The Washington herald., 1922-09-18
CARS REQUIRED
Steel Industry Hit By
Shortage of Freight
Containers.

PITTSBURGH. Sept. 17.-Condl-
tions as to steel movement have been
shifting rapidly this week. Limitation
of production tending to yield to limi-
tation in shipment During the five
months April to August the limitation
in steel was as to production. coal sup
plies being below requirements. In
the past few days car supplies at
mills have been rapidly decreasing,
while numerous embargoes have been
placed. AS matters have been trend
ing 1t will be but a short time until
steel mills will have to pile large
quantities OF steel. awaiting opportu-
nifty to ship. or decrease their produc-
ton.
The Big Four furnishes the most
impressive illustration, as II has
placed an embargo or all freight from
connecting roads except such as car
ries prority. Various other roads
have placed embargoes against ship
ments to certain points. Predictions
are made q at within ten days the
majority OF steel consumers will be
disconnected from their usual sources
of supply.
Car supplies the Big Factor.
AS the operation of steel mills has
increased nearly If not quite 20 per
cent in trifle over fortnight. from
approximately so per cent to a 80
per cent operating rate. the movement
OF coal seems to have been increasing
at satisfactory rate. though no mills
h. 81
creases in coal supplies. The common
view now. however, is that ability to
ship rather than ability to produce
steel will b. the dominant item in the
trade.
AS in past periods OF railroad con-
Gestion. the different consumers of
steel are likely to be variOusly
anectcd. for when mills are prevented
from shipping to some points they
may be able to make better shipments
10 other points. Car supplies, how
ever. may be the limiting factor
rather than embargoes.
Prices Tend to Go Higher.
The steel market of the mast fort
night has been marked b. The cu-
riOus condition of all the annear-
| ances being that prices are strong.
V.
but OF there being actual advances
and none of distinct Importance
Various references have been made
to advanced prices having been oh
tanned. but when investigated the
cases turn out to involve small tom
nages for early delivery. there be,
ing nothing that could properly he
called an advance. as simply a de-
nFery premium is involved. In
sheets, for instance. there are re-
ports of mills obtaining" 3.75 cent,
whereas sellers at $50 cents have
not found 1t entirely COSY to dispos.
OF their tonnage, and II is only the
Few sellers at 3.25 cents, the Steel
Corporation price, that can pick
ther customers and allocate ton
mage.
Market Is Light.
While the undcrtone of the mar
ket has appeafcd very strong in.
actual turnover in the market has
been far from heavy. ON the wno,,
the steel market has been relatively
inactive in the past fortnight. In
some quarters the condition is at-
trlbutcd to reluctance on the part
OF mills to sell. but the argument
Is not very cOgent. since it is vel,
understood that the present policy
Of the steel mills is to obtain a,
nigh prices as possible. and II a
mill Is unwilling to sell at present
prices the way is open for it to
mark up its prices to a satisfac-
tory level and then sell. If pos
sible.
Merchant steel bars are auotabIe
at three different prices. at least.
There is the 1.9O cents price com
monty attributed to the Carnegie
steel Company. for delivery at mill
convenience, and there is a ol5
cents price made by some indepen-
dent mills to regular customers.
while certain mills are at a mini
mum OF 2.25 cents and apparently
able to make very early shipment at
thls hgure- In structural shanes
the range is from 200 cents to . 25
cents. Plates are at approximately
the same level. little being now
heard of the $50 cents prompt price
that was being obtained three
weeks ago.