New-York tribune., 1922-09-14
Steel Corporation
Increases rsices
OF Rails S3 q Ton
New Quotations of $43 Will
Take Effect Oct. Il; First
Change Since Oct. 1921:
Follows Wage Advance

The United States Steel Corporation
has recommended to it's subsidiary
companies that on October the price
of standard steel rails be increased
from $40 to SAB q ton, according to an
announcement late yesterday by Ebert
II. Gary, chairman of the finance COM
mittee. Judge Gary's announcement
| said.
Until September 90, 1922. the price
Of standard rails will continue to be
$40 gross ton base, +. o, b, mills, for
deliveries TO be made in about equal
monthly installments prior to June 30,
1923. Commencing October / 1922, the
price will he increased to $43 gross
ton base, f. o. b. mills, for same de-
liveries'
The new price for steel rails fixed
by the Steel Corporation is the first
change since October, 1921, when the
quotation was cut to $40 a ton from
SAT, the price recommended by the In
dustrial Board at Washington shortly
after the armistice. 1t follows price
advances in other lines of finished
steel and is understood to have been
due TO the wage increase of 20 per
| cent that became effective on Septem-
Der l. and the coal and railroad strikes
all Of which contributed toward higher
costs of production.
Independents steel companies have
been quoting steel rails from 50 to SO
ton higher than the Steel Corpora
ton, and it is understood that the in
crease announced by the leading in
terest will be followed by further adj
vances by such companies as Bethle-
hem Steel, Lackawanna, Midvale and
other companies making steel rails.
The increase, according to trade au-
thorities, comes on the eve of renewed
railroad buying. Further inquiries for
rails for 1923 delivery have been com
ing from the Western roads, and with
the settlement of the shopmen's strike
additional orders are expected to be
placed. Concerning the situation gem
orally in the iron and steel industry
The Iron Age" will say to-day:
BLAST furnace assumptions by steel
companies ere coming more rapidly
than in the first week of September
Pittsburgh, Youngstown, Cleveland,
Chicago and eastern Pennsylvania re-
port fifteen furnaces started in the last
week, and indications are that all the
will be made up in another week or ten
days.
"Such an increase in pig iron pro-
duction points to a correspondingly
easier situation in the near future in
respect to steel deliveries, subject to
the handicap of in sufficient car supply
for the moving of certain rolling mill
products.
"One factor of uncertainty grows out
of Washington proposals for coop
Grafton by coal producers in furnish
ing tonnages for use as required to
keep prices in check.
'The Steel Corporation ingot produc-
tion this week is at more than so per
cent of capacity and several independ-
ent companies are again close to SO per
cent, with prospects of some further
Increase
August steel ingot output as ex-
pected, fell off much less from the
July rate than did pig iron--about 25
per cent for pig iron and only II sper
cent for steel. AS against 35,0O0,0O0
ton yearly rate in July, the August rate
was nearly $1,000, 900 tons, and to-day
it is nearer 32,000,000 tons.