 2.b0 cents for
blue anneaisd, 3.35 cents for black and
4.35 cents for galvanized are expected
% continue through the qua rter. Prior
10 announcement OF the new sheet bar
price, some cutting in prices on COM
mon sheets developed, due 10 tho keen
competition for business In this grade.
A price higher thar was expected on
the semi-hnishsd product Is acting as
deterrent however, sgaind further
price reccssions az this time on hn-
ished product
New black sheet business Is very
irregular and mills are cutting down
their rolling schedules. Just how much
business will develop next quarter Is
matter of much speculation. Makers
believe that after the inventory period
new tonnaRcs will be placed With con-
siderable more freedom b. buying In
terests.
Shipments are now being made By
steel properties more eapsditiously
than at sny time IN several months,
due 90 improved car supply affecting
both box cars and mill-type gondolas.
Though fhe peak Of The Fall freight
movement was passed about four
months ago. shipments from Indus
trial plants continue heavy this month.
Both the United states Steel Cor
portation and the Independents are
prttinc forth strenuous efforts 10 80
tablish some coal reserves before mid.
winter. Due 10 the diversion ~ coal
10 tho lakes for shipment Northwest.
steel plants were unable this year %
establish their usual reserves. How.
ever, they are commencing 20 build M
stocks. AZ many steel plants through.
out the district large tonn0ges Of cos
and cobe have been accumulated.
Ore shipments have fallen on, though
tonnages are still moving from lake
docks 10 inland furnaces. Lake ship.
ments of ore have already ceased ard
the ore boats have been put up for tho
winter.
All mills at Homestead. Braddock.
Duouesns and Clarion. ~ the Car
negie Steel COMPANY. are in operation
for this week. which IL 4 splendid rec
ord for this period Of the year. The
cooperation plants through ths pitis-
burgh district are operating between
30 and IS per cent - capacity.
Thirty-one Of the forty.feysn blast
furnaces In the Shefon-Youngstown
district are active This Is one les.
than q week ago. The las, furnace 70
blow oct was the No. I Of the She
mango Furnace Company AZ Sharpsyllle.
The demand for pie iron IL heavy and
supplies Of stocked pig are running
low - IL probable that two or mors
independent hYms will blow In soon
after the first Of the year
On 100 Per Cent Basis
Operation o. the mills o. the Steel
Corporation in the Farrell district con-
tinue on 100 per cent basis, with the
exception Of the steel and wire mills,
which sre running about rs per cent
Of capacity.
The Sharon Pressed Steel Company
has booked suahcient orders within ths
last Few days 10 assure operation OF
the Whea'isni nlant az fuli capacity
for the n"vt aiN months. The orders
were obsk ned from automobile con
cerns More men are being employed
than ~ any time In the last two years.
Stockholders NJ the Sharon Pressed
Steel Corporation met during the
week md Iogrood % the merqer entered
into between ~ board % directors %
the Sharon Pressed Steel Company
and the Sharon Pressed Steel corpo-
ration. II w>s merged into one cor
poretlon. % be known as the Sharon
Pressed Steel Company
Amone 10 Mfhonioe Valley Inde.
pendents which will report 4 satlsfae-
tory ,Nelye-month o~f'5f IN 1927 are
the Youngstovn she-f md Tube Com
rany and the Trurhpn stoel Company.
-srausc Of iis hsavy p'pe capacity the
eheet ard Tabo romnAny has been
able 70 maintain oneratlonf AZ = very
satlsff ctory rnte. The Trpmhull COM
many hrs been successful IN marketing
its 'nplate and strip steel. The auto.
mobile industry Is sbsorh'ng lerge
tonna~.s Of strips eaeh year and max
srs wh9 entered ~ branch OF the
industry et pfonitio"s time have
fc~-d I. ve-y advantageous.
Valley steel nla-fs h"~e beer cau-
Nor. lo'~iy IN ulscin1 scrap business
ewing 20 some Dr'cc -nseftlemo-i.
Uee~v nnelf'n,. T. r~ofarle from so
n col ~ ~. Aist-lei hut ls seversl
hcr--. less in large scrap producing
centers.
Jw9or.ant t'rn'sie consumers have
nego.is'eA contr-c c's covering their re-
oulrewents for the next tx rerfhs n
Servo -es 81 iha current level yf
s4.7s. There has ieen s1me discussion
IN indenend+nt cl-cies relative 70 u'erk-
ing Nm this er.ds n i4.ss per bsse box
bpt The ovevfow from 'he LEADING ~
ser.st h-s been insufficient 10 Justify
such action ~ yet
fowsr cosl ard coke prices. bringing
Aown the eost % MI i-0n. have Ike
t -..4 -. t,Nuortfai kesrln9 en-