The Iron Age 1910-08-18: Vol 86 Iss 7

oe i Betablish 1855 ‘ ; hie : Published Every Thursday by the ad DAVID WILLIAMS COMPANY 14-16 Park Place, New York Slag ——— Ent the New York Post Office as Second Class Mail Matter. se etepepeness beg Subsctir Price, United States and Mexico, $5.00 per Annum; to Canada, $7 Annum; to Other Foreign Countries, $10.U0 per Annum. Qe Single Copies, 20 Cents. i "*¢ ac. Carts T. F ; 7 " * ° > PRESIDENT CHA ; * ° = . VICE-PRESIDENT w. H, TA ag , - TREASYRER AND GENERAL MANAGER lg Harowo S HIM “ = * © SECRITARY lie vat 360. W. COPE, pe } Eorrors A FINDLEY, ° - H. R. COBLEIGH, MECHANICAL EDITOR 20 Branch Offices Philadelphia, Real Estate Trust Building Pittsburgh, Park Building Cleveland, American Trust Building Boston, Compton Building Cincinnati, Second N't'l Bank Bidg. Milwaukee, 1417 Majestic Building. Chicago, Fisher Building ; CONTENTS. PAGE Editorial Consumption Still Laie no. soi ons cower ews enc ote ee 349 Scientific’? and Practical Tariff Making............ 350 Overbuilding of Vessels and Steel Works............. 350 The Automobile and the Farmer...............++0.:- 351 Centralizing the German Pig Iron Trade............. 351 The Brussels Exposition Firé... 0... cic be cece ce ees 351 Drilling Machine Nomenclature.................2..+ 802 The Foundry Pig. Irom: TUMMG . oka «26 00s a ccces canedhaacat 352 Pig Iron Stocks at Stamh’ Wore s o..6.6 Cs. 5 sic ces sa op be epee 352 The Iron and Metal Market Reports................353 to 362 Iron and Industrial @toomew..G sib. Si ei os A ee 362 The Machinery Market Reports...................-868 to 371 The Grant & Wood Ball Department..............+.0.+%5 371 Personal ...... 6 6 caxdiea bien so Cs MINES 2S es eae 372 Ooltuary ..... 2... see e et caw beelie CRUE ite aks cee 372 The Expense of NOMPTOGWGOES.’. .. <. o cigiee cdlad eS lawew idee 373 The Lozier Motor Company’s Plants... ..6.%......lebeeees 874 The Iron City Coal & Coke Company's Enlarged Sales Office 374 The Mattaganii River Iron Ore Field..............-eeee R74 Modern Ore and Coal Handling Machinery............... 374 By-Product Ovens in America and ONIN Ac Ue DOS eee 375 The Trade Outlook In Canada.................e20ee+--- 376 Penama Scrap to Go to the Pacific Coast................ 376 Texas Ore Fields to Have Railroad Outlets.............-- 377 The Youngstown Sheet & ube Company's Bonus.........- 377 The Iron & Steel Products Company.....2.........-.055 377 Marehant’s Unbreakable Rivet Scts...............00000: 3T7 Titanium in Steel and a SES Se Se eee Se 378 The British Foundrymen’s Association................+-- 379 Judicial Decisions of Interest to Manufacturers........+.. 380 The Gary Car Axle Mill. Tllustrated.\............e0e00% 381 A Scotch Dredge for Pamama........¢..esccceenceceees 385 The New National Adjustable Spring Collet. Tllustrated.... 386 Yonditions in the British Iron Trade...........e0.se0e08 386 Castings Made by a New Process............sssseseeces 386 Conveyin Machinery for Nut and Bolt Scrap. Illustrated. 387 me Mechanical Engineers in England.................<. 388 Bliss Sheet Metal Working Machinery at the Brussels Ex- POON... one 6 pevibdlie la cna ceils ang en ane 396 Valve Gear of the New Cochrane Open Heater. Illus...... 397 The Americar Iron and Steel Institute. .........+.+.s00e- 397 The P, Eleetric Headlight System. Illustrated........ 398 A Large Wood Preoee. - Tilomtsated. .. s/<:.<s52s ans eae 399 Activity on the Cayman Races «.c:s.0 6d eR Ray tiv dar a 400 | _ Equipment Qe. 0... 3 ip abs s cey ss ehcinlos ce 400 Tools and Appiid@ees..........ccccccdeceeervestan 401 Publieations Cee ee New York, August 18, 1910 Voy Obs No. 7 Consumption Still Large Underestimated Because of the Shrinkage in New Orders The stagnation in iron and steel markets continues to contrast sharply with the large tonnage that is mov- ing from blast furnaces and rolling mills to distributers and consumers. New orders are as deceptive as a measure of consumption, now that buying is for im- mediate needs, as they were in the fall of 1909, when on a rising market contracts were made running months ahead. That prices have not yielded under continued dull- ness is due to the months of profitable business the mills have had, and to the fact that as a rule buyers are still taking full shipments under their contracts. There is no indication of any survival-of-the-fittest campaign for orders at cut prices. The closing down of the steel plant and wire mills of the Pittsburgh Steel Company at Monessen until September 1 has been given undue importance as an in- dex of conditions, in some comments of the week. On the other hand, one large steel interest at Pittsburgh reports that its specifications and new orders thus far 1 August have been more than in the corresponding part of July. The gradual adjustment of production to consump- tion is itidicated in the case of the United States Steeb™ Corporation by the fact that 41 of its blast furnacés” are now idle, against 39 August 1, 35 July 1 and 32. June 1. The two furnaces blown out this month are at McKeesport, Pa., and Lorain, Ohio, Meantime the various steel companies are eating into their stocks of pig iron, The principal rail order reported is for 10,000 tons for the National Railways of Mexico taken by the Lackawanna Steel Company in close competition. These lines are expected to make further purchases this year. The IHinois Steel Company has taken a- domestic order for go00 tons of Bessemer rails. After many months the water supply line for the Portland, Maine, district is up, and alternative bids will be opened September 12 for cast iron and steel pipe. In cast iron 42-in. pipe is called for, the total being 21,500 tons. If riveted steel pipe is decided on, about 16,000 tons of plates will be required. In steel bars while 1.40c. is the market on large contracts, the mills have closed considerable business at 1.45. Concrete reinforcing bars have been rather active in several markets. Bar iron is weaker. An effort to revive an organization of Eastern iron roll- ing mills on the lines of the old Eastern Bar Iron As- sociation has been unsuccessful. Pig iron buying has become even more contracted. A few large melters have made s under the low- are poe ite pees phe a nag age 5 aa pags nT ea nee ee rr ie tania ~~ a Nee en ee ee enn ne ee ae vr) beg a 9 Cone Grae ES ~ a 1 prone g! . pepeeerng ee ee ‘Ail res = ee ee -_ . Pan SRe rsa Nt NS See eS iene Seren eee P Pa 4 7 % io <0 en EE. Oe ~ FE Ti, ean wee ee eee ee ee ee a . ; rein iat tals gn a ON a gm : 1 tied beatae lies Myon 350 tain amount of business at the low prices of recent weeks does not mean that they can come out whole at this level. Thus far the shipments made on higher priced orders have compensated in part. But as old contracts run out there is no such equalizer, and a situation is created that will bear close watching. If it should force further cutting down of production the withdrawal of present prices might be rather abrupt. In response to inquiries from a large pig iron sell- ing firm 159 foundries report that they are melting as much iron as in 1907, while 202 report a larger and 174 a smaller melt. The net increase for those report- ing is put at 1.2 per cent. “ Scientific’ and Practical Tariff Making Impatience has been expressed in some quarters at the arrangements for extending over a period of two years the work of the tariff experts provided for by the last Congress. We are told that the burdens the people are bearing as a result of the failure to make a “ scientific ” revision of the tariff last year should not be so long continued and that the only real relief is quick relief. In reply, those who have made such large promises for the perfectly adjusted tariff which the President’s investigators will be able to suggest say that two years is not too long to wait. In fact, a re- cent newspaper article, purporting to represent the views of the President, definitely stated that the tariff experts would submit within two years recommenda- tions for the revision of certain schedules. The importance of tariff legislation as a factor in the raising or lowering of prices of many American products has been exaggerated. Not only so, but there is just now an amazing amount of credulity as to what can be done by a cost finding investigation of home and foreign industries. The doctrine has been laid down that a protective duty should represent the difference between ‘the home and foreign cost of manufacture plus a “reasonable profit.” What home cost is to be taken, in the case of steel billets, for example? The cost at Pittsburgh, Philadelphia, Birmingham, Pueblo or at the new steel plant at Irondale, Wash.? Shall it be the cost to a self-contained steel company, owning ore, coal, railroads and vessels: or to one having none of these, though operating its own blast iurnaces; or, again, to one that must buy its pig iron in the market? And when it comes to foreign works, will the com- parison be with British, German, Belgian or French works? With those best located for low assembling costs, or those located at or near shipping ports, though remote from fuel or ore? Since costs also depend upon trade conditions, will those for the United States be the costs of 1898, of 1906 and 1907, or the average for, say, a 10-year period? And which to-year period? And will freights to the districts of largest consump- tion figure in the computation or will they be ruled out as having no relation to works costs? "And how will the new tariff experts come any nearer to the for- eign steel makers’ costs than were the figures secured abroad by Chairman Payne’s special agents? As to the question of a “reasonable profit,” there is about the same fitness in a tariff expert settling it as in a government “economist ” making a physical valu- ation of a railroad as a basis for determining the rea- sonableness of a freight rate. THE IRON AGE August 3, i919 J’ But assuming that the Tariff Board has ide its pa recommendations, and assuming, as we mus hat it th has analyzed with fine discrimination the yieic. 5; al al rious industries and determined their reason» jeneg the work of the real tariff makers has then o; pi We have seen no plan put forth as yet for ti ail d of expert judgment on the “reasonableness” of th, I various State and district derhands for protection which " in the final trying out give many tariff sche lules the | form in which they go on the statute books. In the a” > past where “ scientific,’ which is to say theoretical tariff rates have come in conflict with practical scheq- ules—those which have grown out of experience or that are advocated by States or districts whose represen. tatives regardless of party linesre willing to co-op. erate with those of other States and districts—usually the scientific schedules have been voted down. In sg far as the tariff is a local question, to that extent will the programmes of party platforms and the recommen- dations of experts always be subject to modification, Those who have been so free with promises of scien- tifically graded reduction will find that the tariff is still a first-class problem in practical politics. Overbuilding of Vessels and Steel Works A text is made by the Marine Review of the fact that in this season of the largest iron ore movement a the Great Lakes, nearly 6,500,000 tons more being brought down up to August 1 than in the same period of the record year 1909, 20 per cent. of the fleet has been out of commission. With the same percentage remaining idle, it would still be possible to move 50; 000,000 tons of ore this year, though, as we have al- ready indicated, owing to the state of the iron trade no such total is probable. The plain conclusion is that with a capacity for carrying more than 60,000,000 tons of ore there are too many boats, This is a condition to which the lake trade is no stranger. The last year in which it was brought home forcibly to the vessel own- ing interests was 1904. Since that year the building of bulk freighters has gone on at an astonishing pace. We are told that The readiness with which they all found profitable em ployment naturally attracted the promoter who was 4& ways anxious to help a good thing along. Ships were built that probably would not have been built normally. It has required such a season as this, when the volume of trade moved is the heaviest on record, to emphasize the fact be yond all argument that shipbuilding has been overdone There will be no more ships built by the ‘promoter for the present. Any one that goes about with a prospectus showilé glittering profits will pour his tales into deaf ears. Ship: building for some time to come will be confined to the iro ore producing steel making companies which can use them in their own business. While no parallel is found in the steel industry this stimulation of lake vessel building by promoters methods, there is a parallel situation in the production in the past 12 months of a record tonnage of iron and steel with capacity existing at the same time for a still larger output. Usually, when excessive capacity is complained of, production is on a scale considerably less than the record. It is the concurrence of the greet est production the industry has known with a capacity, represented by modern and highly efficient plant, much beyond the consumptive demand, that has made 1910 % unique in its disappointments. In the last period of prosperity in the iron trade profits were accumulated permitting large expenditures by the leading com Aug 5, 1910 ) uilding new and adding to old works. At ime there has been improvement in practice, actor in this country, and which every year ddition to output equal to the producing ca- certain percentage of new plant. On the is represented by the increased rapidity of | unloading ore vessels, the latter due to bet- ter et ent at receiving docks, and the former to the nstruction of vessel hatches. It has made a e addition to the number of trips a vessel can rake -eason, and has had the same effect on the freig! ition as the building of a certain number of \\hat must take place in the steel industry as in the rade is a growing up of demand to capacity, and ecessary element in such growing up is time. Mean- ile the building of new steel works as well as the ding of new ore carrying vessels will wait on the process of absorption. The Automobile and the Farmer One of the significant incidents of the year has been the enormous number of automobiles purchased lo the average man in the city the auto- merely a luxury, and a very expensive one. is obliged to pay simply for storage is a formidable item. Accidents on crowded streets are frequent and costly. Repair men are quick to take advantage of a customer who is unfamiliar with ma- chinery. It is probably not unfair to say that there are now in use in the large cities more automobiles than there are people who can really afford the outlay ra mere luxury. In the country, however, the city man’s toy becomes i economic investment, which brings satisfactory re- n its cost. The farmer’s time is valuable. llows him only a few days in which to harvest r crop, and .his season is correspondingly nting and.seeding. In a critical period, when conditions are most favorable for planting or rvesting. the time that the automobile saves in nec- rands makes it an economic agency of pro- le mere saving of time, however, is only tt of the usefulness of the automobile in the \ few years ago there was much pessimis- out the tendency of farmers to “ retire” and all towns on the rent received from their ¢ automobile is now keeping the owner on his lis family, which wanted to live in town for vantages, has discovered that it is more sat- ) enjoy the full income of the farm and own bile which can run to the city in the time ld be spent in walking a few blocks than to t and other expenses of living in town. The delivery, the telephone and the automobile family in the country, owning a good farm, and of social advantages that are enjoyed tew of the people who live in cities. The de that has thus been opened tothe automo- ‘lacturer is almost unlimited. remarkable success of the automobile makers their product to the farmers may suggest an ity to manufacturers in many other lines who tlooked the possibilities of agricultural trade. rican farmer of to-day is not the man of even ‘go. In the period that followed the Civil THE IRON AGE 351 War, until about 1890, the area under cultivation in- creased more rapidly than population in the United States. Overproduction during this period caused a disastrous decline in prices, which was accelerated by a large expansion of wheat growing in Russia, Argen- tina and India. Since 1890 population in the United States has increased fast than the area under the plow, and during the past 15 years the farmer has profited by an almost continuous advance in the aver- age of agricultural prices. The demand for farm products is increasing more rapidly than the supply, and the farmer will profit more and more from this condition in years to come. Farmers who have paid cash for automobiles this year may have needed credit on a $15 road cart 20 years ago, and they will be equally liberal in the future in patronizing manufac- turers or merchants who can offer them substantial value for their money. Centralizing the German Pig Iron Trade As is indicated in our German market letter the movement to organize the pig iron producers of Ger- many and Luxemburg into a syndicate has fallen through, though for some weeks the trade had been hopeful of its success. The question of allotments was the rock on which the whole scheme split, as it will be the most threatening of all the questions the steel works syndicate must face when its renewal comes up two years hence. However, a pig iron selling agency covering the product of certain districts has been ar- ranged, and its first move was expected to be an ad- vance in the price of pig iron for 1911, seeing that the Coal Syndicate has decided to advance coke 1.50 marks. The ability of the new selling organization to control the pig iron situation even in the districts to which it will confine itself is doubted. One feature, which will be watched for its bearing on the market in ‘the United States, is that this pig iron agency will represent a large part of the German production of ferromanganese and ferrosilicon. This fact has already resulted in a firmer market for those products, and in the case of ferrosilicon it has been agreed to book no orders for 1912 before October I. The Brussels Exposition Fire The long expected has happened. A great univer- sal exposition has been ravaged by fire. But this first experience, instead of taking place in the United States, occurred in Europe, whence originated. the sav- age attacks on our inflammable construction whenever a world’s fair has been held here, from the Centennial Exposition at Philadelphia, 34 years ago, down to the last effort of this kind. The fire at the Brussels Ex- position, which occurred August 14, was a calamity which will be universally deplored. The financial loss is not so great as was at first feared, but it will be heavy enough, probably approximating $20,000,000, but many articles of historic interest were burned which can never be replaced. The world has thus suffered irrep- arable loss, not only in the destruction actually wrought at Brussels, but in the probable refusal hereafter by owners of rare and curious objects of ancient and mod- ern art to permit them to be placed’on view ‘at exposi- tions, for the edification of the masses. It would, of course, be possible to insure safety from fire by the L. a re ae a Feu” ee eieed Seietemnentineeaninocensemen pes a we Se en a n ena = 5 FE aN i I oe ey eh eRe ET ee ey OK PONY. Oe = Pm y ae eT Ph At mah Fs ei sa rare as 3 ne ie smhcabitctansetny ah . Fe -— _ Result of the Canvass Made by 352 THE IRON AGE erection of fireprcof buildings, but this would require such a heavy outlay that the cost would be prohibitive. Drilling Machine Nomenclature Some of the manufacturers of drilling machines are making the effort to eliminage the word “ drill,” as ap- plied to a machine. Custom has established the word in the vernacular of the trade. But a drill is a small tool. The machine in which it is employed might as correctly be called a “driller” as a milling machine a miller. No one has ever called a milling machine a “ mill.” Drill press is an entirely proper expression for vertical machines, even to those of the larger sizes, though, as a general rule, the name is given to the smaller and It is seldom if ever used in connection “ Drilling machine” is ap- plicable to all types, and probably would be accepted as Vertical drilling machines and hori- medium types. with a horizontal machine. the best usage. zontal drilling machines make the necessary distinction. ‘ In referring to the sensitive types, the expression “ sen- sitive drill press” may be preferred by many. No one will dispute the contention that the word “drill” should be wiped out of trade parlance as applied to ma- chinery. The Foundry Pig Iron Trade Hickman, Williams & Co. Hickman, Williams & Co. recently addressed a letter of inquiry from their Cincinnati office to a large number of foundrymen on the condition of the foun- dry trade. The purpose of the inquiry was to draw out the views of those addressed on the cause of the present depression and their suggestions as to a rem- edy for it, and to get a comparison of existing condi- tions with those in the active period of 1907. The firm has favored us with a copy of its digest of the replies, from which the following extracts are taken: To the circular sent out by us on August 2 we have re- ceived something over 700 replies. In some cases answers were made to all the questions asked and in others to but one or more. We have classified these answers as test we could and trust the results will prove as interesting to our correspondents as they have to us. The reasons given in answer to Question No. 1, * To what do you attribute the present depression in the iron mar- ket?” are: 174. Say no opinion to express. 185. Overproduction of iron, 12. General business depression 5. Is no depression. 17. Lack of confidence in business outlook. 25. Too much politics and political agitation. 20. Legislation adverse to railroads and large corporations. 20. Uneertainty of crops and fear of crop failure. 7. General speculation in Wall Street. 15. Price too high. 4. Overpurchases last fall. 26. Undue high prices last fall, bringing about an ill-advised boom, Lack of railroad buying. Inability of railroads to raise money on securities. Railroads staying out of the market to influence legislatior. Automobile craze. Concerted attack on motor industry. Monopoly and special privileges. Lack of confidence in Washington. General dissatisfaction with new tariff law. High wages and high cost of living. Labor unions and unsettled labor conditions. Shortage of reliable labor. Strikes. Personal extravagance. Present small stocks in users’ hands. Competition from people that don’t know their true costs. Unsettled financial conditions. Poor bond market. Tneasiness among Eastern hankers. Shortage of money and tight morey markets. Speculation in iron by dealers and users. Manner in which iron is sold. Lack of competition in iron ore. The replies to Question No. 2, “ What remedy do you suggest?” were not as numerous and are shown under the following heads: — ~ we tons _ NO pou oo bets oto Noho pent August | 1910 18. Good crops. 170. Cut down production, 24. Less political agitation against railroads. 12. Keep politics out of business. Less interference with business by the Governm. Revise tariff downward. Cut out speculative purchases. Change system of coe iron. Sell iron for nearby delivery only. Sell iron for a season ahead. Less trade unionism. Open shops. Cut out Wall Street influence. Send business men, not politicians, to Washingt. Readjustment of cost of labor, material, food and More trust busting. Less trust busting. General economy. Stav on the job. . Wait. . Time and patience. Debs me bS SSNS Sho ro ETT mS Tabulating replies to Question No, 3, “Is your general business as good as it was at this time in 19077” and Qyos. tion No. 4, “Are you melting as much iron as you wore ihen?” we find: 159. Business the same. 202. Business better. 174. Business worse. We find the average increase reported, 27.5 per cent.: average decrease reported. 29.2 per cent. As there are a greater number showing increases than decreases. we find that the iotal net increase is 1.2 per cent. We have also classified the replies according to the sey. eral lines represented and give below summary of reports: 7 Same. More. Less. Total, Machinery and specialties............. 40 43 44 127 Iingines and boilers, pumps, &c 15 42 Stoves, ranges and hollow ware 2f 19 85 Agricultural implements, plows, &c | ‘ 13 63 Cast iron, water and gas pipes........ : i 0 Railroad equipment 3 Soil pipe, sanitary ware and building material 1: . 9 lee Sepa nary eer 3 Jobbing and general foundries.........30 Steel works, rolling mills, &¢ Malleable iron works Totals... Pig Iron Stocks at Steel Works In the editorial in The Jron Age of August 11, page 298, on “ Pig Iron Stock Statistics and Their Value,” the statement was made that “ the figures of stocks at steel works furnaces were never collected even in the days of publicity.” What was in mind was that the! monthly statistics of pig iron stocks published by The lron Age up to the fall of 1905 did not take account of steel works stocks. It should be said, however, that the pig iron stock statistics collected by the American Iron and Steel Association for 30 years preceding 1905 did take account of certain stocks at steel works furnaces. These statistics, which were published annually and for most of the time semiannually, included such stocks of pig iron in the hands of steel companies as were not intended for their own consumption—that is, stocks which these companies expected to sell in the market. In more recent years, as is well known, the steel con- panies have had very little iron to sell, and the foundry iron produced at Bay View, Wis., at a few furnaces owned by Central Pennsylvania companies, and at the Bessemer, Ala., furnaces of the Tennessee Coal, Iron & Railroad Company has been an insignificant percent age of the total product of the companies in question. The important points in the matter are that the steel companies’ stocks of steel making iron for their owt use have never been published, and that in recent years the steel making pig iron production of these com panies has grown to be more than two-thirds the coum try’s pig iron total. a ee The business and manufacturing property of the late Henry E. Pridmore, manufacturer of molding machines, Chicago, has been disposed of in court by the trustees of the estate. Mrs. Emily M. Pridmote, widow of the deceased, and her son, Henry A., are the purchasers. Mrs. Pridmore has assumed active charge of the company. This transaction affects the dispost tion of that portion of the Pridmore estate which was involved in the conduct of the business by the trustees € he he he he on lid for of not cks cet. m- dry ices the ron ent- ion. teel ywn ars om- un the jing by ore, the irge osi- was 18, 1910 The Iron and THE IRON AGE 353 Metal Markets A Comparison of Prices Advances Over the Previous Month in, Heavy Type, Declines in Italics. t date, one week, one month and one year previous. Aug.17, Aug.10, July20, Aug.18, piG IRON, Per Gross Ton : 1910. 1910. 1910. 1909. | No. 2, standard, Phila- oo 00 «alg MeCRnAT elk oe $16.00 $16.00 $16.25 $17.25 | No. 2, Southern, Cincin- . = 6s ade Saas .--. 26.85 14.25 14.75 16.25 ; No. 2, lecal, Chicago... 16.50 16.50 16.50 17.00 B elivered, eastern Pa.... U00 15.25 15.75 17.25 B Valley furmace......%... 14.00 14.25 14.50 15,25 RB er, Pittsburgh. ....2<... 16.15 16.15 1640 16.90 G forge, Pittsburgh......... 14.25 1440 1440 15.15 Lake Superior chareoal, Chicago 18.50 18.50 18.50 19.50 BILLETS, &e., Per Gross Ton: Bessel villets, Pittsburgh.... 24.50 24.50 25.00 24.00 Forging billets, Pittsburgh..... 30.00 30.00 30.00 28.00 Open rth billets, Philadelphia 27.50 27.50 28.50 27.00 Wire is, PICCEDIEOR <c:45 60 40:0 28.06 28.00 29.00 31.00 Steel rails, heavy, at mili...... 28.00 28.00 28.00 28.00 OLD MATERIAL, Per Gross Ton: Stee ils, melting, Chicago... 13.50 13.50 13.00 16.00 Stes ls, melting. Philadelphia 13.75 13.75 14.00 17.00 lt s, ChiGts, Sinica, 16.00 16.50 16.75 18.50 ls, Philadelphia....... 18.00 18.00 18.50 19.75 ( vheels, Chicago........... 144.50 14.50 14.75 16.00 ( vheels, Philadelphia....... 14.00 14.00 14.00 16.00 Heavy steel serap, Pittsburgh. . 14.25 14.25 14.50 16.50 Heavy steel scrap, Chicago..... 12.25 12.25 12.25 15.00 Heavy steel scrap, Philadelphia. 13.75 13.75 14.00 17.00 FINISHED IRON AND STEEL, Per Pound: Refined iron bars, Philadelphia. Cents. Cents. Cents Cents. 1.42%, 1.42% 1.45 1.45 Common iron bars, Chicago... . 1.40 1.40 1.40 1.40 Common iron bars, Pittsburgh. . 1.45 1.45 1.50 1.50 Steel bars, tidewater, New York 1.56 1.56 1.61 1.51 Steel bars, Pittsburgh......... 1.40 1.40 1.45 1.35 lank plates, tidewater, New York 1.56 1.56 1.56 1.56 Tank plates, Pittsburgh....... 1.40 1.40 1.40 1.40 Seams, tidewater, New York... 1.56 1.56 1.56 1.56 Beams, Pittsburgh............ 1.40 1.40 1.40 1.40 Angles, tidewater, New York... 1.56 1.56 1.56 1.56 Angles, Pittsburgh. ......06.0. 1.40 1.40 1.40 1.40 Skelp, grooved steel, Pittsburgh. 1.50 1.50 1.50 1.35 Skelp, sheared steel, Pittsburgh. 1.60 1.60 1.60 1.45 SHEETS, NAILS AND WIRE, Pound: Cents. Cents. Cents. Cents. sh ick, No. 28, Pittsburgh 2.20 2.20 2.30 2.20 W ls, Pitteburghes ike. 1.70 1.70 1.70 1.80 ( s, Pittsburgh......... 1.65 1.65 1.65 1.75 B vire, galv., Pittsburgh*... 2.00 2.00 2.00 2.10 METALS, Per Pound: Cents. Cents. Cents. Cents. Lake copper, New York........ 13.00 13,00 12.62% 13.62% trolytie copper, New York.. 12.6214 12.6214412.25 13.25 Spelte New Zoeeei hit vivens 5.20 5.20 5.20 5.75 Sp St, bowls <.34%h sauce 5.05 5.05 5.05 5.60 Le New Youre pot (tee 4.40 4.40 4.40 4.37%; uA St. Lowhsit'. in wean a 4.30 4.30 4.25 4.25 in, New Yori ci Vek sees 33.85 33.37 33.25 30.02% \ntimony, Hallett, New York.. : 7.95 8.00 8.00 8.12 New Yok. : sacssauvade 45.00 45.00 45.00 45.00 plate, 100 Ib., New York... $3.84 $3.84 $3.84 $3.64 these prices are for largest lots to jobbers. ee Prices of Finished Iron and Steel f.o.b. Pittsburgh slit rates from Pittsburgh in carloads, per 100 Ib.: York, 16c.; Philadelphia, 15¢.; Boston, 18c.; Buffalo, ‘‘leveland, 10c.; Cincinnati, 15¢.; Indianapolis, 17c. ; igo, 18e.; St. Paul, 32e.; St. Louis, 22%4c.; New Or- Oc.; Birmingham, Ala., 45¢c. Rates to the Pacific - ‘ire SOc. on plates, structural shapes and sheets, No. - ‘| heavier ; 85e. on sheets, Nos. 12 to 16; 95c. on sheets, ‘0. /0 and lighter; 65¢c. on wrought pipe and boiler tubes. Structural Material.—I-beams and channels, 3_to 15 i. “uelusive, 1.40¢. to 1.45¢. net; I-beams over 15-im., 1.50c. . het; H-beams over 8 in., 1.55c. to 1.60c.; angles, "In. inclusive, 4 in. and up, 1.40c. to 1.45c. net; over 6 in., 1.50¢. to 1.55c. net; angles, 3 in. on one | legs, less than %4 im. thick, 1.45c. plus full extras steel bar card, effective September 1, 1909; tees, 3 in. ; a 1.40c. to 1.45c. net; zees, 3 in. and up, 1.40. to net; angles, channels and tees, under 3 in., 1.45c., ilus full extras as per steel bar card of September 1, (deck beams and bulb angles, 1.70c. to 1.75c. net; hand rail tees, 2.50c. net; checkered and corrugated plates, 2.50¢. net. Plates.—Tank plates, % in. thick, 64 in. up to 100 in, wide, 1.40c. to 1.45c., base. Following are stipulations pre- scribed by manufacturers, with extras to be added to base price (per pound) of plates: Rectangular plates, tank steel or conforming to manufactur- ers’ standard specifications for structural steel dated Febru 6, 1903, or equivalent, 14-in. thick and over on thinnest edge, 1 = wide and under, down to but not including 6 in. wide, are ase, Plates up to 72 in. wide, inclusive, ordered 10.2 Ib. per square foot are considered \4-in, plates. Plates over 72 in. wide must be ordered 14-in, thick on edge, or not less than 11 Ib. per square foot, to take base price. Plates over 72 in. wide ordered less than 11 Jb. per square foot down to the weight of 3-16-in, take the ro of 3-16-in. llowable overweight, whether plates are ordered to gauge or weight, to be governed by the standard specifications of the Association of American Stee] Manufacturers. Gauges under \-in. to and including 3-16-in. on BS rere re eee $0.10 Gauges under 3-16-in. to and nee No. 8..... 15 Gauges under No. 8 to and including No. 9....... oe Gauges under No, 9 to and including No. 10...... .30 Gauges under No, 10 to and including No. 12..... 40 Sketches (including all straight taper plates), 3 ft. SI OE SE URE. oc chk tia Cake ap Eke ee > 10 Complete circles, $3 ft. diameter and over......... .20 Bofler and flange steel... .. 0... ccc serccescivers -10 “A. B. M. A.” and ordinary firebox steel......... .20 CARTS NI a a 6. 60-44 65. U8bre 0 Oey de Re Od .30 Se NE a 55-6 50 windn's 4 0 2.AW 4 a0 640 ODO A .40 Locomotive firebox steel... .....c0 cece eee eceees 50 Widths over 100 in. up to 110 in., inclusive...... .05 Widths over 110 in, up to 115 in., inclusive...... 10 Widths over 115 in. up to 120 in., inclusive...... 15 Widths over 120 in. up to 125 in., inclusive...... -25 Widths over 125 in. up to 130 in., inclusive...... 50 Weeeeee OVOE D00 e ie ce eee eh be ck dw ee teen 1.00 Cutting to lengths or diameters under 3 ft. to 2 ft., SRN, osha 5 wanes wade 0 6 vines ew he eins Mae .25 Cutting to lengths or diameters under 2 ft. to 1 ft., DECUNVR seid 3 Oe <0 Merde ees UEC 6 b hplieceMees of 0 Cutting to lengths or diameters under 1 ft....... 1.55 No charge for cutting rectangular plates to lengths 3 ft. and over. TerMs.—-Net cash 30 days. Sheets.— Makers’ prices for mill shipments on sheets in carload and larger lots, on which jobbers charge the usual advances for small lots from store, are as follows: Black annealed sheets, Nos. 3 to 8, 1.70c.; Nos. 9 and 10, 1.75c.; Nos. 11 and 12, 1.80c.; Nos. 13 and’ 14, 1.85¢.; Nos, 15 and 16, 1.95e. Box annealed sheets, Nos. 17 and 21, 2.05c.; Nos. 22 to 24, 2.10c.; Nos. 25 and 26, 2.15c, to 2.20e.; No. 27, 2.15¢c. to 2.20c.; No. 28, 2.20c. to 2.25c.; No. 29, 2.25¢. to 2.30c.: No. 30, 2.35¢c. to 2.40c. Galvanized sheets, Nos. 13 and 14, 2.50c.; Nos. 15 and 16, 2.55¢.; Nos. 17 to 21, 2.70¢.; Nos. 22 to 24, 2.85¢c.; Nos. 25 and 26, 3c. to 8.05c.; No. 27, 3.10c. to 3.15¢e.; No. 28, 3.30c. to 3.35c.; No. 29, 3.45c. to 3.50c.; No. 30, 3.65c. to 3.70c. Painted roofing sheets, No. 28, $1.65 per square. Galvanized roofing sheets, No. 28, $3 per square, for 2%-in. corrugations. Wrought Pipe.—The following are the discounts on the Pittsburgh basing card on carloads of wrought pipe now in effect : -——Steel.——. ———-Iron.——~, Black. Galv. Black. Galv. 7 66 A gee Me Raa es ekki Saou 70 54 as ee ro Pepe 71 57 67 53 ? a ok Sia sk wie & hk Ade ae 74 62 70 58 OPO Ms cas pvc saw ee eer ED 78 68 74 64 TR BE BOG oh Riera nies gS 72 57 68 53 Plugged and Reamed. E00: 46 Oe 6 oss nscc cus nve cts eee 76 66 72 62 Extra Strong, Plain Ends. Mt Mh BA He's Bin Tet R 63 51 59 47 Bh OO QBS ilk oi eee iat e ede 70 58 66 54 Se ty BS hres decchetwes 66 54 62 50 9, 10, 12 ad 16 Te fievickde es 54 42 es ‘s Double Extra Strong, Plain Ends. BM 00 BIA, 0. 0.0:4)6 09 dee by drs tthe 59 48 55 44 The above steel vipe discounts are for “ card weight,” subject to the usual variation of 5 per cent. Boiler Tubes.—Discounts on lap welded steel and char- coal iron boiler tubes to jobbers in carloads are as follows: Steel. Iron. 9 1% 1 Gat éviioe #6 RSA ed oe 0 eee cee = = Oe Fak Wh a.c .c cesses, 0.4 pe eene eee eee we te ee 63248 BGs BOD Biles bc cnt be ob bb ste a6 004 ahs che dee 69 BS O20 Se Who kiddies steed i deans os Ca ee 43 2% in. and smaller, over 18 ft., 10 per cent. net extra, 2% in. and larger, over 22 ft,, 10 per cent. net extra. Less than carloads to destinations east of the M River will be sold at delivered discount for carloads lowered two pointe, for lengths 22 ft. and under; longer lengths, f.0.b. Pittsburgh. Wire Rods.—Bessemer rods, $28 to $28.50; open hearth and chain rods, $28.50 to $29. Steel Rivets.—Structural rivets, %-in. and larger, 2.15¢., base ; cone head boiler rivets, %-in. and larger, 2.25c., base; %-in, and 11-16-in. take an advance of 15c., and and 9-16-in. take an advance of 50c.; in lengths shorter l-in. also take an advance of 50c. Terms are 20 days, net cash, f.o.b. mill. lsar ae a Soa ls we oR ANT A OT EN OR! As we See aD en ib aslo lpihe “mam oe on x FEC RE OTR THE IRON August 18. AGE THE IRON_AND, METAL MARKETS Pittsburgh ParK BuiLpine, August 17, 1910.—(By Telegraph.) Pig Iron.—No important transactions in Bessemer are reported, and the market remains quotable at $15.25, Valley furnace. A sale was made of 1000 tons with a particular analysis, for which a premium of 25c. was paid, making the price $15.50. Another sale of 800 tons, September to De- cember, inclusive, was made to a steel casting company under special conditions. A sale of 1000 tons of basic was made to a consumer for early delivery at $14, Valley furnace. Sev- eral sales of forge have been made at prices under those lately quoted, the most important being 5000 tons to a Pitts- burgh consumer for delivery over the remainder of the year at $13.35, Valley furnace, or $14.25, Pittsburgh. One of the two Hubbard furnaces will blow out this month for relining, the other remaining in blast indefinitely. We quote at Valley furnaces, 90c. higher delivered Pittsburgh : Bessemer, $15.25 ; basic, $14; gray forge, $13.35 to $13.50; No. 2 foundry, $14.25; malleabie, Bessemer, $14.50. Steel.—Makers report a slightly better inquiry for bil- lets and steel bars, but actual sales have been light and min- imum prices are not quotably changed. We quote, f.o.b. maker’s mill Pittsburg, Wheeling or Youngstown districts: Bessemer billets, $24.50: Bessemer sheet bars, $25.50; open hearth sheet bars, $26.50 to $27; forging billets, $30. Wrought Pipe.—No important line pipe business has been placed, but a large aggregate of small inquiries is being figured on. Because of the continued idleness of a majority of the puddling furnaces iron pipe has become relatively scarce. Prices are absolutely maintained. One producing interest has practically withdrawn its quotation, while an- other producer has been inquiring for muck bar in the open market. (By Mail.) .On the whole the iron and stee! market is still phenom- enally dull, but slight evidences of improvement are noted here and there. Thus a large steel interest finds its specifi- cations and new orders so far this month make a slightly larger total than in the same portion of July. The tone of the market appears slightly better, prices not yielding to the dullness as might be expected. The most striking feature of the situation is obviously the large tonnage of material which is moving from furnace and mill to consumer, despite the market stagnation; while production has shown a slight fur- ther decrease since the beginning of the month, for months past the trade has been surprised at the way in which the tonnage keeps up. Buying, of course, is only from hand to mouth, and even in wire products, where the tonnage on books had dropped to a minimum, there is scarcely any buy- ing for the fall trade, although buying for current require- ments makes a fair total weekly. Some hopes are expressed that the progress being made in rate adjustments, whereby the railroads will be allowed to make some advances, will result in heavier orders-in the near future, but these hopes are not general, the usual opinion being that little buying can be expected from the railroads until after the elections. In ears the railroads are still due to absorb a large tonnage of steel this year, as the two leading car builders are under- stood each to have about 10,000 cars on their books, sufficient to maintain full operations at 100 cars each daily until the end of the year. The Pittsburgh Steel Company on Satur- day closed its steel and wire plant at Monessen for repairs, to open September 1. The plant was closed June 30 with the expectation of being down during July, but started after a few days. The wage matter between the independent pud- dling interests and the United Sons of Vulcan has not been settled. The Amalgamated Association has not adopted any fresh policies following the per capita vote to continue the strike against the leading sheet and tin plate interest, and this situation presents no new features nor any that are of in- terest to the market. Ferromanganese.—Inquiry continues light and prices are maintained at the previous level, $39 to $39.50, Balti- more, for prompt delivery, Ferrosilicon.—While the inquiry continues fairly good, transactions are not heavy. We quote 50 per cent. ferro- silicon at $57.50 to S58, delivered, Pittsburgh, and blast furnace ferrosilicon as follows: $23 for 10 per cent., $24 for 11 per cent. and $25 for 12 per cent., f.o.b. Jisco and Ashland furnaces. Rods.— With little inquiry, prices are $28 to $28.50 for Bessemer and $28.50 hearth, Pittsburgh. Skelp.—New buying in skelp is limited, and quoted prices are not severely tested. Specifications are fairly good and a large tonnage is moving on old contracts. We quote unchanged, at to $29 for open for ordinary widths and gauges: Grooved steel skel), to 1.55c.; sheared steel skelp, 1.60c. to 1.65¢.; groo, skelp, 1.80c.; sheared iron skelp, 1.90c., all f.o.b. mi] burgh. Steel Rails.—Buying is restricted and the rail ket presents no interesting features. We quote standard s ions of Bessemer rails ‘at $28, mill, and light rails as f0\\,ws- 8 to 10 Ib., $382; 12 to 14 Ib., $29; 16, 20 and 25 I), gag. 30 and 35 Ib., $27.75, and 40 and 45 Ib., $27, Pitts \urgh, We quote steel axles at 1.75c. to 1.80¢. and splice }.rs at 1.50¢., at mill. Structural Material.—New business continues 0 s,nq)) volume and prices on fabricated material hardly |: the fabricator out, when paying 1.40c. for plain shapes. The shops are fairly busy with work which will keep them two or three months. We quote beams and channels, 15-in. anq under, at 1.40c, to 1.45c., Pittsburgh. Plates.—As noted above, the two largest steel car build- ers are practically filled with work to the end of the year. while the smaller interests have a fair amount of business on books, so that plate deliveries to this class of consumers promise to be well maintained. As much cannot be said‘of the lake shipbuilding trade, prospects in which are poor be- cause with the largest freight movement on record many boats are tied up. Mills making a full range of sizes main- tain 1.40c. as a minimum quotation, and occasionally obtain 1.45¢e. on less desirable business, while occasionally smal] mills making only a limited range of sizes cut the 1.40¢. price by 50c. or $1 a ton. Sheets.—The shading on galvanized sheets has _ jp- creased slightly in the past week or 10 days, and in most cases reaches $5 a ton, making galvanized sheets 3.2h5c. while black sheets are quotable regularly at 2.25c., or $38 a ton off the nominal price, although 2.20c. is occasionally done. Corresponding shading is done on corrugated mate- rial, nominal prices for which are $1.70 a square on painted and $3 a square on galvanized, 28 gauge. Tin Plate.—While the general per capita vote of the Amalgamated Association, announced last week, was in favor of continuing the strike against the leading sheet and tin plate interest, the vote at the La Belle tin plate plant at Wheeling was in favor of calling it off, the Aetna-Stand- ard sheet plant and the Martins Ferry tin plate plant, the other two of the three Wheeling district plants which are idle, being in favor of continuing it. Mills continue behind in tin plate deliveries, although there is relatively little new business, and the present production rate promises to continue indefinitely, as all producers are booked far ahead. The market is absolutely firm at the regular price of $3.6), Pittsburgh, for 100-lb. cokes, premiums up to 15c. per box being sometimes paid for small lots for quick shipment. Bars.—New business in both steel and iron bars is ex- tremely light, but specifications continued good on steel bar contracts. The mills continue to maintain 1.40c. as the absolute minimum on steel bars, and on less desirable busi- ness frequently obtain 1.45c., while one important producer just east of Pittsburgh is maintaining 1.45c. as a minimum. We continue to quote iron bars at 1.45c. to 1.50c., Pitts- burgh. There is practically no puddling being done in the Pittsburgh district on account of the scale disagreement with the Sons of Vulcan, but some finishing departments in the mills are running. The valley and other iron mills of the Republic Iron & Steel Company are running, but not at full capacity. Spelter.—The market has stiffened by producers mark- ing up prices, although demand has ‘been relatively light. We quote 5.12%4c., East St. Louis, or 5.25c., delivered, Pitts- burgh. Hoops and Bands.—The leading interest is operating practically all its hoop mills, chiefly on old business, neW buying being comparatively light. We quote hoops at 1.50¢c. to 1.55c., and bands at 1.45c. to 1.50c., the latter with extras on the steel bar card. Spikes.—The new demand for spikes is light, and, while old contracts have been well specified against right along, there is not a great deal of this business left. We quote standard sizes of railroad spikes at 1.50c. to 1.55c. for West- ern shipment and 1.55c. to 1.60c. for local trade. Some pro- ducers refuse to go below 1.55c. on any business, but 02 really attractive business it is not certain that even 1.50e. would not be shaded by some producers. We quote smal] railroad and boat spikes at 1.60c. to 1.65c., base, for carload and larger lots. Rivets.—Very little new business is being placed. Official prices, which are sometimes shaded on desirable business, remain at 2.15c. for structural rivets and 2.25¢. for boiler rivets, f.o.b. Pittsburgh. Shafting.—Specifications on old contracts for shafting continue good, except from the automobile trade, while pew business is light. Regular discounts en shafiing are 5 pet cent. off list in carload and larger lots and 50 per cent. off es ee i | -t 18, 1910 THE IRON AGE 355 THE IRON AND METAL MARKETS lots, delivered in base territory. For desirable tions the ecarload price of 55 per cent. off is some- aded by an additional 5 per cent. \ire Products.—Buying of plain and barb wire and fairly good, but represents only the meeting of im- requirements, there being very little ordering for lar fall trade. We quote galvanized barb wire at ted, $1.70; annealed fence wire, $1.50; galvanized, vire nails, $1.70, and cut nails, $1.65 to $1.70, in ind larger lots, all f.o.b. Pittsburgh, freight to dosti mn being added. Merchant Pipe.—Since the large orders for line pipe, re- ent aced, little has been done in this grade, and mer- pe is also slow, as some of the jobbers still have ynsiderable stocks. ‘The mills are holding prices very firm rchant steel pipe, while wrought iron pipe discounts fairly well maintained, Boiler Tubes.—The demand for boiler tubes has shown slig lecrease in the past week or two, and regular dis- sunts continue to be shaded. Coke.—The new demand for coke has been light. Contract- » for ‘oundry coke has fallen off, and there is no interest e coke contracts, Small prompt lots continue to mmand full prices, there being little coke pressing on the market, Production and consumption appear to be well balanced. The Connellsville Cowrier reports the weekly pro- ln 406,505 tons, a decrease of 3000 tons from the Yo RR > tc -¥ re yrevious week. The average since May 1 has been about 1),000 tons weekly. We quote standard grades of Connells- oke at $1.65 to $1.70 per net ton, at oven, for prompt rnace, $1.75 to $1.85 for contract furnace, $2.15 to $2.25 for prompt foundry and $2.25 to $2.50 for contract foundry. Iron and Steel Scrap.—lIt is understood that very little eavy melting steel was due at Monessen when the largest plant at that point shut down last Saturday, and its closing itil September 1 will hardly bear the market. Very little is being done in the serap market, and we quote prices sub- stantially unchanged, as follows, per gross ton, Pittsburgh: Heavy steel serap, Steubenville, Fol- lansbee, Sharon, Monessen and Pitts- burgh GeRWOR ese ad ics sae ta bono bee $14.25 to $14.50 Ne. 1 founGey Seager canta ckwcereie cs 14.00 to 14.25 No. 2 foundry’ CMB iis Sao vets 138.00 to 13.25 sundled sheet scrap, at point of ship- MENT .... cwiesigs $44.0 emilee. ve aitviely 0 9.75 to 10.00 Rerolling rails, Newark and Cambridge, Ohio, and Cumberland, Md......... 15.75 to 16.00 No. 1 railroad malleable serap........ 13.75 to 14.00 Grate Daf@..:« abane anes an db ees ae 10.75 to 11.00 Low phosphorus melting stock........ 18.00 to 18.50 Iron cal GQEMMEP Cr sie sess ete ede eee 21.00 to 21.50 @ Ss LP ORM pig i hte Se Ce 19.00 to 19.50 I LOCI VG MICS di o.« oe ho bk aoe bene aie 25.00 to 25.50 No. 1 busigiWeee POR osc, x ak a ures s 12.50 to 12.75 No. 2 busheMie Mereapsci seb... eewidan 8.50 to 8.75 Old car WHGIIEA stacks conan eke oes 14.00 to 14.50 Sheet bar ClOR GMMR. «<0 iss ledudawane 16.00 to 16.25 Cast iron ORURMIR icc ba zh ewes Cae T.50to 7.75 Machine shep turnings.............0. 9.25 to 9.50 Phe Whitney-Kemmerer Company, Oliver Building, Pitts- rgn, has been appointed sales agent for Pittsburgh and nity by the Dunlap-Connellsville Coke Company, Con- S\ Pa. Chicago ViSHER Bumping, August 17, 1910.—(By Telegraph.) . e is little improvem