The Iron Age 1911-03-02: Vol 87 Iss 9

—— plished bens = Published Every Thursday by the DAVID WILLIAMS COMPANY 14-18 Park Place, New York Entered at the New York Post Office as Second Class Mail Matter. Subscription Price, United States and Mexico, $5.00 per Annum; to Canada, $7.50 per Annum; to Uther Foreign Competes $10.00 per Annum. Single Copies, 20 Cents Cuanes T. Root, ° ° - : ” PRESIDENT W, H, TAYLOR, - - - TREASURER AND GENERAL Manacer Hanord S. BUTTENHEIM, - - e e . SECRETARY Geo. W. Cope, - . - - - } eorrone A. |. Finovey, . - - - - MECHANICAL EOITOR H. R. COBLEIGH, - ° . - * Branch Offices Philadelphia, Real Estate Trust Building Chicago, Fisher Building Piasburgh, Park Building Cleveland, American Trust Building Baston, Compton Building Cincinnati, 807 Andrews mas CONTENTS. | Editorial : Pace. SD DUMB... dcp eewes awd vere She's Ch vvees Ons 515 eee Freight Rate Decisiotie «666k cde cece dw edes 516 Ore Prices and Pig fron Pricets .2 4... cc cccctevesiions 517 Unreliable Hixport AgentBs .. 1... .cccrccsesevcccevce 517 / Iron and Steel Company Merger Rumors.............++5 518 Bolt, Nut and Rivet Men Dine Together..............6.. 518 Name Plates on American Machinery........2...++eee0s. 518 Connellsville Coke Interests and Railroad Discrimination.. 519 The American Manufacturers’ Export Association........ 519 Suggestions Wanted for Catalogue Size.........6.0e0005. 519 The Proposed Naval Additions..........-seeseeeee% ror Jones & Laughlin Improvements...........seseeeeeceees 519 The Iron and Metal Market Reports...............: 520 to 529 pen and: Industrial. Stocks... odoccsescaskeccvenctede 530 The Webster Mfg. Company’s New Plant...........-+++- 530 German Steel Shipments EE SU 4 6-56 8S hd bia 8 deo ee 531 SOA: o c'i seo eed Bol. bedwerign teaet a3 420 Bee The Society of Chemical SHOES ii Ss oe C5 Oe SEVERE 533 NE ios. ss TUR, Ome: VOR? | LA 533 Conditions in the FOunGsy TRGWRtry . os ckas acca barece, O88 Cast Iron Pipe Prices from 1900 to 1910, Illustrated...... 534 Officers of the American Institute of Mining Engineers.,.. 53 Railroad UCU CO et a 534 Ferrosilicon Imports to the United Re néiitts « dos't-aa ee 535 Apollo Galvanized Sheets for Culverts... .....0s.ss.eee0s 535 John W, Dougherty;-; Pomigihtied. cal ilies 6 hb sed ho egies 535 Lackawanna Steel COUMMNE E UG: eae ds. 686 - Hilger Revolving Grate Gas Producer, TIllustrated.... 537 “Building Up” Impurities in Stéel.............0cse0e- 537 The General Electric Turbine-Driven Compressor. Illus... 538 Machine Molded Piano Plates. Ilivetrated........ +0008 542 od hit ey Ball Bearing Rotary Hand Punch. Illustrated 544 ~~iinical Engineers’ Spring Meeting.................- 545 arte 24-In. Back Geared Shaper with Speed Box. Wtrated ...... cssib sid cieghameth's face Wb ose 545 er: American Lathes, [lustrated....s, ieee. ces oes 546 Catier.F, webs os a Bellown, Titwsptrated. .........cce0. 548 rn eta ee Current Motor Speed Control- ae fhe Cause tor’ Miah \Priftenssiaksocleiissscescteccees OM ecldent Con “rab Bucket Coal Hoist. Illustrated......... 550 The Ricks, ia : vectua en Ee ee - 551 The Pittsinncei a cal Miller. Illustrated........ vnc cheese rouse The Wi 7 r achine Tool Company's New Plant. voce. 553 te ; tussell Combination Opening Die Machine. a me, india inapolis Industrial Suburb..........+...--. . 554 Shipyara ¢ a ae Illustrated...... beer eceeeees --. 554 Land! saul agieotiiel Sein vid eke AEA SEN kee a 555 Wood & « - . ustable Die Head. Illustrated. . Ra teks :. 556 The Macr, aaa eaming and Drilling Jig. Illustrated.. 556 ee yee arket Reports........... bseees . 557 to 567 * Metal Pregh..iusensseanauan sees Sieve vee pau ae New York, March 2 2, 11 - THE IRON J AGE ae Buying The Effect of the Rate Decisions An Impending Advance in Wire—Bessemer Iron Becomes Active It is too early to say how the iron trade will be affected by the decisions against freight rate advances. There may be some delay in buying by the railroads, and by manufacturers whose product goes largely to railroads. For one thing, replacements and new equip- - ment can now be decided on their merits and not for ulterior reasons. That should not be unfavorable to the steel companies, in view of more than three years of abstemious railroad buying. There is undisguised satisfaction in the iron trade that last week’s decision has put a period to the long round of price advances. That there have been no cancellations of railroad orders now on the books is not surprising, since it is known that the roads placed the material to take care of imperative needs. The present movement in the steel market has had very little help from the rail- roads, and steel manufacturers expect that they will soon be found rather increasing than reducing their scale of buying. The Steel Corporation’s excellent sales for export make its record of new orders in February relatively better than that of its competitors. With a daily aver- age of 35,000 to 40,000 tons of new orders, the Steel Corporation exceeds its January rate; its shipments last month likewise increased. In the past week the large Pittsburgh companies report some slowing down both in new orders and specifications. The Steel Corporation now has 65 per cent. of its blast furnace capacity active, against 62 per cent. one week ago, and meanwhile has reduced somewhat its pig iron stocks. It seems probable that an advance of $1 in wire products will come sooner than has been expected. There is also a possibility of an advance in merchant pipe, which has long been out of its usual relation to other products. The Harriman rail order, which is likely to be for 150,000 tons or more, is expected in the near future. A sale of 2000 tons has been made for a Rio Janeiro street car line.. Japanese interests are negotiating for a considerable tonnage and must close soon in order to avoid the higher duty, effective July 11. A sale of 5000 tons of girder rails has been made to a street railroad in Kyoto. The Wichita & Midland Valley Railway, in Kansas, has bought 7600 tons. The pig iron market shows that buyers are testing the ability of the furnaces to secure the advances re- cently asked. In foundry iron business has been done on the old basis where large amounts were involved. Southern sellers are asking $11.25 for No. 2. at Birmingham, for third quarter, and $11.50 for second half. Actual sales reported for third quarter show a Vou. 87: 5 ib 9 Lah ey he aenensyere nent RNC e ee eee ree ened 2 s r DN Ae . i < Vs ‘ i * eae Da Ee De fi Segoe fae : - Tae ae cE 7 .* - = Pesta a i a Tk Eee eo Pp PAE POs oa Tees a Bae eS ae ta Dae Oe ae St eC SBE ag ig et THE IRON AGE March 2, 191) range from $11 to $11.25. In the Chicago district prices are stronger and considerable inquiry has come out. A sale of 10,000 tons of malleable iron was made at Milwaukee for delivery in the last half of the year. A Chicago pig iron firm has reports from 500 foun- dries which show an average of stocks on hand equal to 70 days’ consumption. Bessemer iron has suddenly become active at Pitts- burgh. Sales of 20,000 tons are reported, half of it to be delivered before June, and the remainder in the second and third quarters, On the later deliveries as high as $15.25 was paid. In basic iron there is con- tinued buying at Pittsburgh. At St. Louis 7000 tons of Missouri basic was sold for the second quarter. A St. Louis melter is in the market for 6000 tons for the last half. The foreign syndicate is reported to have fixed its price at £12 ros. for 50 per cent. ferrosilicon at for- eign port, delivery in the second half of the year, mak- ing the Atlantic seaboard price, duty paid, above $73. A sale of 6000 tons of domestic ferrosilicon has been made to the leading Pittsburgh interest. Sales of ore to eastern Pennsylvania furnaces have amounted thus far to about 500,000 tons of Newfound- land and Spanish grades. For the latter an advance to about 8 cents per unit was asked for shipments in the second half of the year, but this is contingent on the holding of the 1910 price for Lake ores. Some de- liveries of Spanish ores are carried over from 1910; this is the case to a greater extent with Swedish ores. The flurry in the scrap market, which under specu- lative buying advanced prices from 50 cents to $1 a ton, is over. Consumers as a rule have been unwilling to pay the prices reached for melting steel under spec- ulative buying by dealers. The Freight Rate Decisions An event which the railroad companies and general business interests have been awaiting for nine months occurred the past week. The Interstate Commerce Commission announced its decisions on the proposed advances in railroad freight rates. Most unexpectedly, these decisions have been adverse to the railroads. The opinion had been steadily gaining ground that they would be permitted to put at least part of the pro- posed advances in effect. The decisions therefore came as a shock. The railroad companies have been asked to withdraw their proposed increased tariffs be- fore March 10, and if such action is not taken there will be further suspension of the rates and an order issued directing the maintenance of the present rates for a period of two years from March 1o. The commission made an exhaustive examination into all the facts having a bearing on the subject. Hearings were held in different parts of the country and the railroad companies and the shippers were af- forded ample opportunity to present evidence from their respective viewpoints. It must therefore be ad- mitted that the commission has not acted hastily nor without mature consideration of the whole case. The decisions not to permit rates to be advanced were unanimous. Conditions have changed to some extent since the companies announced their intention to advance freight rates. At that time the cost of living was at its highest point, and the problem of how to meet it confronted everybody. Higher wages were being de- manded all along the line and the railroad cOmpanies were obliged to give their employees substantial aq. vances. As the payment of higher wages ieant q con- siderable increase in operating expense, the easiey way for the railroads to maintain satisfactory net earnings was to pass along the burden of higher costs by advancing their freight rates. It is apparent noy that if the Government had not interposed its objection, so that the matter was referred to the commission for its decision as to whether the proposed advances were justified, another potent influence would have heen added to those which have so long made the standard of values in this country higher than elsewhere on the globe. But while the commission has been investigat- ing this subject, giving it the thorough consideration demanded by its importance, prices of staples have fallen considerably, and readjustments of various kinds have been made in business conditions. We have had a sufficient reaction from trade activity to bring about a more sober feeling among business men gen- erally and advances in freight rates at this time would have distinctly been a step in the wrong direction. Apart from this, however, comes the conclusion ar- rived at by the investigation of the commission that the evidence submitted by the railroad companies did not establish the necessity for higher rates. The de- cision of the commission further says that the prob- ability is that increased rates will not be necessary in the future, but that, “if actual results should demon- strate that our forecast of the future is wrong, there might be ground for asking a further consideration of this subject.” Although this decision is by no means pleasing to the railroad companies, and the managers of some of them take such a gloomy view of the immediate fu- ture that they claim they will be obliged to buy less and to pay less for what they buy, it seems to be better for the country at large than if the proposed advances had been agreed to. To accept increased costs as a finality and to endeavor to shift the burden to others would have been to set in motion a new set of in- fluences toward raising the general level of values. The upward tendency had to be checked somewhere. The brake has therefore been applied where it will be felt. Notice is thus given that the railroad companies are not to be placed in a position where they might soon be asked by their employees to agree to another advance in wages. Evidence exist that they are not yet satisfied that the ultimate in this respect has been reached. If the railroad companies put in effect the threats which some managers are now making, and institute more drastic economies than they have yet applied and withhold specifications on orders already placed, the country may for some little time suffer from at cession in business. This will be unpleasant for those affected and might perhaps extend to such a point that some distress would be experienced. This would have to be borne as part of the penalty we have tor @ long time been invoking by our adherence to methods which have been raising the general level of costs. — We cannot believe, however, that the situation wit prove to be disastrous either to the railroad companies or to business interests. It must be understood that the decision involves no reductions in freight rates. It merely stops proposed advances. The revenues of the railroad companies are not to be reduced from the Marcl 2, 19II The railroad companies have been able months to meet the greater expense caused r wages paid to their employees and their not seem to have suffered seriously. If the ‘he commission to permit the railroad com- rease their earnings at the expense of the mpels them to study more carefully econo- eration and increase their efficiency with the ent facilities a great gain will be accom- Ore Prices and Pig Iron Prices t deal has been said in the past few months ing the price of Lake Superior ores for 1911. \erchant furnacemen having no ore supply of their suffered heavily through the decline in pig For the ores they bought last year they nts a ton more than in 1909. They argued tter part of 1909 and the early part of 1910 that as ore prices for 1910 had advanced, pig iron sold livery after the ore of 1910 entered into their s should bring a higher price. Market condi- vere against this theoretical reckoning, how- Not only was: there no advance for pig iron made from the higher priced ore of 1910, but the price f pig iron steadily declined, and some furnacemen have sold iron at a Joss to get out from under the ore piles based on the high ore prices of I9g10. For some months the Lake Superior ore producers e been hearing that if furnacemen’s wishes are con- sulted, no reduction will be made in 1911 from the ore price of 1910. It has been argued that furnacemen would have no recourse but to charge off the amount i the reduction on the piles of ore which they must y into the new season of navigation, amounting to eral million tons. The harrowing experiences of e of the furnaces in the past six months have been cited, furthermore, as an argument for stable ore prices ver a period of years. It has been urged that if there ild be general assurance that the price of ore would fluctuate little or not at all, greater stability would be mparted to the pig iron market. history of pig iron prices scarcely bears out the argument that its course has any close relation to fluctuations in ore. We may take as an example | remembered year, 1899. The ore producers hint when their prices were fixed, on a basis 52.95 for old range Bessemer ores, that the pig iron uld soar far beyond the levels of the pre- ir. Bessemer pig iron had ranged between Sti, Pittsburgh, for most of the year 1898. s a slight advance in the early part of 1869, zathering momentum of the buying movement was. not appreciated. The fact was, how- ' from an average price of $10.87 in January, ‘semer iron rose by successive leaps until it average of $24.90 in December of that year. en, who had asked the most moderate margin 1899, based their price of 1900 on the pros- pig iron men had enjoyed in the preceding ng it at $5.50, the highest level in 15 years, exception of 1887 and 1890, and one that has reached since, -The furnacemen, who had taken up all the $2.95 ore offered in the spring ere not so keen to buy at $5.50 the year fol- 1+ t all made round purchases in view of their THE IRON AGE 517 handsome profits from the boom. However, 1900 showed almost a complete reversal of the conditions of 1899. Whereas the price of Bessemer pig iron aver- aged $24.99 for January, 1900, it had fallen to $13.06 by October of that year. With fluctuations in the price of pig iron amounting to more than $14 in a single year, it can hardly be said that the price of ore is very influential in determining the price of pig iron. The experience of the past year, in fact, with the recession in pig iron scarcely inter- rupted by its arrival at the cost mark for ore, bears heavily against the argument for stable ore prices as a means to a stable pig iron market. There is no blinking the fact that the merchant furnaceman, who must pay the merchant oremen’s price, is at a disadvantage in competing with the grow- ing list of pig iron sellers who mine their own ore in whole or in part. Yet it is to be said that the percent- age of Lake Superior ore that goes upon the market is much smaller than it was 10 years ago, and the price on that percentage is given an exaggerated importance in all discussions of ore prices as related to the price of pig iron and of finished steel. Naturally, the lower the merchant ore price is, the less the handicap of the merchant furnaceman without ore supply, in compet- ing with the consumer of ore who is at the same time a producer. But a stable low price of ore would not be satisfactory to the ore producer; and, moreover, the particular price the furnacemen are now interested in having maintained is not a low one. So far as the merchant furnaces are concerned which produce steel making pig iron, their future would seem to be bound up in the very fluctuations in pig iron prices which it is now argued should be avoided. They are becoming more and more opportunists. Their profits will come from those swells in the iron market which find the steel companies with less furnace ca- pacity than will meet’ the demands of their finishing mills. In the case of the foundry iron furnaces, more- over, there is no reason to look for any change from the alternations of rising and receding prices which have marked their business heretofore. The past year of declining prices and disappearing profits must be averaged up with prosperous years in which pig iron profits were inordinate. Concern about costs of raw materials is great when prices hover about the cost line; when the market is soaring, raw material costs are forgotten. It will be so again. Unreliable Export Agents In the last three years many American manufactur- ers have had their first experience in export business, and some of them have had expensive lessons through their lack of knowledge of foreign trade. A great deal of money has been spent to little purpose, but most of the useless expenditures have merely gone to swell the receipts of unscrupulous export agents. The un- sophisticated manufacturer who has never sought busi- 1ess outside of his own country is liable to consider any export agent’s proposition with favor, but if he falls into the wrong hands it is likely to be an expensive and unfruitful experience. There are plenty of export houses whose managers know the foreign trade thoroughly and whose dealings are honest. They will not accept a selling agency to which they cannot do justice. On the other hand, | ; {2¢ i H aEerennn oo OTe ca rs he Oe ae eee ae aaa Brg ee Seabee! ahaa” Boil det chee EN gt ee Waele AT aoe i iat ae eels Se ia a ile aloe te Hla ba. pal eG eae PLT alk Mg PE OF ia Bi as «a At Seca Fi ac Mai Sle a al ms =, et ie ~Saeea ests sar Se eS 28 oe $s vied +4 no + ha 0 a BO CLL SSE laleaniede a sar k 518 THE IRON AGE March 2, 1934 there are too many so-called export traders who are simply in the business for what they can get out of this country. Their chief aim is to establish as many American connections as possible, with no regard to their ability to effect sales. It is their usual practice to demand a retainer as “ export manager,” and to de- mand a commission on all foreign sales, regardless of the source of inquiry. They send out salesmen loaded with lines of samples with which they are unfamiliar, and who go about in a haphazard way seeking trade. Most of their orders are obtained through good luck rather than good management, and too often their sales are not made to reliable customers. An experienced export salesman who carried just seven lines of equipment, all connected with power transmission, recently encountered one of these export representatives in a machinery supply house in Aus- tralia and asked him what his line was. The newcomer explained that he represented 54 different companies and when questioned admitted that he could not name them all. “Even a grocery clerk could not name 54 different articles from memory,” was the indignant de- fense of the salesman when his statement created amusement. It is quite probable that many of the manufacturers represented by this salesman got very little in return for their outlay. Another instance of the folly of trusting foreign accounts to such concerns is shown in the experience of an American mill supply manufacturer, whose line of samples was sent on a year’s tour with a representa- tive of an export firm. On the salesman’s return the manufacturer, who had become dissatisfied with the service given, demanded the samples. The export house gave him an order to obtain the goods at the steamship dock and they were found wrapped just as they had left the factory. The seals on the wrappings had not been broken. There are plenty of legitimate export houses whose salesmen are specialists in certain lines, Manufactur- , ers seeking export business should endeavor to find such houses. They should at least be as careful in making export connections as in arranging for domestic sales agencies. eee Iron and Steel Company Merger Rumors.—Rumors of combinations in the steel industry have been frequent of late. In addition to the reported efforts to merge two Wheeling district companies and the alleged revival of a project for uniting two Alabama companies, there has been a rather circumstantial report of negotiations by prominent steel men for a merger including a Pittsburgh, a Youngstown and a Chicago district steel company, the products involved being wire, sheets, bars and wrought pipe. This last report, it can be stated on authority, is unfounded. ee The annual meeting of stockholders of the Wheeling Steel & Iron Company was held at Wheeling, W. Va., February 15. The annual report submitted by C. R. Hubbard, president, showed that the net earnings for the past year were $701,000, of which $500,000 was dis- tributed among stockholders, being a dividend of 10 per cent. on a capital of $5,000,000, leaving a surplus for the year of $201,000. The directors were re-elected as follows: C. R. Hubbard, W. F. Stifel, George K. Wheat, W. A. Isett, Edward Hazlett, H. H. Hornbrook. The Decatur Bridge Company, Decatur, IIL, has in- creased its capital stock from $100,000 to $200,000, but it does not contemplate any additional improvements at this time. Bolt, Nut and Rivet Men Dine Togethe; Through the efforts of A. Schoonmaker, Woe: ern Saleg manager of the Graham Nut Company, the Western rep. resentatives of bolt, nut and rivet manufacturers met fop a banquet at the Congress Hotel, Chicago, on the evening of February 22. Those in attendance were: W. J. Phalen. Buffalo Bolt Company. A. Schoonmaker and C, J. Graham, Graham Nut « any J. F. Donahue, Russell, Burdsall & Ward Bolt & Nyt Con, Frank W. Davis, Lake Erie Iron Company. R. P. Zint, Republic Iron & Steel Company. Chas, W. Clark. Paul Wendt, Steel Car Forge Company. B. 8. Handwork, National Bolt & Nut Company. A. U. Klingman, Bourne-Fuller Company. J. W. O'Leary, Arthur J. O’Leary & Son Company P, Joyce, Illinois Bolt, Nut & Forging Company. Theo. Geissman, Theo. Geissman & Co. D. P. Donelson and E. Ahrens, Continental Bolt & Iron Wo ks W. H. Darrah, Upson Nut Company W. H. Taylor and T. F. Donahue, Central Steel & Supply pany. 7 Max Jones, Buffalo Nut Company. Charles Phalen, Garland Nut & Rivet Company. Company, Mr. Schoonmaker acted as toastmaster, and, in his introductory remarks, stated the purpose of the gather. ing, which was to bring together on a social footing the representatives of the various bolt, nut and rivet manu. facturers in the Western section of the country, and to promote friendship and harmony among them. The af- fair was essentially social in nature, and all present entered into the congenial spirit of the occasion. The set speeches of the evening were as follows: “Chicago: Its Present and Future,” Judge Fred L. Fake; “ A Survey of the Field,” Ralph P. Zint; “ Salesmanship,” Chas. J. Graham; “ Co-operation,’ Frank W. Davis; “The Law and Trade Associations,” James S, Wilkerson. It was resolved that some form of organization be arranged, with a view toward maintaining the cordial relations estab- lished by the banquet, and that a similar gathering be held at least annually hereafter. pnn consis ilitilili teased Name Plates on American Machinery C. A. Tupper, Milwaukee, Wis., who is now in Europe, writes as follows regarding some observations he made en voyage: During a visit to Ponta Delgada, the capital of the Azores Islands, the writer was gratified to find a large woodworking plant, operated by Coelho & Rosa, which has been completely equipped, from band saw to molders, mortisers, &c., with American-built machinery. Of greater significance to our export trade, however, is the fact that from several of the machines, which were u- mistakably of recent manufacture, the name plates had been removed, and the manager could not recall the ad- dresses of the makers. Nor did he remember just why or how they had disappeared, except in the case of one of the planers, which appeared to be of the 8. A. Wood Machine Company’s design. This had been slightly re paired by a local smithy, and, in getting at the broken part, the name plate was wrenched off, only to be cast aside. The careless or intentional removal of name plates is common enough in our own country, but when Amer- ican-built machinery suffers this mutilation abroad, the matter is one of more vital import. The reasons are obvious. Most of the machines in the plant above met: tioned had the names of the manufacturers cast in the frame, and this is undoubtedly. the sensible thing to do. A separate brass plate for giving other details may be desirable, but the maker’s name and the pattern number should appear prominently and ineradicably on the main part of the machine. It is even well to have the letters indented, rather than raised, for unscrupulous — in re-handling, do not hesitate to chip them off. Loc jealousy of foreign-built machinery also leads to much intentional mutilation. As the same precautions are of service in domestic trade, they would seem to be well worth the attention of American manufacturers, to ag this observation in one of the principal outports ° Europe is respectfully referred. gil Marc! Connellsville Coke, Interests and Railroad Discrimination Oy the evening of February 17 Isaac W. Semans gave oner to the merchant coke producers and others in- 2 the development of the Connellsville region ntown Country Club, Uniontown, Pa. Over 75 eSel An account of the dinner was published nnellsville Courier of February 18. Ernest H. Bows secretary of the Coke Producers’ Association, was r, and in his introductory remarks gave a his- ry of that organization and made a strong plea for its etter support. ‘| incipal address was made by Howard D. Man- ommissioner of the Ohio Coal Operators’ As- ). who first dwelt on the necessity of a stronger vation for mutual advantage and then launched seathing arraignment of the discrimination against Connellsville coke interests by the railroads which con- ( . region with centers of consumption. Making ‘he assertion that “the coke rates from the Connells- e region are unreasonable by every standard to which ey ay be applied,” he presented an array of statis- <: drawn from official sources to support his conten- One of his conclusions was that, as compared with her commodities hauled, coke is bearing more than its ve of the burden of sustaining the transportation es. He further showed that other coke producing dis- tricts enjoy lower freight rates in reaching certain con- suming centers. John P. Brennan, president of the liompson-Connellsville Coke Company, made an address somewhat along the same lines. John W. Boileau, coal ud coke expert, Pittsburgh, aroused the enthusiasm of iis hearers by showing the great extent of territory which the Connellsville region would supply exclusively with coke if fair and nondiscriminatory freight rates were artanged. Other speakers were Henry P. Snyder, editor of the Courier, and James R. Cray and B. D. Ful- ton, Uniontown, attorneys and collateral coke operators. wana idee idea The American Manufacturers’ Export Association Henry T. Wills, whose name has been long associated vith foreign trade matters and who is considered an ex- ert on conditions and methods prevailing in foreign untries. has been engaged to act as secretary for the \inerican Manufacturers’ Export Association, 1 Madison ivenue, New York City. He performed notable work as secretary of the National Tariff Commission Association. lt is hoped that the new association may be made a body f such power as not only to foster foreign commerce to prove a force in securing from time to time legis- | which will prove an uplift to our manufacturers ( will impress buyers and consumers as well as com- titors in foreign markets. \inong the members of the American Manufacturers’ Uxport Association and those who are taking a vital in- erest in its management are the following: Adriance- att Company, Borden Company, Henry Disston’s Sons Company, Du Pont de Nemours Powder Company, Hast- Kodak Company, C. A. Edgarton Mfg. Company, reneral Electric Company, H. J. Heinz Company, Na- Cash Register Company, Perkins-Campbell Com- Sargent & Co., Sherwin-Williams ‘Company, Si- Mfg. Company, Studebaker Brothers Company, Talking Machine Company, Westinghouse Blec- « Mfg. Company. a _ Suggestions Wanted for Catalogue. Size.—The Jenneherry Company, 552-556 Wabash avenue, Chicago, ‘\hout to publish a general catalogue of tools for metal rsers and woodworkers. It is to be a standard work, “sucd quarterly. The company desires to learn the opin- ' the trade as to the best size of such a publication iversal service. The book will have 1000 pages, ' is desirable to adopt for it a size that will be \pproved by the manufacturer, dealer and con- The sizes which are under consideration are 6 ‘" i). 7X 10 in, 8 x 11 in. and 9x 12 in. The sugges 's should he addressed to the company. THE IRON AGE The Proposed Naval Additions The Naval Programme bill, as passed last week by the House of Representatives, provides for the construction of two new battleships, two fleet colliers, eight torpedo boat destroyers and four submarine torpedo boats. The two battleships are to be the largest ever constructed in this Country, and while the authorization fixes the dis- placement of these superdreadnoughts at 27,000 tons, there is a likelihood that they may go up to 30,000 tons. The new battleships will have 12 14-in. rifles, the heav- iest battery ever placed on a ship in this country or in the world. These guns will be arranged in four turrets, three guns in each turret. The bill carries the following provisions, adopted on motion of Representative Stanley of Kentucky: Provided, That no part of any sum herein appropriated shall be expended for the purchase of structural steel ship plates, armor, armament or machinery from any persons, firms or cor- porations who have combined or conspired to monopolize the interstate or foreign commerce of the United States, or the com merce between the States and any Territory or the District of Columbia in any of the articles aforesaid, and no purchase of structural steel, ship plates or machinery shall be made at a price in excess of a reasonable profit above the actual cost of manufacture. And no purchase of armor or armament shal! be made at a price in excess of 100 per centum above the actual cost of manufacture, but this limitation shail in no case apply to any existing contracts, Provided, That no part of this appropriation shall be ex pended for the purchase of armor or armament from any person, firms or corporations who have entered into any combination, agreement, conspiracy or understanding, the effect, object or purpose of which is to deprive the Government of fair, open and unrestricted competition in letting contracts for the fur- nishing of any of said armor or armament; and no purchase of armor or armament shall be made at a price in excess of 100 per centum above the actual cost of manufacture. Another proviso declares that “no part of the money shall be paid to any person, firm or corporation which has not at the commencement of and during the construc- tion of the work for which this appropriation is made, established an eight-hour workday for all employees, laborers and mechanics engaged in doing the work for which this money is appropriated.” Oe C—O Jones & Laughlin Improvements No. 3 blast furnace of the Eliza group of the Jones & Laughlin Steel Company, Pittsburgh, has been blown out and will be completely rebuilt. The fyrnace was built nine years ago and in that time has made a total of 1,566,110 tons of pig iron on the original lining. The work of rebuilding this stack will be done entirely by the Jones & Laughlin Steel Company, as in the case of stack No. 1 of the same group, which was torn down and re built in the record time of 95 days. The company has placed a contract with the Standard ingineering Company, Ellwood City, Pa., for the building of another unit of 12 hot tin mills at Aliquippa, Pa., which will make a total of 24 hot mills, 12 of which have been in operation since last summer. The plant is laid out to accommodate 36 hot mills, but the other 12 will probably not be built for some time. ee Reports have appeared in the daily press that the La Belle Iron Works, Steubenville, Ohio, and Wheeling Steel & Iron Company, Wheeling, W. Va., will consoli- date their interests into one company. It is officially stated that some preliminary work has been done by representatives of both companies with a view of merg- ing them, but the matter is merely in a preliminary stage and nothing may come of it. Lake shipbuilders will be asked within a few weeks to submit bids for a new car ferryboat to be built by the Mackinaw Transportation Company for service in the Straits of Mackinaw. The boat will be 352 ft. long, 60 ft. wide, and will have capacity for 25 cars as well as passenger accommodations. Frank E. Kirby, Detroit, Mich., is preparing the plans. The American Shipbuild- ing Company has just closed a contract for a 165-ft. sand sucker, which will go to an upper lake port. ean Wena cn) at 10 Sly Sealer RE EE SU 8 Sie ey ty PO eth the > oe wv ; } ' ' 4 ; ¥ ae aaeey as, acuta Nl ciel eee Vet ad ails os teste Be eR a fot hid CER * pin Lak g, dainasiel E> s ee: _— aS OE Te bee * Som Ross Seg ee yan, rit? ae ae 520 THE IRON AGE March 2, 1911 The Iron and 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, Mar. 1, Feb. 21, Feb. 1, Mar. 2, PIG IRON, Per Gross Ton: 1911. 1911. 1911. 1910. Foundry No. 2, standard, Phila- GHA, | can 5+ dcbb oR hu chs «8 $15.50 $15.50 $15.50 $18.00 Foundry No. 2, Southern, Cincin- WR Sc ccantaneweewenans ses 14.25 14.25 14.25 16.75 Foundry No. 2, Birmingham, Ala. 11.00 11.00 11.00 13.50 Foundry No. 2, local, Chicago... 15.50 15.50 15.50 18.50 Basic, delivered, eastern Pa.... 15.00 14.50 14.25 18.50 Basic, Valley furnace.......... 13.75 138.75 13.25 16.00 Bessemer, Vittsburgh.......... 15.90 15.90 15.90 18.90 Gray forge, Pittsburgh......... 14.40 14.40 14.15 16.15 Lake Superior charcoal, Chicago 17.50 17.50 17.50 19.50 BILLETS, &c., Per Gross Ton: 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, Pitisburgh......... 29.00 29.00 28.00 33.00 OLD MATERIAL, Per Gross Ton ; Iron rails, Chicago...........- 15.50 15.50 14.50 19.00 Iron rails, Philadelphia....... 18.50 18.00 17.00 20.00 Car wheels, Chicago........... 13.25 13.00 13.00 17.00 Car wheels, Philadelphia....... 14.00 14.00 13.00 16.75 Heavy steel scrap, Pittsburgh... 14.75 14.75 13.50 16.50 Heavy steel scrap, Chicago.... 12.00 12.50 11.50 15.00 Heavy steel scrap, Philadelphia 14.50 14.50 12.50 16.50 FINISHED IRON AND STEEL, Per Pound : Cents. Cents. Cents. Cents Bessemer steel rails, heavy, at OE Sivas tiieietai dae cea sae 1.25 1.25 1.25 1.25 Refined iron bars, Philadelphia. 1.37% 1.37% 1.30 1.60 Common iron bars, Chicago.... 1.271% 1.30 1.30 1.55 Common iron bars, Pittsburgh... 1.35 1.35 1.35 1.65 Steel bars, tidewater, New York 1.56 1.56 1.56 1.61 Steel bars, Pittsburgh......... 1.40 1.40 1.40 1.45 Tank plates, tidewater, New York 1.56 1.56 1.56 1.71 Tank plates, Pittsburgh........ 1.40 1.40 1.40 1.55 Beams, tidewater, New York... 1.56 1.56 1.56 1.66 Beams, Pittsburgh............. 1.40 1.40 1.40 1.50 Angles, tidewater, New York... 1.56 1.56 1.56 1.66 Angles, Pittsburgh............. 1.40 1.40 1.40 1.50 Skelp, grooved steel, Pittsburgh. 1.50 1.30 1.30 1.50 Skelp, sheared steel, Pittsburgh. 1.35 1.35 1.35 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*........ 1.75 1.75 1.75 1.85 Cut nails, Pittsburgh......... 1.60 1.60 1.60 1.85 Zarb wire, galv., Pittsburgh*... 2.05 2.05 2.05 2.15 METALS, Per Pound: Cents. Cents. Cents. Cents. Lake copper, New York........ 12.75 12.75 12.76 18.75 Electrolytic copper, New York.. 12.3714 12.3714 12.37% 13.37% Spelter, New York............ 5.70 5.60 5.55 5.75 Gpelter, St, Louis... ..- scree 5.55 5.45 5.40 5.60 Sn Si) Cis. + 5 6b bibs ule' me > 4.40 4.42% 4.50 4.65 Nn Oe Es S56 os bce new es > 5.25 4.27% 4.32 4.50 a, | A SOM werk es shaves 52.25 44.75 42.75 32.87% Antimony, Hallett, New York... 9.25 8.00 7.75 8.25 Tin plate, 100-lb. box, New York $3.94 $3.94 $3.84 $3.84 * These prices are for largest lots to jobbers. Prices of Finished Iron and Steel f.o.b. Pittsburgh Freight rates from Pittsburgh in carloads, per 100 lb.: New York, 16c.; Philadelphia, 15c.; Boston, 18c.; Buffalo, 1le.; Cleveland, 10c.; Cincinnati, 15c.; Indianapolis, 17c.; Chicago, 18c.; St. Paul, 32c.; St. Louis, 2244c.; New Or- leans, 30c.; Birmingham, Ala., 45c. Rates to the Pacific Coast are 80c. 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, 3 to 15 in., inclusive, 1.40c. to 1.45c., net; I-beams over 15 in., 1.50c. to 1.55c., 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; Metal Markets angles, channels and tees, under 3 in., 1.45c., base. plus ful) extras as per steel bar card of September 1, i909. deck beams and bulb angles, 1.70c. to 1.75¢., net; hand rail tees 2.50c.; checkered and corrugated plates, 2.50c. ne : Plates.—Tank plates, 4 in. thick, 6% in. up to 100 ip wide, 1.40c. to 1.45c., base. Following are stipulations = 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 ¢ 1903, or equivalent, %-in, thick and over on thinnest edge 100 in’ wide and under, down to but not including 6 in. wide, are base. ° Plates up to 72 in. wide, inclusive, ordered 10.2 jb. per square foot are considered \%-in, plates. Plates over 72 in. wide must be ordered %4-in, thick on edge, or not less than 11 Ib. per square toot, to take base price. Plates over 72 in, wide ordered jess than 11 Jb. per square foot down to the weight of 3-16-in. tax the price of 3-16-in. ee Allowable overweight, whether plates are ordered to gauge or weight, to be governed by the standard specifications of the As sociation of American Steel Manufacturers. : Gauges under \%-in. to and including 3-16-in. on CNOE GUC i 6 0.0 chives cake eeWarwenscess.-..90.10 Gauges under 3-16-in. to and including No. 8 15 Gauges under No, 8 to and including No, 9 25 Gauges under No. 9 to and including No, 10..... 30 Gauges under No. 10 to and including No. 12..... 40 Sketches (including all straight taper plates), 3 ft. ee GC. re eee 10 Complete circles, 3 ft. in diameter and over...... 20 a DO RR peo ee 10 “A. B. M. A.” and ordinary firebox steel........ 20 Ee eo a a .30 DEOTRIG StOCl. . oo oc ceice cs we cues DEN EU a's % es secs 40 Locomotive firebox stéeh oo. seco eck cece cee 50 Widths over 100 in up to 110 in., inelusive...... 05 Widths over 110 in. up to 115 in., inclusive...... 10 Widths over 115 in. up to 120 in., inclusive...... 15 Widths over 120 in. up to 125 in., inclusive...... .25 Widths over 125 in. up to 130 in., inclusive...... 50 ON ae are ee ea 1.00 Cutting to lengths or diameters under 3 ft. to 2 Sg er Ee a a ee 25 Cutting to lengths or diameters under 2 ft. to 1 fb.5 WROIUNSVG. oS weiss veces Poe et Sere Mecee: (OO Cutting to lengths or diameters under 1 ft........ 1.55 ouiht charge for cutting rectangular plates to lengths 3 ft. and 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 small lots from store, are as follows: Blue annealed sheets, Nos. 3 to 8, U. 8. standard gauge, 1.55c.; Nos. 9 and 10, 1.65c.; Nos. 11 and 12, 1.70c.; Nos. 13 and 14, 1.75¢.; Nos. 15 and 16, 1.85e. One pass, cold rolled, box annealed sheets, Nos. 10 to 12, 1.85c.; Nos. 13 and 14, 1.90c.; Nos. 15 and 16, 1.95c.; Nos. 17 to 21, 2c.; Nos. 22, 23 and 24, 2.05c.; Nos. 25 and 26, 2.10c.; No. 27, 2.15c.; No. 28, 2.20c.; No. 29, 2.25¢c.; No. 30, 2.35c. Three pass, cold rolled sheets, box annealed, are as follows: Nos. 15 and 16, 2.05c.; Nos. 17 to 21, 2.10c.; Nos. 22 to 24, 2.15c.; Nos. 25 and 26, 2.20c.; No. 27, 2.25c.; No. 28, 2.30c.; No. 29, 2.35c.; No. 30, 2.45c. Galvanized sheets, Nos. 10 and 11, black sheet gauge, 2.20c.; Nos. 12, 18 and 14, 2.30c.; Nos. 15, 16 and 17, 2.45c.; Nos. 18 to 22, 2.60c.; Nos. 23 and 24, 2.70c.; Nos. 25 and 26, 2.90c.; No. 27, 3.05c.; No. 28, 3.20c.; No. 29, 3.30c.; No. 30, 3.50c. Painted roofing sheets, No. 28, $1.55 per square. Galvanized sheets, No. 28, $2.75 per square for 2\%-in. corrugations. All above prices are f.o.b. Pittsburgh, terms 30 days net, or 2 per cent. cash discount 10 days from date of invoice. Wrought Pipe.—The following are the jobbers’ carload discounts on the Pittsburgh basing card on wrought pipe, !2 effect from October 1: Butt Weld. ia r——Steel.—_, ci ron. Black. Galv. Black. Galv. 5 EM ye ask ook. cee 72 58 6 54 RES on Nig BMI A dtace (RE S Ale UA 75 63 7 59 Ae 66 SA POS eis cea wie ae 79 69 75 6 5:00 - 0 sansa see 80 70 76 60 Lap Weld. se DP Mi FS ak Fie 76 66 72 6- eS rere ye 78 68 74 64 O¥- 80-6 Dest cnecvedbioue we 77 67 73 a T Pe SR iors ou Ok kee 75 59 71 oo em et ere eee eee 51% .. “* -* Butt Weld, extra strong, plain ends, card weights. __ SR Ae ds sneer 69 59 65 55 ie Ms ah ot nub kas a 74 68 70—s«G4 Stowe. 7 72 74 = 68 TO Bs. 00s ainda wvvek eae 79 73 7% 8669 Lap Weld, extra strong, plain ends, card weight. _ Db. aia cckdes agen Tee 7 69 a. OE EE Pee Ce 77 71 73 Of 4% to 6 in.....:. meat 76 ©=70 72 «66 SAM 10. 0s acannon ei aoe 69 ©=«BD 65 = 55 ee ee .64 54 60. Butt Weld, double extra strong, plain ends, card weight. MMS Ss sade DHT eee 64 = s68 Bie 80 BMS Gis na vine’: » +> <a 61 2 oS 2 tO SAM ee 69) os “ eaee a Yeld, double extra strong, en : 2 st eae ees 59 61 - 2% to 4 io...... S asain osaae 61 : Se 06 ies. ch cacseiees :-66 60 = 3 q te 6 Mics eed ce ....59 49 sé " [ March 2 iON |! THE IRON AGE $21 THE IRON AND METAL MARKETS Plugged and Reamed, © +o 3 in...Butt Weld { Will be sold at two (2) points lower basing (high- er price) than merchant . [er ecard weight pipe, Butt ‘ -to4in.......Lap Weld Lor Lap Weld as specified. The above discounts are for “card weight,” subject to the i ation of 5 per cent. Prices for less than carloads are aeee ») points lower basing (higher price) than the above dis- ounts Boiler Tubes. —Discounts on lap welded steel and char- jiler tubes to jobbers in charcoal are as follows: Steei. Iron Nec cee nmee ghee t 6 ae dae hie Cee 49 4: J, IN. vo aceseesseee seen sitive denpeass 61 43 in... co ood «nse aaa on ns 63 48 od to 5 In.-- coves seeme a aaawene tr anaes 69 BS a in. and larger, over 22 ft., 10 per cent, net extra. jess than carloads to destinations east of the Mississippi River W be sold at delfvered discounts for carloads lowered by i. for lengths 22 ft, and under; longer lengths, f.o.b. Pittsburg! Wire Rods.—Bessemer, open hearth and chain rods, OQ Steel Rivets.—Structural rivets, 34 in. and larger, 1.90c., head boiler rivets, % in. and larger, 2c., base ; ip, and 11-16 in, take an advance of 15c., and % in. and 0.16 ip take an advance of 50e.; in lengths shorter than 1 take an advance of 50c. Terms are 30 days, net mill, Pittsburgh Park BurLpiIne, March 1, 1911.—(By Telegraph.) Pig Iron.—Bessemer pig iron, which has been lying mant so long, is beginning to move, and we can report sales of fully 20,000 tons, of which about half is for de- very up to June, and on the other half deliveries run as far ahead as October, the iron running to June bringing $15, while the third quarter iron brought as high as $15.25, at Valley furnace. It is said that other inquiries are pending for considerable tonnage. There has also been a heavy movement in basic iron. A sale of 1500 tons of No. 2 foun- dry iron for delivery up to June, is reported at $13.75, * Valley furnace. The whole pig iron market is more active uiries, while prices are firmer. We quote Bessemer pig iron, $15; malleable Bessemer, $13.75; basic, $13.75 to Si4:; No. 2 foundry, $13.75 to $14, and gray forge, $13.50, Valley furnace, the freight rate to the Pittsburgh dis- eing 90c, a ton. Steel.—Actual orders sent to the mills in the billet and es department of the Carnegie Steel Company in I showed an increase over January of more than 100,000 tons. Consumers of billets and bars are specifying igainst their contracts, and the steel market is quite vith prices very firm. We quote Bessemer and open illets, 4 x 4 in. and up to, but not including, 10 x | $28, base, and sheet and tin bars in 30-ft. lengths, 24, f Pittsburgh or Youngstown, full freight to destina- led. We quote 11%-in. billets at $24 and forging | $28, base, usual extras for sizes and carbons, f.o.b. DP zh or Youngstown districts, freight to destination (By Mail.) opinion is somewhat divided as to the effect of rate decisions on the iron trade, the belief pre- s that there will be a slowing down in buying by ids. Yet it is thought that after a little time or- commence to come for the supplies which they so ed. The volume of new orders and specifications ontracts has shown a falling off the past week, as | with the previous week, This may be due to the buying until a week ago was quite active, and ers are pretty well covered, but, on the other hand, ve the recent spurt was only temporary and we the reaction. ‘The weak spot in the situation is king pig iron, of which heavy stocks are still being the Valley furnaces, which fact is well known nsumers and they are going slow in placing orders. demand and specifications against contracts for ud sheet and tin bars continues active, and prices on firm. The situation in finished iron and steel is satisfactory. The flurry in scrap seems to be pretty shang! For the first time in some months, coke is show- “eS betterment in inquiry and prices are firmer. Ferromanganese.—The market is very quiet, being prac- ‘"y bare of new inquiry, and prices are weak. We quote 80 per cent. foreign at $37.50 to $37.75, Baltimore, the freight rate to the Pittsburgh district being $1.95 a ton. Ferrosilicon.— The leading local consumer is reported to have closed for a very large amount of domestic 50 per cent ferrosilicon for forward delivery, said to be above 5000 tons, but neither the name of the seller nor the price paid has been given out. Another local interest is in the mar- ket for 300 tons for delivery up to July, and this business is practically closed on the basis of about $54, Pittsburgh. We quote 50 per cent. at $54 to $54.50, f.o.b. Pittsburgh, for delivery up to July. We quote 10 per cent, blast fur- nace silicon at $23; 11 per cent., $24, and 12 per cent., $25, f.o.b. cars, Jisco and Ashland furnaces. Muck Bar.—The higher prices being asked for gray forge pig iron have had their effect on muck bar, best grades made from all pig iron now being held firmly at $30, Pitts- burgh. There is no new inquiry in this market. Skelp.—There is a fairly active new inquiry for both iron and steel skelp, and prices are firm. A leading local maker reports a sale of 1500 tons of sheared iron skelp,