The Iron Age 1911-06-15: Vol 87 Iss 24

Established Published Every Thursday 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. W. H. Taylor, ° ° President and Treasurer 1. A. Mekeel, - - - - - - First Vice-President Harold S. Buttenheim, - Second Vice-President and Secretary Editors Branch Offices Philadelphia, Real Estate Trust Building Chicago, Fisher Building Pittsburgh, Park Building Cleveland, American Trust Building Boston, Compton Building Cincinnati, 807 Andrews Building Geo. W. Cope, A. I. Findley, W. W. Macon, CONTENTS. A More Cheerful Feeling cr aa i WUCOUER s de eee cde icodsacesbe A Thousand an Acre for Connellsville Coal Correspondence The Steel Corporation’s Policy of Publicity The Youngstown Sheet & Tube Company Will Build Open- Hearth Steel Plant Forging Press Catalogue Obituary Personal Pee. See er SOE PR oo os kadeveeescctosaebua 1450 to 1460 The Westinghouse Electric Annual Report The World’s Railroad Mileage in 1909 Promising Crop Conditions The Administration and the Steel Corporation Efficiency of Coney Island Fire Pumps...............eeeeee% 1462 May Copper Production and Stocks....¢....ccsecceeeceveees 1462 The Pittsburgh Foundrymen’s Association The Future in Blowing Engine Practice The Steel Corporation’s Unfilled Orders.............+e+ee00:: 1463 Labor Troubles at the Baldwin Works.................ee00: 1463 The Knox Pressed & Welded Steel Company Industrial Works Catalogue Oriskany Iron Property Changes Fil Pn POON eos ic dau vain kno tinw's Hoes eecakewesen 1465 Carnegie Steel Company Buys Bassett-Presley Company The Steel Corporation Investigation The Steam-Hydraulic Forging Press \ New Illinois Structural Mill Steam Engineers’ Convention A Novel Use of Allan Bronze \merican Machinery in Europe Mower Part Molding Machines Lake Ore Shipments for May [he Ransom Buffing Lathe A New Perforating Plant. in Chicago The Rockford Positive Geared Drill Feed (he Machinery Markets Government Purchases.... Trade Publications _ THE IRON AGE 1855 New York, June 15, 1911 VoL. 87: No. 24 A More Cheerful Feeling Belief Growing That the Worst Is Over Pig Iron Prices Slightly Lower, but More Business lhe steel market presents a more cheerful aspect. The feeling in Pittsburgh is that the worst is over and that from this time improvement is to be ex- pected. The recent reduction in prices appears to have made good. The volume of new business of steel manufacturers has quite considerably increased in the past ten days and the bookings of the past week were larger than those of the previous week. Specifica- tions against contracts are more liberal in all lines except those which are influenced to some extent by the approach of the inventory period about July 1. Reports received show that a number of mills in the Pittsburgh and Youngstown districts are working fuller in all departments. It may be said with regard to the position of the Republic Iron & Steel Company in the market that in taking the initiative in reducing steel bar prices its action was not hasty but was taken after protracted efforts had been made to prevail upon other bar manu- facturers to make the revision of prices which ap- peared necessary. It was done after careful delibera- tion, having been recommended by those responsible for the business management of the company, indorsed by the unanimous vote of the board of directors. It was further done at a time when jobbing interests and consuming manufacturers had a minimum of stock on hand and would lose comparatively little in the shrinkage in value of such stocks. It is gratifying that this imperative readjustment in the price of steel bars has not impaired the market on other steel prod- ucts. It mugt be admitted that the company continued to co-operate with other bar manufacturers for a con- siderable period after the fact was made manifest that its trade, which is so heavily in steel bars, was suffering from the much lower prices made by iron bar and hard steel bar manufacturers. As it is by no means con- ducting a so-called price war, its action may after all tend to strengthen the cooperative movement in the steel trade by showing the necessity that this move- ment should have more flexibility in meeting changed trade conditions. Contributing to the cheerfulness are some develop- ments outside of mere market circles. The investiga- tion of the United States Steel Corporation at Wash- ington, instead of uncovering anything of disadvantage to that great interest, has so far been distinctly disap- pointing to the investigators, while the decision of the grand jury of the United States Court at Pittsburgh that nothing has been found in the recent coal lands purchase on which to base an indictment is also much more agreeable than if a criminal prosecution had been started. The pig iron trade is better, although prices are a ae pier Sen pala gree fener a s a ad 4 sie _ ra ’ 1446 THE IRON AGE trifle lower, particularly on Southern iron. Quite im- portant transactions in basic pig iron have taken place. In addition to 25,000 tons purchased by an eastern Pennsylvania steel company for fourth quarter deliv- ery, which was reported last week, a southern Ohio steel company has purchased 4000 tons and a New Jersey consumer 6000 tons, while inquiries are out for other round lots. The aggregate of transactions in foundry pig iron is believed to have been somewhat larger than for the previous two or three weeks. An indication of the character of current consumption is the fact that Alabama stocks of pig iron on June I showed but a slight increase on those of May 1 and hence the May shipments practically equaled the out- put of the Alabama furnaces. The rail situation shows decided improvement. The Kansas City Southern has bought 14,000 tons; the Pere Marquette, 5000 tons; the Missouri Pacific, 28,000 tens, in addition to the purchase reported last week; the Cuba Central, 8000 tons; the National Railways of Hayti, 8000 tons. Definite inquiries are in hand for quantities ranging from 10,000 to 50,000 tons from large railroad systems while officers of other lines re- port that the question of purchasing heavy quantities is under consideration by their respective boards. Large inquiries are in the market for wrought pipe fer gas lines, one of which calls for 300 miles of 16 to 20 in. All non-ferrous metals but pig tin have advanced in the past week. Electrolytic copper is now selling at 12%c., New York, and Lake at 12%c. Pig tin is lower in New York, although higher in London. — Judge Gary as a Witness E. H. Gary, chairman of the United States Steel Corporation, has proved the most interesting witness appearing before a Congressional committee in a very long time. His manner and his methods have been rather surprising to the committee of the House of Representatives which is now investigating the United States Steel Corporation and of which Representative Stanley of Kentucky is chairman. Judge Gary has at all times been frank in answering the questions put to him; and, more than this, has frequently expanded his answers so as to give the members of the com- mittee and the country as complete particulars re- garding the corporation and its affairs as he has in his possession. This is in perfect harmony with the publicity policy of the Steel Corporation for which Judge Gary has been in a large measure responsible. From the day of its organization it has concealed nothing which it is for the interest of the shareholders or the public at large to know. The witness has gone beyond the lines of the mere investigation into his corporation. He cuts out a great deal of work for the government and for those who feel that its energies may be directed more broadly in look- ing after the interests of the people. He has given men of affairs a great many matters to think about, and has gone further than a man in his position might be expected to do in inviting official oversight. He has stated that he believes in the government control of large corporations and in the close scrutiny of their affairs by governmental commissions. He has ad- mitted that abuses exist in the conduct of large cor- porations and that it is eminently desirable that some supervising body should exist to which they would be held directly responsible for improper methods. He ad- June 15, ion vocates a federal licensing plan to conduct an interstate business, the license to be revoked in the event o; the corporation violating the law, but with the right to ap- peal to the courts. He expresses himself strongly 3; to the danger of one man securing such financial and industrial power as J. P. Morgan, stating his belief that a man of Mr. Morgan’s wealth and busj- ness capacity could do a great deal of harm as well as good, and it is for this reason, among others, that the government should exercise more control over bank- ing institutions as well as great corporations. Judge Gary does not evade the responsibility of bringing about a closer co-operation in the maintenance o{ steel prices, but boldly justifies what has been done in that direction. He goes further than this in stating his belief that the government should control prices, He readily indorsed a suggestion that a joint commit- tee of Congress be created to obtain the views of both capital and labor in regard to the strengthening and elaboration of the Sherman anti-trust law. While many will heartily agree with Judge Gary in the attitude he takes on a number of the important subjects touched upon in his testimony, the steel trade generally is not likely to support his suggestion that the government should in any way attempt to regu- late prices. A large corporation like the United States Steel Corporation is, of course, at this time in a peculiar position. If it co-operates with other manu- facturers in the same line, and by mere interchange of opinions, but without actual agreement, maintains its prices on the same level as theirs, it is, neverthe- less, in danger of prosecution for criminal conspiracy in vi- olation of the Sherman anti-trust act. On the other hand, if it holds itself aloof from all conferences with them, makes it prices more attractive than those of its com- petitors, and by so doing injures their business or com- pels them to close, it is then likely to be charged with endeavoring to establish a monopoly and may suffer the fate of the American Tobacco Company. If the corporation would. placate a very important part of the public it must compete actively and vigorously, while if it would avoid prosecution by the government it must compete so gently that it will not injure any one of its competitors by capturing business from it. In any event, it will be found almost impossible to please that section of the public which would “bust the trusts.” The question of establishing prices, however, is regarded by the trade as having no such intimate con- nection with the regulation of large corporations as to call for government interference as a related subject. It is admitted that the government should suppress combinations to hold up or advance prices, but few are prepared to believe that the prices of their prod- ucts could be satisfactorily fixed by any kind of gov- ernment commission. It is to be hoped that out of this investigation will come such an education of the general mind with re- gard to large corporations that the situation may be made much clearer with respect to their rights to exist. Public sentiment is capable of being directed along sensible lines, notwithstanding the impression that demagogues have succeeded in securing the great- est following. This has been shown at repeated times in our history when the danger existed that our law- makers would be driven into wild legislation in ac cordance with what seemed to be the popular will. Out of the agitation and out of the conflict came 4 saner, clearer perception of what should be done, and * - June 15, IQII , majority of the people ranged themselves on what ,iterward proved to be the right side. This may be the outcome of the present investigation, prompted though it be by hostility to the leading industrial cor- joration of the country and of the world. ————.§-- A Thousand an Acre for Connellsville Coal (he United States Steel Corporation’s purchase of Connellsville coke properties of the Pittsburgh Coal Company was at a price of approximately $1,000 acre. The properties were held by the coal com- y through its subsidiary, the Colonial Coke Com- pany. The company’s last report showed 7077 acres unmined January I, 1911, so that a trifle more than 7000 acres remain at this date, which, with all the mprovements, is bought for $1,450 an acre, making a total price, at 7000 acres, of $10,150,000. The value of the improvements is variously estimated, some esti- mates running up to $3,000,000, which would leave approximately $7,000,000, or about $1,000 an acre, for the coal seam itself. The establishment, or rather the re-establishment, i the thousand-an-acre price for Connellsville coal comes as a shock to many Connellsville operators, and perhaps to others who may have been impressed with their arguments as to the extremely great value of this fuel. The shock, however, is not as great as it would have been had there not been the preparation for it furnished by Connellsville furnace coke naving sold at from $1.50 to $1.75 per net ton at oven during the past twelvemonth. For a series of years selling prices had been pushed upward until straight sales were made at more than $2,000 an acre, and when an effort was made, in the late spring and early summer of 1909, to buy up the independent operations in the region for the purpose of forming a consolidation the prices asked by individual operators ran up to $3,000 and $4,000 an acre, with improvements, indicating that many operators considered the seam worth up- ward of $2,500 an acre. Throughout this movement the H. C. Frick Coke Company, the coke subsidiary of the United States Steel Corporation, maintained a position that Con- nellsville coal could not be worth more than about $1,000 an acre. Frequently its policy was criticised, its refusal to take hold of various “bargains” at con- siderably more than the figure being regarded as a mistake, The recent transaction vindicates its position, At long range, the thousand-an-acre price does not appear as such a low one. The Hodge legal attack on the Steel Corporation’s proposal to issue bonds and retire a portion of its preferred stock in 1902 forced the corporation to defend its capitalization. At that time the idea that a large part of the capitalization was “water” was very much more prevalent than now, d the finding of $1,400,000,000 of assets, as was ‘one in the answer to the Hodge bill of complaint, as regarded in some quarters as quite a stroke. It ‘ interesting now to turn back and find that im the schedule of assets there appeared, after the famous 700,000,000 set down as the value of the ore properties, e item: “Coal and coke properties (87,589 acres) 00,000,000.” At that time the corporation owned bout 60,000 acres of Connellsville coal, the remain- ‘1g 27,000 or 28,000 acres being chiefly steam coal. \ll were more or less improved, and with over 16,000 ens in the Connellsville region it is quite reason- “ble to infer that the Connellsville coal contributed aa f> THE IRON AGE 1447 less, rather than more, than $1,000 an acre to the total of $100,000,000 given as the value of all the coal and coke properties, including the improvements. How absurd were the extreme estimates of value of Connellsville coal may be illustrated by some sim- ple computations. It is usually taken that an acre of the seam will produce 7oo00 tons of coke, although experience shows a little better than this. As the Colonial property has just been sold, its showing may be mentioned. In 1909 it exhausted 67 acres and pro- duced 484,903 tons of coke, which is at the rate of 7250 tons per acre; in 1910 it exhausted 81 acres and produced 635,338 tons, at the rate of 7850 tons per acre; the average of the two years was thus better than 7500 tons. While the Connellsville region is supposed to be clearly marked, it is a fact that the total area regarded as unmined Connellsville does not diminish from year to year directly as the annual ex- haustion. It may be taken that there is about 90,000 acres fully entitled to be considered Connellsville. The region has never produced 21,000,000 tons of coke in a year, and there is no distinct prospect that it ever will; but even this would exhaust no more than 3000 acres at the outside, requiring 30 years or more of full operation to exhaust the region. Allowing for bad years, the life can easily be taken at 40 years according to present prospects. Of each 40 acres one acre would be exhausted each year, producing 7000 tons of coke, which would have to carry interest and sinking fund on the entire 40 acres. At five per cent., which is a very low rate considering the vicissitudes of such a business, the annual sinking fund is about $8 per 1000; interest being $50, this makes a total of $58 per 1000. At $3,000 per acre there would be $120,000, requiring $6,960 a year, to be borne by a production of 7000 tons, which is almost precisely $1 per ton. That ton of coke would also have to carry interest and sinking fund on the development cost and all other expenses. Obviously, then, either the $3,000 an acre, or the estimate of 40 years’ life for the region, or both, must be absurd. As a matter of fact, many of the Connellsville operations have been on a basis of making profits through fortuitous circumstances, rather than convert- ing into cash their respective portions of the total value of the Connellsville seam. They have been able to operate on a basis of exhaustion in from 15 to 25 years—in a few cases less than 15 years of full out- put—simply because other acres were aligned to be exhausted much more slowly. Particularly, in this connection, there have been the reserves of the Steel Corporation. Roundly speaking, the corporation has in the past eight years been mining Connellsville coal at the average rate of little more than 1000 acres a year, although owning an average of 60,000 acres, thus proceeding on the basis of having its reserves last more than 50 years. That operated to shorten the apparent life of the outside acreage, but in the long run such a basis is not a safe one. Independent operations which are based upon a valuation of much more than $1,000 an acre for the coal are not in a very comfortable position. The trade custom, though how established it might be hard to ascertain, is to count on two acres per oven in establishing a basis for an operation, the prospective life being then taken at from 20 to 25 years. The defense is that a modern oven produces about 14 tons a week, which, at 50 weeks per year, practically full operation, means 700 tons per year, or 14,000 tons, the assumed product ener 1448 ‘THE IRON AGE of two acres, in 20 years. Then five years are added for a margin to cover “bad years” and the operation is taken to rest on a fairly reasonable foundation. At $1,000 an acre the interest and exhaustion charge for a 20-year life, at 5 per cent., is $50 for interest and about $30 for sinking fund, $80, agaihst 350 tons of coke per year, or 23 cents per ton. At 25 years’ life there is $50 interest and about $20 sinking fund, $70, against 280 tons, or 25 cents per ton. At this valua- tion per acre, Connellsville coke can with comfort to the producer sell at considerably less than $2 per ton. The bare cost of production is nearer $1 than $1.25, and it is probably not unfair to allow the same amount for interest and depreciation on the plant as was al- lowed on the coal, so that the prices of the past twelve- month, $1.50 to $1.75 per ton, appear to be in close relationship with a valuation of $1,000 an acre and operations to exhaust in from 20 to 25 years. The United States Steel Corporation’s uimmined acreage of Connellsville coal has been given as follows in its annual reports as of December 31 each year, all the acreage being owned, except for 1000 to 1500 acres reported leased in the past three years: Years. Acres. Years. Acres. ASUS yrcinesossnesvenen STO BOOT oa we sadness vicses 62,253 |) eee or ge. re rere re SE. PhS aed sapien ceeds 62,984 RE eee 58,358 SD ehh an ashe tpl ae ee SO PRO 60 bots cee nd Sd v¥e a OS Be Savin sek yh ace sacnd 62,517 The average exhaustion has been, as noted, a trifle over 1000 acres a year. The unmined acreage rose until the end of 1905, indicating that the corporation was buying additional properties. During the next five years it decreased a trifle less than 7000 acres, in- dicating that the corporation was not acquiring addi- tional properties. The period of excessive valuations had been reached and the corporation left the coal land market alone. With the market’s return to an older idea of values, the corporation has made a pur- chase equivalent to half a dozen years of its produc- tion, which does not indicate any very strenuous striv- ing after monopoly. At the present rate of exhaus- tion, the Steel Corporation can see half a century of life to its holdings, the outside holdings promising to last about half as long, according to the present rate. The figures merely indicate that exhaustion is remote in either case, for developments as to the character of coke needed for blast furnaces, and the character of coal which can be used to make the coke, come very rapidly. ceighiidenisjuilililiaiatliastict Correspondence The Ethics of Selling Machinery To the Editor: Your article in The Iron Age of June 1, on “Beating Down Machinery Prices,” is interesting because you state that “such buying methods are clearly reprehensible and against general business ethics.” In effect you state that the process consists in playing one bidder against another until from each bidder is got- ten a price which is declared to be his lowest, and, as no salesman has convinced the buyer that he should buy one machine in preference to another, he puts the matter up to the salesmen, stating that, all other things being equal, price will govern. In each case the salesmen secured a lower price from the home office and the order was placed at a ridiculously low price. It would interest me to know why you criticise such buying methods instead of such selling methods. The buyer has simply bought what best suited his needs, as he believed, and bought at the lowest price. The sellers, on the other hand, have considered that conditions war- ranted it, and cut the price to whatever degree they thought they needed the order. The buyer, it would seem June 15, igri to me, would rather have the lowest price first and thereby avoid the necessity for any dickering, as no buyer can expect to get the best of the bargain every time. The very keen competition and the desire of machinery manufacturers to keep their organization together in these dull times justify the buyer’s belief that he can buy a less than list prices. To be sure, this occurrence may have brought about spirited price-cutting among the s¢ll- ers of a certain class of machinery and upset their conf- dence in each other, but why is the buyer blamed? Your article states that the machinery maker who always quotes the lowest figure consistent with his business policy and sticks to it is not bothered by “sweating tactics.” Just so. But in the case you mention they did not quote the lowest price first, and if any one acted reprehensibly it was the sellers, and not the buyer. A little discussion on business ethics might promote better distinctions between a deal and the policy which governs a deal. S. T. Topsy. New York, June 5, IgIlI. ++. The Steel Corporation’s Policy of Publicity The New York Commercial of June 6 thus expresses the general appreciation of the policy of publicity shown by Chairman E. H. Gary, of the United States Steel Cor- poration : By reason of the fact that conferences between the competing iron and steel interests of the United States like that of the Metropolitan Club luncheon in this city last week are very largely confidential and private affairs and thus permit their details with propriety to be withheld from publication, it must be conceded that Judge Gary, chairman of the executive board of the United States Steel Corporation, has rendered a distinct public service in releasing to the newspapers his address to the assembled steel “magnates” on that occasion. The incident is all- important as emphasizing the corporatiori’s established pol- icy of taking the public into its confidence and that of the steel trade in general within reasonable bounds; and it is illuminating at the moment as disclosing the attitude of the trade toward the recent Oil and Tobacco decisions by the United States Supreme Court. The chairman advises a strict compliance with the terms of those rulings—suggests that the iron and steel trade take a leading part in doing its best to hold up the hands of the federal government in order to bring about an improvement in the industrial conditions of the country. “I would not,” he says further, “under any circumstances, make any agreement, expressed or implied, direct or indirect, to maintain certain prices, to keep away from customers, to divide territory, to restrict output or to make any agreement of any sort or description with you or any of you, because, as I understand the law, I have no right to do it.” Here is a plain, unmistakable, unequivocal notice to the trade, to the country at large and to the government that the Steel Corporation may be de- pended upon to obey the law as it stands, so long as it is the law—that it will make no effort to “get around” the law. And obviously the competing interests in the con- ference all acquiesced in this clearly defined policy of the leading company in the trade. The fact ought to have a distinctively steadying and reassuring effect on the busi- ness of the country. 8 ee The Youngstown Sheet & Tube Company Will Build Open-Hearth Steel Plant.—The Youngstown Sheet & Tube Company, Youngstown, Ohio, definitely decided last week to proceed with the building of an open-hearth steel plant to contain six 75-ton furnaces with blooming mill to roll up to 36-in. slabs. The plant is to be connected with the present sheet bar and billet mills, so that the two blooming mills will be interchange- able as far as the Bessemer and open-hearth steel product is concerned. The company intends to build some addi- tional finishing capacity to use up a large percentage of the steel made in the new plant, but just what will be made will not be decided for several months. This com- pany has operated for some years a large Bessemer steel plant, the second largest in the country, and makes iron and steel pipe, iron and steel sheets, wire rods, wire nails and wire. Contracts for the building of the open- hearth steel plant will be placed in a very short time. June 15, IQII Personal enry C. Adams, former chief statistician of the In- te Commerce Commission, has been appointed chief e bureau of statistical research of the New Yorx ral Railroad, a new department organized for the pur- \f testing the Brandeis theories of economies in rail- management. Hamilton Church, consulting industrial engineer, au- of “The Proper Distribution of the Expense Burden,” inces that he has commenced practice for himself, is forming a strong organization to handle all depart- s of industrial betterment, intensified production, effi- iency work, routing methods and costs. He reports sev- contracts already in hand for the installation of cost ystems based on his method of “production factors.” His iddress is P. O. Box 1362, Boston, Mass. Joseph V. Woodworth, formerly superintendent of the rwood Mfg. Company, Brooklyn, N. Y., and author of ny well-known books on machine shop practice, is now ith the Taft-Pierce Mfg. Company, Woonsocket, R. L., consulting engineer and expert in sheet metal formation nd punch and die practice. E. H. Hargrave, president of the Cincinnati Tool Com- iny, Norwood, Ohio, has returned from an extended isiness trip through the Hawaiian Islands, New Zealand, \ustralia, Japan and the Philippine Islands. William B. Melish, president of the William B. Melish Company, Cincinnati, has returned from a business and pleasure trip to Europe. E. G. Schmeisser, electrical engineer, a graduate of the Massachusetts Institute of Technology, formerly assistant engineer in the department of electric traction of, the Pennsylvania Railroad, has been elected second vice- president of the Wiener Machinery Company, 30 Church street, New York. The capital of the Wiener Machinery Company has been increased recently to $25,000, and branch ffices have been opened in Pittsburgh and Boston. C. M. Neeld, for 11 years connected with the McClin- tic- Marshall Construction Company, Pittsburgh, has re- signed and has organized the C. M. Neeld Construction mpany with offices at 1418 Oliver Building, Pittsburgh, do a general contracting and engineering business in the designing and erection of steel frame or concrete build- igs, bridges, etc. Charles E. Pope, president of the Pope Tin Plate Com- iny, Pittsburgh, Pa., has sailed for Europe, to be gone out two months. A. Campbell, president of the Youngstown Sheet & ube Company, Youngstown, Ohio, will sail for Europe ine 17, expecting to return about September 1. Joseph G. Butler, Jr., president of the Bessemer Pig ron Association, Youngstown, Ohio, will sail for Europe lune 17. He will return about September 1. A. H. Baldwin, superintendent of the Driggs-Seabury Ordnance Corporation, Sharon, Pa. has resigned, eff¢ct- ive June 15, and his assistant, C. E. Wilder, has also resigned. 'rederick Baldt, Sr., long and favorably known in the steel casting business, has become identified with the Brylgon Steel Casting Company, New Castle, Del., as Ss manager. (he American Institute of Mining Engineers, at its nt meeting at Glen Summit; Wilkes-Barre, Pa., elected honorary membership Prof. Robert H. Richards, Bos- n, Mass., and Dr. Kossiter W. Raymond, New York. E. Ford, for the past year district sales manager Chicago territory for the Ford Chain Block Company, idelphia, has opened an office in Room 745, First National Bank Building. '. D. Reed, assistant to the vice-president of the Chi- . Rock Island & Pacific Railroad Company, has been ointed purchasing agent of that company, with office in icago, to succeed J. M. McCarthy, who recently re- signed. W. R. Owen has been appointed assistant pur- sing agent. _ Willard C. Brinton, formerly with the Westinghouse ‘ectric & Mfg. Company, East Pittsburgh, Pa, is now assistant vice-president of the United States Motor Com- Sixty-first street and Broadway, New York City. THE IRON AGE 1449 William J. Reilly, who has been manager of the Cleve- land oftmce of the Babcock & Wilcox Company, has been transterred to Denver, where he will represent the com- pany in a similar capacity. He.is succeeded in the Cleve- land office by T. P. MacFarland, who has been connected with the Pittsburgh office of the same company. James Duane, Jr., formerly superintendent of Saxton Furnaces, Saxton, Pa., has. been appointed superintendent of blast furnaces for the Pittsburgh Crucible Steel Com- pany, situated at Midland, Pa., effective June 1. H. R. Stacks, who until recently was superintendent of foundries of the Nelson Valve Company, Wyndmoor, Pa., has severed that connection and will engage in contract- ing and engineering, particularly in connection with con- centration plants and will market as a specialty the Lehigh stone crusher. An office for the transaction of business has been opened at 725 Reed Building, Philadelphia, Pa. I. F. Hepler, formerly of the Republic Iron & Steel Company, has associated himself with Burrows, Sloan & Co., 1520 Real Estate Trust Building, Philadelphia, Pa., in their construction department, as chief engineer. Obituary James Lappan, president of the James Lappan Mfg. Company, Pittsburgh, died in St. Francis Hospital in that city June 6 after a short illness, aged 77 years. He was born in Ireland and went to Pittsburgh in 1854, where he entered the employ of the D, F. Agnew Boiler Mig. Com- pany. Engaging in business for himself under the name of James Lappan & Co., his operations grew until the firm was incorporated as the James Lappan Mfg. Company, manufacturing boilers and other heavy plate work exten- sively. He leaves one son and two daughters. LAWRENCE Di_wortH, Pittsburgh, died suddenly of heart trouble June 13, aged 57 years. He was a member of Dilworth, Porter & Co., Ltd., spike manufacturers, and of the wholesale grocery firm of Dilworth Bros. He was born in Pittsburgh and received his education at Lafayette College. a a Forging Press Catalogue—The United Engineering & Foundry Company, PittSburgh, Pa., has issued an at- tractive catalogue describing a line of high speed forging presses of the steam-hydraulic intensifier type which it builds under the Davy patents. These presses’ are in- tended for all classes of forging, shearing or pressing work and range in capacity from 100 to 12,000 Ibs. The construction of the presses is described and this is fol- lowed by a set of specifications for a press of the four- column type. After this are a number of full-page illus- trations showing the different types of presses in opera- tion and also some specimens of the actual work produced by them. Two of the illustrations which are especially interesting show one of the company’s single frame presses in operation in America and on the facing page is exactly the same size press set up in India that illustrates the éase- with which forgings can be made without employing skilled labor. 2 No. 2 Swede furnace, of the Heckscher furnace de- partment of the Alan Wood Iron & Steel Company, Swedeland, Pa., will be blown out June 18. No, 1 fur- nace was blown in late in May. General repairs, which will require about two months’ time, will be made. Arthur G. McKee, engineer, Rockefeller Building, Cleveland, has been given a contract for the construction of three hot blast stoves at the Midland, Ont., plant of the Canada Iron Corporation. The stoves will be of the Nelson type, 20 x 90-ft., two-pass, side combustion. Single pieces of coke 52 in. in length were exhibited at the recent foundrymen’s convention in Pittsburgh by the Graceton Coke Co«any, Graceton, Pa. These were, of course, calculated to show the strong structure of the coke, tending to prevent its breaking up and giving rise to dust and waste material in shipment. Governor Foss, of Massachusetts, has signed a bill which shortens the weekly working hours of women and minors from 56 to 54 hours. He has also signed a bill making eight hours a day's work for all public employees. THE IRON AGE June 15, IQII The Iron and Metal Markets A Comparison of Prices Advances Over the Previous Week in Heavy Type, Declines in Italics. At date, one week, one month and one year previous. June 14 June7 May 10 June 15 PIG IRON, Per Gross Ton: 1911. 1911. 1911. 1910. Foundry No. 2, standard, Phila- BOER: 4 da ddvess WEGRG and é $15.00 $15.00 Foundry No. 2, Valley furnace... 13.50 13.75 Foundry No. 2, Southern, Cin- cinnati Foundry No. 2, Birmingham, Ala. Foundry No. 2, at furnace, Chicago* Basic,. delivered, eastern Pa.... Basic, Valley furnace Bessemer, Pittsburgh .......... Gray forge, Pittsburgh Lake Superior charcoal, Chicago $15.50 13.75 $16.75 14.75 15.00 11.75 13.50 10.25 43.75 10.50 14.25 11.00 16.75 16.25 14.75 16.65 15.15 18.50 15.00 14.50 13.10 15.90 13.90 17.00 15.00 14.50 13.10 15.90 14.15 17.00 15.00 15.00 13.50 15.90 14.40 17.50 COKE, CONNELLSVILLE, Per Net Ton, at oven: Furnace coke, prompt shipment J ‘ 1.55 Furnace coke, future delivery.. ‘ i 1.75 Foundty coke, prompt shipment 2.15 Foundry coke, future delivery. . 2.25 BILLETS, &c., Per Gross Ton: Bessemer billets, Pittsburgh.... Forging billets, Pittsburgh Open hearth billets, Philadelphia Wire rods, Pittsburgh OLD MATERIAL, Per Gross Ton: Iron rails, Chicago 14.00 Iron rails, Philadelphia 16.50 Car wheels, Chicago 12.50 Car wheels, Philadelphia 13.00 Heavy steel scrap, Pittsburgh... 12.75 Heavy steel scrap, Chicago.... 10.25 Heavy steel scrap, Philadelphia. 13.00 FINISHED IRON AND STEEL, Per Pound: Cents. Bessemer rails, heavy, at mill.. 1.25 Refined iron bars, Philadelphia. 1.27% Common iron bars, Pittsburgh. . 1.25 Common iron bars, Chicago.... Steel bars, Pittsburgh Steel bars, tidewater, New York Tank plates, Pittsburgh Tank plates, tidewater, New York Beams, Pittsburgh Beams, tidewater, Angles, Pittsburgh Angles, tidewater, New York.. Skelp, grooved steel, Pittsburgh Skelp, sheared steel, Pittsburgh SHEETS, NAILS AND WIRE, Per Pound: Cents. Cents. Sheets, black, No. 28, Pittsburgh — 2.00 i 2.20 2.40 Wire nails, Pittsburgh; 1.80 2 1.80 1.80 Cut nails, Pittsburgh 1.60 1.60 1.75 Barb wire, galv., Pittsburgh+... 2.10 2.10 2.10 METALS, Per Pound: Cents. Lake copper, 12.75 12.25 12.87% Electrolytic copper, New York.. 12.50 , 12.12% 12.50 Spelter, St. Louis 5.32% 5. 5.25 5.00 Spelter, New York so) 5.50 5.15 Lead; St. Louis.... 4.25 4.20 Lead, New York 4.40 4.37% Tin, N 41.50 32.60 Antimony, Hallett, New York.. 9.00 8.12% Tin plate, 100-lb. box, New York 3.94 3.84 *The average switching charge for delivery to foundries in the Chicago district is 50c. per ton. {These prices are for largest lots to jobbers. 25.50 31.00 28.50 31.00 17.00 20.00 15.50 15.00 15.25 13.00 14.50 Cents. 1.25 1.47% 1.50 1.47% 1.45 1.61 1.50 1.66 1.50 1.66 1.50 1.66 1.50 1.60 Cents. _ dS wn ~ dS o i dod ou ee ee Www UIiw vIiWw& > WOK unk Ue Ue UI Re WW UIW UI VIG & PD UO Ue Ue Oe on Cents. Cents. 3.94 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, ric.; Cleveland, toc.; Cincinnati, 15c.; Indian- apolis, 17¢c.; Chicago, 18c.; St. Paul, 32c.; St. Louis, 22%c.; New Orleans, 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, 1.35c. to 1.40c., net; I-beams over I5 in., 1.45¢. to 1.50c., net; H-beams over 8 in., 1.50c. to 1.55¢.; angles 3 to 6 in., inclusive, 14 in. and up, 1.35¢. to 1.40¢., net; angles over 6 in., 1.45c. to I.50c., net; angles, 3 in. . on one or both legs, less than % in. thick, 1.40c., plus full extras as per steel bar card effective September 1, 1909; tees, 3 in. and up, 1.40c., net; zees, 3 in. and up, 1.35¢c. to 1.40c., net; angles, channels and tees under 3 in., 1.40c., base, plus full extras as per steel bar card of September 1, 1909; deck beams and bulb angles, 1.65¢. to 1.70¢c., net; hand rail tees, 2.45c.; checkered and cor- rugated plates, 2.45c., net. Plates.—Tank plates, %4 in. thick, 6% in. up to 100 in. wide, 1.35c. to 1.40c., base. Following are stipulations prescribed by manufacturers, with extras to be added to base price (per pound) of plates: Rectangular plates, tank steel or See, to manufacturers’ standard specifications for structural steel dated February 6, 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 lb. per square foot, are considered 3-in. plates. Plates over 72 in. wide must be ordered %-in. thick on edge, or not less than 11 Ib. = _— foot, to take base price. Plates over 72 in. wide ordered less than 11 Ib. ~ square foot down to the weight of 3-16-in. take the price of -16-in. Allowable overweight, whether plates are ordered to gauge or weight, to be governed by the standard specifications of the Asso- ciation of American Steel Manufacturers. 2 Gauges under %-in. to and including 3-16-in. thinnest edge pale Gauges under 3-16-in. to and including No. 8........ Gauges under No. 8 to and including No. 9.......... Gauges under No. 9 to and including No. 10........ Gauges under No. 10 to and including No. 12....... Sketches (including all straight taper plates) 3 ft. and over in length . aes Complete circles, 3 ft. in diameter and over......... Boiler and flange steel....... pesceccapneasacnss “A. B. M. A.” and ordinary firebox steel............ Still bottom steel Marine steel Locomotive firebox . Widths over 100 in. up to 110 in., inclusive.......... Widths over 110 in. up to 115 in., inclusive.... Widths over 115 in. up to 120 in., inclusive.......... Widths over 120 in. up to 125 in., inclusive.... Widths over 125 in. up to 130 in., inclusive.......... Widths over 130 in Cutting to lengths or diameters under 3 ft. to 2 ft. inclusive .... Cutting to lengths or diameters under 2 ft. to 1 ft., inclusive ne awe er ee Cutting to lengths or diameters under 1 ft.......... 1.55 No charge for cutting 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 fol- lows: Blue annealed sheets, Nos. 3 to 8, U. S. standard gauge, 1.40c.; Nos. 9 and 10, 1.50c.; Nos. 11 and 12, 1.55¢.; Nos. 13 and 14, 1.60c.; Nos. 15 and 16, 1.70c. One pass, cold rolled, box annealed sheets, Nos. Io to 12, 1.65c.; Nos. 13 and 14, 1.70c.; Nos. 15 and 16, 1.75¢.; Nos. 17 to 21, 1.80c.; Nos. 22, 23 and 24, 1.85c.; Nos. 25 and 26, 1.90c.; No. 27, 1.95c.; No. 28, 2c.; No. 29, 2.05c.; No. 30, 2.15c. Three pass, cold rolled sheets, box an- nealed, are as follows: Nos. 15 and 16, 1.85¢.; Nos. 17 to 21, 1.90c.; Nos. 22 to 24, 1.95c.; Nos. 25 and 26, 2c.; No. 27, 2.05¢.; No. 28, 2.10c.; No. 29, 2.15¢.; No. 30, 2.25c. Galvanized sheets, Nos: 10 and 11, black sheet gauge, 2c.; Nos. 12, 13 and 14, 2.10c.; Nos. 15, 16 and 17, 2.25¢.; Nos. 18 to 22, 2.40c.; Nos. 23 and 24, 2.50c.; Nos. 25 and 26, 2.70c.; No. 27, 2.85c.; No. 28, 3c.; No. 29, 3.10c.; No. 30, 3.30c. All above prices are f.o.b. Pittsburgh, terms 30 days net, or 2 per cent. cash dis- count 10 days from date of invoice, as also are the fol- lowing base prices per square for painted and galvan- ized roofing sheets, with 2%-in. corrugations: Painted. Galvanized. $2.40 $3.50 2.60 3.70 2.80 4.05 3.05 4.35 4.05 5.70 4.90 6.50 Gauge. Painted. Galvanized. | Gauge. 29 hates 2.4 = 28 . a. Ue 27 ‘ 2.60 | 26 j 2.65 25 1.85 3.05 24 2.10 3.15 Wrought Pipe.—The following are the jobbers’ car- load discounts on the Pittsburgh basing card on wrought pipe, in effect from October 1: Butt Weld. 7 —-Steel——, -—Iron—— Black. Galv. Black. Galv. 1 to 1% wd 43 % jin 63 59 % to 1% in 69 65 2 to 3 in 70 66 66 67 67 59 13 to 15 in 6%... Butt Weld, extra strong, — ends ’, hs, % 2 in card weight. § 65 68 70 72 74 73 75 June 15, 1911 THE IRON AGE THE IRON AND METAL MARKETS Lap Weld, extra strong, oe ends, card weight. 2 iM. oveerecctveecenssbecce 5 69 71 65 5 te: SB Biv cchendadateies 77 71 73 67 6 CE Bhs s cc ceetctaeveun 76 70 72 66 tO Boies ccesccccccacsess 69 59 65 55 ) co Bis dude cs dvcudsmene 64 54 60 50 3utt Weld, double extra strong, plain ends, card weight. G MMe. ee ese dececccecseccces 64 5 60 5 Ve to 198 AM. ccecccccccccces 67 61 63 57 2 00 Setiiidacclak scaweeds 69 63 65 59 Lap Weld, double extra strong, plain ends, card weight. 2 carncte<y ake envncs eaenenl 65 59 61 55 244 tO. 4 IM. ce eccccccccccsce 67 61 63 $7 436 20. GBs cen dds cane eesen 66 60 62 56 7 te BS Eibatweeieaivessctbie 49 55 45 59 _ Plugged and_Reamed. 1 to 1%, 2 to 3 in. Butt Weld (Will be sold at two (2) points lower basing (higher pesos) Pes mere — or card weight pipe. utt or 2, 2% to 4 in..... Lap Weld lap wane as specified. [he above discounts are for “card weight,” eubject to the usual variation of 5 per cent. Prices for less than carloads are three (3) points lower basing (higher price) than the above discounts. Boiler Tubes.—Discounts on lap welded steel boiler tubes to jobbers in carloads are now as follows: ; : Steel 13, to. BRE Mivsvaecassxiacndactksnsearvwdde vst dees ves 65 244 Uh, vet kenescodcccsedestivas scandaduabanceneeness 67% 254 G0 BE MN kn 4s abc's cwO Suey ads ik bboe aoe s Cabeake 70 334 0 SRD Bis 6 b.nc cn cedegnsnvwepeccbiededbesesas donee 72% S te. B Maa dnian'e p06ehs 6st ndeleehbad sae eeeme sek iommae 65 7 te 30 Minas ok sn eed padwasenean bee bon eeeedhs dbabeters 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 feet and under; longer lengths f.o.b. Pittsburgh. Usual extras to jobbers and boiler manufacturers. Wire Rods and Wire.—Bessemer, open hearth and chain rods, $29. Fence wire, Nos. 0 to 9, per 100 Ib., terms 60 days, or 2 per cent. discount in 10 days, car- load 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 mer- chants On wire in less than carloads, including the ex- tras on Nos. 10 to 16, which are added to the base price: Fence Wire, Per 100 Lb. No. 0to9 10 11 12&12% 13 14 15 16 Annealed ....$1.75 1.80 185 190 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. Bright and Annealed: 9 a MVR - ssi etas we iGiasdgess kaeneedesas eta eel 80 10 00 Bibi ks 6 o-a'g & Ve okhwee ans Es tu ROR Rae yt a 80 and 10 1D 00 Bei aes wie hws bens bwekesdnwneduaie 80 and 10 and 2% 27 CG Fis 69 kl Oi k 6e vee an th Cas redeem eleces dee and 5 Galvanized: 9 GE CRN 6k Cisiuliteccdvcwtdesaucdaakivad 75 and 10 10 WH Bide d's ckssccapedvt seeks tdesetevesad enn cau 75 and 10 17 tO BB iis cb nced cs Vanecedvaesdsdéawnaeetiws 72% and 10 27 to BBs st daok sandeedaeed A06a900 eiaen aad abeaeeee 72% Coppered or Liquor Finished: DS aml COGRNOE 0662s hskesk bidded A caeewe i wens 75 and 10 10 00 Biv cthe'ss bod device sd Cctitade weutnehipesal 75 and 10 2) C0 SEs cerucswcvhnsitsecdevcunageuetan 70 and 10 and 5 Tinned: 6 to Miwssivsisceweneeesabiwomanenya 75 and 10 and 10 Pittsburgh ParK BuILpING, June 14, 1911.—(By Telephone.) _ Pig Iron—The local pig iron market is showing more lle, Inquiries being better and some actual sales hav- ing been made. The opinion is that prices of pig iron have about touched bottom, with possibly the exception of Bessemer, and it is believed that consumers will buy more freely in the near future than they have been doing for some time. The Standard Sanitary Mig. Company has bought 1000 tons of Northern No. 2 toundry for its Allegheny and New Brighton, Pa., works, for June and July delivery, at $13.50 at Valley 'urnace, and also bought 1000 tons of Northern forge, lor the same delivery, at $13 at Valley furnace. We uote as follows: Bessemer pig iron, $15 nominally; malleable Bessemer, $13.50; basic, $13.10; No. 2 foun- ry, $13.50 to $13.75; gray forge, $13, all at Valley fur- nace, the freight rate to the Pittsburgh district being oc. per ton, Steel—A number of independent sheet and tin plate mills will close down June 30 for inventory and re- pairs, and for this reason they are taking in as little ‘cel this month as possible, so that specifications against contracts on sheet and tin bars are showing a heavy falling off. There is practically no new in- quiry for billets or bars, the local market being very dull, but the prices of steel which went into effect June 1 are holding firm. Quotations are as follows: Bessemer and open hearth billets, 4x4 in. and up to, but not including, 10x 10 in, $21, base, and sheet and tin bars in 30-ft. lengths, $22; 1%4-in. billets, $22; forg- ing billets, $26, base, usual extras for sies and carbons —all prices being f.o.b. Pittsburgh or Youngstown districts, freight to destination added. (By Mail) As far as sentiment goes the market is better, and the feeling prevails that the worst is over and that im- provement may be looked for from this time on. The reduction of prices of steel bars and sheets has stimu- lated the demand on these two products. Ordefs for considerable tonnage have been placed with the steel bar mills, while the leading sheet interest reports that its new orders and specifications for sheets last week were the heaviest in any one week for some months. There has been some rail buying in the past week and it is understood that additional inquiries are in the market. A little more inquiry is also observed for pig iron, with some indications of buying in the near future. Several large inquiries are in the market for foundry coke for the last half of the year. No settlement of the puddling and finishing scales was reached at the wage conference at Cambridge Springs, Pa., last week, but this is not taken to indicate that there will be a strike. The West- _ ern Bar Iron Association asked for a reduction of 10 per cent. on the present scale, which the representatives of the Amalgamated Asseciation refused to accept, and another conference is to be held commencing July 6, at which a settlement is likely. Independent sheet and tin plate mills will meet the Amalgamated Association in conference on June 22 to consider the sheet and tin plate scales. These will likely be quickly arranged and on the same basis as the present scale. Ferroman anese.—Inquiry is light, most consumers being covered over remainder of this year. A sale of 50 tons for delivery outside of the Pittsburgh district is reported at a price close to $37, Baltimore. We quote 80 per cen