The Iron Age 1910-06-02: Vol 85 Iss 22

Published Every Thursday by the DAVID WILLIAMS COMPANY 14-16 Park Place, New York é Entered at the New York Post Office, as Second Class Mall Matter. Subscript ice, United States and Mexico, $5.00 per Annum; to Canada, Pt cee to Other Foreign Countries, $10.00 per Annum. Single Copies, 20 Cents. Cuar.es T. Roor, - - - - - PRESIDENT CHARLES KIRCHHOFF, - - - - - VicE-PRESIDENT W. H. TAyvor, - - TREASURER ANDO GENERAL MANAGER Haroon S. BuTTENHEIM, - - ° - - SECRETARY Geo. W. Cope, - : . : - } Epirors |. Finovey, - - - ~ ~ MECHANICAL EDITOR H. R. Cosreicn, - - : - - Branch Offices Philadelphia, Real Estate Trust Building Chicago, Fisher Building Pittsburgh, Park Building Cleveland, American Trust Building Boston, Compton Building Cincinnati, Mercantile Library Bldg. CONTENTS PAGE. Editorial : a Week of Larger Businees., ci. «oi ows sos xbeods tha ee 1269 European Purchases of American Bonds............ 1270 Peet eating Qemere. ss occas hia cdaer eels veces 1270 The Work of the American Iron and Steel Institute... 1271 Pig Iron Stocks as a Market Factor................ 1271 Workmen’s Compensation Needs Amendment........ 1272 j Texas Ore for Bastern Works... 000s ses cea cou Coeee 1272 The Valley Mould & Iron Company’s Operations......... 1272 The American tron and Steel Institute...............6. 1273 Canada’s Free Imports of Metallic Products............. 1275 The Civie Federation and Industrial Accidents........... 1276 CONGR BO Ss Cee vn daenntnesane segment keene 1276 International Geological Congress. ..........e0seeeeeeee 1276 The Iron and Metal Markets Reports............. 1277 to 1286 SVG AEE Tndustrigl GROG se 6 co ook tke Seep kes 6 hes eo 1286 American Iron, Steel and Heavy Hardware Association Or- es oa. eRe co ok wake cee eke Cae we Uber 1287 OR SA acted ks oo vn teseeneeeteeann.ceaess cee 287 The Machinery Markets Reports.................. 1288 to 1299 The National Steel & Wire Company's Affairs............ 1299 April Exports and Imports of Iron and Steel............ 1300 The Master Boiler Makers’ Fourth Convention........... 1300 Western Freight Advances Halted............0500 es eueee 1300 eee Aenteniiom Tom TOOY. oo kano ac bd eis wo wna ves ewie cee 1300 he Testing Society's Meeting at Atlantic City, June 28- , EE IE au wis alr ie cain » © Sah owe GaN au chs Gp aduwesed cube Gs 1301 nes Wh SEGUE SOD Sn ssa tcc ce ee 4 wa Eo ewae t ate ih 1302 EINE a Sea ee ee pene 2 ee eee eee 1302 Comparison of Electric Furnmaces..............0e0080% 1303 RE ear ES oa yaaa a a 5 a0 aD aR wa Whee Welk were 1804 ats Sth Bae idialel. Siew 6° a\e Gib a dak OR wD ate 9 bo ee ka kee 1304 Mecting of Chemical Engineers. ..........cceeccescuces 1304 i ee a boa a bs ath oi Aa Whee 6 a) Oak Oe 1805 The National Machine Tool Builders. ............6.0055 1306 SR iiss: cad otk piacere Ue « 6 OO W.0 4 apo ten Fee 1306 Standard Allowable Bes VATIRIOONE awe ego cee usewae Cam 1307 Come serve Werere- 0Gr Triveid. Gesivicess 0s sc eden seas 1308 The Empire Iron & Steel Company Reorganized.......... 1310 The Camceliatin® Of Graers. <i. ice chs wet iweceues oe 5 a The Automobile and Machine Tools..............0550065 1314 The Williamsport Friction Drill. LIllustrated............ 1317 ThesSargent-Brosnihan Pipe Wrench. Illustrated........ 1317 The Herrick Rotary Engine. Dlustrated................ 1318 jones & Laughlin’s New City of Woodlawn.............. 1320 Ek. C. & M. Alternating Current Controllers. Illustrated.. 1321 Electric Tramming at Iron Mines. Illustrated........... 1322 The United States Radiator Corporation................ 1324 The Johnston & Jennings Billet Rotating Mechanism. Illus. 1324 A New Prentice Automatic Turret Machine. LIllustrated.. 1325 New Attachments for Star Lathes. MIllwstrated.......... 1326 The Osterberg Tin Mill to Be Enlarged. ...........++4.. 1326 The Farwell Wall Type Squeezer. Illustrated. ........... 1326 The Acme Automatic Nonreversing Nut Tapper. Dllnstrated pe! A Colonial Crucible Steel Furnace Record. .............. 1327 The No, 4 Hendey Universal Milling Machine. Ulustrated. = Lake Superior trom Minels:.. 1. . cs... ccc) osteo vues 330 Jeffery Automobile Factory Enlargements 5 6 Rite anti aae we adc 1330 , Business Hours Are to Be Restricted in Cuba............ 1330 , The Hey! & Patterson Monorail Trolley Hoist. Illustrated 1331 Welt ho-Altermateew os ccs ain 0 0.06 ookome oe eon ce 6 h0ne one 1 331 The Mining Machinery Outlook. .........6..---eceeeees 1331 New Prentice Drills. lilustrated........4..-.--5 se seee 1232 A Dodge Rope Drive in a Rubber Mill. Mllustrated........ 1333 New Tools and Appliances. 6... 6.06 eee cee eee eees 1334 ~ Judicial Decisions of Interest to Manufacturers.........-. 1335 Trade Publicathoss i eek 6 6a cso dsc tacks e se ccc ces once 1336 Current: Metal Prices. ..cccie ce cece bans csncecevevses 1338 THE TRON AGE New York, June 2, 1910 Vou. 85: No, 22 A Week of Larger Buying Railroad Policy Now in Doubt Activity in Western Pig Iron Markets with More Aggressive Competition The question uppermost in the iron trade is the ex- tent to which the Government injunction of rate ad- vances by Western roads will affect railroad buying. This action, coming on the eve of the enforcement of the new rates, and after the railroad companies had planned for larger expenditures in the expectation of increased revenues, has sharply checked the better sen- timent that has recently prevailed. The Chicago district has been the chief center of activity in. the past week. Pig iron contracts closed there, for basic and malleable Bessemer, amounted to fully 60,000 tons, while orders for bridge work were placed by the railroads after long negotia- tions, to a total of more than 24,000 tons. Buying of pig iron has brought out lower prices in nearly all markets, Chicago showing aggressive com- petition from producers in other districts. Buffalo re- ports sales of 40,000 tons at from 25 to 50 cents below last week’s basis. Southern iron has been sold in round lots at $11.50, Birmingham, for No. 2. In some cases producers not willing heretofore to name this price have come to it, and after booking a certain amount have refused further orders for last half below $12. In New England, iron from New York State and Virginia furnaces has sold as low as $17.50, delivered. There are furnaces in both districts, however, that will not meet such prices. chiefly In steel making iron sharp competition developed in the Chicago district for one 10,000-ton contract for an independent steel plant, a large Southern producer In the Pittsburgh district basic 3essemer irons have again lapsed into duliness. The hope that the leading interest would buy has re- ceived no encouragement, particularly as it has cut down its own production to a greater extent propor- tionately than have the merchant furnace companies. One Steel Corporation furnace started up this week, leaving 30 now idle. Bessemer billets are weaker and resale steel has been offered at close to $25, Pittsburgh. Rail orders include 12,600 tons for the Seaboard Air Line, taken by the Tennessee Company. A sale of 4500 tons has been made to the Isthmian Canal Commission and these rails will also be rolled at Ensley. The inter- national rail market has stiffened up, as the rail mills in all countries have been comfortably filled. British and Continental mills have advanced the price 5 shill- ings, followirig the advance of some weeks ago in plates and structural material by Scotch and North of Eng- land mills. Inquiries havé been received in this coun- try from Australia for 27,000 tons of rails and there is some inquiry also from Brazil. securing the business. and S. DIESCHER & SONS. «3 ~ ¢€>5 1270 The structural business of the week has been excel- lent, particularly in the West. Railroad contracts taken by the American Bridge Company include 10,000 tons for the .Northern Pacific, 4000 tons for the Great Northern, 4400 tons for the Soo Line, 1500 tons for the Chicago Great Western and 3500 tons for the Pennsylvania Lines West, the last named placing 700 tons additional elsewhere. The Fort Pitt Bridge Com- pany will furnish 3000 tons for wharf sheds at New Orleans and the Worden-Allen Company 3300 tons for the Milwaukee Electric Railway Company. Low fab- ricating prices are heard from in the East and the Central West, and in plain structural material, as in plates, sales at 1.45c., Pittsburgh, are more common. At Pittsburgh the prospect of larger railroad buy- ing has been made much of by steel manufacturers in the past week, the New York Central being credited with negotiations for 450 locomotives and the Balti- more & Ohio for 250. x All such calculations are now subject to revision. The Texas Company bas been figuring on 200 to 250 miles of 8-in. pipe for an oil line. In California a proposed water line from the mountains to Los An- geles will require 40,000 to 50,000 tons of plates. The wire trade, in which for some time buying by jobbers has not been up to expectations, shows im with a movement of stocks from provement, better jobbers’ hands. There is more inquiry also from manufacturers of bolts and screws. European Purchases of American Bonds European financial resources continue to be drawn The group of upon to meet the necessities of our railroads. official that a French banks had purchased the entire $50,000,000 of bonds to be issued by the Chicago, Milwaukee & St. Paul Railroad Company was received with much satis- announcement last Thursday faction by American financial and general business interests. This is the most important single transac tion of the kind that has so far come to light. Includ- ing this purchase, it is estimated that in the five months of the year just ended a total of over $120,000,000 of American securities has been marketed exclusively in Europe, while French, German and British bankers have participated in absorbing American railroad bond offerings of at least an equal amount. Negotiations are stated to be in progress for placing abroad consid- erable additional quantities of American railroad bonds, and it would not be surprising if the amount should $100,000,000, According to the Wall Street Journal, a leading American banker makes the state- ment that the success achieved in enlisting the back- ing of the ultra-conservative Credit Lyonnais, the lead- ing bank of Paris, for the distribution of the St. Paul bond issue will tend greatly to raise the standing of American securities abroad. reach It is interesting to note that the number of individual bonds into which the St. Paul issue will be divided will be over 400,000, or of a value of about $100 each, indicating how widely they will be distributed among investors of France and other countries of Europe. It is, of course, not altogether pleasant to con- template this increase in our foreign indebtedness. The money now borrowed must ultimately be repaid, while the interest will help to swell the annual foreign ac- count which must be met by shipments of merchandise or gold. This year, however, we are in such a position THE IRON AGE June 2, 1910 that the purchase of so large an amount of our bonds by European investors will greatly relieve a situation which was fast becoming strained, to say the least. Our once enormous international balance of trade has not only dwindled to nothing, but some months wit- ness a greater value of imports than of exports of mer- chandise, thus requiring exports of gold to meet ad- verse balances. While our liquid capital has thus been heavily drawn upon, our railroads have, as usual, de- veloped necessities requiring the use of large amounts of money for the purpose of enlarging their facilities for handling the steadily expanding business of the country. It is highly creditable to the standing of our great banking houses that in this emergency they have had sufficient influence abroad to enlist the co-opera- The tension of the finan- cial situation is thus happily being corrected. tion of European bankers. The foreign investment in American securities will not only check the shipments of gold, which if con- tinued much further would cause financial stringency, but will enable the railroads to purchase needed equip- ment and to enlarge other facilities for handling traffic which will give business to numberless American indus- tries. Part of the capital secured by foreign pur- chases of securities may be used, it is true, to refund obligations now falling due, but nevertheless a consid- erable amount will be available for desired improve- ments. Immediate benefit to general business is theye- fore to be expected. The future may be relied upon, as heretofore, to take care of itself, as railroad and business expansion in this country is always prolifie of excellent results. In this connection it may be remarked that the splitting up of bonds into small denominations for the purpose of attracting the favor of foreign investors seems to be worthy of trial in this country. The so- called “small lot” investor in stocks has been found sufficiently numerous to wield considerable influence in times of depression when securities are to be had at The make moderate savings from their wages or salaries is bargain prices. number of individuals able to very large, and if they were able to buy bonds in de- nominations of $100 to $250 it is likely that the aggre- gate which would then find lodgment in the hands of the masses would be huge. It would appear to be a experiment worth trying by some of our railroad co panies now endeavoring to place an issue of bonds q adopt the plan of a “ popular loan”’ by offering at leas The wider distribution of railroad bonds, if it could be thus effected, a portion of their bonds in small denominations, would not only tend to greater stability in their prices, but might also prove beneficial to railroad interests by enlarging the number of citizens who would have a friendly feeling toward railroads thropgh such investments. There is certainly great need at this time of popularizing railroad affairs. Profit-Bearing Orders In the annual report of a large traction company occurs a statement to the effect that, inasmuch as the total profits earned for the year were so much and the total passengers carried were so many, the profit earned On the surface this looks all right, yet the fallacy of the state- ment can be easily shown and will readily be admitted No one will deny that the road must per passenger was a certain stated amount. by most persons. June 2, 1910 carry a certain hundred thousand passengers before it will have recovered the expenses of operation, and hence before it can earn one cent in profits. It is, then, not the first but the last million passengers car- ried which furnishes the profits of the corporation. In this is crystallized an important but seldom con- sidered truth. That it is realized by some is evidenced by the much advertised railroad excursions and by the dumping of manufactured products in Europe by our factories in times of depression at home. Im the first case, the railroads are after the “last million” with its dividend paying fares; in the latter, the manufac- turing company is seeking the “ first million ” to pay its running expenses, which still pile up, although half its capacity may be shut down. The application of this principle to manufacturing establishments generally has not, however, been very widespread, although it presents itself as equally ap- plicable to other classes of business than the railroad and the factory. All that is required to indicate the ex- teat to which the practice may be carried is a chart showing how the expenses vary with the volume of business transacted, and good, sound business judg- ment. This last is mentioned in distinct contrast to the slave of custom, who estimates and quotes by rote, en- couraging himself over the loss of a big order, with the defense that “if we can’t get the order at our reg- war prices, we don’t want it at all.” But the fact still remains undisputed that maximum output tends to ‘maximum returns; and it presents itself as a truly - sane action for a firm to take additional business at re- duced rates, provided that can be done without disturb- ing its own natural market, when an examination of its plant and books has shown enough business already accepted at regular rates to meet the normal running expenses. The Work of the American Iron and Steel Institute The account of the first annual meeting of the American Iron and Steel Institute given elsewhere indicates that after a period of comparative inactivity this organization has plans on foot which, if carried out, will make it widely influential. An ambitious pro- gramme of work in technical, commercial, sociological The extent to which practical effect will be given to it will depend much upon the subsequent action of the directors and upon the manager into whose hands the direction of the work is committed. It may seem that the technical field is already occupied by the American Institute of Mining Engineers and by the Iron and Steel Institute, which for 40 years has had its headquarters in Lon- don, while all its officers have been connected with the British iron trade with the exception of Andrew Car- negie, president in 1904, the year of the American meeting, and the vice-presidents chosen last year from the United States, Germany and France. But the for- mer of: these two organizations has iron and steel metallurgy and iron and steel works practice as but one of its various fields. The Iron and Steel Institute, and statistical lines has been proposed. to be sure, has as its exclusive purpose the “ discus- sion of practical and scientific subjects bearing upon the manufacture and working of iron and steel”; but its membership, while international, includes compara- THE IRON AGE 1271 tively few of the younger men who have come up in the American iron trade in the past ten years. It may be that the lines of operation suggested for the American Iron and Steel Institute at the meeting in New York last week are more than a single organi- zation can hope to compass. That is the criticism which will naturally be passed on these proposals as they stand. Judging from the auspices under which it was formed and its official personnel, the institute may be expected to give chief prominence to commercial and betterment questions. It is noteworthy that the first special committee to be appointed is to deal with a matter that concerns vitally the interests of employees. Mr. Dickson, in introducing his argument for a six-day week for all iron and steel workers, at the dinner of Friday night, referred to the efforts of the Steel Corporation looking to the cutting down of seven-day labor to a minimum and to the difficulties encountered in connec- tion with the continuous processes. The co-operation of all steel manufacturers was invited in devising a workable plan under which no employee shall be on duty for 12 hours a day seven days in the week. The result was the unanimous passage of a resolution re- ferring the matter to a committee of five to prepare a plan and submit it to the institute. With full appreciation of the difficulties involved in the proposal thus put before the steel manufacturers of the country, it may safely be said that they are not insuperable. With their record for the solving of problems that have repeatedly blocked the advance of the industry, the engineers and managers who have done so much to put American steel works practice in the forefront will not be willing to confess failure in advance, when thus challenged to bring about a much desired change. Ore unloaders, traveling cranes, charging machines for open hearth furnaces, auto- matic skip hoists, pig iron casting machines and the whole list of mechanical improvements that have been steadily cutting down the exhausting drudgery of iron and steel works operations have been the response of engineers to the constant demand for new economies in production. It will scarcely be claimed that the sub- stitution of a six-day week for a seven-day week and the abolition of the 84-hour week in the iron industry are of less consequence than the ends served by any of the mechanical improvements mentioned. One consideration should not be overlooked in con- nection with this first concerted effort of the American Iron and Steel Institute in lines other than commercial. The iron industry is largely exempt from labor union domination. It should, therefore, be in all particulars, as it is in most, an industry in which the conditions of employment are better than the coercive measures of militant unionism have succeeded in making them. Pig Iron Stocks as a Market Factor When stocks of pig iron in the hands of merchant furnaces have been referred to in various comments on the pig iron market in recent months, surprise has been expressed that an accumulation so small should cause such weakness in the market. The stocks at merchant furnaces April 1, for example, which were estimated by producers at 1,000,000 tons, were spoken of as “less than a two weeks’ supply.” That is true, if 1272 the comparison is made with the total production of the country, . But that is not the case, The compari- son of merchant furnace stocks should be made with merchant futnace production, which is somewhat less than one-third the total production. Therefore, the time such stocks would last in the trade. to which they would naturally go would be three times.as Jong as the common estimate given above. Moreover, when large steel companies that ordinarily buy a portion of their pig iron requirements in the market find their own blast furnaces more than adequate to supply their needs, steel making pig iron is to a considerable extent eliminated from the account, leaving the accumula- tions at furnaces to be compared, for the most part, with the ordinary consumption of foundry and mill iron. It can be seen, on such a statement of the situa- tion, that the significance of the stocks reported April I is not just what might be concluded from the stand- ards of measurement usually applied. This is not saying that the stocks recently reported are a serious weight upon the market. calling attention to the fact that a statistical statement needs to be judged in the light of conditions not ex- It is simply pressed by the figures, also that with a falling market and hesitating buyers a given stock is a heavier incubus than the same stock would be when buyers are keen to contract. In other words, it is fair to say that the stocks of pig iron now at blast furnace yards are exerting just about the influence they might be ex- It should be borne in mind, too, that stocks are but one of a pected to exert, in view of all the conditions. number of considerations that determine the attitude of pig iron buyers. Workmen’s Compensation Needs Amendment The experience of Great Britain with its Work- men’s Compensation act suggests that one point in par- ticular should have careful attention from the various State commissions now at work in this country. Pro- vision should be made in any bills that may be framed, so that the line shall be sharply drawn between an actual accident and injury resulting to a workman through his own physical weaknesses. The British courts have taken a very liberal view of this question considered from the standpoint of the employee. Case after case has been decided against the employer where inherent physical weakness in a workman was devel- oped in the course of his labor and resulted in the loss of his time or in his death, In a case just decided a man suffered from heart disease, which might have carried him off at any moment. He was tightening a nut with a spanner wrench, when the effort ruptured the aneurism and he died. The final court of appeal decided that while the strain of the work was quite ordinary the case came within the provisions of the act, because the man died, not from the disease alone, but from the disease and the employment taken together. It is easy to see where hundreds of cases of physical incapacity and scores of deaths would result annually in this country from cases akin to that which figured in the above decision. Any law that compels an em- plover to compensate his workmen for their own phy- sical infirmities is unjust. It would seem to suggest a physical examination for every man as a preliminary to his employment, with periodic examinations after- ward, and his discharge if he were found to be unfit. THE IRON . AGE June 2, 1910 Otherwise. large damages would be constantly assessed against the employer. .Doubtless*the British law could be so amended as to preclude the possibility of such an interpretation. Certainly if compulsory workmen’s compensation is to be adopted in this country—and ‘it has many. warm advocates—the statute should be so framed as to apply only to accidents, as commonly un- derstood. Texas Ore for Eastern Works Austin, Texas, May 26, 1910.—Regular shipments * of iron ore from the Cass County field of Texas to Eastern iron or steel works will be inaugurated in June, according to advices received by the State Rail- road Commission. It is announced that these ship- ments will have no connection with the exploitation of iron ore beds in that section of the State which Charles M. Schwab and associates are preparing to carry on. The information received came in the form of a joint application from the International & Great Northern Railroad, the Texas & Pacific Railroad and the Texas City Terminal Company for authority to put in a rate of $1.50 a ton on iron ore, carload shipments, from Jefferson, Texas, to the ports of Galveston and Texas City. It was stated in this application that the move- ment of the ore would begin early in June and wouid be shipped to Eastern points by boat via Texas City and Galveston. It is not publicly known at this time what persons or interests are back of the proposed & velopment enterprise. Several months ago the railroad commission ap> proved a similar application on the part of the Santa Fé Railroad for the movement of iron ore from the Cass County field to Port Bolivar, situated across the bay from Galveston. This application was made in the interest of the Bethlehem Steel Company, it is stated. To facilitate the transportation of the ore to Port Bolivar the Santa Fé will build a 40-mile ex- tension of its road from Longview into the heart of the ore field. Pending the construction of this ex- tension, the Bethlehem interests have been conducting exploration work upon their lands, with the result that the ore tonnage in sight has been increased enormously. —————_9--e————_—_—. The Valley Mould & Iron Company’s Operations.— 3eginning July 1 the Valley Mould & Iron Company, Sharpsville, Pa. (formerly the Thomas D. West Foundry Company), which is a large consumer of Bessemer pig iron in making ingot molds, will begin drawing its supply of molten iron from two nearby stacks, one furnace of the Shenango Furnace Company and Claire stack of M. A. Hanna & Co. The Valley Company last fall purchased Alice stack, at Sharpsville, from the Youngstown Sheet & Tube Company, possession to be given July 1 of this year. It was presumed that_the company would put this stack, which has a capacity of 275 tons per day, on Bessemer iron and use the output for its own foundry, bui it seems that such is) not the intention, as the Alice furnace, which is now undergoing repairs, is to be put on basic iron July ¥ the product to be sold in the open market. Commené- ing about January 1, 1911, the Alice furnace will Be put on Bessemer iron and the product will thereafter be used by the Valley Company in the manufacture’ of ingot molds. ssiiesiciillgitihnoitattete The Titan Steel Casting Company, Newark, N. J., is installing additional cranes in its steel foundry. In one of the bays a 25-ton electric traveling crane will be put in to replace hydraulic cranes now in use. Six post cranes will also be added, each having a swing of 270 degrees, the cranes being alternated so that one will have 90 degrees swing in a given bay and the next a 180 degrees swing in the same bay. \B June 2, 1910 THE IRON AGE 1273 The American Iron and Steel Institute The Abolition of Seven-Day Labor at Iron and Steel Works Discussed at the Annual Dinner and a Committee Appointed to Consider the Subject— Officers for the Coming Year The annual business meeting of the American Iron and Steel Institute was held at the Waldorf-Astoria, New York, Friday, May 27, at 4 p.m., and in the even- ing at 7.30 at the same place was held the annual din- ner. While the members had not been called together for months, or since the dinner in October, 1909, when his fellow manufacturers paid their tribute to Judge E. H. Gary, the president of the institute, there has been a gain in membership, the number being now 240; and the directors have had under consideration plans for making the organization effectively active. These were discussed at the meeting of Friday afternoon, with the result that the institute gives greater promise of permanent usefulness than at any time in its career. It would seem, indeed, that the purpose of the officers is to give the institute a wider scope than that of any organization connected with the steel industry either at home or abroad. Lines of Work Outlined President Gary spoke at some length of the various activities in which the Board of Directors felt that the institute might well engage. While, unlike the Iron and Steel Institute, which has headquarters in London, it might continue to give attention to commer- cial questions, it should also take up the technical side of the industry and make technical papers an important feature of its stated meetings. The relations of the in- dustry in the United States to producers in other coun- tries, and matters pertaining to international trade in iron and steel were also referred to as properly within the scope of the institute. Then there were the rela- tions of employers and employees and the important questions of accident compensation, relief and pension systems, and hours and other conditions of labor. In the discussion that followed, the advisability of entering upon all the lines of activity suggested was urged by a number of speakers. Statistical matters, it was also brought out, offered a broad field of activity, and in commercial lines it was the opinion of a number of members that much could be done, particularly in the line of giving greater validity to contracts for iron and steel products. It was decided, on the recommendation of the di- rectors, to hold a meeting of the institute in New York in the fall of 1910, and to invite the attendance of rep- resentatives of the iron and steel industries of Great 3ritain, Germany, France and other European coun- tries. At this meeting, with sessions extending over two or three days, papers will be read and questions of international interest discussed. It was also the unanimous sentiment of those pres- ent that the conduct of the affairs of the institute should be put in the hands of a secretary, giving all his time to its interests, and that permanent headquarters should be established. Officers for the Coming Year The election of officers for the coming year resulted in the choice of the following, all of whom are re- elected : President—Elbert H. Gary, United States Steel Corporation. First Vice-President—Powell Stackhouse, Cambria Steel Company. Second Vice-President—Willis L. King, Jones & Laughlin Steel Company. Third Vice-President—Charles M. Schwab, Beth- lehem Steel Company. Treasurer—Edward Bailey, Central Iron & Steel Company. Secretary—W*m. J. Filbert, United States Steel Cor- poration. Directors for term expiring 1912: T. J. Drummond, Lake Superior Corporation; W. J. Filbert; J. C. Maben, Sloss-Sheffield Steel & Iron Company; W. A. Rogers, Rogers, Brown & Co.; J. F. Welborn, Colorado Fuel & Iron Company. Directors for term expiring 1913: Edward Bailey; E. A, S. Clarke, Lackawanna Steel Company; Willis L. King; Samuel Mather, Pickands, Mather & Co.; John A. Topping, Republic Iron & Steel Company. A meeting of the directors was held, following the business meeting of the institute, and ways and means of carrying out the action taken by the members were discussed, particularly the selection of a secretary, who shall establish headquarters and actively forward the objects of the institute; also plans for the fall meet- ing in which foreign iron and steel manufacturers will participate. THE ANNUAL DINNER Between 80 and 90 members of the institute at- tended the dinner at the Waldorf-Astoria Friday even- ing, which was presided over by Judge Gary. When the after-dinner programme was reached Judge Gary spoke of the afternoon meeting and the questions con- sidered there and in the later meeting of the directors, relative to the lines of work to be taken up by the organization. He particularly urged that every mem- ber work to increase the membership of the institute, bringing into it representatives of all departments of the industry. To the speaker’s mind among the impor- tant matters to be dealt with by the institute are what might be called sociological questions, those relating to the welfare of employees and to hours and other conditions of labor. He had asked Mr. Dickson, first vice-president of the United States Steel Corporation, to speak on one phase of the labor question, namely the desirability of eliminating Sunday labor in the steel industry as far as possible, guaranteeing to all workers a six-day week. Mr. Dickson’s Address Advocating a Six-Day Week Mr. Dickson spoke as follows: The Iron and Steel Institute, usually known as the Brit- ish Iron and Steel Institute, by common consent has hith- erto been regarded as the leading exponent of all matters, other than commercial, of interest to the iron and steel in- dustry. This position of leadership was natural and well de- served, owing to the fact that Great Britain was for so long the largest producer of iron and steel products. Conditions, however, have changed in recent years, Great Britain being outstripped in the race, first by the United States and later by Germany. We now have a large lead, and it is safe to assume that our natural resources, our growing population and our vast territory will enable us to maintain our position as leader for many years. By analogy, the recently formed American Iron and Steel Institute, which we to-night represent, should in the course of time assume an important, if net pre-emi- nent, place in the development of this industry. This it can and should do: not in any ungenerous spirit of rivalry with our brethren across the sea, but because the changed condi- tions have placed within its sphere of influence large ques- tions affecting our industry which must be solved, if solved at all, by the united wisdom of American iron and steel man- ufacturers. It is manifest, therefore, that on you gentlemen, who are the incorporators and directors of the institute, de- volves an important and far reaching duty in determining 1274 the scope of the work of the institute and the policies to be pursued. — . A BROAD SCOPE FOR THE AMERICAN IRON AND STEEL INSTITUTE. I am informed that the subjects which :are .permitted to come before the British Iron and Steel Institute have been limited in the main to technical and scientific questions, spe- cial care being taken to avoid discussion of commercial ques- tions. Whether or not this same policy will be pursued by this institute will be decided, of course, by the directors. In addressing you to-night, however, I am assuming that a broader policy wil] be outlined, which will include not only commercial but sociological questions as well. It is not my purpose to discuss or even to suggest all the matters deserving of your attention. In fact, I desire to present only one question; but that, in my judgment, is of such paramount importance to the future welfare of the trade that it is deserving of your immediate and earnest thought. This question is a phase of the relations between the manufacturer and the employee. I am quite aware of the difficulties surrounding a discussion of this subject; nevertheless, I believe it presents questions which must be faced, and that soon, and it is the American way to meet difficulties openly. RECENT BETTERMENT MEASURES OF THE STEEL CORPORATION. As you are aware, the United States Steel Corporation has recently taken some advanced steps in matters vitally affecting the relations between our warious companies and their employees, namely, the reduction of seven day labor to a minimum, the establishment of a system of accident and accidental death relief, and the establishment of a pension system. In considering the first named, i. e., the question of a seven-day week, we were, of course, met at the outset by the difficulty of adjusting a six-day week to the operations which are necessarily continuous and which are generally so recognized, even by the most radical opponents of the seven-day week. This refers particularly to such depart- ments as the blast furnaces. The corporation has not yet been able to devise a practical working system by which the men employed at these continuous operations can be given one day off in seven, and the purpose of this paper is to in- vite the co-operation of other companies operating blast fur- naces, with a view to devising some workable plan. In this connection I may state that as recently reported in the press, Mr. Schwab has very properly protested against the Government officials singling out his company for criti- cism on this point, as the practices at Bethlehem which were criticised are common to all blast furnace plants. THE TREND OF SENTIMENT. The tendency of the times is plainly in the direction of some measure of regulation by the public authorities, both State and federal, of the conditions under which working- men are employed. The most striking evidences of this trend are the two employers’ liability bills recently intro- duced the New York Legislature, one of which has been passed and has been signed by the Governor; the signing by Governor Harmon of Ohio, on May 12, of a drastic and far- reaching employers’ liability law; the recent appointment by Governor Fort of New Jersey, of a commission to recom- mend similar legislation to the next Legislature of New Jersey: and the amendment of the bill for the building of two battleships and other vessels, providing that all material used shall be the product of eight-hour labor. This amend- ment was introduced by Mr. Fitzgerald of New York, and has passed the House and the Senate. Shall we endeavor to pass through these troubled waters “under power,’ with sufficient headway to way, or shall we be satisfied to drift, taking our chances of disaster on the sunken rocks of radical and ill-advised legis- lation? True conservatism consists not in standing still and attempting to ignore public sentiment, but rather in adjust- ing our methods of operating to meet the changing condi- tions of our times. We will thus take the place in the body politic to which our intelligence and experience entitle us, and give powerful aid in the difficult task of solving these pressing problems on a reasonable basis, which will be fair to all of the interests involved. insure steerage EIGHTY-FOUR HOURS LABOR A WEEK A REPROACH. It is my own deliberate judgment, after a period of al- most 30 years continuous connection with the industry, the early part of which was passed in manual labor in the mills, that the present conditions which necessitate the employ- ment of the same individual workman 12 hours a day for seven days a week are a reproach to our great industry, and should not in this enlightened age be longer tolerated. I therefore urge upon the directors of the institute the appointment of a committee to consider this question and devise a workable plan which can be recommended to all companies, whereby no individual shall be on duty for more than six consecutive days. I urge this because it is the right thing to do and is in line with the spirit of the age in which we live, and I am cenfident that these are sufficient reasons THE IRON AGE June 2, 1910 to insure its being done. If, however, any further reason should be necessary, in my judgment we have. the conclusive one that if we do not do it voluntarily we will in the near future probably be compelled to do it by the passage of legis- lation by the various State Legislatures which may be so radical as to create a serious situation for the entire iron and steel industry. Discussion on Labor Questions and Other Phases of the Institute’s Work Calls were made upon various members for com- ments upon Mr. Dickson’s address or on other matters pertaining to the work of the institute. C. M. Schwab, while approving of proposals for bettering labor con- ditions referred to the serious questions involved in the shortening of hours. The cases in which men work seven days a week, 12 hours a day, he said, are not numerous. As for an eight-hour day, that meant a heavy increase in labor cost and a practically impossi- ble increase in the number of steel works employees. It was a question whether consumers would pay the prices for steel products which such a change would compel, labor cost being so large a proportion of the total cost of steel production. He commented on the unfairness of a récent Government report on labor con- ditions at South Bethlehem since in the entire steel in- dustry similar hours of work prevailed and cited as an indication of the present condition at Washington the remark made to him by a member of Congress that whatever proposal came to Congress with labor back- ing would receive a practically unanimous vote. Other speakers were Willis L. King, Joseph G. But- ler, Jr., Geo. W. Perkins, E. A. S. Clarke, J. A. Camp- bell and O. P. Letchworth. Messrs. Clarke, King and Letchworth referred to the possibilities of the institute in securing co-operative effort. Mr. Perkins believed much could be done toward the solution of the question raised by Mr. Dickson; that the leaders in the steel in- dustry were able to make adjustments which would leargely do away with seven-day labor. He was dis- posed to question whether in the absorption of manu- facturers in the great problems before them in the past 10 years they had treated their employees as fairly as they ought. Mr. Butler, after saying that any radical change in hours of labor in the iron and steel industries would be a matter of no little time, referred to the present con- dition of the-pig iron market. Bad as it had been con- sidered, stocks of pig iron at furnaces on April I were only about 1,000,000 tons, or less than a two weeks’ sup- ply, while standard Bessemer made up only 100,000 tons of the total. He turned aside to speak of the pro- posed McKinley Memorial Building, at Niles, Ohio, the birthplace of the late President, and asked for the help of all iron and steel manufacturers in carrying out the plan. Mr. Campbell said that his company, the Youngs- town Sheet & Tube Company, had put in operation a profit sharing plan last July, and later had devised a system of compensation for employees injured in acci- dents. He considered it unfair that employees at iron and steel works should be asked to work 12 hours a day seven days in the week. On Mr. Campbell’s motion the directors of the in- stitute were asked to appoint a committee of five to in- vestigate the question of seven-day labor in continu- ous processes in the iron industry as raised in Mr. Dickson’s paper and submit a report to the institute. International Competition Without Antagonism Judge Gary, in introducing Fritz Thyssen of the Deutscher Kaiser Works of Thyssen & Co., referred to the father of their guest as the “ Carnegie of Ger- many,’ and to the friendliness with which the Thyssen firm had received the proposal that there should not be unnecessary antagonism in international competition in the steel trade. Mr. Thyssen acknowledged the cordial- ity which he had met in his travels among the iron June 2, 1910 mines and iron and steel works of the United States; he spoke also of the interest with which Judge Gary’s views on co-operation had been received by iron and steel manufacturers abroad. In bringing the programme to a close Judge Gary said that for himself he did not favor taking up sociological questions, such as the one they had con- sidered, because of any feeling that a public sentiment compelled them to do so, Fidelity to the interests of those whom they represented was to him an important consideration. The highest type of an honest man is not the one who leans backward in his effort to be fair, but the one who is not afraid to decide in favor of his own friend if that decision would be right. The American Iron and Steel Institute should never be in the position of being pushed to take a certain stand because of a public sentiment that might overwhelm it, without regard to whether that sentiment was right. It ought to be so fair and so just that it shall come to be a leader and that it shall be followed by public opinion, because it has a right to be so followed. In Attendance at the Dinner Those present at the dinner were the following: G. G. MeMurtry. C. A. Meissner, Charles MacVeagh. Charles F. Miller. Edward Bailey. George Bartol. E. J. Buffington. Michael Blake, J. G. Butler, Jr. J. A. Campbell. Jas. J. Campbell. E. A. S. Clarke. L. E. Cochran, E. 8. Cook. Theron I. Crane, Geo. G. Crawford, H. G. Dalton. Thomas Devlin. W. B. Dickson. A. C. Dinkey. Philip 8. Dyer. R. H. Edmonds. B. F. Fackenthal, Jr. J. A. Farrell. Wm. FE. Farrell, E. C. Felton. W. J. Filbert. Alvin I. Findley. Lewis W. Francis. Elbert H. Gary. James Gayley. Tracy W. Guthrie. Edw. M. Hagar. Harry BE. Higgins. George E. Holton. A. F. Huston. O. N. Hutchinson, James Inglis. Archibald Johnston. Jonathan R. Jones. David G. Kerr. Willis L. King. V. Mumford Moore. Benj. Nicoll. Wm. P. Palmer. E. W. Pargny. Leonard Peckitt, J. A. Penton, Geo. W. Perkins. Antonio C. Passano. John O. Pew. Wm. 8. Pilling. Chas. 8S. Price, Chas. F. Rand. David Reeves, John Reis. J. V. W. Reynders. F. B. Richards. W. D. Sargent. Wm. B. Schiller. Chas. M. Schwab. Samuel B. Sheldon. A. J. Singer. Louis A. Shepard. Powell Stackhouse. W. A. Thomas. Fritz Thyssen. Alex. W. Thompson. John A. Topping. Richard Trimble, E. C. Wallace. W. R. Walker. F. 8S. Witherbee. F. W. Wood. Walter Wood. W. P. Worth. Edw. H. Worth. Chas. H, Zehnder, E. M. Zehnder. ——————_-_ > +e - —- —— Frank G. Kennedy, Jr. ©. P. Letchworth. Thos, Lynch, The Rolfe Iron Company, Chicago, has purchased the plant and equipment of the Riverdale yard of B. Nicoll & Co., and will engage on an extensive scale in the wholesale scrap business. This yard is one of the largest and best equipped in the Chicago district, hav- ing cranes, shears and equipment for handling the heaviest grades of material. The yard has been con- ducted by B. Nicoll & Co. of New York for the past three years, but they have recently closed out their large stock of scrap, and H. W. Rolfe, who was formerly their Chicago manager, has engaged in a manufacturing business. G. J. Carroll is president of the Rolfe Iron Company; R. T. Rolfe, vice-president, and H. W. Bryant, secretary and treasurer. The Pittsburgh, Cincinnati, Chicago & St. Louis Railroad Company (Pan Handle) is planning another bridge across the Wabash River at Logansport, Ind. It will be the longest railroad bridge in the State. Traffic on the present one-track structure is such that an engine passes over it every three minutes day and THE IRON AGE 1275 night. The proposed new structure will be double tracked. Canada’s Free Imports of Metallic Products Toronto, May 28, 1910.—The imports from the United States and the United Kingdom of iron and steel articles into Canada, as given in The lron Age of May 12 for the 11 months ending with February, were only such as were subject to duty. In addition the following metallic products were admitted free of duty during that period: United United States. Kingdom, Ones Ob. GOMER! 6 koe ih OER RRR $2,629,306 $29,334 CORE sick eh eee Cee eee ne Gk 6 eae 1,463,870 5,665 Diamond Grilles. i a a i 53,474 585 Aluminum blocks, bars, &¢........... 808,462 59,361 ADOHOTE Fis. Soke is. HEE AS RS HEELS 8,015 5,496 Brass cups for the manufacture of CHET ROG iho. SRE Ke TES ANRC 13,073 27,389 Serge WRG. Ss hte os cee. Coreen 141,690 3,020 Brass in blocks, ingots, &c........... 13,372 376 Brass, unpolished tubing............ 140,705 72,209 Brass in bars or rodS.......i.ccseas 308,449 23,305 Britannia metal in pigs, &c........... 17,510 278 Canada plates, terne plates, &c....... = cw wves 563,091 COUAER: «ink tied 3a Se oe ae ewe 149,591 5,418 SCEMD CODERS oc ces baw ees o50 ceed enee 11,599 507 Copper. In: Glee, Geos es VA teens Goat Wanees Copper int BEtE, Bei ie. See 1,647,855 1,089 Copper in strips, sheets, &c.......... 416,722 14,3138 Comes SNES oi. oS lian Chee hee ees 83,372 49,581 Copper rollers for calico printing.... 18,991 19,785 Cream,‘ eparatoress oii iu hi ew bile 401,312 74,188 Cream separator materials........... 158,036 10,769 Rods not less than 5-16 inch in diam- eter for making chains............ 20,198 1,867 Wire. Bodes. ice dar oie i a 557,576 82,914 BU Or DIGEG 6.66 esse Siew ins 09:48 s osha 335,025 24,516 Rolled iron or steel for manufacture of Pee CULORRBL oS bce Sa Cee ee Sek SRR ee wee es Steel sheets and strips, 14 gauge and 365,821 BO ie a ead a ae Kg tlk aaa eae 610,508 Steel hoop, band, &c.,.14 gange and less _........ 23.772 Galvanings irom: slieete: i... ii as Gwe eee 1,059,689 Lacquered or brass covered bedstead : TRIE Soon ais 0:5 ko bok Kk oe’ OR 119,747 35,144 Carriage rail tubing so covered....... 4,789 6,445 Tubing for window