San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1924-04-10
EASTERN STEEL
MILLS RECOVER
FROM FLOODS
Pennsylvania and Ohio
Plants Curtail Pro-
duction.
CAR SALES ARE HEAVY
Manufacturers Records
Show Automobile Trade
Going Strong.
CAR SALES ARE HEAVY
BY j. c. ROYLE.


New York, April 1O.-Practically
all the steel mills in the great Penn
sylvania and Ohio districts which were
affected by recent high waters have
recovered from the effects of rhe floods.
but not all of them have recovered
from the effects of trade rumors and
reports. There is in evidence
slight falling off from the high rate
of production that existed in Febru
airy and March.
The most authentic reports indicate
that the March steel production varied
little from the 100000 tons a year
rate which was reached in February.
The market condition at present does
not give much hope that this rate
will be continued throughout the cur
rent month. 1t was in April of last
year that the high rate of steel pro-
duction in this country was attained.
However. the general answer of
steel experts to all comments is that
the present character of the buying,
while quiet, is sufficient to maintain
operating schedules at satisfactory
rate. even though they fall somewhat
from the record highs. 1t is unlikely
that the production of pig iron which
in March reached the enormous total
of 3,461, 1872 tons. will be maintained
this month. Already some of the fur
: naces which were operating in March
have been banked. This has been most
noticeable in the Youngstown district.
Pig Iron Market Stagnant.
The pig iron market in the Pitts
burg section is more stagnant than
had been anticipated and some of the
producers are expressing apprehension.
Prices are showing a tendency to
weaken. although there has been no
violent lowering of quotations. There
has, however, been PERCEPTIONS drop
in scrap prices, and'it is probable that
mills could buy iron scrap today at
$3.50 a ton.
A decided factor in steel has been
the doubtful reports concerning the
automobile industry. The motor car
manufacturers turned out cars at a
rate 10 per cent higher in the first
three months of this year than fOl
the first quarter of 1923. but the
March production is reported in stee
centers to have been = IL per cent
below that of February.
Some of these reports have not been
substantiated. One rumOr from
Youngstown declared that the Ford
company issued orders TO hold up
sheet shipments. Reports from au'
thentic Detroit sources indicate, how
ever. this pessimism has been greatly
over-emphasized. The Ford output in
March totalcd 20j,13J cars and trucks.
new high record for any month III
The comnany's history. More impOr-
tant still, however. is the fact that
10S040 of these vehicles were deliv-
cred in the last ten days Of the month.
Ford Sales Heavy.
This would seem to indicate clearly
that so far as the Ford company is
concerned. the buying public has moi
lost its appetite for automobiles. II
is known that the Ford demand today
is even greater than during the las;
ten days of March, when the daily av-
erage Of deliveries was 10.0S4 cars.
Sales arN production figures OF
other producers. while not perhaps 50
favorable as those Of the Ford com
panys show the automobile business
still is going strong. FOR example
Dodge Brothers turned out 81 ABS cars
in March. compared with 20.434 in
February. and officials say the April
output will be even heavier. The Hud'
son company completed 14,G12 cars in
March as against 1860 in February
while StudebaEer. with production
Of 1850 last month. exceeded the
February figures by 800.
Railroad ear buying Of steel has lost
its spectacular character and orders
of this type are likely to be seriously
missed this month. There is too Wild
difference between the untitled or
ders of United States Steel and indie
prndents to maintain an evenness oil
sentiment and this is giving rise tC
widely different opinions as TO Tho
nearby prospects Of the industry.