The Iron Age 1911-02-16: Vol 87 Iss 7

THE IRON AGE © 1855 date teow Thursday by the DAVID WILLIAMS COMPANY 14-18 Park Place, New York Entered at the New York Post Office as Second Class Mail Matter. - ion Price, United States and Mexico, $5.00 per Annum; to Canada, Suber ee Annum ; to Other Foreign, Countries, $10.00 per Annum. Single Copies, 20 Cents. Cuanes T. ROOT, = ° - - - PRESIDENT W, H. TAYLOR, - ° - TREASURER AND GENERAL MANAGER Haroco S, BuTTENHEIM, ” , >" ae > SECRETARY Geo. W. COPE, - - - - - } corrons A, |. Finovey, ° - e ‘a ~ H. R. COBLEIGH, © . - ° . MECHANICAL EDITOR Branch Offices Philadelphia, Real Estate Trust Building Chicago, Fisher Building Pittsburgh, Park Building Cleveland, American Trust Building Boston, Compton Building Cincinnati, 807 Andrews Building CONTENTS, Editorial : PAGB. Two Large Bales Of Pig TGOtis oic.vieidccceccscvesssece 4038 Steel Corporation Production, 1901-1910............. 404 A Better Outlook for the British Iron Trade........ 404 The Engineer in Steel Foundry Practice............. 405 Railroad Securities as Investments...........+0see06. 405 The Crucible Steel Company Secures Controlling Interest in Haleomb Steel Company............. Beer eat Fe. 406 ame Triple Supply Convention...........cscccessvvveses 406 The Associated Foundry Foremen of Philadelphia........ 406 PP RUMOROMS | Sys cdhs Vac Shah Mb obi cas ase ensees 407 The George V. Cresson Company in Receiver’s Hands..... 407 The Chicago Foundry Foremen’s Association.............+ 407 The Iron and Metal Market Reports................ 408 to 417 ree InGauteinl- GORUNG 65 ie eck hs co caches boea wie 417 Me DONG. 65 ein kanal bb aie bie dag 8 90 SS ELS RS ON 417 wae New Minnesota Ore Road. ...s..c0..cecccnsceccsens 418 NT ate. + 0 $:edue i mE ERRREN GE Epa o othah ore ae ewka 418 The Henry Souther Engineering Company’s Laboratory.... 418 The Dodge Quarter Century Club............ Gack W eke Hee 418 en TNOCeANatt gh ena tiaicleh Ibo: ok oink de oh Se we 419 The Yuba Construction Company.............seeeeeeces 419 The Farrell, Kemp & Gushe Company..............+.+++: 419 The Electric Smelting of Swedish Iron Ore............-. 419 Iren Ore List with Lake re er eee ea 420 What Union Labor Is Doing for San Francisco............ 420 RE. 2.0.0 lec veeeetie aun bindu oes ba eaeeebas 421 Our Trade with Latin-America..............eeeeeeeeeees 422 The American Iron & Steel Mfg. Company’s Annual Report. 423 A Bill to Legalize the EE A ok ho 04 66:5 900d DES Oe eS 423 Canada's Steel Bounties May Be Renewed............... 424 The National Electroplaters’ Association..............+.. 42 Machine ‘Too! Awards at the Brussels Exposition.......... 424 The Krupp-Midvale Suit Dismissed.................eees: 424 The National Machine Recorder. Illustrated............. 425 Mop Fioors—1l. Ilustrated........:hecbessccenescees 426 A Large High Speed Flywheel. Illustrated............... 431 New Railroad FPULNORS TIRE cig sip ink ie cst Skee whee 431 potting Iron Ore with Electromagnets...........+..+++: 431 i oe Duplex Miller. Illustrated.......... 432 The es Soe » Ohio...... - ; “ cabs : ee po Returel Gos = pera ge -~ revention of Accidents. Illus. yo The Quebec B - GME TONG. se cs veicest ces geecrecesers 43 FUAGS. cd wide ®. 0 0g DE Ra wie W Cede ESM ON 58 437 Driving Main Rolls of Mills, Illustrated...... 438 The Stee) Conpabaannee aa SE ND 6 oo eee CEN s 0 Ue 442 ) on’s Unfilled Orders. .....5..205 sere. 442 — Wales Geared Power Hack Saw. Illustrated.... 443 - Aemarkable Carborundum Company Products. Illus.. 443 4 Wire Rope of Exceptional Type. Illustrated........... 444 England Foundrymen............. Dias ais 4 itinnonael 445 ie vente Railroad Freight Stations in Philadelphia.... 445 Achinery Market Reports. .....5......s..s00- 446 to 455 B Metal Privy i re gs a ci ea aes 456 tablished New York, February 16, 1911 VoL. 87: No.7 Two Large Sales of Pig Iron Mill Operations on a Larger Scale A Broader Market for Finished Materials in Nearly All Lines The market in finished lines is broadening. The mills are getting the effect of the January improvement in new orders and in the past week running schedules have been fuller all over the country. At the same time the rate at which new business has been entered upon order books has kept up to that of the second half of January, with rails excepted, and in some lines has exceeded it. Pig iron has been active in the Chicago district. At the attractive prices named by Scuthern sellers and met by Northern makers, the leading agricultural ma- chinery interest has bought freely, the total »eing esti- mated at 100,000 tons, deliveries extending through and beyond the third quarter. A pipe company has also taken 50,000 tons of Southern and Valley irons, de- liveries covering the second and third quarters. While pig iron buying has been by no means gen- eral, the amount of business quietly put through has signified both the ‘lowest prices in months and the be- lief of important buyers that they marked the turning point. Quoted prices vary more than for many weeks, and in some districts furnaces are definitely holding out for 25c. to 50c. advance, Following the recent sale of 6000 tons of basic iron at $13.25, at Valley. furnace, one of 3000 tons has been made at $13.50. Furnaces are now holding for $13.75 as a minimum. Bessemer iron is inactive, but a sale of 1250 tons is reported at $15. In semifinished steel prices appear to be firmly maintained. A sale of 2000 tons of open hearth sheet bars has been made at $24, Pittsburgh, and one of 2200 tons of high carbon forging billets at $29, Pitts- burgh. All the steel companies report a larger scale of operations, ranging in some cases from 75 to go per cent. of mill capacity. The Steel Corporation now has 60% per cent. of its blast furnace capacity active, as against 46% per cent. at the low point at the opening of the year. Its statement of unfilled orders January 31, showing 436,000 tons more than on December 31, the first gain in 13 months, quite exceeded the highest prediction. February promises no duplicates for the New York Central and Pennsylvania rail orders and its export total may not be as great. New rail business has been light this month. A 15,000-ton contract for girder rails for the Chicago City Railways has been divided between the Steel Corporation and the Pennsylvania Steel Company, the former getting 10,000 tons. Railroad enterprises in various foreign countries are reported promising and the outlook is for an export trade in American rails equal to the excellent total of 1910. The rail mill of the Illinois Steel Company at South " S. 4 ¥ ca i” . * | Line “4 eee ' : e ¥ «* ; es 28 Pe pe i a Re :% *. oe: * 404 THE IRON AGE February 16, 191) | Chicago, which was shut down when the Gary mill re- sumed last month, will be started next Monday. Both mills have orders that will occupy them until July 1. Among the latest structural contracts are 2800 tons for the new plant of the Corn Products Company at Argo, Ill.; 4400 tons for a bridge over the Arkansas River at Ft. Smith, and 3500 tons for the Cruikshank warehouse in New York. The new Delaware & Hud- son shops will require 4000 tons. On March 15 the Panama Canal Commission will open bids for 12,000 tons of structural steel for emergency dams. The New York Telephone Company is planning a new building that will take 10,000 to 15,000 tons. Plate mills are busier, and some of them reached a 75 per cent. basis last week. A Pittsburgh builder of gas holders has bought 5000 tons of plates for Minne- apolis and St. Louis contracts. Pipe mills are running at 50 to 60 per cent of ca- pacity. Some good pipe lire contracts are pending. The Tri-State Natural Gas Company is inquiring for 70 miles of 3 to Io in. pipe, and the Eastern Oil Com- pany has bought 25 miles of 12-in. pipe. Some wire interests, with their large advance book- ings, have favored a higher price, but there is a strong sentiment against any change unless the spring demand expands unexpectedly. Scrap markets are advancing and speculative buy- ing is a growing factor. Heavy melting steel is par- ticularly strong, advancing 75c. a ton in the Pitts- burgh market this week. Railroads are evidently holding their accumulations for higher prices. Spot tin sold in the New York market February 15 at 45.75¢., against an import price of 43.15c., indicat- ing an active cornering operation right at home. Steel Corporation Production, 1901-1910 On March 31, 1911, the United States_Steel Cor- poration will round out its tenth year, and the anni versary will naturally bring out some interesting com- parisons. Reference was made in these columns re- cently to the United States Steel Corporation's share in the pig iron and the steel ingot production of the country in 1910. Its pig iron output last year was approximately 11,800,000 tons and its steel ingot output about 14,150,000 tons, as officially stated. What is of particular interest in these figures is that the Steel Corporation’s percentage of the country’s pig iron pro- duction last year was exactly, to I-10 of I per cent., what it was 10 years ago in the corporation’s first year namely, 43.2 per cent. This does not answer the question, What percentage of the country’s pig iron producing capacity belongs to the Steel Corporation? That would be somewhat difficult to arrive at. Theo- retical capacity is one thing, but practically available capacity is quite another. A low price for pig iron would rule a certain percentage of furnaces out of be operated except consideration, for many could not at a loss on a level of prices which to others would yield a fair profit. Probably, owing to the conditions prevailing in the second half of last year, which led it to reduce steadily the number of its active furnaces—the curtailment being more drastic than in the case of other companies, over which to some extent it apparently held the umbrella the Steel Corporation’s percentage of the 1911 output was less than its capacity percentage. Further, it has two blast furnaces at Gary, which have never | een tn commission. At all events it is a significant fact thd after 10 years of vigorous blast furnace g Steel Corporation should produce in the ) f high record pig iron output precisely the percentag; first year of operations. The pig iron comparison is not quite \ be, since the Steel Corporation’s pig iron, al! of which enters into steel, is compared with a total in which foundry iron is an important factor. Taking steel gots as the basis, we find that the Steel Corporat was less of a factor last year than in 1901. Th. for both pig iron and steel ingots are as follows The Steel Corporation’s Share of Pig Iron ay Production in-1901 and 1910 PIG TRON. GROSS TONS. I | 1901. 1910. 190 Steel Corporation ..6,859,000 11,800,000 43.9 9 Other producers.......9,019,000 15.498.000 =A 9 STEEL INGOTS. GROSS TONS Steel Corporation . «8,919,000 14,150,000 66.2 Other producers....... 4,554,000 11,150,000* g * Estimated. The estimate of steel ingot production producers other than the Steel Corporatio: on the known fact that the Steel Corporation incr its ingot production of 1909 by 800,000 tons. It is fair to estimate that the other steel interests mad a corresponding increase, which would give them 600,000 tons more than in 1909, when the countr total was 23,955,021 tons. It appears from the figures that whereas the Steel Corporation produced 66.2 per cent. of all the steel of the country in Ig0I, its percent ages in 1909 and I9IO were but 55.7 and 56, resp iy. Such a performance in the two years of th try’s high record production indicates plainly t! has not maintained its original position as a ste ducer. This has taken place in spite of the prodig additions to the corporation's steel making the past Io years, both by new construction absorption of three large competitors—the Union Company, the Clairton Steel Company and nessee Coal, Iron & Railroad Company. A Better Outlook for the British Iron Trade When the statement of British foreign con in 1910 appeared a few weeks ago surprise W pressed that so much complaint should have from iron and steel manufacturers there last Total exports and imports of 1108 million pounds st ling for 1910, against 1071 million pounds 1 year 1907 seemed to spell prosperity for all indust Yet in the iron trade the year was a good of a record one, and at no time did British 1 business satisfactory. There has been at times position among some British steel manufacturers lay their trouble on the free access foreign steel ucts, particularly semifinished steel, have to their ket. But they have never been self-contained and some of their sheet and tin plate and other" have at times found it to their advantage t . ’ . ~ “c+ bod steel Germany's attractive offers on semifinisice Moreover, it has been the British destiny to cra’ ™ materials from without and ship finished product O45 “94° “ acainst 678 million pounds of imports last year, aga aga millions in 1907 and 430 millions of exports 45 a : snanderance 426 millions in 1907 accentuates the preponcers™ I9II ay that is well calculated to foster anti- nt. out of the account influences that may irk in the British iron trade, in contrast nt expansion in the United States and utlook for 1911 is more promising. The d Coal Trades Review cautiously yet rs to it in the following. after noting that ey and promised freedom from labor rospect for all industries seems improved : Trade returns, whatever their defects, must ffording some more or less reliable indica- asure of prosperity the country is enjoying, this instance they are supported by the rec- | earnings, bankers’ clearings and labor sta- iich are of a favorable character, and, even, results of our improved foreign commerce felt, indicate the direction in which we are courage the hope that during 1911 we shall ince along the same road. In the iron and favorable factors in the situation are the ce in the shipbuilding yards, the large nnage on order and the improving freight s likely to lead to further contracts before rise much higher than they are at present. trades, of course, are not entirely depen- ipbuilding industry, but it is their best cus- suintry, and when it is languishing, they can- le when it is flourishing they must fee] the gain a host of other important industries are | shipbuilding and will profit accordingly. . s can be judged by present indications, there ison Why the hopes entertained of a steady rade during 1911 should not be realized and ison why they should. e forecast, based to so large an extent on xport trade, reflects the continued healthy f the world’s iron and steel trade that has d by the increasing exports from the States. With all that is likely to come from the vement at home, the export demand in ounted on to furnish respectable run- to certain mills, particularly in the Pitts- The Engineer in Steel Foundry Practice erican plant which manufactures and numbers of open hearth steel castings, small, has demonstrated that a close re- en the engineering staff and the foun- high proportion of satisfactory cast resent time more than 9o per cent. of the to the shop pass the test of machining ng blowholes. Formerly in the same ings were rather the exception. It was hat the engineering staff, by furnishing itl mold, The key- s was found to lie in very large risers the details of each accom- improvements in practice. entilation. Other details were studied { the experienced foundryman, great be, often savors of guesswork. System in e of records is often lacking. Empirical inot always bring results equal to those (he exact calculations and tests and analyses eer In the works in question, each pattern ith the foundry problem in mind. With the preliminary work is costly, but good obtained. The saving in the waste of ‘clective pieces—a waste that includes labor costs—more than makes up for the ex- (ting down to correct practice in producing sting. THE IRON AGE 405 Not all of the steel foundries do good work. Some users are fortunate in getting what they are after. Others have abandoned the use of cast steel wher- ever drop forgings could be substituted. Of course there is a limit to the expense to which a foundry can The user of castings in which blowholes would be a vital go, unless the customer is willing to pay for it. defect should be willing to pay a high price, if by so doing he can get a high percentage of perfect castings. Probably the engineering side of steel foundry practice is seldom developed to the perfection related in the case cited. The more closely such examples are fol- lowed, probably the greater the success of the industry. Railroad Securities as Investments Events of recent years have cleared up a great deal of uncertainty regarding railroad securities as invest- ments. The efforts of State legislatures and of Con- gress to enact laws that would meet the popular demand for regulation of the railroads have established the fact that these corporations which have built the highways of the country have rights which cannot be assailed. The railroad is entitled to charge rates which will af- ford a reasonable return on its capital, and there is no legislative power, either in the States or the National Government, which can encroach seriously upon this right. This amounts to an indirect guarantee by the Gov- ernment of railroad bonds as investments, and stocks also share in this safeguard so long as they bear a rea- sonable relation to the value of the actual property of investment in the railroad. For all practical purposes, railroad bonds have become as safe an investment as the obligations of the Government. Bonds issued by the National Government have no security except the honor of Congress. The Government might repudiate both interest and principal, and there is no tribunal through which the investor could enforce payment. The note issues of the Continental Congress were ulti- mately redeemed at one cent on the dollar. Other re- publics on this continent have repeatedly defaulted or repudiated their obligations. Bonds issued by our own Southern States during the reconstruction period, after the Civil War, were repudiated to the extent of several hundreds of millions of dollars, and investors have never discovered any means of collecting interest or principal, because there is no court that has jurisdiction to enforce payment. A county, city or other municipal body may issue bonds, and if it becomes bankrupt, either through extravagance or depreciation of its prop- erty, the rights of the investor are limited. When a railroad defaults in the payment of interest on its bonds or other direct obligations, the courts ap- point receivers, whose primary duty is to safeguard the property in the interest of the bondholders. Local rail- have sometimes been sold out in bankruptcy at a loss to the roads, which “ begin nowhere and end nowhere ” bondholders, but such cases have been exceedingly rare in the case of large companies or systems. In the re- ceiverships of 15 years ago, even the holders of junior issues received full value for their securities. During the period of rapid construction, from 1870 to 1890, new railroads, especially in the West, had been financed with long time bond issues bearing 6 and 7 per cent. interest, and in many cases securities had been issued recklessly for amounts far in excess of the actual cost of construc- tion and equipment. The large systems which became ‘ De ~ ie eg Perrys ny cea OM A gas aah apa per 09 2 ce at I ae Rasa mee a a iu ee ae Nth helt eile l cc ok Col wich tae Markie aa ee re 5 We ‘ Ce eal naka de ihe LD eee lilies, <aheatae MS aT S 9 406 THE IRON AGE bankrupt merely broke down under the burden of pay- ing high rates of interest on excessive capitalization. The older railroad systems, which have followed from the beginning the practice of issuing no stock ex- cept for cash paid in by investors, have never failed to pay attractive dividends. As a rule they have paid 5 to 7 per cent. dividends from the beginning, and have continued regular payments for 50 and 60 years. . Dur- ing the past 10 years practically all the large railroad systems of the United States have adopted this con- servative policy of issuing no stock except for cash subscriptions, usually at par. This not only safeguards their underlying bond issues, but has strengthened them financially to such an extent that they were able to earn and pay full dividends in the depression fol- lowing the panic of 1907. Many of the Western railroads which became in- solvent in the ‘90s were “one crop” roads. They were built to open new wheat country, and when the world’s markets became congested with wheat and the price declined, they were unable to earn operating expenses and their heavy burden of interest. With the growth of a new country crops become diversified, industries are established, and the traffic of the railroad is safe- guarded. In all parts of the country the density of traffic increases with the growth of population and in- dustries and thus the earnings of the railroad increase steadily, year after year, and afford a larger and larger margin for the payment of obligations. In the past the railroads have only been able to sell bonds or securities at long intervals, on any large scale, and their purchases of iron and steel. and equipment have been more or less contingent on their ability to sell securities. This has created periods of great ac- tivity and corresponding depression in the steel indus- try. The ebb and flow in manufacturing industries has thus been due to the fact that investors have only been willing to purchase railroad securities, to any large extent, at long intervals when there is no other active demand for money. When the fact becomes recognized that railroad bonds are as safe as those issued by gov- ernments, and in many ways more desirable, the rail- roads should be able to find a more regular market for their securities and thus become more continuous pa- trons of the industries which supply them with mate- rials and equipment. PAI The Crucible Steel Company Secures Controlling Interest in Halcomb Steel Company At Pittsburgh, on February 11, a deal was consum- mated whereby the Crucible Steel Company of America has secured a controlling interest in the Halcomb Steel Company, Syracuse, N. Y. Press reports have had it for some days that the Halcomb Company had been bought outright by the Crucible Company, but this is not cor- rect. No transfer of interests of the Halcomb Company was made until the date named, and that company has not been absorbed by the Crucible Company, but there has simply been an interchange of stock, and the latter company is now the largest stockholder in the Halcomb Company and controls its operations. Forest S. Wilkinson, president and general manager of the Halcomb Company, states that the plant will con- tinue to be operated as an independent works, but at the same time the Crucible Company will direct its opera- tions. The plant of the Halcomb Company was built and put in operation in 1906, Its capacity is slightly above 20,000 tons of high-grade steel per year, part of which is finished into the finer grades of wire, such as needle wire, needles, &c. The company has also furnished a large amount of high-grade steel to automobile builders. February 16, 191; The Triple Supply Convention Marked evidence of the “get together” spirit for tye good of all is the announcement made last wee, that the American Supply & Machinery Manufacturers’ Asso. ciation, the National Supply & Machinery Dealers’ Ajsgo. ciation and the Southern Supply & Machinery Dealey Association are to meet in triple convention at Louisville Ky., April 3, 4, 5. This indicates a very happy Condition of cordiality between the manufacturer, the jobber and the dealer. It shows harmony and general good wij toward each other, an example that might well be fo. lowed by a number of organizations existing for the my. tual benefit of those so associated. The American Supply & Machinery Manufacturery Association is composed of a large number of prominent manufacturers of machinery, power plant accessories and general mill supplies, and has been in existence about seven years. In this time it has accomplished much more in a spirit of uplift, a higher ethical plane and the de velopment of a more comprehensive understanding of good business principles than is common in such organi- zations. A very unique feature is the conduct of a gep- eral promotion or advertising department for the benefit of its members. This involves a general advertising serv. ice of a distinct nature, for which no extra charge is made. This service, if obtained through regular chan- nels, would cost considerably more per year than the nominal dues incidental to membership in the organiza- tion. The triple conventions, above described, enable manufacturers or dealers to attend three conventions at the price of one. The Bureau of General Promotion for the American Supply & Machinery Manufacturers’ Association is locat- ed at 55 Woodbridge street west, Detroit, Mich., and is under the direct supervision of William M. Chamberlin, for many years engaged in general advertising work in the power plant and mill supply field. The general head- quarters of the association are located at 309 Broadway, New York City, under the direction of F. D. Mitchell, secretary and treasurer. Inquiries for further informa- tion relative to the association will receive prompt atten- tion if directed to either office. As a result of the special campaign for new members recently started by the American Supply and Machinery Manufacturers’ Association, the following firms have been added to the membership roll, all having agreed to the declaration of principles of the organization: Muzzy- Lyon Company, Detroit, manufacturer of babbitt metal and belt dressing; Michigan Lubricator Company, De troit, manufacturer of lubricators; Detroit Leather Spe cialty Company. manufacturer of leather packing, &e.; Detroit Twist Drill Company, Detroit, manufacturer of machinists’ tools; Wausau Sandpaper Company, Wat: sau, Wis.; Thomas Grate Bar Company, Birmingham, Ala.; Aurora Tool Works, Aurora, Tll.; Wm. 0. Davey & Sons, Jersey City, N. J.; Cumberland Steel Company, Cumberland, Md.; Wolf Company, Chambersburg, Pa.; Elliott Company, Pittsburgh, Pa. ; Canton-Hughes Pump Company, Canton, Ohio; Boston Belting Company, Bos- ton, Mass.; Ellis-Watson Mfg. Company, Leicester, Mass. ; Longmead Iron Company, Conshohocken, Pa. —_—__~++e—___ . The Associated Foundry Foremen of Philadelphis —The fact that John Birkinbine, the well-known élib* neer, was to make an address on “The Early History of Iron Making” brought out one of the most represen: tative gatherings that has ever attended the —_ meetings of the Associated Foundry Foremen of Phila delphia and Vicinity. The meeting was held in . Manufacturers’ Club, Philadelphia, on the evening . February 14, president Clarence R. Brown occupying chair. Mr, Birkinbine, in his address, took up the a manufacture of wrought iron in India, Asia and Sa ern Africa, and carried his hearers by stages UP er present day methods of manufacture. In the early sgt he said, there was no use for the foundry foreman. * wv the work being done in the forge, but we cannot prais too highly the pioneers whose efforts were beset - many difficulties, who blazed the way for the ag methods and many uses to which iron and steel applied. February 16, 191T New Publications Flementary Practical Mechanics.—By J. M. Jameson. “Round in cloth. Size, 5 x 7% in.; pages, 321; 212 fig- ; Price, $1.60 net. Published by Longmans, « Co., Fourth avenue and Thirtieth street, New York ¢ is an attempt to express practical mechanics e of the processes and structures of every day r than a series of more or less abstract mathe- ( nonstrations. The text has been developed fram gq series of notes issued by the author for several came to his students. Nothing has been included which 4 stood the test of several years’ use with students tary technical courses, and the book is there- adapted for use in elementary, technical or training schools, requiring something between Is text books in elementary mechanics, which are eoretical or too mathematical, and the text books general physies, which do not furnish a sufficiently nlete and practical course. Where the course is to followed by more applied ones in mechanism in en- eering schools, this book can be used for an intro- ry course, e subjects of work, friction and power transmission tests of power brakes and dynamometers are dis- ssed in considerable detail, and a chapter is devoted to elasticity and stress in materials. These parts of the k are supplemented by laboratory exercises and will furnish enongh material for a short course in applied mechanics. General principles and definitions to form the ground work for laboratory exercises are introduced early in e book, and a complete statement of the theory, to- gether with its applications, is then developed through a combination of laboratory work and lectures. As a rule both the graphical and the analytical solutions are indi- cated in statics, so that if desired the use of trigono- metric functions may be avoided without greatly modify- ing the ground covered. In those portions of the book hich deal with the mechanics of moving bodies a spe- | effort has been made to present the matter in a ear and usable form. The fundamental principle of these hodies is applied to familiar instances, such as the ‘ting and stopping of trains, the tension of hoisting pes. &. In approaching the conception of moment of ind radius of gyration the familiar ideas of and reaction and of moment of force are em- . rather than a more abstract mathematical rea- nlnt 1 ver Machine Shop Primer.—By Fred H. Colvin and Frank A. Stanley. Bound in cloth. Size, 6 x 9% in.; pages, l48; 508 figures. Price, $1 net. Published by the McGraw-Hill Book Company, 239 West Thirty-ninth Street, New York City. ; this book is an introduction to machine tools and ) appliances, with illustrations, names and definitions, ia8 been prepared to aid both students and in- ictors in acquiring a knowledge of the names of the les, tools and appliances used in practical shop "he book is divided into three sections. The first ‘uns illustrations of machines, tools and machine “O}) appliances, so that the learner or apprentice can e want a tool looks like, and if desired this section so be used as a sketch book. The next section gives vrrect Dame of every part illustrated. As the proper ic of the names and terms used are an essential ' this work, this division will be found to be a spelling book. Section III. is a very complete ‘erent alphabetically arranged reference book “i ‘nical subjects. All the tools illustrated in sec- I. have a corresponding number to the references in IS section Metal Statistics. Pages, 208; 84% x 6 in.; cloth bound. er ‘hed by the American Metal Market Company, *w York. Price, 50 cents, the ‘11 volume is the fourth issue of this excellent “ca handbook, and this is the third year in which i steel statisties have been included. These have THE IRON AGE 407 been compiled by B. E. V. Luty, Pittsburgh, while the tables on nonferrous metals are the work of C. 8. Jd. French. The iron ore tables include typical analyses of lake ores, shipments from Lake Superior mines and prices for a period of years. The pig iron statistics give stand- ard analyses of foundry irons with prices of various irons in different markets for six years, while annual averages are given for 20 years. Finished products are covered quite completely with tables of prices and production. A new feature under this head is the “ Composite Finished Steel” table. In this the various groups of finished products, apart from rails, are weighted according to their output. Bars, for example, constitute 2% Ib. out of a 10-lb. batch of finished steel, while plates, shapes, wrought pipe and wire are put at 1% Ib. each, sheets at 1 lb. and tin plate at % lb. The price of 1 lb. of the composite product is thus put at 1.74 cents as of January 1, 1911. There is also a “Composite Pig Iron” price table. A page is devoted to a graphic presentation of good and bad years in iron and steel, showing at a glance by the varying lengths of lines drawn to the right or to the left of the year whether it was good or bad, and how it compared in volume of production and in price with other years. The George V. Cresson Company in Receiver’s Hands Webster King Wetherill was appointed receiver of the George V. Cresson Company, Philadelphia, Pa., by decree of the Common Pleas Court, in that city, Feb- ruary 9, and qualified by entering security in the sum of $500,000. The sole purpose of the receivership is the conservation and protection of the property of the com- pany in the interest of the creditors and stockholders. By decree of the court the receiver is authorized to take charge of the property, assets, fixtures and contracts, and to enter into contracts necessary for the conduct and preservation of the business; with authority, if neces- sary, from time to time to sell such property as may be required for the payment of the creditors in full. The difficulties of the company are believed to be but temporary. A large amount of work is on its books, suffi- cient to keep the plant engaged for some months, and it is understood that the business of the company will be continued by the receiver, and that it will not be long until its temporary difficulties will be fully adjusted. + <p o- = = The Chicago Foundry Foremen’s Association.—The annual banquet of the Chicago Foundry Foremen’s Asso- ciation, which was held at the Sherman House on the evening of February 11, proved a highly successful event. Over 150 members and guests were present, including foundry proprietors and officials as well as foremen. Robert M. Thompson of Buffalo, N. Y., president of the American Foundry Foremen’s Association, announced the arrangements that have been made for entertaining foun- dry foremen at the coming Pittsburgh convention. Her- man Lange of the Ferguson & Lange Foundry Company, presented an interesting address on observations in the foundry. George Woodruff of Joliet, Ill, who has just returned from a trip of several months to South America, prior to which he made an extensive tour of the Orient, presented in an able manner the possibilities of foreign trade in foundry and machinery products, especially in Latin-American countries. Former United States Sena- tor William E. Mason of Illinois, talked on American citizenship. —__+_—-.@--———_—_—_—_—- The North Range Iron Company is to be organized in March or April by George J. Maas, Negaunee, Mich., with a capital stock of $500,000, consisting of 100,000 shares of a par value of $5. Mr. Maas estimates that the mine which this company will operate has a deposit of easily 10,000,000 tons of Bessemer hard ore, averaging about 60 per cent. metallic iron and 0.045 per cent. phosphorus, and about 5,000,000 tons of soft hematite ore, both Bes- semer and non-Bessemer, running 60 per cent, iron and 0.036 phosphorus to 55 per cent. iron and 0.237 per cent, phosphorus. tt Soaks en a er. a Rens uth Bl hy = * aps Narita ib ape ey ae ae ace = ecnacemeer . RASPES al: te sae + ee «t am Rete pines » Aig a a GF gi ith tae Wy os Ne a zr SARE A Ni ae A ere a ei ats co ie Sa 5. oS oa ea. ed *s ove. ae nee ee oe ay ie oe bo & ver - » eh we ; eee ase, : anaes Seid - . fcr at , cli . i a ® , 4 ‘SB a TS a eee | 4 . ; vr te os 4 - i * ae s . Ps i. oh ft -_* 408 THE IRON AGE February 16, 191; e lron and | Metal Markets A Comparison of Prices Advances Over the Previous Week in Heavy Type, Declines in Italics. At date, one week, one month and one year previous. Feb. 15, Feb. 8, Jan. 18, Feb. 16, PIG IRON, Per Gross Ton: 1941. 1911. 1911. 1910. Foundry No. 2, standard, Phila |, ee eee ee Ie ee eee $15.50 $15.50 $15.50 $18.75 Foundry No. 2, Southern, Cincin- s tS as. Sietareimaies «2.5.09 14.25 14.25 14.25 17.00 Foundry No. 2, Birmingham, Ala.. 11.00 11.00 11.00 13.75 Foundry No. ®. leeal, Chicago... 15.50 15.50 15.50 19.00 Basic, delivered, eastern Pa.... 14.50 14.50- 14.25 18.50 Basic, Valley furnace.......... 13.75 13.75 13.25 16.25 Bessemer, Tittsburgh.......... 15.90 15.90 15.90 18.90 Gray forge, Pittsburgh....... 14.40 14.15 14.15 16.90 Lake Superior charcoal, Chicago 17.50 17.50 18.00 19.50 BILLETS, &c., Per Gross Ten: Bessemer billets, Pittsburgh.... 23.00 23.00 23.00 27.50 Forging billets, Pittsburgh..... 28.00 28.00 28.00 32.00 Open hearth billets, Philadelphia 25.40 25.40 25.40 30.60 Wire rods, Pittsburgh......... 29.00 29.00 28.00 55.00 OLD MATERIAL, Per Gross Tor on welis, CoeseChO..s oon «sans 15.50 14.50 14.50 19.00 ron rails, Philadelphia. . .... 17.50 17.00 17.00 20.00 Car wheels, Chicago....... .. 13.00 138.00 13.00 Car wheels, Philadelphia....... 18.50 13.00 13.00 Heavy steel scrap, Pittsburgh... 14.50 13.75 13.50 Hieavy steel scrap, Chicago..... 11.75 11.50 11.50 Heavy steel scrap, Philadelphia. 14.00 13.00 12.50 FINISHED IRON AND STEEL, Per Pound: Cents. Cents. Cents. Cents Bessemer steel rails, heavy, at St chs bore aaa. 092 ; 7 1.25 1.25 1.25 1.25 Refined iron bars, Philadelphia 1.35 1.29 1.52% 1.60 Common iron bars, Chicago. 1.50 1.30 1.50 1.60 Common iron bars, Pittsburgh 1.35 1.385 1.55 1.70 Steel bars, tidewater, New York 1.56 1.56 1.56 1.66 Steel bars, Pittsburgh.... ‘ 1.40 1.40 1.40 1.50 Tank plates, tidewater, New York 1.5 1.56 1.56 1.71 Tank plates, Pittsburgh........ 1.40 1.40 1.40 1.55 Beams, tidewater, New York 1.54 1.56 1.56 1.66 Beanw, Pitteburgli............. 1.40 1.40 1.40 1.50 Angles, tidewater, New York. 1.56 1.56 1.56 1.66 Angles, Pittsburgh........ re 1.46 1.40 1.40 1.50 Skelp, grooved steel, Pittsburgh 1.30 1.50 1.25 1.50 Skelp, sheared steel, Pittsburgh. 1.35 1.35 1.30 1.60 SHEETS, NAILS AND WIRE, Per Pound: Cents. Cents. Cents. Cents. Sheets, black, No. 28, Pittsburgh 2.20 2.20 2.20 2.40 Wire nails, Pittsburgh ee 1.75 1.75 1.70 1.85 Cut nails, Pittsbureh 1.60 1.60 1.860 1.80 garb wire, galv., Pittsburgh*. 2.05 2.05 2.00 2.15 METALS, Per Pound: Cents. Cents. Cents. Cents Lake copper, New Yor 12.75 12.75 12.75 13,75 Electrolytic copper, New York 12.3 3 12.37 I 50 13.50 Spelter, New York 5.50 5.55 5.60 Spelter, St. Louis ; ». » 5.30 40 Lead, New York ; 4.45 1.45 t50 Lead, St. Louis... : 1.30 $30 1.35 Tie; OW. TOR... sks 3.75 40.1214 41.75 Antimony, Hallett, New York. . 1.40 4.40 f 7.871 Tin plate, 100-Ib. box, New York $3.94 $3.94 &3.84 These prices are for largest lots te jobbers Prices of Finished Iron and Steel f.o.b. Pittsburgh Freight rates from Pittsburgh in carloads, per 100 Ib.: New York, 16c.; Philadelphia, 15c.; Boston, 18¢.: Buffalo, llc.; Cleveland, 10c.; Cincinnati, 15c.; Indianapolis, 17c.;: Chicago, 18c.; St. Paul, 32c.; St. Louis, 2214c.; New Or- leans, 30c.; Birmingham, Ala., 45c. Rates to the Pacific Coast are SOc. on plates, structural shapes and sheets, No. 11 and heavier; 85c. on sheets, Nos. 12 to 16; 95c. on sheets, No. 16 and lighter; 65c. on wrought boiler tubes. Structural Material.—I-beams and channels, 38 to 15 in., inclusive, 1.40c. to 1.45c., net; I-beams over 15 in., 1.50c. to 1.55¢c., net; H-beams over 8 in., 1.55c. to 1.60c.; angles, 3 to 6 in., inclusive, %4 in. and up, 1.40c. to 1.45c., net; angles over 6 in., 1.50c. to 1.55c., net: angles, 3 in., on one or both legs, less than 4 in. thick, 1.45c., plus full extras as per steel bar card, effective September 1, 1909; tees, 3 in. and up, 1.45c., net; zees, 3 in. and up, 1.40c. to 1.45c., net: 2 angles, channels and tees, under 3 in., 1.45c., n extras as per steel bar card of September 1, 1:09 beams and bulb angles, 1.70c. to 1.75c., net; hand rail to 2.50ec.: checkered and corrugated plates, 2.50c., Plates.—Tank plates, 14 in. thick, 644 in. wy 100 in wide, 1.40c. to 1.45c., base. Following are stipu § pre scribed by manufacturers, with extras to be ane price (per pound) of plates: Rectangular plates, tank steel or conforming { ers’ standard specifications for structural steel dated Ff; 1903, or equivalent, %4-in. thick and over on thinnest wide and under, down to but not including 6 in. wid Plates up to 72 in. wide, inclusive, ordered 10.2 foot are considered 14-in. plates. Plates over 72 be ordered %4-in, thick on edge, or not less than 11 foot, to take base price. Plates over 72 in. wid than 11 1b. per square foot down to the weight the price of 3-16-in. Allowable overweight. whether plates are orde1 weight, to be governed by the standard specificati e As sociation of American Steel Manufacturers. Gauges under \4-in. to and including 3-16-i: Cee ENED... o's 4 die ER eae es oes ; x Gauges under 3-16-in, to and including No. 8 Gauges under No, & to and including No. 9.. Gauges under No. 9 to and including No, 10 Gauges under No. 10 to and ineluding No. 12 Sketches (including al) straight taper plates), and over in) bem |. 6 bo. SE eb soles Complete circles, 5 ft. in diameter and over Boller and Gane steel... . « <csswsctasnra ‘A. B. M. A.” and ordinary firebox steel SEREE CUR TIDE. 5 x 4 0%. 6 aw’ ak ete ee eee Eee BEOGL «soso ss KL he mlees DEE 4h cW eens Locomotive firebox steel......... 0.002 000.; Widths over 100 in up to 119 in., inelusive Widths over 110 in. up to 115 in., inclusive. Widths over 115 in. up to 120 in., inclusive. Widths over 120 in. up to 125 in., inclusive Widths over 125 in. up to 130 in., inclusive i Weems. Gver 200 Oh. . sks cc os 0 cud eabewees « () Cutting to lengths or diameters under 3 ft. to - Ph, SEs hci n km 6 6 b's We Whe ERS c's 25 Cutting to lengths or diameters under 2 ft PC. “WRONG, < coc w'w's'h hs ve dee ee ees Cutting to lengths or diameters under 1 ft. . No charge for cutting rectangular plates to lengths l over. TERMS Net cash 30 days. Sheets.—Makers’ prices for mill shipments on sheets in carload and larger lots, on which jobbers charge the usua discounts for small lots from store, are as follows annealed sheets, Nos. 3 to 8, U. S. standard gaug Lev Nos. 9 and 10, 1.65¢.: Nos. 11 and 12, 1.70c.: Nos, 15 and 14, 1.75¢.; Nos. 15 and 16, 1.85¢e. One pass, cold rolled box annealed sheets, Nos. 10 to 12, 1.85c.; Nos. 15 and 14, 1.90c.: Nos. 15 and 16, 1.95c.; Nos. 17 to 21, 2c.: Nos 29, 23 and 24, 2.05c.: Nos. 25 and 26, 2.10c.: No. 27, 2.15 No. 28, 2.20c.; No. 29, 2.25¢.; No. 30, 2.35c. Thi cold rolled sheets, box annealed, are as follows: No 16, 2.05¢.; Nos. 17 to 21, 2.10c.; Nos. 22 to 24, 2.1 Nos. 25 and 26, 2.20c.: No. 27, 2.25¢e.; No. 28, 2.30c.: N 29, 2.35¢c.; No. 30, 2.45¢e. Galvanized sheets, Nos. 10 11, black sheet gauge, 2.20c.: Nos. 12, 15 and 14, 2.0! Nos. 15, 16 and 17, 2.45¢c.; Nos. 18 to 22, 2.60 Nos, 20 and 24, 2.70c.: Nos. 25 and 26, 2.90c.: No. 27. 3.05c.: 28, 3.20c.; No. 29, 3.30c.; No. 30,.3.50¢. Painted hing sheets, No. 28, $1.55 per square. Galvanized s 5, N 28, $2.75 per square for 2%-in. corrugations \ prices are f.o.b. Pittsburgh, terms 30 days net. é cent. cash discount 10 days from date of invoi Wrought Pipe.—The following are the jobbers discounts on the Pittsburgh basing card on wroug! effect from October 1: suit Weld. ——Steel.—, Black. Galv. Black 4, %, %& in. Re 58 6B Ne SR A ei soe 63 7 7 % to 1% in...... ore: 69 75 aes a Od oe las ; onlig an 70 76 Lap Weld, = , Fa irs oo a seek rere 76 66 ie = ae eae eh .78 38 v4 — 414 to 6 in.... . eae eee 67 7 re eS 8 ees ee 75 59 71 j i BR Se ae ois -: Butt Weld, extra strong, plain ends, card weights. __ Ds Re I oa aS 6. a eet ea aie 69 59 bo ~ ee wos wcsied oo ke Peed 74 68 a - OE ERE Mite ge pchad's Sane 78 72 a ee SOO Ps kako ue aa tk .79 73 7 - Lap Weld, extra strong. plain ends, card weight. Di Sie ites ound ea ni Se 75 6S 71 = OR MIAN BR A ts sf pa ee a ee 77 71 73 7S Boe OO acc chsh baw caee 76 70 72 = FDRG vi's's sas vets eet 6S 59 oo fh Oi 0 cs cxoeeeceaieceen 64 54 ew Butt Weld, double extra strong, plain ends, card weight. Se coc ere ene 6 58 o & tots. Pe oeeS 67 61 we Se DD Oris ohne 53ki HOS esl 69 63 Oe Lap Weld, double extra strong, plain ends, card weight, . © TR ci veers Saha nas oh Cee 65 : 61 9 2 20:6 Oe, .. ceva cies 67 61 63 ee SG BO GOD. inn dnb + inten ae 66 60 62 6 5. DG. th ee eee 59 49 55 e 1911 THE IRON AGE 409 THE IRON AND METAL MARKETS Plugged and Reamed. } in... Butt Weld | eae be sold at two (2) points lower basing (high- er price) than merchant or card wept pipe, Butt .Lap Weld Lor Lap Weld as specified. eo liscounts are for “card weight,” subject to the ri of 5 per cent. Prices for less than carloads are ts lower basing (higher price) than the above dis- Boiler Tubes. Discounts on lap welded steel and char- tubes to jobbers in carloads are as follows: Steel. Iron. errr TT ee ee 49 43 » 0 0.8 6 elite iaibing atiadat ih Sere neal 61 43 0 06.6, Of) 0.66 6mbe Waren e OW habe eee 3 48 9% to 3 iN. cccseces oes s seman ee welds Bae 69 55 d smaller, over 18 ft., 10 per cent. net extra, d larger, over 22 ft., 10 per cent. net extra. carloads to destinations east of the Mississippi | at delivered discounts for carloads lowered by engths 22 ft. and under; longer lengths, f.o.b. Wire Rods.—Bessemer, cpen hearth and chain rods, Steel Rivets.—Structural rivets, % in. and larger, W) cone head boiler rivets, *4 in. and larger, 2c., ind 11-16 in. take an advance of 15c., and % () in, take an advance of 50c.; in lengths shorter take an advance of 50c. Terms are 30 days, ill. eed Pittsburgh VG. February 15, 1911.—(By Telegraph.) Pig Iron.— There is more inquiry for pig iron than for tone of the market is firmer and the advance -. on basic is being held. The American Steel Fou es has bought upward of 6000 tons of basic for its works \lliance, Ohio, and while the price on this iron is inders to have been about $13.25 at Valley furnace, it explained by the fact that the company got options on iron before the recent advance took place. The United Steel Company, Canton, Ohio, has bought 1000 tons of * March and 2000 for April at $13.50, Valley fur- The absolute minimum on basic iron to-day is $13.75, Valley furnace, and most furnaces are holding for $14. A reported of 1250 tons of standard Bessemer iron, 250 tons a month, February to June, at $15, Valley Five or six blast furnaces in the Pittsburgh dis- blown in since the first of the month. We quote B iron, $15; malleable Bessemer, $13.75; basic, SI3.79; No. 2 foundry, $18.75, and gray forge, $13.50, all Valle rnace, the freight rate to the Pittsburgh district ton. Steel.—This week ali of the 54 open hearth furnaces lomestead Works of the Carnegie Steel Company tion, for the first time in some months. In- billets and sheet and tin bars are ‘better and The report of a sale of 2000 tons of open bars at $25, Pittsburgh, the sale being credit- Cambria Steel Company, is absolutely and officially is no occasion as yet for consumers to pay either Bessemer or open hearth steel, as the ple. We note a sale of 2000 tons of open ars, for delivery over the next three months, -+, Pittsburgh, and also a sale of 2200 tons of high e billets at $31, delivered Cincinnati, or $29, We quote Bessemer and open hearth billets, ip to, but not including, 10 x 10 in., at $23, and tin bars in 30-ft. lengths, $24, f.o.b. Youngstown, full freight to destination added. billets at $24 and forging billets at $28, tras for sizes and carbons, f.o.b. Pittsburgh districts, freight to destination added. (By Mail.) ed conditions noted in this report for several Actual orders going to the mills for rolling in for some months. This is shown by the in- itions among the large steel concerns and the a number of additional blast furnaces. The Company is operating this week its entire ' department, comprising 25 furnaces, and run- f eight blast furnaces, and started on Monday vate mill, which has been closed down for a week ack of orders. ‘The Carnegie Steel Company is perations at nearly all its steel plants and has or six blast furnaces this month. The new jiates, structural sieel, tin plate, sheeis and wire ieavier than for some time and promises further “ome quite large orders for line pipe haye been he pipe mills are’ getting busier. Ferro ‘ : ; ‘ ‘'romanganese.—The market is weak, with very lit- ry. Most consumers are pretty well covered for some time ahead. Sales are reported of two cars, or 60 tons, for spot delivery, on the basis of $37.50, Baltimore, the freight rate tro Pittsburgh being $1.95 a ton. We quote 80 per cent. foreign ferro at $37.50 to $37.75, f.o.b. Balti- more, for prompt shipment. Ferrosilicon.—The leading local consumer has bought through a New York house 5000 tons of 50 per cent. ferro- silicon, for delivery over this year. This deal has been hanging for some time and was closed on Monday. The price paid is not stated, but is understood to have been relatively low. We quote 50 per cent. at $54.50, Pitts- burgh, for delivery within the next three or four months. We quote 10 per cent. blast furnace silicon at $23; 11 per cent., $24, and 12 per cent., $25, f.o.b. cars, Jisco and Ash- land furnaces. Muck Bar.—No new inquiry is in the market, and in the absence of sales we quote best grades of muck bar made from all pig iron at $30, delivered in Pittsburgh dis- trict. Higher prices are being quoted on mill iron, and the few makers of muck bar have advanced prices. The muck bar plant of the Kittanning Iron & Steel Company, Kit- tanning, Pa., containing 35 furnaces, is expected to start up February 20. It has been shut down for some months. Skelp.—Prices on the different grades of skelp are firmer than for some time, and the mills have more ton- nage ou their books. One local maker of grooved and sheared iron bars is reported to have its product sold up for the next three months. A sale is reported of 2000 tons of sheared iron plates at about 1.77%4c., Pittsburgh, Pa. We quote grooved steel skelp at 1.30¢., sheared steel skelp, 1.35c.; groov