The Washington herald., 1922-03-18
PREDICTS FURTHER
ADVANCE In PRICES
ON STEEL MARKET
Sheets Expected to Move
Up by Producers in
Youngstown Section.
~ "a
TIN PLATE is FIRM
Lower Prices on Rolled Strip
See Makers Take Big
Tonnages.

YOUNGSTOWN. Ohio. March H.
Predictions OF further advances in
steel prices are being made by pre-
ducers in this district. A moving
up Of sheet prices generally. espc-
cially full finished, of strip steel
products, but particularly cold
rolled material and OF semi finished
steel but centering on sheet bars
I'D billets is forecast.
Owing to the relatively lower
price on cold rolled strip than full
finished sheets. makers of the for
mer product have been taking con-
siderable tonnage ordinarily going
to the full finished sheet makers,
such as auto fender stock. The re-
nult has been a filling OF cold rolled
Strip is nominally at 3.50c. base,
but some concessions have been
made. whether the fopecast ad-
vance will take the form of a mere
filming to nominal levels or be 4
movement into actually higher
ground Is yet to be seen. Full fin-
ished sheets are firm at 4.35e for
22-gauge' material and in good de-
mand from metal furniture. makers,
the auto body industry, etc.
Sheet bars are s2s to $50. TIE
higher price is commanded for
quick deliveries and lighter prod
uct. Makers forecast an advance to
s3l to s32 or at least $50 mini
mum.
Steel plate Is firm at 1.50c base.
There seems to be general observa-
tion of the price since the ]. & L.
advance to that level. However,
merchant firms are not so rigid
o. at the higher level. and Il is
believed that 1.5oc base is being
shaded
Tin plate specifications continue
very strong. The leading independ-
ent maker is working to capacity,
but prices are not so firm. The s4.75
price is not generally adhered to.
On domestic business $3.50 to $3.50
10 more nearly the range.
Wire products are in strong de-
mand, and the stabilized prices are
being maintained in the district
with production 20 per cent. Re
ported guaranteeing of wire prices
is confined to fence quotations un-
der lead of the leading market and
this practice is being discontinued
Basic iron is Arm at SIS valley
furnace. OlQ U1dltTldAs
ing is ranging from SIS to $3.50,
accounting for some OF the firmness
OF basic.
The Youngstown Sheet and Tube
company is lighting a third blast
furnace. The Struthers Furnace
Company will light its merchant
stack as soon as .the coal miners
dispute is adjusted.
The i. NJ Byers Company will
suspend its Girard stack in three
weeks. The company has an ample
stock of iron for puddle furnace
operations.
Local Mention.
At a regular meeting of the board
Of directors of the Security Savings
and Commercial Bank held recently
the directors declared the usual
quarterly dividend Of per cent and
also an extra dividend of 1 per cent.
payable March 81. to stockholders
Of record March %.
This is the third consecutive divi-
dend quarter at which a 1 per cent
extra dividend has been declared. in
addition to the regular ) per cent
dividend.
At a regular meeting of the board
of directors of the Farmers and Me-
chanics' National Bank held recent
ly. an extra dividend of 4 per cent
was declared payable April I. 1922.
to stockholders OF record at the
close of business March %. 1922.