Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-31

April |. the date Of the great coal
strike. the rate was about $4,000. 00O
tons. No one could avoid the con-
clusion. considering the circum-
stances in detail. that the great rise
in demand was due in part to buyers
anticipating Influences from the coal
strike. not that tho steel mills would
stop operating April !, but that even
tually they would be crippled IT, as
was commonly expected. the strike
should last several months
strikes in til. Connclisvillc region.
nonunion for "a generation. proved
much more serious than had been
expected. bu, by ruyinG Yves, vir-
GINA apd Kentucky cola. supple
mcntjnS its large stocks. the steel
industry managed even To increase
its production a tribe. In August
and september there was dip. maxi
ing the average rate OF production
April 10 October l about - - mil
lion tons OF ingots a year. From
October To the end of the year pro-
duction held quite steady at a rate
OF about i0,0O0.O00 tons.
Ucbound In Prices.
AS to the influence Of coal upon
steel prices. this was compliCa;e tea
with the upward reaction that was
naturally due on account Of steel
prices reaching par,icularly low
level ky March bars. shapes. ana
flajcS had reached an open market
quotation OF l.3J cents which was
below the ten year prc-war average
and below the average Of 1913. while
it was only about 80 per cent above
the level in December. 1871. the low
"St point in steel since 1898. Natural
~ rebound was due. hut the adj
vance was stimulated by the obvious
q thculty the steel mills had in Opcr-
at!nE.
Men have talked aud acted as IL
tho settlement OF tn. coal strike in
August by the Cleveland agreement
gave the United Mine Workers an
advance. OF course il did not II
save them a continuance OF a very
high wage scale. which the great
majority Of observers had expected
would b. reduced The market price
OF union mined coal. however. was
very high after the resumption Of
mining. Furthermore. there was a
wage advance in the conncllsvillc
region late in August OF between 40
and % per cent, by restoration of
t,-c seal. Of September |. 1920. from
which there had been Liquidation III
1921.
High Fuel Costs.
Thus the steel industry was left
with very high fuel costs. and steel
prices advanced fCrther on ms ac-
count. The development was very
unpleasant t. steel producers aud
stec! consumers alike. Throughout
lal2 III. cry had been for liquidation
Of costs. and great deal wag ac
Comp!iSh"d. La Dor in the steel in
dustry became efficient again. and a
bright prospect WAS created that steel
could be made pro:itahly at modcrat"
prices. such as would stimulat. de-"
mand. This condition was greatly
altered. Their. was the higher cost
OF purchased union mined coal. tho
much higher wages in the Connclls-
VILE region, together with continued
strike expense, for tho United Mine
Workers have cndcavorcd to this date
to keep the Conncllsvillc strike alive.
and there was the general wage adj
vance at furnaces and mills OF Sep
tcmbcr |. Influenced in part by the
new labor conditions.
How disturbing the conditions were
may he shown by a citation of the
United States Steel Corporations
earnings IN September. Production
was still restricted as fuel supplies
were not fully restored Wages had
Just been advanced. steel prices in