The Iron Age 1910-09-29: Vol 86 Iss 13

1855 Published Every Thursday by the DAVID WILLIAMS COMPANY 14-16 Park Place, New York at the New York Post Office as Second Class Mail Matter. THE IRON AGE sstablished New York, September 29, 1910 Subs Price, United States and Mexico, $5.00 per Annum; to Canada, $7.5, per Annum; to Other Foreign Countries, $10.00 per Annum. v Single Copies, 20 Cents. CHA T - - - - o PRESIDENT Wi | - - - TREASURER AND GENERAL MANAGER Ha ” - - - * : SECRETARY W. COPE \ 3 Eprrors ; NDLEY - - : ) COBLEIGH - - MECHANICAL EDITOR Branch Offices Philadelphia, Real Esiate Trust Building Cricago, Fisher Building Pittsburgh, Park Building Cleveland, American Trust Buildin g Bostor pton Building Cincinnati, Second N'‘t'l Bank Bldg. Milwaukee, 1417 Maije.tic Building. aa ele tl ste a cd aad CONTENTS. r PAGI | Serious Test:0f PRE iewniin cdi hewss Us daeiewe nae 685 : . eas . o . Ss lrade Conditions and Prices......... aw shia ele 6S6 4 L , y ; IR7 Unrest and the New Doctrines...........ee0. 687 ng Instructions in Installing Equipment...... 688 Hig ’ luction of Wire Rods Reached in 1909..,..... 685 ) I | Metal Market Beports.. i... 5.5 0a bs 689 to 697 } i M ery Mariee€ Repose sin 65 eS 55 698 to 713 Gustrinl GQGee 35 66 cee src sts cs coe ba wade 714 \ n Iron and Steel Institute at Pittsburgh...... 714 Experimental Ore Concentrating Plant. 714 ned Use of Cpe st oF inc dh See eke 714 I i Foundry Foremen’s Banquet.............++. 715 Cosi &.-Cokq: Comes sais is ova vee Sidcdas 715 ’ Seamless Steel Tubes Company Breaks Its STEUER SN Ca RT CEP ER TLL eee 716 try Disturbed. .... 716 MPOMNCE ys 6.5 sacha eas, che 716 Superior Corporation 717 NOOB si hs eS oa Wala Re OF Me ees La eee 717 Upinens ONO s <-. i 6e ke Ss Se eS 717 oh. Mg Shee auc a Ate ele Gtd aoe aaa 718 Board Confers with Manufacturers. ... 718 1 Boosters 718 Iren Market Sata sig dusted 719 ure of Rolled H-Beams. Illustrated........ 720 Starrett Building BMeoordl. . é.ck cae s sobndbes 725 Smith Bevel Gear Planer, Illustrated. 726 ‘ DONO 5 ssc Es 728 . Mv ees esennceeoneersensosivesucaes 2 in Puddling Scale Settled. . 728 igraph. RMN Solo iad cy’ 9. Wwe da 729 Gas Producer for Glass Houses.............. 729 Soft Steel Ingcts. Illustrated..... 730 ‘arpenter Gap Lathe. Iustrated............% 73 Seamless Steel Tubes Company's New Plant.... 73 Gear Teater, . Tihvetet@t@ins 66503 hk ce 735 Shipments. troge (Cg oo. sss dew 6 Oe 735 nd Grinders; THpetraQe ss isos 1s oee s pee ee 736 eland Arbor Press, Illustrated........:.... 738 7; ‘ . : : - \dford Lathe Relieving Attachment, Illustrated 739 . & Wright Cabinet Base Prilling Machine. Illus. 740 nd Appleees . 05 sides sa idae a a See 740 I RTO i 74! : the Benen eens cree en eran cates eseeatecnes 741 fetal Pele. 0s. is edad, o3.op oun ceeic ie 742 VoL. 86: No, 13 No Serious Test of Prices More Inquiry for Sheets with a Firmer Market Pig Iron Sales for 1911 at Close to the Basis for 1910 The developments of the past week have not been calculated to stimulate demand for iron and steel prod ucts. The uncertainties in the outlook are such as the conference of several large manufacturers of steel and the assuring statement which followed it are not sufh cient to remove. Buying for immediate needs is the policy of consumers ali along the line, and producers are adjusting operations accordingly. It is a condition under which much of the business going will flow in the usual channels, few cases arising in which tonnage will be tempting enough to prompt a clash that would provoke retaliation. The total of September shipments from steel mills will come closer to that for August than has been cred ited in some quarters, the average decrease being esti- mated at little over 5 per cent. The heavy lines with which last week’s rumors of a price war were chiefly concerned have been quietest, and the 1.40c. basis for plates has been maintained. The lighter products are fairly active. More inquiry has appeared for sheets, and prices are firmer than in recent weeks, manufacturers more generally quoting 2.20c. for No. 28, whereas 2.15c. has been considered the market recently. The American Sheet & Tin Plate Company is now quoting on the following basis: No. 28 gauge American Bessemer, 2.20c.; No. 10 blue an- nealed, 1.65c.; No. 28 galvanized, 3.20c.—all f.o.b. Pittsburgh. These prices apply to sheets for prompt shipment. ' Rail orders include 10,000 tons for the Duluth, Rainy Lake & Winnipeg. In addition to the recently reported buying by the St. Paul for 1910 delivery the reinstatement by two or three roads of business for this year, previously postponed or canceled, is of interest. Fxport rail business continues good. Among late con- tracts is 10,000 tons additional for the National Rail- ways of Mexico. The increase in all iron and steel exports noticed for several months, and particularly in heavy lines, continues and is more marked. 3ids lately opened on fabricated work have been so close in some cases as to suggest more uniformity in minimum quotations on plain material. Contracts closed include 2200 tons of bridge work for the Chicago & Western Indiana Railread and 2200 tons for the New lersey Zinc Company's new construction at Palmer- ton, Pa. The Philadelphia & Reading will require 2500 tons for the improvements at its Port Richmond terminal. Billets and sheet bars are weaker at $24, Pittsburgh, for Bessemer billtts ahtl-$25- for Bessemer jaudyopen Mechanica} and Civi} Engineers, PITTSBURGH, Pag / a ae - 686 THE IRON AGE hearth sheet bars. Some contracts for sheet bars have been adjusted to the above basis. A sale of 2500 tons of narrow steel skelp is reported at 1.40c., Pittsburgh. Pig iron is sagging and the persistence of some high cost blast furnaces under the continuance. of prices which mean a loss to them is surprising. More busi- ness is being done for 1911 and the important develop- ment here is that the advance recently asked over prices ruling for early delivery is fading away. Some Northern furnace companies have sold for the first quarter and first half of next year at very close to to-day’s prices. Inquiry for foundry iron for 1911 is increasing. A Western stove foundry has asked for 5000 tons; a cen- tral Ohio implement maker for 10,000 to 12,000 tons; an Eastern foundry for 8000 tons, and Western malle- able foundries for round amounts. At Buffalo inquiry for the first quarter and half, chiefly from New York State points, amounts to 30,000 tons. The recent low prices on basic iron in the East and the accumulation of stocks in the past two weeks due to held-up shipments on contracts with steel works, are bringing further curtailment of output in New Jersey and the Lehigh and Schuylkill valleys. As low as $14.50 was done on basic in eastern Pennsylvania. At Pittsburgh the market for Bessemer and basic iron is more active. Sales of Bessemer for fourth quarter in 1000 to 2000 ton lots have been made at $15, Valley furnace, and 1500 tons of Bessemer for the first quarter of 1911 sold on the same basis. The falling off in ore shipments on the lakes has sent more boats into ordinary. October shipments, it is estimated, will show a falling off of nearly 50 per cent. from the summer rate. The control of the pig tin supply in this market is again in few hands, and prices have advanced in the week to 35.15c. Electrolytic-copper has been sold be- low 12.50c., and is weaker. Steel Trade Conditions and Prices The flurry of last week over prices of steel prod- ucts raised several questions for which satisfactory answers were not at liand. For example, it was said that Wall Street was disposed to consider the state- ment given out by Chairman Gary on Tuesday after- noon, September 21, as “ unconvincing” and “ not en- tirely satisfactory’ because it contained no prophecy regarding the course of prices beyond the immediate future. The idea that steel manufacturers are gifted with such insight that they might become sponsors for the behavior of the market seems to be behind this skepticism. That would be a very large claim even for the present “ era of good feeling.” We do not understand that the statement referred to, or the later one relative to the conference of sev- eral steel company presidents, was intended as a guar- anty that prices will be any better maintained in the next three than in the past three months. The market, having gone up in the second half of 1909 on heavy forward buying, has been for several months slowly receding. If leaders in the trade, in conference over the situation, found that in view of the decline that has taken place, and considering the amount of new busi- ness coming in from week to week and the shipments still due on term contracts, prices are not likely to go down sharply in the near future, their judgment will naturally be given weight. There is less reason, it would seem, to take exception to this feature of the Septemb. 20, 1910 published statement than to the declaration :hat, “os the whole, the steel business should be cons Jered gat. isfactory.” Consumption considerably short 0f prodye. ing capacity and new orders steadily less ‘han ship. ments have not heretofore been considered satisfac. tory.” Granting that the periods in which ‘nills are weeks behind orders and when consumers jay pre. miums for early shipment should no more be calleg “normal” than times like the present, the ha)it of the trade is to expect the former and the reverse condition brings disappointment. A question always raised when the marke: hias been declining and contract buying has practically stopped is whether a sharp cut in prices would bring large con- tracts to the mills. The theory of the relation between the price and the use of an article of general | msump- tion is that higher prices restrict and lower prices promote buying. Practically the theory is subject to modification. The fact that business in the iron trade comes and goes in waves has an important bearing on all situations like the present. Those who were insist- ing last week that the steel trade was verging ona sharp break in prices, recalled that in February, 1909, after more than 18 months of hesitant buying for im- mediate needs, prices were cut deeply, and in the next three months declined further, with the result that a buying movement started which broadened into the buoyant market of the final quarter of 1909. They have seen another period of halting buying in 1910 and have quickly written the same prescription. The feature of the buying in the second half of 1909, little appreciated by many at the time, was the restocking it represented in every avenue of consump- tion of iron and steel. The railroads contributed very moderately to it. For two years, or from the middle of 1907, the country had been drawing on stocks—te- ducing to the lowest point the working margin of iron and steel of all descriptions in the hands of jobbers and consumers. In the revival in all industry last year it was found that what was a proper working stock in the beggarly consumption of 1908, had to be much in- creased. There was a movement all along the line— in foundries, machine shops, blacksmith shops, repaif shops, in hardware and mill supply stores, and at all the jobbers’ warehouses dealing with any form of metal products—to rebuild stocks to the proportions re- quired by steadily expanding business. There came in also the feature always noticed when the country’s dammed up demand of months breaks loose—the in- ability of the producing machinery to speed up to the new pace. Consumption seemed overwhelming be cause the restocking factor could not be measured. For six or seven months the inflow of new business was greater than the output of the mills. Following has come eight or nine months of a reversal of that 3ut meantime we have had nothing com parable with the two years of stock starvation that preceded the restocking movement of 1909. Consump: tion has been all this year, and is still, on a scale calling condition. for the carrying of vastly greater stocks in every metal working line than were needed in 1908 and the months of 1909 preceding June. Stock reduction must go much farther before the country becomes so bare of steel as to make any large response to the stimulus of cut prices; or, on the other hand, before the mills will feel driven to make such cuts aS in 1909. Capac- ity meanwhile has been notably increased. With rail road buying absent, it is greater than the countrys + 7 Pt September 29, 1910 or its probable consumption in 1911. iturally want more light on the ultimate condition on prices. Political and eco- ns of importance are up and will not be nths. nsumption and values. Steel prices have ral dollars a ton since the beginning of resenting more of a readjustment than in ndustries. The case is not, as in 1909, one the steel manufacturers to do what all ive done, tions named and those which have been ‘ emphasis by repeated comment suggest trade lacks much of presenting the par- 1999 that has been so readily assumed. Public Unrest and the New Doctrines rally recognized that a feeling of extreme les the people. To define it, to state pre- t is directed against, is impossible, for we ring what is in the minds of individuals and ts a wide variety. One thought is common it is that the cost of living is too high. It ral conviction that something should be done One of our premises to what is to follow e, that the people want the cost of living ed. ‘ premise is that a certain set of propa- g ¢ preached throughout the country, Colo- being the chief exponent, but having ny. The propaganda comprises chiefly: her standard of business morality; (2) a through the medium of a corporation is ;) the “new nationalism.” It is unneces- patiate upon the meaning of these terms, e “new nationalism” as a term was born s is the last day of August, in Colonel Roose- itomie speech, it may not be inappropriate : definition: “ The new nationalism puts the ed before personal or sectional advantage patient of the impotence from the over- government powers, the impotence which ssible for local selfishness, or for legal cun- by wealthy special interests, to bring na- ities to a deadlock.” have never so good a thought, and may never so clearly, yet the impression created of the hearer may be tinctured, may even with a spirit which is entirely foreign ight as it lay in the mind of him who gave Were practical psychology centuries old, its infancy, it would still be impossible so to define, explain and guard his thought recipient should have only the giver’s con- +} ner more nor less. These propaganda crtile soil, and are so broad and so suscepti- cation that it is unavoidable that some of shall be bad fruits, and that some of their shall be improper. rted with two premises: the desire of the reduction in the cost of living and the heing preached. What more natural than ple should couple the one with the other? are relations no one can deny, but we are th what is in the minds of many people, prob- |. more than half of the 90,000,000 people THE IRON They have much to do with iron . AGE 687 in this country. Beyond doubt, the greater number of these people have in mind a closer connection than really exists between what these propaganda are di- rected against and the high cost of living. That it would be well for the cost of living to be reduced all will grant. That what is good in the propaganda should be carried out will be granted with equal free- dom. For either, action is necessary, and action can only be in detail. The Government cannot put R. G, Dun & Co. under bonds to reduce their index number; it can come down only by the owners of the individual commodities whose prices make up that index number Business morality, personal responsibility for corporate acts, love for national rather than special advantage, can- not come through one sweeping act, but must come to individuals. Action leading to direct results, must be action in detail. In the nature of the case, then, many of the actions incited by the preaching may be ill-timed or wrong, although the preaching in itself is wholly good. The fault will lie in the application, largely be- cause so many of the go,000,000 people in the country will take it upon themselves to apply the preachings farther than the nature of their knowledge and ex- perience warrants them in doing. accepting less money for the commodities. Apparently the concept in the minds of millions of people is that the high cost of living is due largely to the “trusts,” and that Government regulation of the trusts and the railroads promises the most important remedy now conceivable for the high cost of living. The propaganda as to regulation of business deal ex- clusively, so far as we are able to observe, with such regulation as can be practiced by the Federal Govern- ment, and hence applies only to interstate commerce, and, therefore, business interests engaged in it. The regulation in mind, then, is of the great or interstate commerce trusts, a conception which it is important to emphasize, and of the railroads. , The greatest of all “trusts” in point of capitaliza- tion and prestige is the United States Steel Corpora- tion. Quantitatively, its annual gross receipts amount to about $5 per capita for the 90,000,000 people in this country. Include its competitors, and include also the ore and blast furnace interests serving the foundry trade, and the total annual receipts of the entire iron and steel industry as thus defined do not amount to $10 per capita. Regulation does not touch the cost of living except by reduction. How would the cost of living be affected by a reduction amounting to a frac- tion—necessarily a small fraction—of $10 per annum? So much for a quantitative concept of great trusts. The burden of the railroads, which are already being regulated, is easily assessed. The total passenger in- come of the railroads in the last fiscal year was $6 per capita, and the total freight income $19, a total of $25 per capita. A reduction of 12 per cent.—$3 per capita —would wipe out every dollar of dividends paid, other conditions being unchanged, while a like increase would permit the doubling of all dividends. What is $3 in the annual per capita cost of living? These items are simply nothing at all to the indi- Let us take a glimpse of what is important to him. Merely to live decently involves, using rough but we believe sufficiently accurate estimates, an an- nual consumption per capita of $15 to $25 worth of milk, eggs of about the same cost and butter of half as vidual. TORS ers a pee corse an neh edt na Oxoates Eos ar 688 THE IRON great cost—total expenditures, on the basis of present values in centers of population, of, say, $40 to $60 per capita per annum, for only three of the many items which go to make up the cost of living. Now there are certainly few who upon investiga- tion would deny that there is more room for a reduc- tion, by this means or that means, in the cost of these and many other articles which are really important in making up the cost of living than there is in all the subjects which in the popular mind are associated with the propaganda which are being so lustily preached. With no part of the propaganda, properly understood, do we here take issue; we are merely illustrating the distorted view which millions of people are likely to take of them. Following Instructions in Installing Equipment A manufacturer of a standard metal working ma- chine, which may be classed as special, has adopted a system of requiring customers to bear the expense of putting machines in working order, if the fault proves to be theirs and not the builder’s. This subject is an old one. Machinery men are constantly annoyed by complaints of customers, and many times are put to large expense, which would have been avoided had the users thoroughiy followed instructions. In the case in question the machines are by ne means complicated, and any ordinarily intelligent mas- ter mechanic should be able to set them up and start them. The company sends a copy of carefully pre- pared instructions in the box with the machine and a duplicate by mail. Nevertheless, extraordinary results are occasionally obtained. A common source of trouble is in the speeds. For example, the builder sent out a machine. and complaint came that it was valueless; that it broke down almost immediately after being started up; that parts must be replaced, and unless these conditions were complied with immediately the machine would be shipped back to the factory. The manager wrote back, asking the trouble in detail. The answer was that the machine was “no good.” He wrote again, insisting upon information, and, getting none, stated that a man would be sent to the customer’s works if the latter would bear the expense should he prove to be in the wrong. This was agreed to. An expert from the factory found that a large and, from its nature, somewhat frail reciprocating part, designed to operate at 60 rev. per min., had been belted at 180, and breakage of a serious nature followed inevitably. Other almost equally gross examples of disregard of instructions were discovered. The machine was put in shape and operated so well that it was duplicated several times over, almost immediately. The customer acknowledged the fault and paid the bill, amounting to something over $50. In several other such cases the cost has been apportioned in the same way. Many machinery houses take it for granted that the buyer will not do the work of installation satisfactorily and send a man with the machine to set it up. The cost is considerable, but, of course, it enters into the Where machines are expensive, the additional price is not con- price of the machine and the customer pays it. spicuous. With low-priced equipment a manufacturer cannot afford to send a man, nor would the customer be willing to pay the additional price. Therefore, it must be a case of printed instructions. Probably no AGE Septem T 29, 1919 one will dispute the justice of apportionin, the Cost of remedying such troubles according to ti legree of blame as between the manufacturer and | “ustomer —_-+e—__. Highest Production of Wire Rog Reached in 1909 The statistics of the production of iro) and sted wire rods in the United States in 1909 ha\ ; een col. lected by the American Iron and Steel sociation The total, estimating the production of two plants % found to be 2,335,685 gross tons, or considerably the largest 12 months’ output on record. It compares with 1,816,949 tons in 1908, an increase of 518,736 tons 28.5 per cent. In 1909 no iron wire rods were reported but in 1908 the steel wire rods rolled amounted 4 1,816,440 tons and the iron rods to 509 tous. Small quantities of steel copper clad wire rods are include in the totals for the two years. The following table gives the production since 1907 by groups of States or 1867. 1908 194 Massachusetts, Connecticut, Rhode Island, New York and New Jer- WEE is de 54a Ws be bee ka 233,687 200.1153 280,10 Pennsvivania, Kentucky, Georgia, Alabama and Ohio.......... 1,176,278 1,047,243 1,388,997 Indiana, Illinois and Colorado.. 607,618 569,593 OBTAT Ce Se eee 2,017,583 1,816,949 2.335.995 Wire rods were rolled in 1900 by 32 works in States as follows: Massachusetts, 1; Rhode Island, 1: New York, 3; New Jersey, 2; Pennsylvania, 11; Ker. tucky, 1; Georgia, 1; Ohio, 6; Indiana, 2; Illinois, and Colorado, 1. Connecticut and Alabama; which have wire rod mills, did not roll wire rods in 1909 or in 1908, but in 1907 both were producers. In 1908 there vere 29 active works in the same States. In 199 Pennsylvania rolled over 36.9 per cent. of the total for the whole country, as compared with over 32.4 pet cent. in 1908. The following table gives the production of iron and steel wire rods from 1889 to 1909 in gross tons: Cons, Tons. Tons WR ie $63,851 1696...... 623,986 1903... .. 1,503.45 eee 457,099 1897...... 970,736 1904...... 1.699.028 1891......536,607 1898...... 1,071,683 1905... . . 1,808,688 1892...... 627,829 1899......1,026,398 1906......1,871,0H 1893......587,272 1900...... 846,291 1907......2,01758 Me ets 673,402 1901...... 1,2€5,934 1908... ...1,816.49 OU 6 ahem <i 701,180 1002...... 1,574,293 1909......2,535.68) At the close of 1909 two wire rod mills were it course of erection—one at Woodlawn, near Aliquippa, Pa., by the Jones & Laughlin Steel Company, and one at Johnstown, Pa., by the Cambria Steel Company. !t the same time the Southern Iron & Steel Company was removing its rod mill from Ensley, Ala., to Alabama City, Ala. Since January the American Steel & Vir Company has begun the erection of a large rod and wire plant at Wylam, near Ensley. —_+-e_____ The Glacier Metal Company, Richmond, Va.. #% placed on the market a new ribbonized plastic metal! packing for steam, air, gas, water, ammonia, &c.. which is described as follows: This, packing is manufactured from the finest alloy of white metal, which can sal® factorily be made into fine shreds or ribbons; 1s 7 pliable, will not score the rods, shows no corrosid when it comes in contact with acids, and cannot rot as many packages do which are made from fiber. No 87% are required to be carried in stock, as a rope can easilf be made with the hands of the size required for pa ing the rods. The iron ore explorations on the Wisconsin end 0 the Menominee range, referred to in these columm 7 cently, are not being carried on by the Wells'o >" & Iron Company, as stated, but by the Spring oe Mining Company; nor is the former company ¢ ested in the work. Pr The Iron and A Comparison of Prices ver the Previous Month in Heavy Type, | oui Declines in Italics. ne week, one month and one year previous. Sept.28.Sept.21,.Aug.24,Sept.29, pia IR! Gross Ton: 1910. 1910. 1910. 1909. standard, Phila- as .... $16.00 $16.00 $16.00 $18.50 Southern, Cincin- steels ose 14.25 34:23 14:25 17.95 local, Chicago. . 16.25 16.25 16.50 19.00 eastern Pa.... 15.00 15.00 15.00) 18.50 ITRGOS. 6 wks a wns 13.50 153.50 14.00 16.50 ly eee 15.90 15.90 15.90 18.40 Pittsburghf?...... 14.15 14.15 14.15 16.90 . chareoal, Chicago 18.25 18.25 18.50 19.50 BILLETS, Xe., Per Gross Ton : Pittsburgh... 24.00 24.56 24.50 25.00 Pittshburgh..... 290) 29.00 29.50 29.00 ‘ts, Philadelphia 6.00 26.50 27.50 27.60 urg@h.........-. 28.00 28.00 28.00 31.50 S 7. ot Sele! sc. z.. 28.00 28.00 28.00 28.00 OLD MATERIAL, Per Gross Ton : ng, Chieago.... 13.50 3.50 17.25 ting, Philadelphia 14.00 14.00 17.75 RO. x oat .. 16.00 16.00 20.450 adelphia..... . 18.00 18,00 21.00 ABD ..< i cvaeee 14.00 74.00 18.50 ladelphia. : 3.75 138.76 17.00 ip. Pittsburgh... 14.24 14.50 17.50 ip, Chichaoe..... 13.36 i236 H p. Philadelphia, 14.00 14.00 17.75 FINISHED TRON AND STEEL, Cents. Cents. Cents. Cents. irs, Philadelphia. 1.40 1.40 1.40 1.57 rs, Chicago.... 1.387% 1.87% 1.387% 1.55 irs, Pittsburgh... 1.45 1.45 1.45 LAS ‘ dewater, New York 1.56 1.56 1.56 1.56 s ittshburel:d4.a020 1.40 1.40 1.40 1.40 lewater, New York 1.56 1.56 1.56 1.66 Pittshar@h; sis isas 1.40 1.40 1.40 1.50 ter, New York.... 1.56 1.56 1.56 1.66 gh.. 5 eso ae eo 1.40 1.40 1.40 1.50 New York... 1.56 56 1.56 1.66 g] ; sass 1.40 1.40 1.46 1.50 steel, Pittsburgh 1.40 1.40 1.45 1.40 Pittsburgh 1.59 1.50 1.55 1.50 SHEETS, NAILS AND WIRE, Cents. Cents. Cents. Cents. No. 28, Pittsburgh 2.15 2.15 9 20 2.320 huUrgle.. .+secck 1.70 1.70 1.70 1.80 urgh ia ; 1.65 1.65 1.65 1.75 Pittsburgh*... 2.00 2.00 2.00 2.10 WVETALS Pound: Cents. Cents. Cents. Cents. New York ea a 12.75 12.75 8.00 18.50 New York.. 12.50 12.50 12.6214 13.00 | ; 5.G0 5.60 5.35 5.85 s ; ‘ 5.45 5.45 5.20 5.70 4.40 4.40 4.40 4.38 4.27% 4.30 4.30 4.25 e ...... 85.12% 34.55 34.50 30.75 tt, New York... 7.87% 7.87% 7.87% 8.30 York oo ahaa ae 5.00 45.00 45.00 45.00 New York... $3.84 $3.84 $3.84 $3.74 s are for largest lots to jobbers. . . - . . Prices of Finished Iron and Steel f.o.b. . Pittsburgh from Pittsburgh in carloads, per 100 Ib.: } Philadelphia, 15¢.; Boston, 18¢.; Buffalo, 10c.: Cincinnati, 15¢.; Indianapolis, 17c. ; St. Paul, 32¢e.; St. Louis, 22%4c.: New Or- birmingham, Ala., 45e. Rates to the Pacific on plates, structural shapes and sheets, No. Soc. on sheets, Nos. 12 to 16; 95e. on sheets, shier; 65ce. on wrought pipe and boiler tubes. ural Material.—I-beams and channels, 3-to 15 1.40¢. to 1.45¢. net; I-beams over 15 in., 1.50c. H-beams over 8 in., 1.55¢. to 1.60¢.; angles, isive, 4 in. and up, 1.40c. to 1.45c. net; 1.50¢. to 1.55¢e. net: angles, 3 in. on one ess than \4 in. thick, 1.45e., plus full extras card, effective September 1, 1909; tees, 3 in. . to l45e. net; zees, 3 in. and up, 1.40c. to sles, channels and tees, under 3 in., 1.45c., oy extras as per steel bar card of September 1, reams and bulb angles, 1.70c. to 1.75¢. net: 9 = *, 2.90¢.,; checkered and corrugated plates, Stry n Tank plates, % in. thick, 64 in. up to 100 in. 1.45¢., base. Following are stipulations pre- Septenber 29, 1910 THE IRON AGE 689 Metal Markets 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 oa wide and under, down to but not including 6 in. wide, are pase. Plates up to 72 in. wide, inclusive, ordered 10.2 lb. per square foot are considered 4-in. plates. Plates over 72 in, wide must be ordered \4-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 lb. per square foot down to the weight of 3-16-in. take the price of %-16-in. Allowable overweight, whether plates are ordered to gauge or weight, to be governed by the standard specifications of the Association of American Steel Manufacturers, Gauges under '4-in. te and ineluding 3-16-in. on Eee ee ee ‘as . os O10 Gauges under 3-16-in. to and including No. 8..... 15 Gauges under No. 8 to and including No. 9....... .25 Gauges under No. {} to and including No, 10...... 30 Gauges under No. 10 to and including No, 12.... A0 Sketches (including all straight taper plates), 3 ft. Re ree NS bs odo o'n ee chan OKs ‘ 10 Complete circles, 5 ft. diameter and over...... 20 Bovler Ame TORSO BIO oo. occk ck ones weawevess a" “A. B. M, A.” and ordinary firebox steel....... 20 Coren Se TG, 5 oc oy 00 os Meee Sia ea we hea aa oO Marine steel........ Per ree, ae fee Locomotive firebox steel............5.e0. SRK AS Oe Widths over 100 in. up to 110 in., inclusive.... ON Widths over 110 in. up to 115 in., inclusive. . ; Widths over 115 in. up to 120 in., inelusive...... An Widths oyer 120 in, up to 125 in., imelnsive...... woe Widths over 125 in. up to 150 in., inclusive...... ae) We CU SE OES i v.54 oc Come area ake sore k ees 1.00 Cutting to lengths or diameters under 3 ft. to 2 ft., NS a ee ee ee eee ee ee 9 Cutting toe lengths or diameters under 2 ft. to 1 ft., inclusive ...... cv ebite s 6b Seen eae ees Sela! eis bias Cutting to lengths or diameters under 1 ft....... 1.55 No charge for cutting rectangular plates to lengths 3 ft, and a TeRMs Net cash 30 days, Sheets.— Makers’ prices for mill shipments on sheets in carload and larger, lots, on which jobbers charge the usual discounts for smalflots from store, are as follows: Blue an nealed sheets, Nos. 8 t0 8, 1.55c. to 1.60c.; Nos. 9 and 10, 1.60c. to 1.65¢.;: Nos. 11 and 12, 1.65c. to 1.70¢.; Nos. 18 and 14, 1.70c. to 1.75¢.: Nos. 15 and 16, 1.80¢. to 1.S85e. One pass, cold rolled, box annealed sheets: Nos. 15 and 16, 1.90e. to 1.95¢e.; Nos. 17 and 21, 1.95e. to 2¢.; Nos. 22 and 24. 2c. to 2.05¢..: Nos. 25 and 26, 2.05c. to 2.10c.; No. 27, 2.10c. to 2.15¢.: No. 28 2.15¢. to 2.20c.; No. 29, 2.20c. to 2.25¢.; No. 30, 2.30c. to 2.35ce. Three pass, cold rolled sheets, box annealed. are as follows: Nos. 15 and, 16, 2c. to 2.05¢c.: Nos. 17 to 21, 2.05c. to 2.10c.; Nos, 22° to 24, 2.10c, to 2.15¢c.: Nos. 25 and 26, 2.145c. to 2.20c.; No. 27, 2.20c. to 2.25e.: No. 28, 2.25¢. to 2.30c. Galvanized sheets, Nos. 13 and 14, 2.45¢.; Nos. 15 and 16, 2.50c.; Nos. 17 to 21, 2.65c.: Nos. 22 to 24, 2.85¢c.; Nos. 25 and 26, 2.95c. to 3c.; No. 27. 3.05c. to 3.10c.; No, 28, 3.25c. to 3.80c.; No. 29, 3.40c. to 3.45¢.: No. 30, 3.60c. to 3.65c. Painted roofing sheets, No. 28, $1.55 to $1.60 per square. Galvanized sheets, No, 28, $2.80 to $2.85 per square, for 2\4-in. corrugations. All above prices are f.o.b. Pittsburgh, terms 50 days net, or 2 per cent. cash discount 10 days from date of invoice. Wrought Pipe.— The following are the discounts on the Pittsburgh basing card on carloads of wrought pipe now in effect: —-S§teel.—, ——-Iron.——~ Black. Galy. Black. Galyv. RA arid) 36" Bs ake ccc cnccsavecs 70 54 66 ie i. Hii. s cended@ Ver seevieeteeae 71 57 7 53 i sk so seed se eee ee 74 62 70 58 % SO OG Os ivewiweVew ints ted ee 7 65 74 64 7 Oe Be OS te oe ple ba eek eke 72 57 68 53 Plugged and Reamed. , S20 4 Biv. os Kes pawn tone aie 76 66 72 62 Extra Strong. Plain Ends. ‘te OS 14s. iD eee eee een 63 5 59 47 an CO. & TB 6 a kK Me ee es eee 70 AS 66 7 A tis A OR ne se 6 aie, ie 66 4 62 0 O10, 1 pe 22 ih. is cees tee 2 Donble Extra Strong, Plain Ends. aS eee on ree et eee 39 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. 2 00 UA Bhi bine 6b 6 ct 0 54 ORE Rees 49 3 1% tO 2M IM... cc eee eevee re eneveesncees 61 43 Tee Me ae ee eee ee bs Fee ORME 6 Ce eee 3 4s 2% to 5B im... . cece cece err eeeeererancens 69 5h O to. SB 6 ik kth ike e's ces ine esones Vises .-61 45 2, in. and smaller, over 18 ft., 10 per cent. net extra. 2% in. and larger. over 22 ft., 10 per cent, net extra, ; Leas than carloads to destinations east of the Mississippi River will be sold at delivered discounts for carloads lowered by two points, for lengths 22 ft. and under ; longer lengths, f.0.b. Pittsburgh. ; Wire Rods.—Bessemer, open hearth and chain rods, $28. Steel Rivets.— Structural rivets, %-in. and larger, 1.90c., base: cone head boiler rivets, %-in. and larger, 2c., base: %-in. and 11-16-in. take an advance of 15e¢., and Yin. and 9-16-in. take an advance of 50c.; in lengths shorter than 1-in. also take an advance of 50c. Terms are 30 days, net cash, f.o.b. mill. “ De SRE ARI I ile thee Rie ea Sot acetal a8 Si Leet Re. a a sg} - nes en tee THE IRON AGE Septembe: THE IRON AND METAL MARKETS Pittsburgh ParK BUILDING, September 28, 1910.—(By Telegraph.) Pig Iron.—A more active inquiry has developed for Bessemer iron and some fair sized sales have been made. One sale of about 3000 tons is reported at a price some- what below $15, Valley furnace, but it is stated the trans- action was really a trade, the buyer giving other material in exchange. Actual sales of Bessemer iron have been made of 2000 tons for October, November and December; 1000 tons for October, November and December, and 1500 tons for January, February and March, all at $15, Valley furnace, and 1500 tons for November and December at $15.25, Valley furnace, this iron to be used in making ingot molds, and a special analysis was involved. New in- quiry for basic and foundry iron is rather quiet, but we note two sales of basic iron, about 2000 tons, at $13.50, Valley furnace, and a sale of 600 tons of No. 2 foundry for October, November and December at $14, Valley furnace. We quote Bessemer iron at $15; basic, $13.50; malleable Bessemer, $14 to $14.25; No. 2 foundry, $13.75 to $14, and gray forge at $13.25, all at Valley furnace, the freight rate for delivery in Pittsburgh being 90c. a ton. Steel.—The market on open hearth billets and sheet and tin bars is being disturbed to some extent -by offerings from several small open hearth plants at lower prices than the larger steel mills have named. Several lots of open hearth sheet and tin bars have been sold at a price equal to slightly less than $25 delivered, Pittsburgh. We also note that several consumers who buy sheet and tin bars on a sliding scale have had their contracis adjusted to the basis of $25, Pittsburgh, for last quarter. We quote Bes- semer 4 x 4 in. billets, $24 to $24.50; open hearth billets, 4 x 4 in., $24.50 to $25; Bessemer amd. open hearth sheet arid tin bars, $25; forging billets, $29 te $29.50, all f.o.b. cars Pittsburgh, Youngstown or Wheeling district. Skelp.—We note a sale of 2500 tons of narrow width grooved steel skelp at 1.40c., Pittsburgh. (By Mail.) A disposition is now shown by buyers to place con- tracts, especially for pig iron, sheets and a few other fin- ished products. The conference of the steel interests in New York ‘recently and the announcement from the Steel Corporation that no wide open cut insteel prices is con- templated have done much to quiet the fear of a demoral- ization in prices. It is the feeling of the large producing interests that prices on steel] commodities are on a fair basis, and nothing would be gained by making a horizontal cut. There will be a material increase in capacity for rolling sheet and tin bars in the Pittsburgh district in the near future. The mills being erected by the Jones & Laugh- lin Steel Company at Aliquippa will likely be ready to op- erate about November 15. The Republic Iron & Steel Com- pany expects to have its new open hearth plant in the Youngstown district in operation early in 1911; it will have eight 60-ton furnaces, blooming and sheet and tin bar mills and will have a capacity of upward of 1000 tons of steel per day. No changes are noted in prices on finished iron and steel with the exception of sheets, which have been a little firmer in the last few days, and specifications are re- ported a little better. The scrap and coke trades continue to drag a good deal with prices ruling about the same. A more hopeful feeling exists. Ferromanganese.—Reports are that two sales of about 500 tons each of foreign ferromanganese have been made for delivery over the remainder of the year at about $39.25, Baltimore, and also a sale of about 500 tons for deliveries running into first half of next year, at the same price. We quote 80 per cent. foreign at $39.25 to $39.50, Baltimore, the rate to Pittsburgh being $1.95 a ton. Ferrosilicon.—No new inquiries of moment are in the market, but some small lots are being sold for prompt ship- ment. We quote 50 per cent. at $56.50, Pittsburgh, for prompt shipment, and $55.50 for forward delivery. We quote 10 per cent. blast furnace silicon at $23; 11 per cent., $24; 12 per cent, $25, f.o.b. cars Jisco and Ashland furnaces. Skelp.—The scarcity in iron plates that has existed for some time, due to the shutdown of a number of puddling mills on account of failure to settle the Sons of Vulcan boil- ing scale, will probably soon be relieved, as an agreement on this scale was reached last week. One of the indepen- dent pipe mills has recently placed contracts with local mills for about 6000 tons of grooved and sheared steel skelp and about 2000 tons of grooved iron skelp, deliveries running over the remainder of this year. We quote grooved steel skelp, 1.40c. to 1.45c.; sheared steel skelp, 1.50c. to 1.55¢.: grooved iron skelp, 1.75c. to 1.80c., and sheared iron skelp, 1.85c. to 1.90c., all f.o.b. Pittsburgh, usual terms. Rods.—Some inquiry is coming out, but Stly for small lots for prompt shipment. Large consumer. ; re pretty well covered by contracts, on which they are sj ifying g a fairly liberal rate. The new rod mill of the Jones & Laughlin Steel Company is running very success’ \)ly, We quote Bessemer, open hearth and chain rods at S28. Pitts. burgh, but on a firm offer for Bessemer rods this price might be shaded. Muck Bar.—The puddling plants of A. M. Byers Co., at Girard, and the Youngstown Sheet & ‘lube Com. pany, at East Youngstown, started up this week, having been idle since July 1. We quote best grades of muck bar, rolled from all pig iron, at $29 to $29.50, Pittsburgh, Steel Rails.—The demand continues quiet. only smajj lots being placed with the Jocal mill. New buying of light rails from the lumber and coal mining interests continues quite active, and the Carnegie Steel Company has a goog deal of tonnage booked for delivery over the remainder of the year. We quote standard sections of Bessemer rails at $28, mill, and light rails as follows: 8 to 10 lb., $52; 12 to 14 Ib., $29; 16, 20 and 25 Ib., $28; 30 and 35 Ib., $27.75, and 40 and 45 lb., $27, Pittsburgh. We quote steel axle at 1.75c. to 1.80c., and splice bars at 1.50c., at mill Structural Material.—The Jones & Lauglilin Steg Company has taken about 1000 tons of steel for the new machine shops and foundry of the Treadwell Engineering Company, Easton, Pa., also a refinery building for the Spencer-Kellogg Company at Edgewater, N. J., 200 tons, and the steel for a freight station for the New York Centra] Railroad at Utica, N. Y., about 150 tons. The American Bridge Company has taken some bridge work for one of the lines of the Erie Railroad in New York State, about 100 tons. New inquiries in the past week have been better, but there is still much complaint over the low prices that ar being named for fabricated work. We quote beams and chan. nels up to 15-in. at 1.40c., Pittsburgh, in large lots, and 1.45c. in small lots. Plates.—There is a complete dearth of car orders and, in fact, very little work is being placed in which plates are used. All the plate mills are badly in need of orders and are being operated at greatly lessened capacity. We quote %4-in. and heavier plates in the wide sizes at 1.40c., Pittsburgh, but for delivery at certain competitive points, and for desirable tonnage, a slightly lower price is sometimes named. On the narrower sizes of plates 1.35c., Pittsburgh, is being done. Sheets.—Specifications on contracts have been better and prices are a shade firmer. It is not believed that the very low price named on sheets for some time by part of the mills has brought out the desired tonnage. One leading sheet mill, under date of September 26, advanced its prices on open hearth steel sheets, one-pass cold rolled, box ar nealed to 2.20c., and announces that it will take contracts for delivery up to May 1, 1911, at above price. It also announces that all outstanding quotations must be accepted or withdrawn not later than September 30. It is stated that one or two other mills have recently withdrawn some low quotations that were not accepted. Box annealed, one-pass cold rolled black sheets, No. 28 gauge, are on the basis of about 2.15¢. to 2.20c., and No. 28 galvanized at about 3.20. to 3.25c., at maker’s mill, in carload and larger lots. Painted and galvanized corrugated sheets are also being materially shaded. Present prices in effect on black, galvanized and roofing sheets will be found on a previous page. Tin Plate.—Conditions in the tin plate trade are fairly satisfactory, but specifications against contracts are not coll ing in as freely as they did some time ago. The McKees port Tin Plate Company will add two more hot mills ~ plant at McKeesport, Pa., giving it a total of 22 hot = s. We quote 100-Ib. cokes at $3.60 per base box, f.0.b. Pitt burgh. Bars.—Encouraging reports are received from tl as to the way specifications against contracts for steel 7 are coming in and which are reported to be quite as hea : as anticipated. New buying is rather light, as nearly consumers covered some time ago and when one needs a bars he is content to order only what he will require 2 a near future. Conditions in the bar iron trade are sae specifications are not coming in very freely, especially the railroads. We continue to quote steel bars at and common iron bars at 1.45c., Pittsburgh. P Spelter.—The spelter market has quieted down, ee a result prices are easier in tone. We rege pe prime grades of Western spelter at 5.40c., East 5'- “4 cs equal to 5.52%4c., Pittsburgh, but on a firm offer an large tonnage this price might be slightly shaded. 16 mills Hoops and Bands.—Specifications against aaa have been coming in more freely, and September see 0 will show an increase over August. New orders are @ . for small lots to cover current needs, but the nei specifications is taken to mean that dealers’ stocks are ae than for some time. Prices are quite firm and we 4 September 29, 1910 “rT ic, in large lots and 1.55c. in small lots; bands, oad and larger lots and 1.45c. in small lots, bject to extras as noted in the steel bar card, S iber J, last year. Reports are that prices are being pretty badly is more or less demoralization. The demand pikes has been very dull for some time, but a ‘ new business is being placed in small rail- spikes. We quote standard sizes of railroad : ve. to 1.55¢e. for Western shipment and 1.55c. 160) ocal trade. We quote small railroad and boat we we, to 1.65¢., base; in carload and larger lots. We t on some orders recently placed on small rail- . local maker has made a price of 1.55c., Pitts- veral other*makers refuse to meet it. There is a fair amount of new business, but st! iall lots. Several local makers of rivets state fications: against contracts have been coming in ter this month than during August. Regular 0c, on structural rivets and 2c. on boiler rivets be shaded from 10e. to 15c. per 100 Ib., depend- rder. Shafting.—The market is quieter now than probably at , ; time this year. Specifications from implement coming in at only a fairly satisfactory rate, automobile makers very little new business is ed. All of the shafting makers are pretty well in back contracts and there is no difficulty in rompt shipments. Regular discounts on shaft- er cent. off in carload and larger lots, and 50 in small lots, delivered in base territory. On ntracts and for large lots 55 and 5 per cent. is Products.—The demand is almost entirely for meet current needs, both jobbers and retailers ) anticipate. It is stated that stocks of wire are lower now than at any previous time this eal ases jobbers in placing orders specify prompt ipme We quote galvanized barb wire at $2; painted, ealed fence wire, $1.50; galvanized, $1.80; wire 1.70, and cut nails, $1.65, in carload and larger lots, Pittsburgh, freight to destination being added. Merchant Pipe.—The present condition of the merchant D s reported by the mills to be quite satisfactory, in quiet conditions ruling in other lines of finished lhe new demand has been fairly active and shows ver last month. The Imperial Window Glass Cor s placed an order with a local mill for 10 miles e pipe, and a lecal pipe concern has received r 50 miles of 3 and 4 in, iron line pipe for im- ery. On the larger sizes the mills are pretty ‘or several months. It is stated that regular both iron and steel pipe, printed on a previous eing well maintained. Prices on iron pipe are strong, due to high prices and scarcity of iron lubes.—The trade in both locomotive and mer- Ss very unsatisfactory, and has been for some s little or no new demand for merchant tubes, road tubes only small orders are being placed. on tubes is absolutely open, each mill making S0iler Coke \ local pig iron interest has bought in the past of 20,000 tons of furnace coke for delivery > furnaces for October shipment at about $1.60 oven. Several makers of standard furnace fused to meet this price and are holding their 1o. No large inquiries for foundry coke are in but prices are fairly strong. We continue to ( makes of furnace coke at $1.60 to $1.65 per en for prompt shipment and $1.70 to $1.75 on C delivery over balance of this year. Prompt ‘2 udry coke is held at about $2.10 to $2.25 to ; nd for the remainder of the year at $2.25 to ve ( ton at oven. The usual allowance of 15c. per prices is made to dealers. The output of coke vlisville region last week was 343,630 tons, an ibout 2000 tons over the previous week. ind Steel Scrap.—There is slightly more activity, cing more disposed to take in material when the ght than they were some time ago. Bundled leavy steel scrap, borings and turnings are the s in the scrap list and a fair amount of tonnage es Is moving. It is not believed, however, that show any material advance until the pig iron vroves. Basie iron at close to $14, Pittsburgh, 'o keep down, more or less, prices on scrap for ~ ‘h purposes, A new user of scrap in the Pitts- R trict is the Standard Steel Car Company, whose a (h plant at Butler, Pa., started to make steel last THE IRON THE IRON AND METAL MARKET. AGE 7 ——=s week, Dealers quote about as follows, per gross ton, for delivery in the Pittsburgh district or elsewhere, as noted: Heavy steel scrap, Steubenville, Fol- lansbee, Sharon, Monessen and Pitts- QU SUE v's Ga cc caceeetccubee $14.25 to $14.50 DEG ROO ONE, 6 iio dedine de d Bevin 14.00 to 14.25 Dee ae ae - CE. bc ss one oh ws nn cme 13.00 to 13.25 Bundled sheet scrap, at point of ship- EY Midi 6 divin ba nd weal cae ee 10.50 to 10.75 Rerolling rails, Newark and Cambridge, Ohio, and Cumberland, Md......... 15.75 to 16.00 No. 1 railroad malleable screp........ 14.00 to 14.25 oR ES aL 12.00 to 12.25 Low phosphorus melting stock....... 18.00 to 18.50 eS EENL AS bicchid woe e646 vanced he 24.50 to 25.00 Se PIs bs c-n' co ce wwe ee .... 21.60to 22.00 Rm 6 eae ae 25.00 to 25.50 ee ne | 12.75 to 13.00 ING, &@ Wee CTE. ww cee 8.50to 8.75 Se OUI ban a cok ee cdc eelala 14.00 to 14.25 Sheet DAS Crem: ends. . 6c ceicsscvivcs 16.00 to 16.25 ee I ne tee dhe ale 8.25 to 8.50 Machine shop turnings............... 9.50 to 9.75 Chicago FISHER BUILDING, September 28, 1910.—(By Telegraph.) There is a general feeling of satisfaction among business men that the corn crop is beyond danger of any serious frost damage. This places the West in a very strong position financially and insures a good foundation for business. No immediate results have appeared thus far ,in the way of im- provement in the iron and steel market. The rumors of lower prices which were given such wide publicity in the d