New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-08-13
Steel Makers
See a Lasting
Rise i'm Prices
Believe Higher Quotations
Will Continue Long At
ter the Present Fuel
E m ency Is Over
spsosar Dispatch to ras Trsbuns


Ing, are turning their attention to the
question Of prices. While their fur
naces are being banked for want Of
fuel and their rolling schedules cur
tailed in consequence, and while the
buyers stand frantically at the doors
and knock to have them opened, or run
from mill to mill In hope that some
crumbs will fall beneath the table, the
sales managers cit and study the eco
nomio situation foreseeing increases
which will come and which are sx-
pected to stay. The signs Of them arc
already here In new price levels some-
what higher than last week.
That these prices are brought about
by the operating situation there is no
doubt but the sales departments argue
that after the fuel emergency 10 ovar
these prices will not drop, but will re-
main steadfast for long time to come,
or possibly 80 higher.
Generally higher steel prices are
forecast BY James A: Campbell. prssi;;
Tube Company, when the industry gets
going again. Scarcity Of coal and It's
advanced cost will keep prices up for
some time, he believes.
Coal Cost Affects Prices
The higher cost Of coal, states Mr..
Campbell, is adding at least SIS ton
ished steel products. While steel
prices are tending upward, the ad-
vances have not been sufficient to cover
this dif'erential in coal costs. Mr..
Campbell points out that coal is not
now available for the steel industry
and It would be impossible for makers
to pay prevailing prices without further
marking up steel prices.
Pig iron sales in the Shenango VAL
ley are reported heavy, with prices
rising, and 1t will not be long before
stocks will be practically exhausted.
One Of the merchant furnaces last
month shipped as much pig iron as in
any month during the past five years.
running low. With the settlement of
the coal strike 1t Ia stated that imme-
date resumption Of number Of blast
furnaces that have been idle for more
than two years will follow.
Tho coal strike has already resulted
in the closing at the Farrell works Of
the Carnegie Steel Company with the
exception Of one blast furnace. The
American Steel and Wire Company at
Farrell was able to work through this
week, but next weeks schedule of
operation Is uncertain. The American
Sheet and Tinplate Company will con-
tinue operation of its sheet and tin
plate mills at Farrell at normal capa-
city,
Many Of the Independent steel plants
and foundries are running low on coal
and may be forced to curtail opera
lions at any time. 1t Is estimated that
the coal supply at the various plants
in the Shenango Velley will last from
ten days to three weeks, according to
the amount used
Announcement that Colonel II. B.
Pope, formerly with the Carnegie Steel
S2,500,000 steel plant In Greenville i'm
mediately created interest in steel cir
cles this week. The plant will include
blast furnace, several open hearth
furnaces and finishing mills.
The Youngstown Sheet and Tube
Company is operating but two Of its
six blast furnaces, one of these on
accumulated stocks of coke. When
these supplies are exhausted the stack
will be banked, as coal will be con-
served for rolling mill purposes.
There are 140 blast furnaces In west
ern Pennsylvania and eastern Ohio, Of
which ony ffty-fve are in operation.
A Little Coal Coming Through
Some little coal Is coming through
daily, but much of it is of Indifferent
quality. One larfe interest ordinarily
using 1856 cars daily reports receipts OF
thirty-fve carloads one day this week
and eleven another.
There has been as yet little inter-
ference with the outbound movement
of steel. Embargoes on Southern roads
l,o1I IL - A..
in some cases. In fact, the daily loaded
car movement In the Youngstown dis
trict shows a gain of Is per cent dur
ing the first five days of August over
the same period in July and Of 20 per
cent over the first Ave days Of
August, 1921.
Youngstown district furnaces Of the
Carnegie Steel Company have been op-
Grating at considerable advantage over
the Independents since the rail strike,
as coke Is being shipped there in large
tonnages from Lorain. In the Mahon-
ing Valley the Carnegie Company has
made little contraction In its operations
as yet, though reports are current that
a number of blast furnaces in its Ohio
works group at Youngstown will be
banked very shortly.
Non-integrated sheet rollers, depend
ing on the market for sheet bars, re-
port that they are still receiving fairly
adequate supplies, though unfinished
production has been curtailed by both
the Republic and Brier Hill companies.
One such interest reports that 1t will
be able to maintain rolling at normal
rate through September.
1t Is expected large improvements
will be made to the properties of the
Republic Iron and Steel Company upon
completion of It's merger into the North
American Steel Corporation. Plans for
undermining its Brown B onnell depart
ment have been under consideration
for several years.
Suggestions are being put forward
for merger of independents, affect
ing chiefly the Brier Hill Steel Com
pany and the Trumbull Steel Company.
Prominent stockholders in the Brier
Hill Company are reported to be
especially interested in such con-
solidation. In order to round out it's
finishing capacity, the company would
be compelled to spend large sum and
special financing would probably be
necessary. Brier Hills principal fin
ished products are sheets and plates.
while 1t sells considerable semi-in-
ished steel on the market. 1t would
bring to merger especially valuable
ore and coal resources, as we'll as lake
shipping facilities.
Big Sheet Producer
Trumbull on the other hand. pro-
drcaS chieHy SEaots