New-York tribune., 1922-02-19

Rail and Mine
Uncertainty q
Steel actor
Producers Are Encourayea
by Large oyer'angino
Demand, Which Must III
tima'ely Assert J,self
Sheet Price Rise Is Seen
Statement by loung.,ox,
Head Indicates H..
Liquidation IIa, Ad,ancad

us}fP0
apoeso' Disrofei. ,, ~, r-.,,,..
PITTSBURGH. Feb. * prs,.;..,
all IRON and stetl Interests in ~.
trict declare taa. cont.nses a.l.-
the expected roadiostmerts Of t5er.r
road and coal mining problsms ~. =.
principal factors At present vo.,.
against more RAPID recovery n -.
industry. BIT for ting condition, 80
duciog interests believe. tonnage r.-', p,D
now be coming .n mscn bresd4- -,
umc. They arr encouraged. aor,.~..
~ thc fact that tfere a,,. 49,
hanging demand which s Certain
assert itsclf sooner or 4ter
Price On mos. aaste5 lines p.a
the exception Of =6ee- are ssyi.s -.
aculty in maiata. ay tnem,si'.,
Prospective cD toners. sovever s,os'
emily are holding back for st.n ,,-.
Tricoe Make rrolr declare ~.
any reduction wrfcs ,oe~ co-,s -, ..s'
dlction cost ttrrars over fr.t-.
charge must be 'arge.y sp0r9rria...
by them elves, - tae5 cam "a ns ,.s
marketing steel prod JETS a. CT b.l,,
the cost - mansfac+are
Indicating tGo rxten- % rva;cr l,,r
datioR NJ progre-sel in .he ,,5ns.,
IS the statement of jams 4. CsEanae;.
president of the Toargs-7wq s-seI -.
lube Company. 'aat pc have rs3u,.
our overhead expenses Ggri7y the v..-
70 The very minimum oy el.mins.i,,
employees II every departrnen. wss.s
It was possible - 10 50. srd slso ~
reducing me salaries Of oTic.af:. :,
perlntendents and mer holding o.as.
important posit.ors
Predict Sheet Prize Rise
Some Or .he important shse. may.
ests predict a. advance IN prices Az
second quarter tonnage. Thus a.
comparatively li--.e business in SHEETS
for second quarter de irery has pear
booked, aside from automobile s.ocs
Sheet prices are among the armes. @.
any finished lines ard for sixty ds-.
have res.sted attempts n hrea. 10
market. Any deviat.ons rom es.ab.
lished quotations ~ 2.5c tor No. IL
*. ~ D..
and No. p gaivan .zed hsve been IN
consequential. declare producers.
Mills have been .oash TO open their
books for tonnage. involving delive-r
over any extended period New shee-
business is coming rom other source,
besides the auto ira str. variety o.
BUYERS entering TIM market, thous
still in moRrace "a
Operation throughout rae dist-ic.
gradually increasing. ts- ao. : rapid
: predicted oy some ste- men q. Il.
first Of the year. The = nlan. Q: Il.
Steel Corporation a Homestead la;
been showing an Increase Fra TONNAGE
the past two weeks. wtile ia the Dr.
quesne works production is la ggng; il
TACT. production this week : sycep
tlonally small.
Inc Independent. steel mills are Of
Grating between 50 and So ger cen.
with possibly one or Two exceptions
One Of the big drawbacks 70 the SEE
situation agecting several ~ -ne larrs.
Independent plants Is the fact rnat .se
railroads are not ou,iar AID there las
also been noticeable ss.i.ng og inc.
ders for repairing cars.
Considerable significance IS attach.
TO the remarks Of president Jgmesl
Campbell OF the Youngstown, s. eet a.,
tube Company this weak OF wage ro-
dltlons and prospects Ter business. d.
cussing thc situa-l-- ~t-h r.. cv-
company Mr.. Campbell states that 'm
February Is, 1921. Ne rsnGcea II
wages ot all employees a6o-.. 20 ps.
cent. On July I We abandoned b.
basic eight-hour day which dscon.ir
ued paying time and aaf :or 81
time over eiTh- 5o1rs i~'rsf $
We made q further .eduction Of abou'
20 per cent ia wages of a.. -ho-. ass
reductions comoired reduced common
labor from - GEMS 10 30 cents Pc
hour. the preser, rate paid in the Ma
honing Valley
Wage Cut Possible
Mr. Campbell points cut that pisn.'
in the East are paying from 20 20 %
cents for common labor and Indicates
the possibility ot another wage re
duction in th.s district. though ne says
that 'en1plovees = the steel INDUSTRY
have already sugrrsd greater reduction
Of wages than employers II u,oss otns.
lines, and We c. no. believe the COS!
justify any additional cuts
Conditions ard events which augu'
for sustained betterment in business
Mr.. Campbell Outlines. are the "sue'
cess Of the arrn- limitation conferences
recently held IN Washington: the 81,
rangenert between Great Rrltsln anu
France. By which Great Rrtain agfees
70 assist France in case o. invss,ol
b. any other powsr. which nsIss'
in my opinion. lie end o. deferi0's'
.ion and the beginning Or reconsl'u.;
ton III FnroDe.. a.d the ptopv:.. ps:..
financial Conference - Genoa VIM.
gives hope .or the solution Of son.:
of the serious financial 9rooieis ~
Europe and the stao'hzaAOn o.
change" ".
IN our country" continues ~ X,
Campbell. the President IS tnoreusa;s
impressed with the important. a.
liquidation in labor aAd n'S's xiv
values where this has been nor ia. III.
taken place. realizing that sucn Hq'., AZ,
tion IS necessary 10 reduce 'ns ..sns
OF living He has already taken ~! h
that have lowered freight ra'eI s,at
, some instances. ard VIII orihg .',n-s.
further reductions IN the near lu.st ut
He has also eaSen steps 10 p'sr sor
protiteering and assure 20 me ...n, M
sumer the benefit tha, should nh;,a ,s
from lower production costs .~rbss rs
are in many instances now avs s sc:
bv middlen,c.. and are. thereioie'
reflected in retal, prices
Transue < Williams Ne'
p~aes Ea,,al 43c Share