New-York tribune., 1922-03-19

'Aat the impending coal strike still
VIII he y c ear the atmosphere. Il has
rccn hanging overhead Ike q thunder
storm for nearly three years. and now
nat 1T seems certain 20 break there is
feeling shat after the u0roar dis
down there VIII be a brighter indus
iMal sun and Il more bracing air for
business.
Outlook StcediIy Improving
Robert BENTLEY, orc Of the veteran
ron and steel manufacturers of the
valley, says the outlook for the indus
Try rs steadily Improving Mr. Bentley
ls president Of the Ohio Iron and Steel
company. director Of the Youngs-
town sheet and Tube Company and
eavily interested in the Sharon Steel
Hoop Company.
Stocks Of steel supplies in con
sumors hands arc largely exhausted. >"
lie states. Manufacturing coocerrs
are buying in small lots 10 meet their
current requirements. but this is sufi
cent in the aggregate 70 give produc-
'ss tar volume of business. lndica-
l1ons are that steel Will be taken in
larger tonNare shortly.
inventories have been written down
by virtually all valley interests, so
mat further shrinkare in this rcspec.
IS unlikely. Overhead manufacturinc
costs Per ton of steel will decline as
volume OF business eNlarges and sched-
ules expand. | anticipate considerable
improvement in the steel situation"
Mr.. Bentley comments on the large
number Of orders and their small size
as indicating the fact that buyers have
ben proceeding catosly Of 10000
onS oi nhilcd orders recently on the
books OF the Sharon Steel HooD Com
(l-r
bylng and releases against ontrats
nave ecea such lately that the ompany
pians to start an additional open
uhear'h furnace at its LowellviIlo
plant within d short time.
But fer the threatened coal strike =
number of additional blast furnaces
would be put in operation, saw man
ayers. several are being placed in
readiness should the disturbance fail to
m2teTialze rend within q short
time There has been some activity
recently IN foundry grades OF iron.
Good Demand BASIS
ut IS wrong to gain an impression
that the volume of tonnage coming to
the steel plants has gained because of
the strike threat states an executive
OF the Brier Hill Steel Compan. The
demand is much better and has a sus
tam ne influence back o. it. 1t is not
spontaneous"
The Eeech Bottom plant Of the
WhitakerG Giassner Company. subsi
diary OF the Wheel 70 Steel Corpora
non, resumed operation in in part on
tuesday of this week. The plant has
been closed for several months due to
strike About 100 men returned to
the mill to work this week. d. Allen
Burt president of the corpora
non stated they expect to begin the
operation Of more mills in the plant
and 90 not anticipate any trouble
Six of the mills Of the Yorkville
plant OF the same corporation, in which
work was resumed under similar cir
changes are anticipated. These mills
have been in operation for several
weeks.
Reports show that the steel business
1T the Homestead and Duquesne plants,
largest of the United States Steel Cor
aoratlon, are slightly improved over
the previous week, especially at the
former plant.
All mills are operating at Homestead,
including the Howard Axle Works,
which is running on a two and three
day schedule. The plate mills and the
open-hearth departments are making
fair tonnage. but not working in full,
rs there are a few furnaces down.
Shenango Valley concerns that are
engaged in producing automo oblc
rames, parts and ether equipment
needed are anticipating a busy period
covering the next three or four months
The sheet mills also are preparing to
operate at full capacity on account OF
the automobile interests coming in
with much new business.
Sheet Division Active
Sheet division of the steel industry
continues to show more life. Individ-
ual tOnnages are for larger amounts
and buyers are booking ahead in some
cases, though still in moderate way.
Builders OF metal furniture and range
makers are among the buying inter
osts which are increasing specifications
against business on the books. Among
producers the feeling grows that sheet
prices VIII trend toward higher levels,
but not until q heavier backlog is es-
tablished. Mills are still able to make
deliver es within two or three week;
in NEST eases. 1t is felt thai backlog
of 81 least six weeks must be built up
before there viii be sufficient warrant
Tor higher quotations.
Bars, plates and shapes are holding
20 the l.50-cent minimum recently es-
tablished, with exception that the Brier
Hin Steel Company is rot accepting
plate tonnage under 1G0 cents In
view of the higher asking price the
interest admits it is not getting much
business, though enough is tricking
through to partially engage its plate
units.
Establishment Of minimum price
Of $40 on nails and S2.25 on plain I.
wire per 100 pounds has served to
stabilize the wire products market and
more tonnage has been
moving within the last two weeks. /
Small BUYERS are still compelled to pay /
the $3.50 base on nails. only the larger
enjoying advantage Of the /
concession. Prices lower than $40
on nails have virtually disappeared.
Business has been placed with CON
bly, more freedom by jobDers.
Thile seasonal demand has served as a
Some agricultural fence wire
x likewise being rol..d in this terri
.Ory.
Predictions that sheet bar prices may
idvance are materializing in a moderate
yay. a $50 minimum applying to orders
'equiring prompt shipment. Most ton
age moving under contract, however,
s going at 500 Demand for sheet
ars is holding UP the semi-fnished
larket and some interests are unable
o give prompt delivery on new bust
ess.
Steel operations in this district are
hts Last