The Iron Age 1911-04-20: Vol 87 Iss 16

THE IRON AGE Established 1855 Published Every [hursday by the DAVID WILLIAMS COMPANY 239 West 39th Street, 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 Other Foreign Countries, $10.00 per Annum. Single Copies, 20 Cents. ; CnHarces T, Root, - - - - = PRESIDENT W. H, TAyLor, - = - TREASURER AND GENERAL MANAGER Haro_o §. BUTTENHEIM, - - - ° - SECRETARY Geo. W. Cope, - - - } Eorrors A. |. Finouey, - - - - - H. R. COBLEIGH, - - - - - MECHANICAL EviToR Branch Offices Philadelphia, Rea! Estate Trust Building Chicago, Fisher Building Pittsburgh, Park Building Cleveland, American Trust Building Boston, Compton Building Cincinnati, 807 Andrews Building Milwaukee, 416 Engineering Building. CONTENTS. Editorial : PAGE Redaction im\ Fee Gig. 5 «ik sine be «dees k hod bok ora VS 945 Increasing Pre-eminence of the Mesaba Iron Range.... 946 Government Regulation of Prices.................2. 947 Tee See ee Setar eneedassven tsb aeaesnovuds 947 The Ramber of Cat: Wheels oo. i iiss wv eeesacwriv's 947 COPRRIDOMEMEDS . 5. 5bsas athe aWane c¥e 0 deeeseaskAdsarnone 948 The Steel Corporation’s Annual Meeting................. 949 ‘he National Radiator Compary’s Eastern Plant......... 949 COU: I so ais ora Hh Ss ends od HOR Ce 949 The Iron and Metal Market Reports................ 950 to 960 Trom and FaAibreal Dees < 65 Ke ao oe la it wae eee ress 960 The Crucible Steel Company of America..............+06. 960 Tralin: Pes 6 5 55 sas a ae fs his wh es tee OD 960 Hlectric Furnaces of the Induction Type................ 961 PeTeeMAD: i> Kn eS SE ORT CRe RA TAG aed Rw ees 964 OUUINE sos cdi Vasher dR teak was Chawneesenccvadeuedt 964 The Batis of Taek 86 TAs 5 oo <n cnaer ass cae esckennaas 965 Metal Bolling - im. the Untied Bemtei ere occccccccecescicuses 966 The Congress of Technology in Boston..............+e6. 967 Large Condenser Installations. .........ceeeeeeeeeeeeees 967 Employers’ Liability and Workmen’s Compensation........ 968 Modern Ghed DUAMMOOMOTE. « 5 oii 0 055 deb cd 000 0s ts ceive 970 Tron One BG OO iO BONO. 65 cere ce ree eae renee’ 972 Handling Philadelphia’s Ore Imports..........-.0.-+ee05 973 Central Ghnttem Welbare Woes « <eis 006046006 coded snes ewes 973 Tarill Batiste Ws bok c cach cetes secdtecceneseesores 974 The Pittsburgh Steel Company’s Finances................ 974 Railroad Equipment Orders.............+0. SUF ROOTS Ss 974 The Clayton Motor Driven Air Compressor. Illustrated.... 975 The Gore Wire Rope. Illustrated...........ceeeeeeevers 975 The National Metal Trades Association................. 976 The West Penn Stee] Company’s Extensions.............. 979 Molding Thin Castings on an Arcade Jarring Machine, Illus. 980 The Iron amd Besel Wnstetmees oc cicvccdviaccceccacesesees 980 The Patterson Adjustable Electric Light Bracket. Illus.... 981 The Rogers-Brown Iron Company.........cccccsecccoece 981 The Algoma Steel Company’s Coke. Plant. Illustrated.... 982 The Hooper-Falkenau Engineering Company.............. 986 A New Metal Studding Machine. Illustrated............. 987 Repairing Concrete WWGOs 544 <e S6aree de Ag ie > o vet ewte cass 987 Vivian Bond & Co.’s Pittsburgh Business..............+. 987 The National Association of Manufacturers......... © sip o'0' 988 A New Standard Motor Driven Rolling Mill. Illustrated... 988 Petroleum Iron Works Contracts..........+++e+- soesess OD Vermillion Iron. Ore Explorations. Illustrated............ 990 Swank’s New Firebrick Plant. .o: cees dp 06 dee cle case atede 992 The Rochester Iron & Metal Company’s Growth......... -- 992 The Machinery Market Reports...........seeeeee. 993 to 1001 Current WRGGEE POUR ix cassc cece n cc ctaeetn sec cereneet 1002 New York, April 20, 1911 Vou. 87: Reduction in Lake Ores A Cut of 50 Cents a Ton Now Expected An 80,000 Ton Structural Contract Pending in New York—Pig Iron Stocks Little Changed The question of Lake Superior ore prices for 1911 has become of first importance in the past week. Among merchant ore producers sentiment in favor of a 50-cent reduction from the level of 1910 has been more pronounced, but the issue is complicated by the attitude of some of the steel interests. The latter are concerned about the effect of a reduction in ore upon the market for finished steel. So far as pig iron is concerned, the cut in ore has been pretty well dis- counted. The transfer of the conferences on the lake ore situation from Cleveland to New York was a develop- ment of the week which kept the entire trade on the qui vive. There was no definite outcome, but the per- plexities of the situation have not lessened. Offers of non-Bessemer lake ore for 1911 shipment have been made at a considerable concession from the basis of 1910; and in the East sales of foreign ores at prices midway between those of I909 and IgIo point to a lower basis both for Eastern and lake ores. In Cleve- land the prediction is made with more confidence this week that the reduction on all grades of ore will be 50c. a ton. Pig iron and finished material markets have grown quieter. Pig iron production is receding from the high point reached at the opening of April. The United States Steel Corporation has put out two fur- naces in the past week and now has less than 70 per cent. of its furnace capacity active. In foundry pig iron, under indifferent buying, prices for deliveries late in the year are getting closer to those for early shipment. Eastern pipe works have made low offers for Northern irons, but as pipe grades are not plentiful, producers are showing no eagerness to accept. In steel-making pig iron, the largest sale reported was of 5000 tons of Northern basic to a southern Ohio steel company, shipments -over the second half of the year. At Cleveland, inquiries for 6000 tons of basic iron are pending, half of it to go to Chicago. Stocks at steel works furnaces and in the yards of merchant furnaces in the Central West were reduced 700 tons, on a total of 860,000 tons in the first half of April. This compares with a reduction of 45,000 tons in March. The ferromanganese situation has not improved and business is still done at $36.50, Baltimore. One sale of 1000 tons has been made to an Ohio steel com- pany and another of 500 tons, also in the Central West. Pittsburgh reports some cutting of prices on billets and sheet bars, the supply of available semi-finished steel both from producers and merchant firms showing some increase. No. 16 940 The chief development in structural steel was the call for bids for 80,000 tons of fabricated steel for the Interborough Rapid Transit Company, New York. It will be used for additional tracks and extensions for Ninth lines, including ‘a double deck bridge over the Harlem the Second, Third, Sixth and avenue elevated River. Bids are wanted by April 24. Deliveries begin in three months and extend over two years. For the Insurance Exchange Building, New York, 8000 tons of steel will be furnished by the American Bridge Com- pany. At Chicago, the Otis Building, 8000 tons was let last week, and pending business there includes 5000 and 2000 tons respectively for the buildings of the Northwestern Mutual Life Insurance Company and the Fidelity Insurance Company. [he Missouri, Kansas & Texas has bought 14,000 tons of rails, 6000 tons to be rolled at Chicago and 8000 tons at a seaboard plant for delivery at Gulf port. The Baltimore & Ohio is in the market for 7500 tons. Manufacturers of sheets at the Pittsburgh meeting last week decided against reducing prices in spite of the recent shading. Specifications for tin plates have fallen off somewhat, at the same time that activity in the Brit- ish tin plate industry is slackening, an indication that he next con- At the last letting Welsh mills could not guarantee deliveries, and foreign competition may be sharper on t tract for tin plates for the export oil trade. the business came to this country. The scrap market has gone from bad to worse. Offerings by railroads have been more of a factor, and in some districts rejections of dealers’ shipments have added to the demoralization. . Tin in New York has again sold below the import level this week. In copper, sales of 500,000 Ib. have been made at 12c. for electrolytic, but selling interests representing producers are generally holding for 124c. The expectation that the February and March movement in iron and steel would help the copper sit- uation has proved to be another forlorn hope. Growing Pre-eminence of the Mesaba Range The dependence of the steel industry of the United States upon the Mesaba iron range of Minnesota is brought out more strikingly than ever by the statistics of the production of Lake Superior ores in 1910. In that year, with a total of 43,442,397 gross tons from the five Lake Superior range nd the three detached mines in southern and central Wisconsin, the Mesaba range contributed 29,201,760 tons, or more than 67 per cent. The Mesaba shipments were a new high record, being roundly 1,000,000 tons more than in 1909, while the shipments from all ranges were only about 850,000 tons more last year than in the preceding year. Thus the so-called “old ranges” shipped less than in 1909. The following comparison of shipments from the various ranges in the past two years emphasizes the increasing disparity between the Mesaba range output and that of all the other ranges on Lake Superior: 1909. 1910. Gross tons. Gross tons. i TR os ow wp aed a pew oe * 08/6 4,256,172 4,392,726 PND TOES ib. folds sch ecctedwe 4,875,385 4,237.738 I ND 3G ik vo hss aca he ak oe 6 4,088,057 4,315,314 Ce. con ccebecerh ees ne 1,108,215 1,203,177 Se ces ee eae eae ee 28,176,281 29,201,760 NN mts so nce Bw Ooi wee 82,759 91,682 Pica bcd kb hase eOy seb udanie 42,586,869 43,442,397 It is true that exploration and development work THE IRON April 20, 1911 AGE has been carried on with vigor on the old ranges in recent years, and that this has resulted in a much larger addition to the known ore reserves of the lake region than was considered possible at the time the Steel Corporation was formed. Nevertheless, accept- ing at par the claims made by the owners of some of the. new properties on the old ranges, it is plain that Marquette, Menominee and Gogebic mining companies have strained to the utmost to make the totals of the past half dozen years, and their tendency will be to- ward smaller rather than greater shipments. The 5,109,000 tons in 1906, whereas its total last year was Menominee range, for example, produced but 4,237,738 tons. The Marquette range shows a more even record in the past half dozen years. Leav- ing out 1908, with its sharp depression, the average output in the years 1905 to 1910, inclusive, has been about 4,200,000 tons, the minimum being 4,057,000 tons in 1906, and the maximum, 4,392,000 tons in I9IO. The Gogebic range, through the tremendous activity at the Newport and the well sustained output of the Norrie group, has come up well in the past two years, making an output of 4,088,000 tons in 1909 and of 4,315,000 tons in I910, whereas the greatest previous total was 3,705,000 tons in 1905. The Vermillion range reached its highest output in 1902 at 2,084,000 tons. In 1905 and 1906 it averaged about 1,750,000, whereas in 1909 and IgIo it dropped down to an aver- age of 1,150,000 tons. In view of the waning of the old ranges, relatively if not actually, special interest attaches to the develop- ment work which has been in progress in the past few years on the Cuyuna range, west of Duluth, and the Baraboo range in Wisconsin. As has been indicated by articles in these columns from time to time, both these districts will give a good account of themselves. The belief of those closest to developments on the Cuyuna range is that a good many mines will be found that will rival the Mesaba in grade, and will rank well up in As was pointed out in an article on the Bara- boo range in The Iron Age of March 9, page 618, un- expected finds have been made there, with prospects that the total of available ore will run well up into the hundreds of millions of tons. Of particular interest in this connection is the account given elsewhere in this issue of the work that has been in progress in the past year or two on the Vermillion range. While it is early to say definitely what may be looked for as the result of this activity, it is not unreasonable to expect a very considerable addition to the available ores of that dis- trict, which thus far has been relatively unimportant in point of tonnage, though its ores are of the highest grade. The importance of the Mesaba range is seen in a new light in a comparison of its total output with the total of iron ore shipments from the Lake Superior From the first shipment of ore down the lakes in 1852 to the close of navigation in 1910 the shipments from all the Lake Superior mines amounted to 493,089,- ooo tons. Of this total the Mesaba range, making its first shipment in 1892, contributed 224,905,000 tons. Thus in 19 years this range, well named “ giant,” has produced 45.6 per cent. of all the iron ore that has come from the mines of Minnesota, Wisconsin and Michigan in the past 58 years, or more than three times the life of the Mesaba range. tonnage. region. April 20, 1911 Government Regulation of Prices Washington advices state that Representative Mar- tin of South Dakota, who has lately been appointed on the Committee on Interstate and Foreign Commerce, is planning to urge legislation which will give the Fed- eral Government the right to regulate the prices charged by corporations which have come under the ban of the Sherman anti-trust law and are monopolies He is said to be convinced that in the absence of such regulation it will be difficult to reach these corporations effective- or attempted monopolies under that law. ly, as they may simply change their form, and if re- solved into their subsidiary companies such companies will effect a complete understanding and continue to maintain control of the market for the commodities produced, thus simply changing the form of monopoly. It is asserted that the problem now presents itself how to follow up anti-trust decisions so as to give actual relief to the public, and that Representative Martin is convinced that Government regulation of prices would go a long way toward bettering the situation. He is said to believe that the Government has the power to do what he proposes. It will be exceedingly interesting to see whether Mr. Martin’s Congressional colleagues will support his views to a sufficient extent to embody them in practical legislation. The assumption of control of freight rates by the Interstate Commerce Commission is an im- portant step in that direction. If the price at which railroads shall sell their transportation can be fixed by a Government agency, it would seem that railroads might with some justification demand that another Government agency should be empowered to fix the prices of such commodities as they purchase, thus in- suring them low costs of what they are compelled to But this carries with it the further argument that those whose prices would be so controlled should in turn have their interests safeguarded by some Gov- ernment agency fixing prices on what they are obliged to buy. As it would surely be inequitable to restrain any set of manufacturers or producers from charging more than a fixed price and leave those who supply them with essential materials free to demand what they may, the regulation of prices would have to be con- tinued until every seller of any kind of material came under control. In such a regulation of costs, could the man who sells his labor escape? In the last analysis he would be the one whose emoluments would be the most important obstacle to the leveling process. Could a Government agency make him give way and assist in the cheapening process? buy. It is difficult to see how national legislation can thus be invoked, even against the so-called trusts, with- out precipitating a most confusing state of affairs. How can the price of a manufactured product be regu- lated, for the purpose of penalizing a corporation, un- less it be conceded as one of the powers of the Gov- ernment that it can fix or regulate the price of any commodity offered for sale by any person? Will the Congressional representatives of agricultural con- stituencies be willing to admit that a Government agency ought to be created for the purpose of fixing the price of wheat, corn, cotton, potatoes, flaxseed, hogs and other products of the field or the farm? It is but a few months since all these commodities were soaring and the entire country was wailing over the THE IRON AGE 947 cost of living. Was Representative Martin then straining himself to give “relief to the public” by trying to break down farmers’ prices? At that time he was probably a believer in the law of supply and demand, as far as farm products were concerned. And that is the law which ultimately asserts itself, in spite of all legislation. It is that law which has so often brought about lower prices even when combinations and trusts have done everything in their power to con- trol the market for a commodity. Congress should not attempt to interfere with the free play of this law, even to penalize a so-called monopoly. The New Free List The Democratic party has signalized its return to power in the House of Representatives by fathering a bill to place on the free list about a hundred articles, mainly such as are used by farmers and planters. Agricultural implements of every description, all sorts of fabric coverings for cotton bales, metal cotton ties and wire baling ties, leather and such leather goods as boots and shoes and harness, wire rods and wire fencing and fence staples, all kinds of lumber except cabinet woods, sewing machines, meats, all kinds of flour and salt are the articles thus covered. Thus the farmers who have been opposing Canadian reciprocity are to be appeased by the possibility of getting cheaper agricultural implements, wire fencing, harness, boots, shoes and salt. The Southern cotton planter, although he has taken no special interest in the reciprocity question, has always been anxious to see cotton ties on the free list, and the opportunity is seized to min- ister to his desires. Free meats and flour are sops to the general public. There is nothing scientific or logi- cal about the bill as a type of tariff making. It simply wrests from their places on the dutiable list a number of articles whose transfer to the free list is likely to win political support. The country apparently de- manded a further reduction of tariff duties last fall, but this bill cannot be considered a proper reply to such a demand. It demonstrates the conception of tariff revision which dominates the new House of Representatives and shows what is to be expected when the tariff as a whole is taken up for revision next winter. It will be remarkable, indeed, if such a bill as this survives the ordeal of the Senate. The Number of Car Wheels An inquiry having come to us recently as to the approximate number of car wheels in the country, it is interesting to observe how close an approximation can be made by data readily accessible. The latest edition of Poor's Manual gives the number of cars re- ported by the steam roads of the country as follows: PUG ia 5's sk dk Rik ld 6 0 GRR TERR RK he dee 36,245 Baggage, Wall. end Crees 60k. vc vedacisctieneaseeks 13,449 PRIS fins sb eaiediaw visions bd toe eed seen teens 2,180,324 TOR Gy 6 do Jha c ce deed Nite sesGisadianabdeen 2,230,018 - The above shows the number of cars at the end of the fiscal years of the railroads, June 30, 1909, for the majority, but on December 31, 1909, for quite a num- ber. The Railway Age Gazette statistics of car build- ing show the following: ER ry i Ca egeby elt lia Be ytntar acral tas 96,419 MOOI hiss x on CRS Dab io nus vaca vi awiiienaeeeetts 185,857 It may be assumed that the equivalent of a year 948 and a half increase has occurred since Poor’s total of 2,230,000 cars was compiled; and as few cars have been abandoned it is safe to add 200,000 to the figure, making 2,430,000 cars for the present. There are no statistics on the number of privately owned cars, but from a private estimate made some time ago by one in perhaps the best position to know, it may be estimated that at present there are about 150,000 privately owned cars running on the steam roads. We have then 2,580,000 cars running on the steam roads, the number being subject to only a small probable error. At eight wheels per car, we should have 20,640,000 wheels. There are about 60,000 locomotives on the steam roads, some with truck wheels and all with tenders, most of which are double truck. An allowance of eight wheels per locomotive (driving wheels not being considered at all) is probably close, making 480,000 more, or a grand total of 21,120,000 wheels on the steam roads. Taking account of spare wheels, the total may be put at about 21,500,000, and it seems improb- able that the actual number in existence on the steam roads of the country is as low as 21,000,000 or as high as 22,000,000. — Nothing like similar accuracy can be expected in estimating the number of wheels on electric lines, mine, logging and other industrial railroads, &c., but we may experiment by assuming for argument that there are the equivalent of 75,000 electric cars of eight wheels and 100,000 industrial cars of four wheels, which numbers would give us precisely 1,000,000 more wheels, so that the doubt in estimates as to such wheels cannot greatly affect the total, and we may therefore put the grand total of all car wheels and wheels on locomotives other than driving wheels ‘at between 22,000,000 and 23,000,000. The total weight of these wheels is uot susceptible of such close estimation. While the standard wheels average a trifle more than three to the gross ton, there are many smaller wheels which may run four, five, and in some cases more, to the ton. If we divide our 22,500,000 wheels into three classes of 7,500,000 wheels each, and take the first class at three to the ton, we get a weight of 2,500,000 gross tons; taking the next class at 334 to the ton, we get 2,000,000 tons, and taking the last at five to the ton, we should get 1,500,000 tons, making a total of 6,000,000 tons. The data were taken somewhat arbitrarily, to arrive at round figures. The actual weight is perhaps in excess of 6,000,000 gross tons. Correspondence Safeguarding Against Fire To the Editor: Your editorial of April 13, “ Awaken- ing to the Danger of Fire,” calls attention to actual con- ditions amounting in some cases to almost criminal neg- ligence. But many manufacturers, especially in the metal trades, cannot be appealed to from the loss of life standpoint, because in the spread-out single-story fac- tory there is not the element of personal danger present in the many-storied factory buildings of a great city. The pocketbook nerve of all factory managers is very sensitive, and all of them should be open to argument via that channel. Doubtless the reason that so many plants are inadequately safeguarded against fire is that their managers think “ What’s the difference? I’m fully protected by insurance.” But what factory really is fully piotected by insurance? Suppose the insurance is suffi- cient to replace all stock, shop equipment and ‘factory THE IRON April 20, 1911 AGE buildings. What about the future time when an old cus- tomer orders repairs and has to be told “ Those obsolete patterns were destroyed in our recent fire?” What will cover the loss of shop records? What will pay for the loss of trade by interruption to business? Fire extinguishers throughout the plant, fire com- panies organized among the employees, and a complete automatic sprinkler system will not only pay for them- selves in reduced insurance rates, but will do much to provide stability of output, which is one of the greatest assets of a live manufacturing plant. Henry M. Woon. CINCINNATI, OHIO. The Annealing of Malleable Castings To the Editor: I would like to ask a few questions pertaining to the article, “‘ Annealing Malleable Castings,” by W. P. Putnam, in your issue of March 23. The very first paragraph leads me to judge that all you have to do is to put a charge in the furnace, melt it, and have a good annealer. Presto! Do different classes of malleables require different mixtures? Does one need no “skill,” no “judgment” to tell “ burnt iron,” or hot iron, when the mixture is ready for pouring? P Let us rearrange the table showing “ results of anneal- ing bars of the same composition in different foundries,” according to their tensile strengths, those omitted having no temperature given: Total No. ce. Temp.. F. Hrs. carbon. PPR v es Sie ai ws Mak ee 50,849 2,200 96 0.40 Ee. Pee ee ee ee 47,336 1,620 208 0.80 Re ee rey ee ae 45,2138 1,700 144 1.32 Te a kus oii ashe STR oie bel 44,034 1,700 144 1.94 Datra wp he eae ae bee 40,996 1,450 112 1.49 Date ine de'scuhieauns be 40,408 1,650 72 1.71 Bice sa penne gue s oyu s. Bee 1,620 101 1.47 The author says: “It will be noticed that in each case under too high a temperature or a long period of annealing, the carbon was nearly all removed. Either practice is wasteful and produces poor malleable for some The first two bars show the greatest tensile strength and the lowest total carbon, one an- nealed at a high heat, the other for a long period. Will many consumers object to such a fault? And for what purposes are such malleable castings poor? Will Mr. Putnam give an explanation for bars Nos. 7, 1, 6 and 38 being lower in total carbon than No. 2? No one of these bars was annealed at a greater heat or for a longer period than No. 2. If all castings to be ma- chined are to have different treatment from that given purposes.” others, then should all such be accumulated for one oven? Wouldn’t this mean a delay to all in a small plant? What is the “ different treatment’? In the chart “proper finishing temperature for the annealing ef white iron in relation to carbon contents,” that for the sample bars sent to 11 different foundries is 1575 degrees F. And 10 of the 11 exceeded this from 45 to 625 degrees, and yet produced a malleable with tensile strength 40,000 to 50,849, with other physical prop- erties relatively good! If a scissor block and car coupler are the same car- bon contents, do they require same temperature and time? Spade steps and hydraulic jack castings, too? Does the carbon content above fix the “critical and proper annealing temperature” and the time? I agree that this department has often been neglected, but argue that the mixing and melting are more impor- tant factors—the pivot point inthe plant—and that prac- tical experience shows many fallacies in theory. . INQUIRER. Lake Ore Prices and the Furnaceman’s Situation To the Editor: There can be no real bargain unless it has reciprocal advantages. The seller must make some- thing aud the buyer must make something. Should all the bargain in the iron business be one way, it would not be long until there would be serious trouble. If all the consumers were able to buy iron at less than it cost the furnaces to produce it, they might think they were driv- April 20, 1911 ing a good bargain for themselves. But little by little they would force the furnaces into bankruptcy, leaving themselves at the mercy of a few of the stronger fur- naces, and presently they would see iron prices at such a mark that they themselves would be in serious trouble. At the present time there is no real bargain in lake ores. The ore men have managed to hold their ores at such a price that, while there is a very handsome profit indeed to the miners, the iron masters cannot make iron at a price that the market will take. The merchant fur- haces depending on outside sources for their ore are lit- erally, with the low prices for iron, between the devil and the deep blue sea. They are caught between the upper and lower millstones. They are not getting a reci- procal deal. Competition is the life of trade and reci- procity is the long life of trade. In ore there is neither competition nor reciprocity, and the situation is one that is well-nigh unbearable, SOUTHERN OHIO FURNACEMAN. Gs The Steel Corporation’s Annual Meeting The annual meeting of the United States Steel Cor- poration was held at Hoboken, N. J., April 18, Chairman E. H. Gary presiding. The stockholders approved and ratified all purchases and contracts made by the directors and Finance Committee since the meeting a year ago. The following directors were elected for a term of three years: George F. Baker, W. E. Corey, John F. Dryden, Clement A. Griscom, Samuel Mather, D. G. Reid, Henry Walters, and Gardiner M. Lane. Mr. Lane was elected to succeed the late Nathaniel Thayer. He is a member of the firm of Lee, Higginson & Co., bankers, New York. A total of 1,924,821 shares of preferred stock and of 2,900,671 shares of common stock was voted, or alto- gether 4,825,492 shares. Charles A. Cabot of Boston introduced a resolution for a committee of five to investigate certain statements published in a magazine referring to labor conditions in the plants of the Steel Corporation. The article was en- titled ‘“ Old Age at Forty.”’ Chairman Gary, in reply to Mr. Cabot, said that while the article was unfair, unrea- sonable and partisan, and the motive in publishing it was not good, he favored the resolution. Representing by proxy a large majority of the stockholders, he would vote for the appointment of a committee of five stock- holders to investigate and report its findings to the Finance Committee. The directors of the Corporation will meet on the last Tuesday of April and elect officers, including the Finance Committee. +» e—___ The National Radiator Company’s Eastern Plant Improvements and extensions are being made to the plant at Trenton, N. J.. recently purchased by the Na- tional Radiator Company of Johnstown, Pa., where the Solace and Novus radiators for the Eastern market will be made. The property is on the main line of the Penn- sylvania Railroad, and consists of 18 acres of land on which there is now a foundry building, 110 x 225 ft., equipped with two cupolas, &c. There is also a ware- Louse, 90 x 200 ft., and two new brick buildings recently completed, one 50 x 100 ft., to be used for a cleaning and testing department, and the other, 50 x 175 ft., to be used for core making purposes. A pew power house, 60 x 75 ft., is to be built, which will contain the boiler equip- ment for supplying an engine of 225 hp., yet to be pur- chased. It is expected that the Eastern plant will be ready for operation about the middle of June, and is to be under the management of Charles N. Tull. While the extensions to the plant are being made, and preparations pushed for its operation, the patterns, flasks and other equipment are being made at the Johnstown plant, and will be shipped to Trenton so as to be available for use as soon as the new plant is ready for operation, THE IRON AGE 949 Customs Decisions Bayonets For tariff purposes bayonets are “side arms.” This is the conclusion reached by the Board of United States General Appraisers after the consideration of testimony submitted in a test case arising under the tariff acts of 1909 and 1897. The American Express Company and C. Uirsch & Sons Iron & Rail Company are the importers. Duty was assessed on all of the goods as “ side arms,” some at the rate of 35 per cent. under the act of 1897, and on the others at 50 per cent. under the present act. The importers alleged the bayonets are dutiable prop- erty at 25 per cent. under the tariff acts of both 1897 and 1909 as “ parts of” muskets or rifles. General Appraiser Fischer, in his decision for the board, says that he thinks the evidence shows conclusively that the bayonet is worn at the side in a scabbard when not attached to a firearm. Forged Iron Ladles When the present tariff was framed a departure was made from the language used for “ forgings” in the pre- vious tariff. This has resulted in a protest by the John- ston-Morehouse-Dickey Company, Pittsburgh. The goods in controversy are invoiced as best iron ladles, and were assessed for duty at 45 per cent. under paragraph 199, act of 1909, as manufactured articles, not specially pro- vided for, composed wholly of metal. The claim of the importers is that they are dutiable at only 30 per cent. of their value, under paragraph 123, as “forgings of iron.” The ladles are made by a forging process from Swedish iron, and are used in the handling of molten metal. Subsequent to the process of forging they are more or less manipulated or tooled to remove the rough edges. According to the record, the ladle as forged had an elongated end somewhat like a handle, which has in part been cut off. After importation a handle is to be welded to the article to completeit. It is pointed out in the board’s decision that the present act’s provision for forgings is materially different from a clause in the cor- responding act of 1897. The existing tariff extends the meaning of the term by the phrase “of whatever shape or whatever degree of manufacture.” On this point, the decision says: “It is evident that the change in the lan- guage was for the purpose of limiting ‘forgings’ to such as are not processed béyond the original forging.” The protest is overruled. Nut Locks The competition between German and American man- ufacturers of nut locks has resulted in a suit before the Board of United States General Appraisers, having for its object the raising of the tariff classification on this line of goods. The American manufacturers claim that German made nut locks are being put on the market here at prices below the cost of manufacture in this country. ‘The test case now before the board stands in the name of the Motor Car Equipment Company. The Treasury Department having ordered collectors of customs to classify nut locks under paragraph 199 of the act of 1909, as “manufacturers of metal not otherwise pro- vided for,” objection is made by the importing interests and users of the goods in this country. The Motor Car Equipment Company contends that they should be re. turned for duty at three-quarters of 1 cent a pound under the tariff provision for “ washers.” Several witnesses for the Government have testified that, although the domestic industry is of large propor- tions, the contention of the importers, if granted, would mean its extinction. They brought out clearly the dif- ference between a nut lock and the article usually re- ferred to as a washer. The nut locks in controversy are made from wire with a spring temper. The witnesses testifying in favor of the higher duty included represen- tatives of the National Lock Washer Company and Posi- tive Lock Washer Company, both of Newark, N. J.; Riv- erside Steel Spring Company, Riverside, N. J., and Hobbs Mfg. Company, Worcester. The board will render a deci- sion shortly. th I enti eh a ES ls Ul ai NN eC! 950 THE IRON AGE The Iron and April 20, 1911 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, Apr.19, Apr.12, Mar.15, Apr.20, PIG IRON, Per Gross Ton: 1911. 1911. 1911. 1910. Foundry No. 2, standard, Phila- its 5c mini ein gctebis te 8:0 0% $15.50 $15.50 $15.50 $17.75 Foundry No, 2, Valley furnace... 13.75 13.75 13.75 15.50 Foundry No. 2, Southern, Cincin- BE chuck ews daw oie aes 14.25 14.25 14.25 15.25 Foundry No. 2, Birmingham, Ala. 11.00 11.00 11.00 12.00 Foundry No. 2, local, Chicago*. 15.00 15.00 15.00 16.75 Basic, delivered, eastern Pa.... 15.25 15.25 15.25 17.50 Basic, Valley furnace.......... 13.75 13.75 13.75 16.00 Bessemer, Pittsburgh.......... 15.90 15.90 15.90 18.40 Gray forge, Pittsburgh........ 14.40 14.40 14.40 16.15 Lake Superior charcoal, Chicago 17.50 17.50 17.50 19.00 COKE, CONNELLSVILLE, Per Net Ton, at oven: Furnace coke, prompt shipment. 1.60 1.60 1.55 1.70 Furnace coke, future deiivery.. 1.75 1.75 1.75 1.90 Foundry coke, prompt shipment. 2.00 2.00 2.00 2.50 Foundry coke, future delivery.. 2.25 2.25 2.25 2.75 BILLETS, &c., Per Gross Ton: Bessemer billets, Pittsburgh.... 23.00 23.00 23.00 26.50 > Forging billets, Pittsburgh..... 28.00 28.00 28.00 32.00 Open hearth billets, Philadelphia 25.40 25.40 25.40 30.00 Wire rods, Pittsburgh......... 29.00 29.00 29.00 32.00 OLD MATERIAL, Per Gross Ton : Tren ‘walle, Chicago. . «. .iiccs.ss 14.50 14.50 15.50 18.50 Iron raijs, Philadelphia........ 17.50 17.50 18.50 20.50 Car wheels, Chicago........... 13.25 13.25 13.25 16.50 Car wheels, Philadelphia....... 13.25 13.25 14.00 16.00 Heavy steel scrap, Pittsburgh.. 12.75 13.25 14.25 16.25 Heavy stee] scrap, Chicago..... 11.50 11.50 12.00 14.25 Heavy steei scrap, Philadelphia 13.25 13.50 14.00 16.00 FINISHED IRON AND STEEL, Per Pound: Cents. Cents. Cents. Cents. Bessemer steel rails. heavy, at ar eee ee ee ee ee re 25 1.25 1.25 1.25 Refined iron bars, Vhiladelphia. 1.35 1.37% 1.37% 1.50 Common iron bars, Chicago... . 1.25 1.25 1.27% 1.50 Common iron bars, Pittsburgh.. 1.35 1.35 1.35 1.60 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. 1.30 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, Pittsburgh7........ 1.80 1.80 1.80 1.85 Cat maila, Pittebarge.......... 1.70 1.70 1.60 1.85 Barb wire, galv., Pittsburgh;... 2.10 2.10 2.10 2.15 METALS, Per Pound: Cents. Cents. Cents. Cents. Lake copper, New York........ 12.37% 12.37% 12.50 13.25 Electrolytic copper, New York.. 12.124%12.12%12.25 12.80 Spelter, New York............. 5.50 5.50 5.65 5.60 ee. tek TaN e425. Frise... 5.30 5.30 5.50 5.45 Capel Dir TE oes ins 'n.6 0 0 plane 4.45 4.45 4.37% 4.40 ee, Tes a 5 5s 46's x pitisie © 4.30 4.30 4.22% 4.25 a. DOO TM ines > xuesdeonse 41.70 42.25 39.75 33.05 Antimony, Hallett, New York... 8.75 9.00 9.25 8.25 Tin plate, 100-lb. box, New York $3.94 $3.94 $3.94 $3.84 * This price is at furnace and not delivered in Chicago. + 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 Ib.: New York, 16c.; Philadelphia, 15c.; Boston, 18c.; Buffalo, 1le.; Cleveland, 10c.; Cincinnati, 15c.; Indianapolis, 17c.; Chicago, 18¢.; St. Paul, 32c.; St. Louis, 22%c.; 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, 8 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; angles, channels and tees, under 3 in., 1.45c., base, plus full extras as per steel bar card of September 1, 1909; deck beams and bulb angles, 1.70c. to 1.75c., net; hand rail tees, 2.50c.; checkered and corrugated eee 2.50e. ., net. Plates.—Tank plates, 4 in. thick, 64 in. up to 100 in. wide, 1.40c. to 1.45c., base. ees are stipulations pre- scribed by manufacturers, with extras to be added to base price (per pound) of plates: Rectangular plates, tank steel or conforming to manufactur- ers’ standard specifications for structural steel dated February 6, 1905, or equivalent. 4-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 lb. per square foot are considered %4-in. plates. Plates over 72 in. wide must be ordered \-in. thick on edge, or not less than 11 Ib. per square foot, to take base price. Plates over 72 in. wide ordered less tban 11 ib. per square foot down to the weight of 3-16-in. take the price of 3-16-in. 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 SE Ii o5.d & 0:4 + cit w 06 sb avid ee cma c $0.10 Gauges under 3-16-in. to and including No. 8..... .15 Gauges under No, 8 to and including No. 9....... 25 Gauges under No. 9 to and including No. 10...... .30 Gauges under No. 10 to and including No. 12..... -40 Sketches (including all straight taper plates), 3 ft. pe Ot nt IN cb tt Geen G eos places vee 10 Complete circles, 3 ft. in diameter and over...... -20 en Ge WN ns oa nid V6. b4o-3 0:0, 0'4:0:0,0 4 06 10 “A. B. M, A.” and ordinary firebox steel........ .20 er NREL Ss Gh kde eetEd es OKO diaew yt 6ceee .30 DEED TE is PEER Bad sca Pels as iwwd sd c's ones -40 oe WE Ce en ee eee .50 Widths over . in. up to 110 in., inclusive...... .05 Widths over 110 in. up to 115 in., inclusive...... .10 Widths over 13 f 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 , J ek SR aes sh ee re 1.00 Cutting to lengths or diameters under 3 ft. to 2 Sion SE SS i's ie 5b bbe oo oes be hn eres we he ae -25 Cutting to lengths or diameters under 2 ft. to 1 RUNS a5 Gk ae ik a hia’ Gp 0 dim aie ach ie 64 6 Gx mie -50 Cutting to lengths or diameters under 1 ft....... 1.55 No charge for cntting rectangular plates to lengths 3 ft. and over. TERMS.—-Net cash 30 days. Sheets.—Makers’ prices for mill shipments on sheets in carload and larger lots, on which jobbers charge the usual discounts for small lots from store, are as follows: Blue annealed sheets, Nos. 8 to 8, U. S. standard gauge, 1.55¢.; Nos. 9 and 10, 1.65¢c.; Nos. 11 and 12, 1.70c.; Nos. 18 and 14, 1.75¢c.; Nos. 15 and 16, 1.85c. One pass, cold rolled, box annealed sheets, Nos. 10 to 12, 1.85¢.; Nos. 18 and 14, 1.90c.; Nos. i5 and 16, 1.95c.: Nos. 17 to 21, 2c.: Nos. 22, 23 and 24, 2.05e. ; Nos. 25 and 26, 2.10c.; No. 27, 2.15¢.; 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, 2.15¢ Nos. 25 and 26, 2.20c.; No. 27, 2. 25e. ; 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.—tThe following are the jobbers’ carload discounts on the Pittsburgh basing card on wrought pipe, in effect from October 1: sutt Weld. -Steel, . ~—Iron., + Black. Galv. Black. Galv. i MRR A Dns dona le OSV ae waka s sided 49 43 Ee. CNA San Teen ee Th 63 71 59 MEMS seals bs ae see algae 79 eo 75 65 ey 2 Sear i % sw eutew 80 70 76 66 “th ap Weld. ANG chile dd es saw es ebhee 76 66 72 62 eS re 78 68 74 64 et eA 77 67 73 63 eo RSs ee ae 75 59 71 5d Be ee bo ks 80s 8 Ho % civacteele ‘ Butt Weld, extra strong, pls 1in ends, ‘card weight. %, ie Oe er rey reer 69 59 65 55 Re a ic 74 68 70 64 % - ee 78 72 74 58 es at's k's > dled shale 055d 79 73 75 69 Lap Weld, extra strong, pls 1in ends, card weight. RG een Na cas soo ae OORT 75 >. 7 65 NN MNO is (is Sic. aia: duke. 0 aaa 77 71 73 67 on | Re rR 76 70 72 66 SNL 4 a's Dina aKa ewe 69 59 65 55 Sy are eg 64 54 60 50 sutt Weld, double extra strong, plain ends, card weight. eS Nik 6 aka ike ate bie 'e-w puree 64 58 60 54 Dae EMSIRS ssi 5's sop le de oo & 67 61 63 57 Dy Oe ok Ue RTI RS SiS 69 63 65 59 > Lap Weld, double extra strong, nlain ends, card weight. Eos eae td page ying 65 59 61 5 Eee ei hs oats Pee th 67 61 63 57 ee We ls yb cick \.08's Sha wwe 66 60 62 56 POUR GAGs o-0 4 woo 65.8 6 ee 49 55 45 April 20, 1911 THE IRON AGE 951 THE IRON AND METAL MARKETS Plugged and Reamed. 1 to 1%, 2 to3 in... Butt Weld { Will be sold at two (2) points lower basing (high- er price) than merchant or card weight pipe, Butt 2,2% to4in.......Lap Weld (or Lap Weld as specified. The above discounts are for “card weight,” subject to the usual variation of 5 per cent. Prices for less than carloads are three (3) points lower basing (higher price) than the above dis- counts, Boiler Tubes.—Discounts on lap welded steel boiler tubes to jobbers in carloads are now as follows: oo Te 2, & Beever ter tt ee eas 65 OO Med T) ace 1 ies ote acd earn on eset 67% BU tO OM Oct ceca cncsee LEY eit a Ae 70 Bae CHENG Wiis osc ciceseeadscpepigessapee sae 72% GS BE OTB as snc ce cewek betes cvcecs0 9.9 068s 43 75 TOU AS Ey do ec ec alea Sree taste seed esas 62% Less than carloads to destinations east of the Mississippi River will be sold at delivered discounts for carloads lowered by two points, for lengths 22 ft. and under; longer lengths, f.0.b. Pittsburgh. Usual extras to jobbers and boiler manufacturers. Wire Rods and Wire.—Bessemer, open hearth and chain rods, $29 to $30 per gross ton. Fence wire, Nos. 0 to 9, per 100 Ib., terms 60 days, or 2 per cent. discount in 10 days, carload lots, to jobbers, annealed $1.60, galvanized $1.90; carload lots, to retailers, annealed $1.65, galvanized $1.95. Galvanized barb wire, to jobbers, $2.10; painted, $1.80. Wire nails, to jobbers, $1.80. The following table gives the prices to retail merchants on wire in less than carloads, including the extras on Nos. 10 to 16, which are added to the base price: Fence Wire, Per 100 Lb. NOG... 140-1: ee Te 11 12812413 14 15 16 Annealed......$1.7% 1.80 1.85 1.90 2.00 2.10 2.20 2.30 Galvanized..... 2.05 2.10 2.15 2.20 2.30 2.40 2.80 2.90 Market and Stone Wire in Bundles, Discount from Standard List. sright and Annealed : DB OMA, CORPHET 6c oe ccna vmtewasoe bernels abema me 80 OB MAS baa 0.4,4.44.0 00 4:64 60a dee eke ie 80 and 10 Oe ho b.« 6 009% 000 ke a nese 80 and 10 and 2% BT GR Bees s 0th Odd 60S Fee tree cninh st ademee 80 and 5 Galvanized : a oT Aa ee er er ee 75> and 10 {og ge SRR ONS Perron rer 75 and 10 SF Gh Bis 066d oes sehluds pane 665 Saas 72% and 10 Oe ON Wiha dks bake eRe eed eee ho de eee 72% Coppered or Liquor Finished : D GU BOAT a icsinc 5 oledk es ins cae) oes 75 and 10 oe Ss Serr res Pec ee ee ee ee 75 and 10 27 to 36 Tinned : @ DRAG aad Os SEs b6o dit Th es 75 and 10 and 10 L cM Mak aie'uh ate eae wee eas 70 and 10 and 5 Pittsburgh Park Buitpine, April 19, 1911.—(By Telegraph.) Pig Iron.—No important inquiries are out for pig iron, and only a few small lots are being sold, of not over 300 tons. Several blast furnaces in this district and in the valleys will go out the coming week on account of the lack of demand. Prices are largely nominal, as not enough busi- ness is being offered by consumers to test the market. We quote Bessemer pig iron, $15; malleable Bessemer, $13.75; basic, $13.75 to $14; No. 2 foundry, $13.75 to $14, and gray forge, $13.50, all at Valley furnace, the freight rate to the Pittsburgh district being 90c. a ton. Steel.—-Prices on both Bessemer and open hearth steel are not as firm as they were. Open hearth billets and sheet bars are being offered by dealers in small lots for prompt shipment at about $1 per ton under regular prices. As nearly all consumers are covered by contract, there is very little new demand, but specifications are not coming in as freely against contracts, especially from the sheet mills, as they were some time ago. The larger steel mills are still quoting regular prices, which they claim they are holding firmly, as follows: Bessemer and open hearth billets, 4 x 4 in. and up to, but not including, 10 x 10 in., at $23, base, and sheet and tin bars in 30-ft. lengths, $24; 144-in. billets, $24; forging billets, $28, base, usual extras for sizes and carbons—all prices f.o.b, Pittsburgh or Youngstown dis- tricts, freight to destination added. (By Mail.) The quietness existing in the iron trade for some months is even more pronounced. April has been a distinct disap- pointment so far, new orders and specifications against con- tracts showing a large falling off as compared with the first half of March. 'There is nothing in sight that indicates early betterment, and while prices of finished products in the main are being fairly well observed, this is largely for the reason that hardly enough new business is being offered to test them. Consumers are not inclined to make contracts, even when offered the privilege of doing so, for last quarter de- livery. There is a distinct feeling that it is going to take strong efforts to maintain the present level of prices, and consumers are not running any risks of a decline. Further declines in iron and steel scrap have taken place, with prac- tically no business offering. Ferromanganese.—The market has been quiet the past week, the only reported sale being one of about 400 tons for third quarter delivery, at about $36.50, Baltimore. We quote SO per cent. foreign at $36.50 to $36.75 in large lots and $37, Ba