The Iron Age 1910-08-25: Vol 86 Iss 8

Eetabii } 18 = oOo Philads Pittst Bost: Mids Work rw ns Published Every Thursday by the DAVID WILLIAMS COMPANY 14-16 Park Place, New York red at the New York Post Office as Second Class Mail Matter. tion Price, United States and Mexico, $5.00 per Annum ; ; to Other Foreign Countries, $10.00 per Annum. Single Copies, 20 Cents. TREASURER ANO GENERAL MANAGER MECHANICAL EDITOR Branch Offices hia, Real Estate Trust Building Chicago, Fisher Building Cleveland, American Trust Building Cincinnati, Second N’t'l Bank Bldg. Milwaukee, 1417 Majestic Building. Waiting Market iriff Agitation in Three Countries. .............6+5+ r Blast Furnace Capacity Extravaganee Representing Real Loss mmer Canadian Pig Lron Statistics ng Hours 60 Years Ago. Illustrated............... ind Metal Market Reports................ 409 to 418 y Market Reports Figures Of Sealtecuessnevateeetacésannva suena all Engineering Company’s New Yards.......... BB e eee ee eee eee eee ee eeaeee Tron & Stee! Company Improvements........... 432 Louls Car Company’s Affairs... ...........cceeee in Plow Company’s Bonus System Canada and the Steel ‘Duties z the Lake Ore Output Cincinnati Cone-Driven Miller. arth Furnace Construetion: ngstelet Shock Absorber for Tungsten Lamps. \djustable Sheft Bearing. le Mannfacturers’ Drilling Machines. ird 12-In. Engine Lathe. nne Oxygen Melting Proecess............ - Illustrated. 440 a Chain Company’s New Plant ne Company’s Fifty-fifth Anniversary roved Absorption Dynamometer. ‘k Meeting of the Amorican Iron and Steel Institute 447 ‘rain Resistance. ‘ep Molding Fixtures. Illustrated steel Casting Plant for Pittsburgh lraulie Clutch Drive. Illustrated fools and Appliances ' Metal Prices... eee eee ee eee eee eee ete wee eee ee VoL. 86: No. 8 A Waiting Market A More Cheerful Tone Becoming Perceptible While actual business shows little improvement, a notably better feeling pervades the market on finished products. A more cheerful tone is perceptible in the reports received from every section. Inquiries are becoming more numerous, indicating that the usual improvement to be expected in the fall months is at hand. Specifications on contracts are good in all fin- ished lines and special pressure is observed for deliv- eries of rails. Stocks of manufactured products are being reduced throughout the country and must shortly be replenished. Prices of all finished steel products are firm, except, perhaps, light sheets, even though new business is not active. A turn for the better is manifested in structural material, both plain and fabricated. It is asserted with apparently good foundation that structural contracts cannot now be placed as low as two weeks ago and that buyers who were waiting for still lower prices have lost their opportunity for this fall at least. It is announced that bids for the. Quebec Bridge, which may require 75,000 tons of steel, will be opened Octo- ber 1, instead of September 1. Competition on this work will be sharp, but it is hoped that the contract will come to American manufacturers. So far as the volume of new business is concerned, the wire trade stands first. This is the season for the sale of wire products, and the demand is excellent. Tu- bular goods come second best on the list. The leading interest has just taken contracts for 35 miles of 18-in., 25 miles of 20-in. and about 25 miles of 16-in. line pipe, while the general demand is excellent. The tin plate mills, with the exception of those closed by labor trou- bles, are running to full capacity, but largely on old orders. Sales of pig iron have heen light, but inquiries are now being received in the Pittsburgh and Chicago mar- kets for considerable tonnages. Consumers are begin- ning to show more interest in covering their require- ments up to the first or second quarter of next year. It is understood that the very large inquiry from a West- ern agricultural implement manufacturer which ap- peared in the market some time ago and was then withdrawn has been renewed. Furnace companies are not disposed to sell much pig iron for forward delivery at present prices, as there is little or no margin of profit on such sales. The fact that prices are now down to cost or below it is indicated by the stubbornness shown against further recessions for the past two or three weeks. It must be admitted, however, that there seems to be faint chance of higher prices while stocks of pig iron in furnace yards con- tinue as large as at present. The blowing out of more furnaces would certainly help the situation. The coal situation in Illinois is beginning to concern among manufacturers and other mk SR. A EE hc: te ae poate sietalaetne ts kee Eee) ee SO ete we a tl tie p ’ | SSP a TA, A AR AOS NNT MP TE en, ene ae , AERO A mt Ts 9 dl BOTN Ss BEART, LS wae, a es + EE Gee MCTES Ley, : = Oe NNR QR YL ED * wie 7 FE os Sat - . Sie Rane ‘= . > Oecd Es she BEE TL PE LES. Fiz ‘whee achat: a v Nee se A een ae ae , La 5. mg pene’ toed ¥ ? as eels Sah Pa I ee aes Pits 3 ne 406 THE buyers of Illinois coal. The mines of that State, which normally produce over 50,000,000 tons annually, have been closed since April iby a disagreement over coal miners’ wages, and there seems to be no hope of an early settlement. Winter is approaching and the large production of [Illinois will then be imperatively needed. Iron ore shipments down the lakes are falling off still further and more vessels are being ijaid up because there are not enough cargoes to go round. Scarcity of water has caused some inconvenience at Youngstown, Ohio, and for this reason reports of the closing of mills there should not be taken to mean lack of business. Cessation of operations would mere- ly be temporary, awaiting the accumulation of a bet- ter supply. Copper is in less active demand and prices are therefore not so strong, but efforts by buyers to shade recent quotations have not met with much success. Spelter is firmer, as producers seem to have the situa- tion well in hand. Tariff Agitation in Three Countries Simultaneously, the tariff question is being brought to the front in Germany, Canada and the United States. In each country an agitation in favor of lower duties, much more pronounced than the work regularly car- ried on by free trade organizations, is now command- ing attention. It seems but a short time since highly protective duties appeared to have been accepted as a correct national policy by the civilized world, and even Great Britain was looked upon as likely to fall in line. The nations which have revised their tariffs in recent years have not to any extent thrown open their home markets to their foreign competitors. On the contrary, care has been taken to provide even greater defense in tariff protection when an industry seemed to be in any need of it. But there has been a somewhat sudden re- vulsion of feeling in regard to this matter, especially in the three countries named. The movement in Germany is characterized as a “ revolt against protection,” the protective policy being held responsible for the control of the leading industries by syndicates. We have large consolidations in the United States, and probably in some branches of trade we have combinations controlling output and prices, but at no time in our history were trade combinations so numerous and powerful as they have for years been in Germany. The latest returns regarding German syndicates show a total of 385, of which 19 cover the coal trade, 62 the iron and steel trades, 11 the metal industry other than iron, 46 the chemical industry and 31 the textile industry. These syndicates have exerted a powerful influence in the maintenance of domestic prices and in steadying trade by the allotment to each member of a specific share of it, but in addition they have performed a useful function in stimulating the German export trade by a system of bounties paid out of a fund provided for that purpose by each syndicate. These bounties are regulated according to the condi- tion of trade at home and abroad, being increased when home trade falls off or foreign prices decline, but di- minished when home trade is good or foreign prices rise. There are, however, numerous German industries dependent upon the syndicates for their supply of ma- IRON AGE August 25, ; terial and it is largely from these industries th. demand comes for a reduction of tariff duties. claim that the duties enable the syndicates to raise prices unduly, thus compelling outside industries too much for materials which they use for th: duction of articles that must be sold at prices pr. ing in the world’s market. They further clain their competitors in other countries are often the ficiaries of the bounty system on exports whi-| maintained by the syndicates, thus securing Ge: material cheaper than it can be bought in Germa: making competition in neutral markets much nore severe than it would be otherwise. These smaller Ger. man manufacturers therefore assert that their condi- tion is worse under protective duties than it would be under free trade. The Hansa League, which is work. ing for “equal opportunities and rights for the com- mercial and industrial classes,” is stated to be organ- ized in 450 branches and 22 State federations and num- bers among its members no less than 220 important commercial associations. The movement is formidable one. In Canada dissatisfaction with protective duties has always existed among the farmers. Agricultural asso- ciations have seldom met without adopting as part of their proceedings resolutions against bounties and the tariff on manufactured products. The Canadian Gov- ernment has grown accustomed to this. But in recent years a new country has been developed in the North- west, the population there is growing rapidly, and from that section comes a demand for lower duties which is far more insistent and aggressive than the deliverances of the agricultural associations. The people of Mani- toba, Saskatchewan and Alberta have given Sir Wil- frid Laurier some uneasy experiences during his trip through those provinces when they urged him to give the country a lower tariff and to establish closer trade relations with the United States. This year they are suffering from short crops and regard high prices for manufactured articles a grievance. What they espe- cially desire is cheaper agricultural machinery, but they would also like to get other things cheaper. The Pre- mier declared his Government ready to enter into reci- procity with the United States in natural products. This would cover grain, fish, coal, farm products and possibly pianos and wagons. But they reminded him that the United States tariff law provides for the free admission of agricultural implements from countries granting free entry to American farm implements and urged him to take advantage of this provision. He re- plied that if the Americans are willing to show their good faith by agreeing that the reciprocal arrangement shall extend to parts ordered for repairs, he would gladly enter into such a compact. It is unlikely, how- ever, that the Canadian Northwest will be appeased by this concession, if it should be secured, but will press for further tariff changes. In this country we have the unique development of a demand for a more radical revision of duties coming from members of the political party responsible for the revision enacted into law only a year ago. The opposition party always attacks vigorously a new tariff, but this is perhaps the first instance in our his- tory of such a demonstration by important members of the dominant party. While the demand comes mainly from the West, the movement has some influential sup- porters in the East. As the insurgents claim that they thus a are it) ‘avor Of a reasonable degree of protection to Amet products, it would seem to be a battle over rates not a contest as to principles. Our Blast Furnace Capacity \merican Iron and Steel Association, in its of August 15, gives most important details o new blast furnace construction. These sta- ow the vigorous manner in which the iron t the demand for increased blast furnace ca- pacity, which was such a conspicuous feature of the s of 1906-7. It will be recalled that the con- demand for pig iron was at that time so much ex of the output of domestic blast furnaces, then o their highest efficiency, that it was necessary t considerable quantities of pig iron. From ' I, 1907, to June 30 of this year 35 blast furna with a total annual capacity of 4,468,000 gross tons, were completed, while in that same period i2 furnaces, with a capacity of 287,000 tons, were | or dismantled. This shows a net increase in f 4,181,000 tons. remendous addition to the blast furnace capac- country would certainly be more than ample equirements of the trade, if not another fur- to be built for some little time. The impetus ocd times of 1906-7, however, was not ex- y June 30 last, but at that time 16 more fur- aces, with a total annual capacity of 2,083,500 tons, were in course of erection, of which two have since wn in, having a capacity of 282,500 tons. In September three more are expected to be ready for and another before the close of 1910, while nder of these furnaces in course of construc- c ready for operation in 1911, some of them in that vear. | Manager James M. Swank of the American | Steel Association puts the approximate live f blast furnaces, June 30 last, at 38,144,900 ose which were expected to be completed in nder of this year are estimated to have a i 728,500 tons. The approximate live capac- nd of r91t is placed at 40,228,400 tons. lificult, indeed, to forecast the future of the iron trade. At various times, after even riods of depression, the consumption of pig s country has advanced by leaps and bounds, even the most sanguine by its tremendous ‘ instance, from 1903 to 1905 there was a gain ption of nearly 5,000,000 tons, the intervening |, having been a period of depression. It . however, that our blast furnace capacity ll be sufficiently great to meet the require- the country much better than after any pre- ‘iod of increased furnace construction. The ited States was during the latter part of 1909 in 1910, when for a brief time the consump- red to be running close to the production. At the output of all kinds of pig iron was quite ned for a few months at the level of about tons a year. Consideration of these figures icate to pig iron consumers a quite comfort- in of furnace capacity to meet the require- <panding trade. el of consumption of pig iron ever attained | August 25, 1940 THE IRON AGE 407 Extravagance Representing Real Loss It is easy to throw the blame for something on the shoulders of the other man. For instance, a banker in discussing the apparent lack of capital for investment in bonds and other securities will name among the causes the general extravagance of the people, and will, perhaps, enumerate as one of the most deplorable examples of extravagance the widespread purchase of ~ automobiles. After delivering himself in this way he will betake himself to Europe and will probably spend from $1000 to $5000 on his little summer outing. Now, if men of this kind seriously believe that in- dividual extravagance is much to blame for the indif- ferent market for bonds and other securities, they should begin with their own personal extravagances and cut them down, especially those which represent a complete loss to the country. The cost of a trip abroad is so much money absolutely withdrawn from the United States. No part of it comes back here in any way, shape or form. The abused purchaser of an au- tomobile, however, will probably buy an American ma- chine, which represents in its entirety money paid out to American purchasers of materials and to American labor, and, therefore, means the distribution of this money through various channels of home trade. Part of the amount represented in the purchase of an auto- mobile must lodge somewhere along the line in the hands of a person who will save a portion of it for investment. There are certainly other methods of spending money which mean a greater loss to the coun- try as a whole than the purchase of automobiles or other American-made luxuries. —_9+-e—_—— Midsummer Canadian Pig Iron Statistics The American Iron and Steel Association has re- ceived direct from the manufacturers statistics of the production of pig iron in Canada in the first six months of IgI0. Total Production.—The total production of all kinds of pig iron in the Dominion in the first half of 1910 amounted to 376,271 gross tons, as compared with 327,449 tons in the last half of 1909 and 349,641 tons in the first half. This is an increase of 48,822 tons as compared with the last half of 1909 and of 26,630 tons as compared with the first half. The production in the first half of 1910 was the greatest in any half year. Classified Production—The production of Besse- mer pig iron in the first half of 1910 amounted to 129,208 tons, against 69,906 tons in the last half of 1909 and 99,639 tons in the first half of that year. The production of basic pig iron in the first half of 1910 amounted to 165,984 tons, against 192,853 tons in the last half of 1909 and 165,112 tons in the first half. Furnaces in Blast—On June 30, 1910, Canada had 16 completed blast furnaces, of which 12 were in blast and 4 were idle. Of this total 12 were equipped to use coke and 4 to use charcoal. In addition 3 coke furnaces were being built and 1 coke furnace had been partly erected and its construction indefinitely sus- pended. New Furnaces—The Dominion Steel Company, Sydney, Nova Scotia, is erecting a fifth blast furnace, to be 20 x 85 ft., which will probably be ready for blast in March, 1911, and will have an annual capacity of about 100,000 tons of basic and foundry pig iron. The Algoma Steel Company, Sault Ste. Marie, On- tario, expects to have its third furnace completed and ready for blast in December, 1910; it will be 21% x go ft., and will have an annual capacity of about 150,- ea areata een tnaieiint ete eaaeee Afi thay aan Tait e e a e CA RN ae ARE AO tb Ce I BER ee pepe Pe Ro autor ir NS: we 2 a ne Pe ape war eae © tees Bua 9 MO tN oe a er a, Mirai Nii Me Crete ~— Ny AO YS 8 8 A ACE eC ET NB Se ee beniess = ~~ 7 . ‘ a ue! Shite - = : Feo 2 bs ial The AE Bett ois 4 Sake . Sia atin SS ar ‘ : — Me Acta 4: tlh ee , eps oi Pee ETS OR ie eo ey OUR PEE ds iselichas SARS RNRIN bi SRR ROIS OES Se _ A wad “pio vernates x ae a). tee 0; , : 4 a r ;: <e pai sa The Hy oat oa agpt 3 - . a $ i « Ht 7) RRO SRS a ety i aie en if | eo 7 z 408 000 tons of Bessemer and basic pig iron. The Canada Iron Corporation is adding a second blast furnace to its Midland plant, at Midland, Ontario, which will be 17% x 75 ft., will have an annual capacity of 90,000 tons, and is to be ready for blast this month. Working Hours 60 Years Ago The Schedule of Lucian Sharpe, Founder of the Brown & Sharpe Mfg. Company, When He Began Work in 1847 The schedule of working hours shown herewith was that of Lucian Sharpe, one of the founders of the Brown & Sharpe Mfg. Company, Providence, R. L, and gives the hours of labor which were required of ee Be M59 7 fee untK. len gd i The turn Saw. Fed Sicwrcai March 126 Zot Mack 204% Apr. 30% |Sunrcese May, Jicne, aucl July GIS Auy. /£b 16% Ay Ist % Sepe.20% \Suuts Sept 2024 Oct. 30% |Sautis« Nov. aud Dee. Sancye Surnkres 2 WS Winkel THE IRON AGE Yrovdene Machine Com August 25. i910 were the hours of daylight. Apparently, artiti-ja| j). lumination was practically unknown. If employed a all, it was wholly inadequate. “Sanitary conditio:.. were not good when considered by modern standar:s. [py the winter shops were heated by wood burning and only a small proportion of the factory flo came within the zone of comfortable- warmth dows were small, and except during times of s! sunlight men worked under a strain as regar. eyes. The Providence Machine Company n tured cotton machinery, and doubtl&s its schedule was made to conform to that of the cotton mills. Hours of industrial employment generally were fashioned op those of the farm. A comparison of wages is hardly possible. To-day men receive considerably more money for a shorter period of work, but the buying power of money was very different then than now, and the wants of work- toves, space Win- ngest their nufac- pays Time Regulatven. ‘ Bellis BL Bling Live MN a for Pe lard Soc fot fer delial Coades ie Vegi Z A cana Olrweornre to cool Breakgast beste paiedkch neung worth Mos Dee. Ja. Rae ° him when he was employed by the Providence Machine Company in 1847-48. The original, in the handwriting of Mr. Sharpe, now hangs in the office of his son, the present treasurer of the company. No stronger com- mentary could be made of the extraordinarily rapid evolution in industrial conditions which has character- ized the last 60 years. The twentieth century employee of any machine shop would stand aghast were he asked to work such hours. Only upon a farm would they be tolerated. Not only was the average of hours of actual employ- ment very high, but the total time consumed from the hour of beginning labor in the morning until the hour of closing at night covered practically all of each day. No period of recreation was possible. A man had little time except that required for labor and sleep. To begin work before 5 o’clock in the morning, as was the case in May, June and July, and end it at nearly 7 o'clock in the evening meant close to 14 hours, during which, the workman was away from his home except during the brief intervals for meals. The only limits men were much simpler’ and less expensive. Their savings brought them a much larger percentage of in- come. Nevertheless, the comparison is highly in favor of the employee of the present day, because, while he spends a good deal more money, he lives in far greater comfort than his predecessor of the middle of the nine- teenth century. His investments may net him a smaller dividend, but he is able to do very much more for his dependents. In a vast number of cases his children are educated to be much more important factors in industry than he is, for they are given advantages of education which he did not have. From the standpoint of longevity and comfort and pleasure, the conditions sur rounding his existence are immeasurably better. He shares with his employer a daily period of leisure. In many cases the hours of daylight which are his ow? are devoted to tilling a little farm in the country oF @ garden in the city. When criticism is heard of isolated cases where hours of employment are long, it is we to hark back to the time when every man worked long as or longer than the exceptions do to-day. A Comparison of Prices es Over the Previous Month in Heavy Type, Declines in Italics. date, one week, one month and one year previous. Aug.24, Aug.17, July27, Aug.25, PIG IRON, Per Gross Ton : 1910. 1910. 1910. 1909. Foul No. 2. standard, Phila- roul = Advan $16.00 $16.00 $16.25 $17.25 at 02 6 O00s then ei Raaene 44.25 14.25 14.75 16.75 Foun No. 2, local, Chicago.. 16.50 16.50 16.50 17.50 Basic, iclivered, eastern Pa.... 15.60 15.00 15.50 17.50 Basic, Valley furmace.......... 14.00 14.00 1450 15.25 Bessemer, Pittsburgh.......... 15.90 16.15 16.40 17.40 Gray rge, Pittsburgh........ 14.15 14.25 14.40 15.65 Lake Superior charcoal, Chicago 18.50 18.50 18.50 19.50 BILLETS, &e., Per Gross Ton : Bess¢ billets, Pittsburgh.... 24.50 24.50 24.50 24.50 Forging billets, Pittsburgh..... 29.50 30.00 30.00 28.00 Open hearth billets, Philadelphia 27.50 27.50 28.50 27,00 Wire rods, Pittsburgh......... 28.00 28.00 29.00 31.00 St s, heavy, at mill...... 28.00 28.00 28.00 28.00 OLD MATERIAL, Per Gross Ton : Ste s, melting, Chicago.... 13.50 13.50 13.00 16.00 Stee , melting, Philadelphia 418.75 13.75 14.00 17.00 Ir is, ChICAMG, s6s400s.0 aes 16.00 16.00 16.50 19.00 [ror , Philadelphia........ 18.00 18.00 18.00 19.75 Car w ls, ChteReic ca Sx <coy es 14.50 14.50 14.75 17.00 Car wheels, Philadelphia....... 13.75 14.00 14.00 16.00 Heavy steel scrap, Pittsburgh.. 14.25 14.25 14.00 16.75 Heavy steel scrap, Chicago..... 12.25 12.25 12.25 15.50 Heavy steel scrap, Philadelphia. 13.75 13.75 14.00 17.00 FINISHED IRON AND STEEL, Per Pound: Cents. Cents. Cents. Cents. Refined iron bars, Philadelphia. 1.40 1.42% 1.42% 1.47 Common iron bars, Chicago... . 1.387% 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 Tank plates, tidewater, New York 1.56 1.56 1.56 1.56 Tank plates, Pittsburgh........ 1.40 1.40 1.40 1.40 Beams, tidewater, New York... 1.56 1.56 1.56 1.56 Beams, Pittetvurgiiss és d<040:0'0% 1.40 1.40 1.40 1,40 Angles, tidewater, New York... 1.56 1.56 156 1.56 Angles, Pittsburgh............ 1.40 1.40 1.40 1.40 Skelp, grooved steel, Pittsburgh. 1.45 1.50 1.50 1.40 Skelp, sheared steel, Pittsburgh. 165 160 .100. Le SHEETS, NAILS AND WIRE, _ Per Pound: Cents. Cents. Cents. Cents. Sheets black, No, 28, Pittsburgh 220 2.20 2.25 2.20 Wire nails, Pittsbaurgh*........ 1.70 1.70 1.70 1.80 Cut nails, Pittsburgh.......... 1.65 1.65 1.70 1.75 Barb wire, 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% 13.50 Ele trolytic copper, New York.. 12.6214 12.6214412.50 13.25 Spelter, New Work. ..6...s05%% 5.35 5.20 5.20 5.85 Opelter, St. LOM. i. eveuuus’ 5.20 5.05 5.05 5.70 Lead New Yor... saves udvous 4.40 4.40 4.40 4.40 Lead, St. LOWIS....iceeeeeeees 430 430 425 4.382% fin, New You... teeusteee eas 34.50 33.85 33.25 30.45 Antimony, Hallett, New York... 7.87% 7.95 8.00 8.00 Nickel, New You... is cesesdes 45.00 45.00 45.00 45.00 lin plate, 100 Ib, New York... $3.84 $3.84 $3.84 $3.64 " these prices are for largest lots to jobbers. Prices of Finished Iron and Steel fo.b. Pittsburgh ; I resht rates from Pittsburgh in carloads, per 100 Ib.: ™ w York, 16c.; Philadelphia, 15¢c.; Boston, 18c.; Buffalo, o “leveland, 10¢c.; Cincinnati, 15c.; Indianapolis, 17c. ; Uhicag 18e.; St. Paul, 32c.; St. Louis, 22%4c.; New Or- ett Oe. 5 Birmingham, Ala., 45c. Rates to the Pacific oe are SOc. on plates, structural shapes and sheets, No. . “nc heavier ; 85¢. on sheets, Nos. 12 to 16; 95c. on slieets, NO, i ad lighter; 65c. on wrought pipe and boiler tubes. ‘. Structural Material.—I-beams and channels, 3 to 15 bp sive, 1.40. to” 1.45c. net ; I-beams over 15 in., 1.50c. 9, het; H-beams over 8 in., 1.55c. to 1.60c.; angles, “9 © in, inclusive, 4 in. and up, 1.40c. to 145¢. net; er 6 in., 1.50e. to 1.55¢. net; angles, 3 in. on one gs, less than % in, thick, 1.45c. plus full extras oa el bar card, effective September 1, 1909; tees, 3 in. ag 2 40c. to 145¢. net; zees, 3 in. and up, 1.40c. to b ‘ angles, channels and tees, under 3 in., 145c., full extras as per steel bar card of September 1, August 25, 1910 THE IRON The Iron and Metal Markets AGE 1909; deck beams and bulb angles, 1.70c. to 1.75c. net; hand rail tees, 2.50c. net; checkered and corrugated plates, 2.50c. 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 February 6, 1903, or equivalent, 4-in, thick and over on thinnest edge, 100 es wide and under, down to but not including 6 in. wide, are ase. Plates up te 72 in. wide, inclusive, ordered 10.2 lb. per square foot are considered 14-in. plates. Plates over 72 in. wide must be ordered 4-in. thick on edge, or not less than 11 lb. per square foot, to take base price. Plates over 72 in. wide ordered less than 11 lb. per square foot down to the weight of 3-16-in, take the price of 3-16-in. llowable overweight, whether plates are ordered to guage 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 CTMMORE COME. ooo de cree cw tecepesesecreeseses $0.10 Gauges under 3-16-in. to and including No. 8..... 15 Gauges under No. 8 to and including No, 9....... .25 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. SS 2) Se 8” OS Serer ere 10 Complete circles, 3 ft. diameter and over......... .20 Boller and flange steel. .. 0. cccisccsccsescrsesess 10 “A. B, M. A.” and ordinary firebox steel......... .20 ns acces it eemeuneesésanust ea 20 PE I ri Cee ncoec cccaeeewereh owes wwe d 6% 40 Locomotive firebox steel... ..ccccsccensvsescess 50 Widths over 100 in. up to 110 in., inclusive...... on 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 Widths over 130 Im........csceeeees a Ow a # ktosmae 1.00 Cutting to lengths or diameters under 8 ft. to 2 ft., IN Godhead cae 6.26 Cb Re oe 606 ee Oe Ce 25 Cutting to lengths or diameters under 2 ft. to 1 ft., RN eda he sie ed s's Hawa aba sc bball: Unee Hees 50 Cutting to lengths or diameters under 1 ft....... 1.55 No charge for cutting rectangular plates to lengths 3 ft. and over. "‘Punnes,— Bet 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, 1.75e.; Nos. 11 and 12, 1.80c.; Nos. 13 and 14, 1.85c.; Nos. 15 and 16, 1.95¢c. Box annealed sheets: Nos. 17 and 21, 2.05c,; Nos. 22 to 24, 2.10c.; Nos. 25 and 26, 2.15¢. to 2.20c.; No. 27, 2.15¢. to 2.20c.; No. 28, 2.20c. to 2.25c.; No. 29, 2.25c. to 2.30c.; No. 30, 2.35¢. to 2.40c. Galvanized sheets, Nos. 13 and 14, 2.50c.; Nos. 15 and 16, 2.55c.; Nos. 17 to 21, 2.70c.; Nos. 22 to 24, 2.85c.; Nos. 25 and 26, 3c. to 3.05c.; No. 27, 3.10c. to 3.15¢.; No. 28, 3.30c. to 3.35¢c.; No. 29, 3.45c. to 3.50e.; 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 214-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, 2 Black. Galv. eee 70 66 ev Neo ak wl Sw Kchak on te ea al-+ Pee 71 57 67 53 DEL ak Mamas peu a ao wee 74 62 70 58 Olas oo 60 Rea i we weele et 78 68 74 64 Ch BE Wk. iankodasenewkans « 72 57 68 53 Plugged and Reamed. E06 OIAES 6 ok hk Ck oe chee 76 66 72 62 xtra Strong, Plain Ends. BOF on oe 0c k kn se ee edie 63 51 59 47 OS A ia hao 0den oednaees 70 58 66 54 , Re BR RRP 66 54 62 50 9,20; 23 aaa Bee eee eae 54 42 a <6 Double Extra Strong, Plain Ends. 1 OG DO in kt ke 6455.5 he eter 59 48 55 44 The above steel pipe 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. 1 to 4 kbsS ne hs Uwewaw ded deere 49 43 1% to ORG CcRE ROO ee cee eo rs VERE 61 43 DS oo eh cone cede Che oneedorsceeube eee 63 48 DE, Mladic ok bc nok oeacer'ekeeeeankieen 69 55 CW 38 in cess pene cee abndesaa cheeees eee 61 43 in, and smaller, over 18 ft., 10 per cent. net extra, in, and sages, eet 22 tt., io per cent. net extra. Less than carloads to destinations east of the lowered by River will be sold at delivered discounts for carloads lowered jad —_ for lengths 22 ft. and under; longer lengths, f.0 Wire Rods.— Bessemer rods, $28 to $28.50; open hearth and chain rods, $28.50 to $29. Steel Rivets.—Structural rivets, %-in. and larger, 1.90c., base; cone head boiler rivets, %-in. and larger, 2c., base; 5<-in. and 11-16-in. take an advance of 15c., and %in. and 9-16-in. take an advance of 50c.; in lengths shorter than 1-in. ee ieee ee Terms are 30 days, net cash, .o.b. mill. a an lat, 7 8B ac 7 web ae 3 Q - As Rar - ec ih ety AS tect THE Scat Ce © oF EEE BE 45 * PO . +. 2 eae TS I RR . —. oo om reo nee a “ A RN RE RNR i Me MP i Se a a A CN ANE SAN) 4 > we * * et Ah TE lab S tin iM Sets a OE een ae a agama tise THE IRON AGE August 25, THE IRON AND METAL MARKETS PaRK BuriLpine, August 24, 1910.—(By Telegraph.) Pig Iron.—The very low prices ruling for Bessemer and basic iron, and, in fact, all grades, have brought out consid- erable inquiry in the past week; at present, it is said, there are inquiries for 30,000 to 40,000 tons of Bessemer and basic iron, and also for a considerable tonnage of foundry iron. The furnaces are not willing to sell iron for extended delivery at to-day’s prices, believing that later in the year and possibly within a month or two the pig iron market may improve. Stocks of pig iron in the furnace yards are very heavy and production is still heavier than consumption, so that under these conditions improvement in prices can hard- ly be expected in the near future. A sale of 1000 tons of standard Bessemer iron for prompt delivery was made at $15, Valley furnace, and also a sale of 1000 tons of basic at about $14, Valley, and another 1000 tons at a slightly lower price. We quote Bessemer iron at $15 to $15.25; basic, $14; Northern No. 2 foundry, $14; Northern gray forge, $13.25 to $13.35, and malleable Bessemer, $14.50, all Valley furnace, the freight rate to Pittsburgh being 90c. a ton. Steel.—There is considerable new inquiry for billets and sheet bars, probably due partly to the lower prices that are ruling. Several sheet and tin plate plants have covered their requirements on sheet and tin bars for the balance of this year. We note a sale of 300 to 400 tons of forging billets at $29.50, Pittsburgh. We quote Bessemer billets at $24.50 ; Bessemer sheet bars, $25.50; open hearth billets, $25.50 to $26; open hearth sheet bars, $26.50, and forging billets, $29.50 to $30, all f.o.b. Pittsburgh, Wheeling or Youngs- town districts. (By Mail.) While there is nothing tangible in the way. of large con- tracts or increased sales on which to base the statement, the feeling in the iron market is more hopeful and prices are showing a stronger tone. The feeling is growing among the large steel interests that to yield any further in the direction of lower prices would be a mistake, and it is argued that the market is plenty low enough to warrant consumers in taking hold. <A large contract for plates of desirable sizes to roll was offered to two or three of the leading plate mills at $1 a ton under the regular price, but the business was refused by all three mills. It is not believed that further reductions in prices would stimulate buying, and there is a strong feeling that the steel interests have decided to stand pat on the present market, and if business cannot be secured at to-day’s prices to do without it. In the pig iron market there is no improvement to note, new inquiry being very dull, and when actual sales are made they are usually at prices that are regarded as under the regular market. It is reported that the Oliver Chilled Plow Company of South Bend, Ind., is again feeling the market for a large block of iron made up of 10,000 tons of Bessemer, 5000 tons of basic and 5000 to 5500 tons of malleable Bessemer. This concern was in the market in June for some iron, but did not buy. One or two small sales of standard Bessemer iron have been made on the basis of $15, Valley, and basic is obtainable at $14, Valley. Northern No. 2 foundry has sold for delivery over remainder of this year at $14, Valley furnace. The steél mar- ket continues quiet, with prices rather weak. A sale of 500 tons of Bessemer sheet bars was made recently by a broker at about $25, Pittsburgh, but there were some special condi- tions attached to the sale which account for the low price. In finished material the new bookings of the mills are light, but specifications against contracts already booked are com- ing in at a fairly satisfactory rate. The billet and rail sales division of the Carnegie Steel Company reports that its specifications so far this month have been larger than during the same period in July. Several of the leading pipe mills also report that actual] orders sent to the mills so far this month are larger than in the same period last month. The rod, wire and nail mills of the Pittsburgh Steel Com- pany at Monessen, Pa., which closed down about two weeks ago, are scheduled to start again on Monday, August 29. The Carnegie Steel Company has shut down eight of the 12 open hearth furnaces at its South Works at South Sharon, Pa., and also the blooming mill at the same plant. A plate mill of one of the leading interests is also closed this week for lack of orders. While the present situation in the iron trade is not satisfactory by any means, yet it is not without encouraging features, and it is believed that within a very short time, possibly shortly after September 15, there will be a much heavier buying movement. In the face «/ the light new buying prices are being remarkably well sus), ined. Ferromanganese.—Last May and June most co) syp. ers covered their requirements in ferro for the remainder of this year, and as a result there is little or no new uying and no new inquiries are out. We quote foreign 80 per cent. ferro at $39, Baltimore, the freight rate to Pittsburgh being $1.95 a ton. On a firm offer and for large tonnage this price might possibly be shaded. Ferrosilicon.—New inquiry is very light, most consum. ers having fully covered their requirements some tiine ago for the remainder of this year. We quote 50 per cent. ferrosilicon at $57.50 to $58, delivered, Pittsburgh, ani blast furnace ferrosilicon as follows: $23 for 10 per cent.. $24 for 11 per cent. and $25 for 12 per cent., f.0.b. Jisco and Ashland furnaces. Rods.—The dull condition existing in the wire and wire nail trades is reflected in rods, new inquiry being very light, while specifications against contracts are coming in at only a fairly satisfactory rate. We quote Bessemer rods at $28 to $28.50 and open hearth and chain rods at $28.50 io $29, Pittsburgh. Skelp.—aAs yet no agreement has been reached with the Sons of Vulcan on the puddling scale, this organization ask- ing 50c. a ton more for puddling than called for in the Amalgamated scale. As a result, a number of puddling plants in the Central West are idle and there is a decided searcity of iron plates. We quote: Grooved and skelp, 1.45c. to 1.50c.; sheared steel skelp, 1.55c. to 1.60¢. ; grooved iron skelp, 1.80c. te 1.85c., and sheared iron skelp, 1.0c. to 1.95¢c., Pittsburgh. Muck Bar.—A number of puddling plants in the Central West are closed on account of the puddling scale of the Sons of Vulcan not having been signed, and this has caused a de- cided scarcity in the available supply of muck bar. We are advised that offers of as high as $29.50 to $30, Pittsburgh, have been made for high grade muck bar for prompt ship- ment. Steel Rails.—For domestic use, new orders booked by the Carnegie Steel Company for standard sections have been very light; but this concern has taken some nice orders for export, and, in fact, has been receiving all this year a good deal of export tonnage in standard sections, which has served to keep the Edgar Thomson rail mills running to full- er capacity than otherwise would have been the case. New Gemand for light rails and specifications against contracts continues quite active. We quote standard sections of Bessemer rails at $28, mill, and light rails as follows: 8 to 10 Ib., $82; 12 to 14 Ib., $29; 16, 20 and 25 Ib., $28; 30 and 35 Ib., $27.75, and 40 and 45 Ib., $27, Pittsburgh. We quote steel axles at 1.75c. to 1.80c. and splice bars at 1.50c., at mill, Structural Material.—The time for opening the bids on the Quebee Bridge have been extended for one month, or until October 1. There is quite a good run of smal! orders for structural material, but no large contracts in this dis- trict have been given out for some time. Reports that the Carnegie Steel Company would build structural mills at cle Edgar-Thomson mills at Bessemer are officially denied. ‘This concern has under way at present the building of a finishing shop for splice bars at Bessemer, and later on will build mills for the actual rolling of splice bars, this now beivg done at Duquesne. Possibly the Carnegie Steel Company will build a mill at Bessemer on which steel rails, sheet bars and tie plates can be rolled. There is not enough business in rails being placed to take the output of the Edgar-Thom- son steel mills, and some other finishing mills will be erected at this plant, possibly next year, that will take care of the surplus output in steel. We quote beams and chanucls, 1 in. and under, at 1.40c. to 1.45¢., Pittsburgh. Plates.—The largest job in the market at present is the new water works for Portland, Me., bids for which are ( go in by noon on September 12, and which will take about 10,000 tons of plates. There is no new buying of cars by the railroads, the only active inquiry in the market being that of the Chicago & Alton for 3000 steel cars, but it is not known now whether the order will be actually placed. The Pressed Steel Car Company is operating its steel car works at McKees Rocks and Woods Run to about full capacity, and is turning out at the two plants about 120 cars pe day. This concern shipped on Monday, Augyst 22, 133 ca" and some steel under frames. General demand for plats is quiet, and several of the leading plate mills have vel little work on their books, and are running one day orders received the day before. We quote 4-in. and heave? plates at 1.40c. in large lots and 1.45c. in small lots. It is stated that several of the smaller plate mills that mak only a limited range of sizes are offering narrow plates at 1.35¢., at mill. Sheets.—The sheet market continues in very unsatir factory condition, both as regards new demand and prices Aug t 25, 1910 e has heen eapecusg .Or come Ulne iba. a new of prices on a lower basis would be sent out by the mills, but this has not yet been done. Prices on box annealed, black sheets are being cut $3 to $4 don galvanized from $4 to $5 a ton. New demand and consumers are buying from hand to mouth to ‘ual needs. Box annealed black sheets are on a » 0c. for No. 28, while No. 28 galvanized are about + mill, in carload and. larger lots. On painted and .d roofing material prices are also being materially Present prices in effect on black, galvanized and sheets are printed on a previous page. Tin Plate.—New orders being placed for tin plate are this is always the dull season of the year, but the booked for four or five months ahead and con- simers are specifying very freely against their coniracts. The ut of tin plate by the American Sheet & Tin Vlate Company is heavier than ever before in its history, this in spit the faet that two of its leading plants, the La Belle at Wheeling and the Laughlin plant at Martin’s Ferry, are bot! . All the leading tin plate mills are more or i¢ss behind in deliveries, and there is difficulty in finding mills take orders for reasonably prompt shipment. There a very notable increase in capacity fe: making tin the Pittsburgh district in the past year, fully 50 iew hot mills having been erected in this district, e of this all the tin plate plants in the Pittsburgh vith one exception, are running to full capacity and : some months ahead. The market is very firm, and 100-lb. cokes at $3.60 per base box, f.o.b. Pitts- It is stated that on some small orders for tin plate pt shipment placed recently, 10c. to 15c. per box was paid. Rars.—New demand for both iron and steel bars is rela- tively light, but specifications against contracts from the and wagon builders for steel bars are coming in shipments by the mills are heavy. The puddling sca he Sons of Vulean, which calls for an advance of iD on over the Amalgamated scale for boiling, has not t ied, and as a result the output of iron bars in the s district is lighter at present than for some mor The leading steel bar mills are pretty well filled up wit ntracts over the next 60 days, but in iron bars the mills not so well filled. We quote steel bars at 1.40c. in rg ; and 1.45c. in small lots, while iron bars range from 1.45 1.50¢.. f.0.b. Pittsburgh. Spelter.—The market is firm and slightly higher prices ew demand being reported better than for some quote prime grades of Western spelter at 5.15c., Louis, or 5.27%4c., Pittsburgh. Hoops and Bands.—New orders being placed for both d bands are relatively light, consumers pursuing the buying conservatively and only in large enough cover actual needs. Specifications against con- ide prior to July 1, but which were not taken out, 1 some contracts made after July 1, are coming tisfactory rate. We quote hoops at 1.50c. to 1.55c. s at 1.40c, to 1.45c., the latter carrying extras as tee] bar card. Spikes.—New demand is light, but in the past week a mill has received contracts for about 3000 kegs i] spikes for the Chicago, Milwaukee & St. Paul it SOO kegs for the Pan Handle railroads. We ndard sizes of railroad spikes at 1.50c. to 1.55c., for Wes shipment, and 1.55¢. to 1.60c. for local trade. New for small railroad and boat spikes is only fair, placing orders only for small lots to cover actual | S \Ve quo.e small railroad and boat spikes at 1.60c hase, in carload and larger lots. Rivets.—New business being placed is light and neavly ' in small lots to cover actual needs. The official pric | structural rivets are 2.15¢. and on boiler rivets =e '.o.b. Pittsburgh, but these prices continue to be less shaded on desirable orders. Shafting.—Makers report that new demand for shaft- g ither light, but specifications against contracts placed b uplement trade prior to July 1 are coming in at a sfactory rate. Demand from automobile makers for s lighter than for some time, and the mills are pl ‘ll caught up on baek deliveries. Regular discounts Or ng remain at 55 per cent. off in carload and larger 0 per cent. off in small lots, delivered in base ter- On desirable contracts and for large lots 55 and 5 per is being named. Products.—New demand for plain and barb wire for wire nails is reported to have been more active st week than for some time, and the mills regard forerunner of the heavy demand expected with ng up of fall trade. One leading plant making rods, | wire nails in the Pittsburgh district has been idle ‘l weeks, but is expected to start up in part at least o@ THE IRON AGE THE IRON AND METAL MARKETS on Monday, August 29. New demand for cut nails is light, buyers placing orders only in smali iow to cover actual needs, We quote galvanized barb wire at $2; painted, $1,70; an- nealed fence wire, $1.50; galvanized, $1.80; wire nails, $1.70, and cut nails, $1.65, in carload and larger lots, all f.o.b. Pittsburgh, freight to destination being added. Merchant Pipe.—Several of the leading pipe mills re- port that conditions are quite satisfactory in the lap weld sizes, but are not so good in butt weld pipe. The National Tube Company has taken contracts in the past week for 35 miles of 18-in. pipe, 25 miles of 20-in. and about 25 miles of 16-in. The Philadelphia Company is reported in the market for three miles of 8-in. On the larger sizes of pipe the mills are pretty well filled for the balance of this year, but have only a relatively small amount of tonnage on their books in the butt weld sizes. Prices on both iron and steel pipe are firm, the concessions made some time ago on iron pipe have largely disappeared owing to the scarcity, and higher prices being charged for iron plates. Discounts on both iron and steel pipe, printed on a previous page, are, we are advised, being maintained. Boiler Tubes.—New demand for boiler tubes is light ; both from the railroads and boiler shops very few new con- tracts for locomotives have been placed recently, while the boiler shops are short of work, and this naturally is re- flected in new demand for tubes, which has been dull for some time. Discounts on boiler tubes, printed on a pre- vious page, continue to be shaded. Coke.—A leading blast furnace interest came into the market recently for 70,000 to 80,000 tons of furnace coke for shipment over remainder of this year, but the business has not yet been placed, except that the concern in question is reported to have closed contracts for about 20,000 tons of standard blast furnace coke for shipment in September, at $1.60 to $1.65, in net tons, f.o.b. at oven. Aside from this there are no other inquiries in the market for blast furnac« coke, and new demand for foundry coke is also quiet, the foundries either being covered by contracts or buying in small lots from month to month. The output of coke in the Upper and Lower Connellsville regions last week was 367,- 273 tons, a falling off over the previous week of nearly 40,000 tons. There is a decided shortage of water at some of the coke plants, and this is seriously interfering with operations. We quote standard grades of Connellsville coke for prompt shipment at $1.60 to $1.65, in net tons, at oven, and $1.75 to $1.80 on contracts for remainder of this year. We quote standard grades of 72-hour foundry coke at $2.15 to $2.25 for prompt shipment and $2.25 to $2.50 on con- tracts. The Jamison Coal & Coke Company is going ahead in developing its coal holdings in West Virginia and will build a large number of ovens in Marion County, the new plants to be located at Farmington, Underwood and Bar- rackville, on the Baltimore & Ohio Railroad. This concern has 6000 acres of coal land in Westmoreland County, Pa., where it now operates 1408 ovens. It is one of the largest producers of standard grades of furnace and foundry. coke in the country and is practically sold up for the balance of this year on both grades. Iron and