New-York tribune., 1922-09-24
Steel Output
Gains Despite
Trade Caution
Producers Slowly Increasing
Operations as Orders
Grew, but Are Showing
Extreme Care i'm Plans
spceiai Dispateh TO Tho 7yitans


PITTSBURGH. Sept. 23.-~Caution
continue TO feature the progress of
the steel industry in the Pittsburgh.
Wheeling and Youngstown districts.
Prices are not vaulting skyward, as
many thought would be the case fol-
lowing the ending Of the strikes and
the wage advance by the steel corpora
tior. with grain prices declining,
wages advancing and the ncw tariff
acting as q blockade for tho movement
at least 10 foreign commerce, steel
lenders continue TO move with extreme
care, as the Appearances are that thc
price situation throughout tho coun-
try is somewhat out OF joint
t. Mill operations. however, continue 10
increase, due TO the coming in Of ord
ers held up by the strikes, and capacity
has increased during the past week
by few points.
Shortage Of cars for shipment Of
manufactured products continue to be
a source of worry In the Pittsburgh
and Wheeling districts the rivers are
Increasing in importance as freight
highways for receipt Of coal, inter
change of materials between works and
delivery Of manufactured products TO
costumers in the South, Southwest and
West.
New Steel Barges
The American Steel e. Wire Com
pany has ordered twenty new steel
barges from the American Bridge Com
pany at cost Of $340, 900. They arc
to be ITS feet long, twcnty-sx feet
wide and eleven feet deep. and will be
used for transport of coal and biIlets
in the Monongahela and Allegheny
Euf nf a 4
for completion of dams and locks in
the lower Ohio has interrupted all
through service of this character for
several months and indications arc
that low water will continue for an
other thirty days at least
United States engineers arc reported
ready to go ahead with these improve
ments as soon as Congress provides
the funds, and the next regular ses-
sion, in December, is certain to he MS
sailed from every city in the great
Mississippi and Ohio valleys with force
tul pleas to provide the funds for this
work, as we'll as to provide for con
netcions between the rivers and the
1reat~sL Lakes by canal, which would
permit OF huge traffic stream flowing
oy water from New York Harbor
through to New Orleans. from pitts.
burgh to the Gulf and from the Gulf
TO the Northwest via Mnneapolis and
st. Paul
Returning TO Normal
Conditions in the steel jndustrv in
the Mahoning and Shenango valleys
are drifting toward normal in n mod
crate way. Car shortage and the in
adequacy of motive power eauipmont
on the railroads are hampering the
restoration toward normal. Sheet roll
ers, unwilling to accumulate any large
sized stocks of finished materials at
current costs, may retard production
rather than pile sheets because of in
ability to ship them. One interest AT
Niles, Ohio, has approximately 5000
tons of sheets of all grades held up in
warehouses and on shipping platforms
for this reason. Against ali of this
tonnage firm releases have been issued
by consumers.
Decision of the Brier Hill Steel
Company to spend SI.0oo.o0o to re.
habilitate and modernize its Thomas
works at Niles will eliminate this plant
from production for at least six
months. 1t is to be virtually rebuilt.
All of the engineering details have
been worked out and contracts for
equipment and other work in connec-
tion with the development will be
awarded within short time.
With exception of extra full finished
sheet capacity, the additions contem-
plated by Brier Hill will duplicate
finished capacity of Tmmbull. This
Will mean close competition between
two district steel makers for much the
same business. and likewise the CON
struction of mills for which. from the
viewpoint OF capacity and demand.
there is said to be little need M this
lime. In view of these considerations.
important interests in Brier Hill are
considerably averse to spending be-
tween S7,000,000 and $4,000 900 on an
expansion program.
TrumbuIl Merger Opposed
AS an alternative, merger with
lfumoul' is considered much more de-
sirable, but as yet President jonathan
" arner the leading spirit in the
irumbull organization. has refused 20
change his original policy OF operating
independently.
Ihe Pennsylvania Tank Car Com
pany has orders for tank cars amount
ing to approximately 81 500 900. In
addition many orders are booked for
repairs on railroad cars. The National
Malleable Castings Company RECENTLY
received an order for $4,000 car coup-
iers from Japan. The plant is operat
ing at normal. The sheet and tin mills
of the American Sheet e. Tinnlate
Company at Farrell are running Mt
normal capacity. The Sharon Steel
Hoop Company is operating its Sharon
ana Youngstown plants at nearly full
cauacity
From present indications it appears
shat $40 will be the ruling price on
fourth quarter sheet bar business. One
Youngstown interest has sold upwards
10 lo'ooo tons at this figure for deliv-
cry up to the middle of November. An
volving deliveries over the ouorter 81
TINS price, which therefore seems fairly
definitely established. Rollers com.