The Iron Age 1911-08-24: Vol 88 Iss 8

TH E IRON AGE _ _New York, 7. 24, 1911 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. less receipt is requested, none will be sent. Credit for payment will be shown by extending the date on the wrapper of your paper. W. H. Taylor, - + President and Treasurer 1A. Mekeel, - - ~ - First Vice-President Harold S. Buttenheim, - - Second Vice-President and Secretary Geo. W. Cope, A. L. Findley, W. W. Macon, M. C. Robbins, Charles S. Baur, Branch Offices Philadelphia, Real Estate Trust Building Chicago, Fisher Building Pit bu ch, Park Bulding Cleveland, American Trust Building Bustor., Compton Building Cincinnati, 807 Andrews Building CONTENTS. Output Exceeds New Orders............ Steel Any Readjustment Will Include ih Bn a Wel ds Labor... OO IPN Sia vis ee eee e se and Commodity Permanency in The Steel Corporation Helps Its Competitors.... ree ii for oe ye A The habbidiille Outlook for 1912...... Personal ‘ The Iron and Metal Markets................ ‘Ereight Rate Reductions from Buffalo The Imataca Iron Deposit in Venezuela Trade Publications Proposed Iron and Steel Tariff Changes....... Obituary Proposed Iron and Steel Tariff Changes...... A New 24-hour Record in Unloading Iron Ore... New York’s Barge Canal and Tron Ore 4reights. . The New Pittsbu rgh a, Youngstown Sheet & Tube Profit Sharing... The Cr Iron Mines Suit.......... 3 oton Magnetic Iron Ore Production. in Southern’ Iron Consolidations...............+...- British Iron and Steel Exports and Imports The Sintering of Fine Iron-Bearing Materials... Specifications for Steel Axles and Shafts......... Book of Abrasive’ Disks Charges and Profit Goulds Centrifugal Pumps Sprinklers in Knock-Down Form Minimizing Peak Electric Loads \ New Pratt & Whitney The Ga Aut matic Sample Interest New Sprinkler Efficiency The H Tools An Improved Corliss Valve Gear.... The Schulz New Th eely Boiler Tilting Vise fools and Appliances Machinery Markets VOL. 88: fen: Ste Bais 8 Output Exceeds New Orders The Structural Outlook Favorable No Pig Iron Buying for Next Year—An Early End of Ore Shipments The steel mills are scarcely holding their position, production and shipments being in excess of new or- ders. Prices show continued irregularity, with compe- tition more pronounced as the possibility of a return of free contract buying grows more remote. The Pittsburgh district is still leading in the per- centage of capacity employed, but there as elsewhere each week’s operations are determined by what the week brings forth, tion of the present high tide in specifications is of little which is doing much more at its Central Western plants than at those in the Chicago district, has 72 per cent. of its blast furnace capacity going this week and about 75 per cent. of its ingot capacity. so that prophecy as to the dura- value. The Steel Corporation, It is needless to catalogue all the forms of finished material in referring to the price situation. But steel bars are reported to be under pressure in the bars are weaker there. Plates, sheets, tin plates and wire prodticts are named in Pittsburgh reports as showing closer competition. The demand for rails is spasmodic, but the orders in hand for this year promise better rolling schedules than has been commonly known. The Ensley mill has little open space for the next four months. This week it reports a contract of 22,050 tons with the Southern Railway. The Colorado mill is booked for most of the four months. At Gary the outlook for rail tomnage is not so promising. The report of a recent rail order coming to this country from Argentina is unfounded. In the structural trade developments have been favorable. For the New York Central Terminal, New York, 5000 tons has beer? placed with the American Bridge Company, which also has the 4000 tons for the Ritz-Carlton Hotel in Philadelphia. At its Eastern plants this company is now working 95 per cent. of capacity, and work now in hand will keep all its shops busy at their present rate for nearly six months. The Thompson Starrett Company has the general contract for the Field Museum at Chicago, 8000 to 10,000 tons. Pending business includes 5000 tons of bridges for the Boston & Albany, 4000 tons for the Aeolian Building, New York, and 5000 tons for the new post office at Washington, D. C. The American Bridge Company is low bidder an 7,000 tons for the St. Louis bridge ap- proach. The. principal inquiry before the wrought pipe mills is for 63 miles of 10-inch pipe for the Medina Gas & Fuel Company’s projected line from Lima to Mansfield, Ohio. Operations of tin plate mills increased in the past more Chicago district, and iron or i fae is RED * sa ap meet 3 ee E “ Bae Fe Sa deel a sneer 400 THE IRON AGE August 2). 91; week. Reports persist of sales at $3.60 per base box, Pittsburgh. Expectations of a good fall tirade are general in the wire trade, but meantime operations are light, the job- bing trade keeping its stocks at a minimum. The pig iron market reflects plainly the prevailing uncertainty about future demand. Melters would or- dinarily be buying in considerable quantities by this time for the new year’; yet the closer working of sup- -ply and demand as merchant production has been cut down in recent weeks has caused no anxiety to cover for 1912. Some inquiry is up, but buyers are not con- vinced that the higher prices now asked for next year can be held. At Pittsburgh a sanitary supply company bought 7,000 tons for its Northern plants, mostly at $13.50 Valley furnace and $13.25 at a Pennsylvania furnace which has a higher than the Valley freight. There is nothing like a buying movement in foundry iron and Southern furnaces, while asking $10.25 and higher for this year’s shipment, are doing little business. A large amount of Southern iron was sold at the $10 level earlier in the month, one interest disposing of over 70,000 tons in one week. Some of this iron was bought on speculation by dealers and is therefore yet to come upon the market. . The expectation of a secondary buying movement in Lake Superior ores has been disappointed. Only about 150,000 tons was sold in scattering lots in the past two weeks. Preparations are now making by the leading interest for an early end of the shipping sea- son. Unless unexpected improvement comes to the pig iron trade the season’s movement of Lake ores will not exceed 30,000,000 tons. Steel and Commodity Prices For a proper appreciation of the position of the steel market general attention needs to be directed to the lowness of steel prices as compared with commodity prices in general. It is a fairly familiar fact that while the various compilations of commodity index prices show no material reduction since 1907 steel prices have suffered a large decline since that year, but the full bearing of this fact may possibly be lost if emphasis is not frequently put upon it. A fact not so generally recognized, probably, is that while since last May com- modity prices have shown an advancing tendency steel prices have shown a slight declining tendency, so that the gap is being widened at the present time. The highest prices of ste®l products in recent times were attained just at the close of the highly prosperous three-year period extending from late in 1904 to 1907. Steel prices advanced during that period, but very mod- erately indeed considering the excess of demand over capacity and the eagerness of buyers to place orders. Frequently in that period mills were from three to six months behind in delivery of standard products, and consumers sometimes suffered hardship through inabil- ity to secure deliveries as early as desired. Of course the degree of hardship was not to be measured directly by the apparent distance by which mills were behind in deliveries, for keen buyers anticipated conditions and frequently placed specifications in advance of their real necessities. Nevertheless, it will doubtless be generally admitted that the mills were extremely moder:te in their price advances during that period, and the price level reached by October, 1907, was by no means an extreme one. It was, for instance, very much lower than the hight reached in the 1899 boom, whe: soared without restraint, although production § in that year were very much lower than eight year- |ater From the price level of October, 1907, (.:\sheq steel products, exclusive of rails, have declined ‘5 the present date about $8.75 per net ton, or about per gross ton, a decline of 21 or 22 per cent. Consulting the index numbers we find that Bradstreet shows 4 decline from October, 1907, to July, 1911, from 88<; to 8.594, which is less than 3 per cent. Th: divx number of the Bureau of Labor, which has just been published, is carried only through December, 1910; put from October, 1907, to that month the change is from 131.0 to 131.6, which is an advance of about one-half of one per cent. The Bradstreet standard, it may be explained, is a purely nominal one, the index number being merely the sum of the values of a great number of commodities, expressed in their usual terms. The Bureau of Labor’s basis, on the other hand, is the average price of the commodities considered during the ten years 1890 to 1899 inclusive, that average being taken as 100. The Bradstreet number has declined only slightly from December to July, so that it may be taken roundly that commodity prices in general show no appreciable decline from the level of October, 1907, to the present, whereas prices of finished steel products outside of rails have declined more than 20 per cent., and the importance of this fact is increased by the observation already made, that while since May the Bradstreet number has slightly advanced, the prices of steel products have shown a slight declining tendency. rices Comparing present steel prices with the lowest on record, made in 1897, the advance to the present moment may be estimated at approximately 30 per cent. Taking the Bradstreet numbers for 1897 and for July, 1911, an increase of exactly 40 per cent. is shown, while the Bureau of Labor’s number shows an advance from 1897 to December, 1910, of 46 per cent. Thus, compared with these standards, prices of steel products are lower than they were in 1897, when nominally they were at the lowest. That iron and steel manufacture has carried a burden greater than most industries in the matter of advancing costs in the past dozen years is well known. In common with other industries it has had to meet higher wage rates, increased cost of various supplies and higher freight rates. Not in common with other industries, but as a special burden, it has had to bear a very consider- able decrease in the average iron content of the ores available. This is a physical change, having no con- nection with the higher standard of values everywhere present, and one which no invention or improvement can overcome and which is not subject to the possi- bility of adjustment or compensation in future by @ lower standard of wage or commodity values being restored. The richest ores are used up, and their equal is not being found. The increased content of impurity is a drag all along the line, involving the mining, transport and reduction of a larger quantity o! ore per ton of pig iron produced, while in addition ore must be sought farther underground. Unquestionably the iron industry has found some compensations, In various ways it has improved its practice, or already an unbearable condition would have been reached. If the citation of the fact that present steel prices relative to commodity prices ™ general are lower, both by comparison with 1907 and by comparison with 1897, merely serves to show that Aucust 24, III idustry has instituted economies and improve- _ the showing is an important one in these days discriminate criticism of iron and steel manufac- s for having indulged in excesses of various —_~9-9—__—_ Any Readjustment Will Include Labor he avowed object of many of the legislative pro- ils that have been brought forward at Washington ) reduce prices of commodities and, presumably, to t the long-standing complaints of the high cost of ng. Anti-trust proceedings and investigations are vun in large part with the purpose of reducing the es of so-called trust products. Bills for tariff re- ision are introduced apparently in the expectation that th lower duties will come lower prices in the home In all this not the slightest indication is given the sponsors of these measures that along with the veneral scaling down of commodities which they seek re will come any reduction in the price of labor. | rket, Now and then the view is expressed by careful ob- rvers of present tendencies that if any serious dis- turbance of prices of manufactured products comes ut of the present agitation, an accompanying liquida- In the iron trade, in which there has been an important reduction in prices, practically no change has been made in wages, and manufacturers generally have been averse to wage So far as the iron and metal-working trades are concerned there is no indication today that manufacturers will take any initiative in this direction. Should any such step become necessary it would no doubt be promptly challenged with the familiar charge that it was in “retaliation” for recent legislative attacks ion in labor cannot be avoided. reductions. ipon business. it needs to be remembered, in the midst of all these torts for a downward revision of values, that the id-time economic laws have not been abolished. If ties are reduced sufficiently to lower prices of any lomestic product there will be just one choice for \merican labor engaged in the manufacture of that roduct—either to bear a reduction in wages while nlaking the same output as before or to increase output. lie profits of manufacturing operations have been by ineans adequate in recent years. If one basic in- lustry be taken as an example—that represented by the last furnaces of the country which make pig iron for in the open market—there have been nearly four rs of unsatisfactory prices and diminishing profits. > safe to say that in many cases there has been a n pig iron sold in the past six months. There are cerns in the metal trades—foundries and machine whose profits in the same period have been The returns from manufacturing oper- in practically all lines have undergone very is readjustment in recent years, while wages have cither maintained, or, as in the case of the rail- ver indeed. ‘, materially advanced. he plain intent of the notification concerning rail- wages given by the last administration at Wash- i, in the depression following the panic of 1907, that any readjustments of values must be borne ely by capital. So now it is evidently the idea of who are aiming to reduce the American standard lues, that while the returns on investments may be ed, the wage earner, with undiminished pay, will le to buy more cheaply than before. The public THE IRON AGE 401 mind, in holding before it the profits of the great pro- motions of ten to fifteen years ago and the fortunes made by the few who sold out their business at extrava- gant prices, forgets that the 6 and 7 per cent. dividends which the owners of these selfsame industries are get- ting today are exceedingly modest returns on a manu- facturing investment. The tens of thousands of stock- holders in the great industrial companies of today con- stitute a very important percentage of the community of “manufacturers” who pfesumably are to bear the brunt of the revisions in values now aimed at through legislation. The belief that labor will benefit by the shaking down of prices, or at least will escape unhurt while the returns to capital are further curtailed appears to be entertained by some who should know better. For them and any who are deluded into following their lead there is the certain prospect of a rude awakening. Permanency in Shop Buildings Shacks for shop buildings were vehemently urged a few years ago. It was argued that permanent struc- tures for housing the machinery of the works were Equipment and methods were likely to get antiquated and a change to take advantage of devel- unwise. opments in apparatus or to provide for expansion was sure to require costly alterations to buildings. The injunction was only here and there taken very seri- New plants were constantly erected of a degree of permanency calculated to inspire confidence in the stability of the enterprise and in many cases actually to beautify the surroundings. Such works, however, were not built as new ventures in new fields, but as en- largements of existing establishments. To the require- ments was given careful study of the possibilities of the future. The young industry usually starts in a modest way in structures formerly occupied by institutions which have prospered, and in the event of successful growth it is in a position to select for its needs. It is recognized that old established going works are often found in buildings illy adapted to their needs, but these were launched before plant operation was given the The permanent or substantial buildings, involving a considerable money outlay and early exhibiting their shortcomings, were in fact the text on which the germon of mere shelters for men and mathinery was preached. The present tendency toward high-class inclosures as well as contents for factories spells the transition which is taking place in the industrial world in this country. Speed in achieving results was formerly the watch- word. The population was stretching itself as quickly as possible over large areas. Months of deliberation over the inauguration of some project could not be afforded. Now territories to be supplied are more re- stricted or more definite. A better index to probable demand is-at hand. The question is not the immediate, but the more distant future, and we are to see an in- creasing amount of care in reaching decisions. Europe has long stood for an absolutely, sure policy and the character of buildings and railroads attest it. Its de- ously. scientific attention it now receives. velopment has been altogether different from that which has brought the spotlight to these shores, Guesses re- garding successes of ventures are not now so often made and the better opportunity to gauge the future appears to justify what may be termed permanency of construction. 402 The Steel Corporation, Helps Its Competitors The Stanley Committee, in probing the affairs of the United States Steel Corporation, failed to bring out some of the good deeds of that great institution. The American consumers of pig tin, on more than one oc- casion, have had reason to be thankful for the existence of this huge commercial organization. Through the tin plate mills of its subsidiary, the American Sheet & Tin Plate Company, it is by far the largest consumer of tin not only in the United States but in the world, and its purchases of this important commodity are therefore on a correspondingly large scale. Producing no tin in this country, we are dependent on outside sources for our supply. , The tin market is frequently subjected to speculative influences, centered largely in London, where advantage is taken of every contingency to compel American consumers to pay high prices. Within the past few months the price of tin has been forced to an extravagant hight, and American consumers have been considerably. distressed on this account.’ The recent strike of workmen in London has further greatly interfered: with the movement of tin through the warehouses of’ that city, that being the transshipping point for vessels arriving from the East Indies. On this subject the following excerpt is made from the market report of C. S. Trench & Co., New York,, dated August 17: With us the feature has been the inability to get usual supplies on account of the London strike, On an average 2500 tons. per month should reach us from London. Not a ton has been shipped from London in two weeks, and no likelihood of any for another week; in fact, we hear September 3,given as the first date of a London steamer to bring tin. This has reduced the stock of Straits tin here to virtually nothing other than the stocks being carried by the United States Steel Corporation. Whether from astute judg- ment and foresight, or from luck (we favor the former view) this large consumer has, during the late corner in London and_ the squeeze here, been in a most comfortable position, and has been generous ‘in helping out its fellow consumers during these periods. The facet’ that it has been able to replace for future delivery at lower prices than it has sold its spot surplus to needful consumers is only an incident, and does not ‘depreciate its service to the market. If the United States Steel Corporation had chosen to use all its advantages for its own purposes and to ignore its competitors the opportunity here existed for reaping important benefits. This would have been ordi- nary commercial selfishness, and would by no means have been illegal restraint of trade. The Steel Cor- poration chose to do otherwise, howeyer, and thus signally manifested its liberality and magnanimity. Will practices of this kind find a place in the report of the Stanley Committee? — Om Increasing Liability for Fatal Accidents The Connecticut Legislature is proceeding favor- ably with a bill which would increase the amount of liability for accident from $5,000 to $10,000, with a minimum of $1,000. The $5,000 figure is the usual one when death; comes quickly to the victim, has decreed this to be a fair limit. radical step. The new limit applies, presumably, in accidents to employees as well as in cases where a public service corporation is the ‘responsible party. Thus it_is another reason why a workmen’s compensa- tion law, may prove to be less of a burden than the existing employer’s liability ‘acts. change is to be doubted, however. If the limit is now too iow the increase should be a_more gradual one. It may be argued that the statute does not compel the payment of $10,000 ,for each death, but merely increases the maximum liability. Nevertheless the death due to without “conscious, suffering.” Custom To double it is a very The wisdom of the THE IRON AGE August 24 ordinary jury nowadays does not hesitate to the maximum award for the loss of a life, espe. against corporations, even though from an eco: as against a sentimental standpoint the award }. great. —_—_2--o—————_— Railroad Equipment Orders.—Some large orders {o; railroad equipment were placed during the week, [oco- motive buying is on the increase. Among the orders placed were the following: The Missouri Pacifie/'1§ Pacific typ: locomotives from the American Locomotive Company : th, Erie, 40 Mikado locomotives, divided between the American Locomotive Company and the Baldwin Locomotive Works. and 20 to be built in its own shops; the Government Rail- ways of Japan, 12 Pacific type locomotives from the Amer- ican Locomotive Company; Pennsylvania Railroad, 15 pas- senger locomotives, 10 freight locomotives and 10 switch- ing locomotives to be built at its Altoona shops; St. Louis & San Francisco, 12 switching engines from the Baldwin Locomotive Works; Eastern Illinois, 8 engines of Pacific type from the Baldwin Locomotive Works. Car orders have been placed as follows: St. Louis & San Francisco, 250 flat cars: Chicago & Gulf, 50 flat cars and 50 box cars from the Central Locomotive Works; Swift & Co., 50 tank cars from the Pressed Steel Car Company. The St Louis & San Francisco is inquiring for 250 flat cars and the Pennsylvania Lines West is asking bids on 700 assorted freight cars. a The John W. Danforth Company, Buffalo, N. Y., has just received formal notification from the Secretary of the Navy of the acceptance of a recent proposal tendered at Washington for the complete mechanical equipment at the Mare Island Navy Yard, San Francisco, Cal. This is one of the most important navy yards on the Pacific coast, and the contract includes the equipment for one of the largest power houses in the Navy Department. The work includes condensers and pumps for large electrical generating units, driven by steam turbines, switchboard and electrical connections, boiler feed pumps, motor-driven cen- trifugal water supply pumps, feed water heaters and all of the power plant piping connecting the boilers and the \arious power plant apparatus. The Danforth Compan) secured the contract in competition with New York, Phila- delphia and San Francisco bidders. The work is to be completed in nine months’ time. Reports from Washing- ton state that the contract price is approximately $105,000. The Society of Automobile Engineers is now issuing leaflets showing the mechanical standards recommended by its professional committees and accepted by the society. The society is the custodian of the standards formerly established by the Association of Licensed Automobile Manufacturers known as A. L. A. M. standards. Of these one of the less successful was the yoke and eye rod end standard. To supersede this standard, the society has now announced the S. A. E. standard for drop-forged yoke and eye rod ends. A two-cycle single-cylinder oil engine ef 65-hp. capac- ity is shortly to be brought out by the Remington Oil En- gine Company, Stamford, Conn. It is to follow the design of other Remington oil engines, and is intended for electric lighting units, having close speed regulation. Its normal speed is 225 r.p.m. Two dryers were recently shipped to. Varanger Fjord, Norway, 400 miles inside of the Arctic Circle, by the Rug- gles-Coles Engineering Company, New York. Each ma- chine is rated to dry 55,000 lb. of iron ore concentrates per hour. It is stated that the Blandon Rolling Mills, near Read ing, Pa., has, started its 8- and 11-in. mills, which will be operated on full time. For the past year this department has been running very irregularly. The ‘Princess Furnace Company, Glen Wilton, Va, will blow out its furnace this week. Furnace No. 3 of the Woodward Iron Company, Wood- ward, Ala.,jhas blown out. \ugust 24, IOI (he Automobile Outlook for 1912 growth of automobile manufacturing in this coun- ce 1907 has been so great that automobile makers srobably become, next to the railroad interests, the important class of purchasers of metal working nery and especially of machine tools. The recession automobile business in the early part of this year eenly felt by the machinery trade, although it lasted short time, and its recovery was marked by renewed nery buying. A canvass of some 30 representative obile manufacturers made by The Iron Age, with a to ascertaining the outlook for their industry for brings out the fact that while perhaps 20 per cent. of ¢ written to will not produce as many cars in I9II as io, all of them expect at least to equal their 1910 pro- ion next year. In some cases the manufacturers report t in their experience the schedule of production for this resulted in a surplus of cars. The other replies indi- or next year an increase over the 1911 production, ng all the way from 30 to 75 per cent. Some manu- turers are unwilling to state for publication what their duction was in the last two years and how 1912 will with I91t and 1910. Others are willing to make their expectations, and their replies indicate that ley are looking forward to a year of large business. lhe Thomas B. Jeffery Company, Kenosha, Wis., which kes the Rambler cars, is figuring on a minimum produc- n of 3,500 cars for 1912 as against 2,500 made in 1910 nd 2,000 in 1911. This company is now enlarging its plant provide additional manufacturing space, approximating mpare ‘5,000 sq. ft. It is also planning the erection of service uildings in Boston, New York, Chicago and San Fran- isco and will need additional machinery for both the factory and service buildings. The Lozier Motor Company, Detroit, states that the increase in its manufacture for the year 1912 will be fully 75 per cent. and that it is planning for extensive additions be made within the next six months. The Ford Motor Company, Detroit, produced 20,000 cars in 1910, Its I911 production will amount to 40,000 ars, and it anticipates a production of 75,000 cars in 1912. The Willys-Overland Company, Toledo, Ohio, is now ulding a four-story body manufacturing plant, 250 x 400 and a large die shop to increase its output to 20,000 rs as against 17,000 to be produced this year. This com pany has also just completed a large engineering building nd has added to its power plant. The Mack Brothers Motor Car Company, Allentown, expects to increase its productive facilities 50 per ent. over those of 1910 and consequently will enlarge its nt about one-third so as to be able to produce between 600 and 1,700 trucks. Much of the added business that iutomobile makers in this country is placed abroad. The alue of exports of automobiles and parts in the fiscal ear ending June 30, 1911, was $15,509,000, against $71,190,- 00 In 1910 and $5,992,000 in 1909. The import trade in motor cars is steadily decreasing. In the 12 months end- ing June 30, 1911, the imports consisted of 888 machines alued at $1,898,000, against 1,473 valued at $2,851,000 in 910 and 1,624 valued at $2,905,000 in 1909. The values of mported parts in the three years were $352,000, $985,000 and $773,000 respectively. enjamin Briscoe, president of the United States Motor ipany, in an interview published last week makes the tement that the automobile output of the country in 2 will be 210,000 machines, not including motor trucks, gainst 140,000 machines scheduled for production in The greatest year of the industry, Mr. Briscoe tes, Was 1910, when 186,000 automobiles were made. is coming to the ——_4--o————— lhe National Machine Tool Builders’ Association will ll its annual convention at the Hotel Astor, New York ‘\y, October 10, rr and 12. ‘The National Supply & Ma- ery Dealers’ Association will hold itsiconvention at the e hotel October 10 and 11. The two bodies will hold © joint session for the purpose of bringing them in closer h and for the discussion of matters of mutual in- t, such as a uniform contract arrangement with a non- ellation clause. Secretary Fernley, of the National Supply Association, willsextend an inyitation to all ceitimate dealers now unaffiliated to attend the conven- THE IRON AGE Personal W. E. Corey réturned to New York last week after a six months’ absence in Europe. His offices are at 11! Broadway. F. S. Witherbee, of-Witherbee, Sherman & Co., York, sailed for Europe last week, New George Bartol, general manager of the Otis Steel Com- pany, Ltd., Cleveland, Ohio, has-returned from a European trip. J. Henry Teschmacher, Jr., has established himself at 347 Bay Ridge avenue, Brooklyn, N. Y., as consulting sheet metal worker, to advise with-regard to methods of design- ing and erecting sheet metal construction. A. H. Teuchter, president of the Cincinnati Bickford Tool Company, Oakley-Cincinnati, Ohio, sailed from Bremen August 22-0n the Kaiser Wilhelm II, and will ar- rive in New York August 29. T. G. Meachem and T. W. Meachem, of the New Proc- ess Rawhide Company, Syracuse, N. Y., have been elected president and vice-president respectively of the Palmer- Moore Company, of the same city, in which they have pur- chased a controlling interest. The latter company has re- cently increased its capital stock from $25,000 to $100,000 and will install new machjnery and expend its business. It has been perfecting a two-cycle engine for automobiles. Gano Dunn, who for some years has been first vice- president, chief engineer and .a director of the Crocker- Wheeler Company, has resigned from that company in order to accept an important engineering and exécutive position. He will sail shortly. for Europe to attend, as president of the American Institute of Electrical "Engineers, the meeting during the Turin Exposition of the Interna- tional Electrochemical Commission, to be held on Septem- ber 7, 8 and, and also the following meeting of the International Electrical Congress. A. W. Wheatley has resigned as manager of thé’ Brooks Works of the American Locomotive Company at Dunkirk, N. Y., and will assume the management of the Canadian Locomotive Company’s plant at Kingston, Ontario. He will be succeeded at Dunkirk by H. Swoyer, formerly manager of the American Locomotive, Company's plant at, Rich- mond, Va, J. Weillberger, representing the Government of Nicar- agua, has been in California investigating the use of oil- burning appliances. Ferdinand Thun, president of the Textile Machinery Company, Wyomissing, Pa. recently returned from a trip to the Continent. Mr, Thun has crossed the Atlantic 21 times. F. B. Keiser’ resigned as vice-president and general manager of the Southern Iron & Steel Company on August 1. -A successor has not yet been appointed. E. T. Conners has beén placed in charge of the recently opened Chicago office of the American Rolling Mill Com- pany, at 313 People’s Gas:Building. tf James A. Green, senior,,partner of Mathew Addy & Co., Cincinnati, Ohio, pig iron merchants, has returned from an extended vacation spent in Canada. W. W. Hull will continye in charge of the local dis- trict of the Republic Iron & Steel Company at Pittsburgh, as manager of sales; while G. L. Claypool will be in charge of the general» business of the company in the Pittsburgh district, with the,, title of assistant general manager of sales. Both will have offices in the Oliver Building. Robert Garland, oesiitdiaas of the Garland Nut & Rivet Company, Pittsburgh, and also actively identified with many other large interests in that city, has been named as one of the nine councilmen in Pittsburgh, and has aécepted. P. J. McArdle, president»of. the Amalgamated Associa- tion, has also been named, gs a councilman and hag, ac- cepted. oe was A patent on a machine for seaming can tops granted August 8 to Joseph Maline, of St. Owen, Seine, France, and assigtied to the’ H. W. Bliss Company, ‘Brook- lyn, N. Y. THE IRON AGE August 24, igi 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. Aug. 23, Aug. 16, July 26, Aug. 24, PIG TRON, Per Gross Ton: 1911. 1911. 1911. 1910. Foundry No. 2 standard, Phila- delphia Foundry No. 2, Valley furnace Foundry No. 2 Southern, Cin- cinnati Foundry No, 2, Birmingham, Ala. Foundry No. 2, at furtiace, Chicago* Basic, delivered, eastern Pa.... Basic, Valley furnace Bessemer, Pittsburgh Gray forge, Pittsburgh Lake Superior charcoal, Chicago. COKE, CONNELLSVILLE, Per Net Ton, at Oven: Furnace coke, prompt shipment. 1.50 Furnace coke, future delivery. . 1.60 Foundry coke, prompt shipment. 1.85 Foundry coke, future delivery... 2.10 BILLETS, &c., Per Gross Ton: Bessemer billets, Pittsburgh... . Forging billets, Pittsburgh Open hearth billets, Philadelphia Wire rods, Pittsburgh $15.00 13.50 $15.00 13.50 $16.00 13.50 14.00 14.25 13.50 -50 13.25 5 10.00 1 10.25 10.2 10.00 14.50 14.75 13.00 15.90 13.90 16.50 14.50 14.50 13.00 15.90 13.90 16.50 16.50 15.00 14.00 15.90 14.15 18.50 21.00 26.00 23.40 27.00 OLD MATERIALS, Per Gross Ton: Iron rails, Chicago 14.00 Iron rails, Philadelphia 17.50 Car wheels, Chicago 13.00 Car wheels, Philadelphia 13.00 Heavy steel scrap, Pittsburgh... 13.25 Heavy steel scrap, Chicago.... 11.00 Heavy steel scrap, Philadelphia. 13.50 FINISHED IRON AND STEEL, Per Pound: Bessemer rails, heavy, at mill.. 1. Refined iron bars, Philadelphia 1. Gommon iron bars, Pittsburgh. . 1. Common iron bars, Chicago.... 1. Steel bars, Pittsburgh 1. Steel bars, tidewater, New York. aoa Tank plates, Pittsburgh i 1, 1. a 1. ,. 1. i. 21.00 26.00 23.40 27.00 21.00 26.00 23.40 27.00 > wwhron pz SCuUMmounses a w UNINONwN “IDO bo Sa ¢ mmnun Cents. bo t& yu Tank plates, tidewater, New York Beams, Pittsburgh Beams, tidewater, New York... Angles, Pittsburgh Angles, tidewater, New York... Skelp, grooved steel, Pittsburgh Skelp, sheared steel, Pittsburgh. . nee AAO OuUNN poh a foe amid fel fa fh fe fe i Pet WNW Uw Uw WS DD Po bol SHEETS, NAILS AND WIRE, Per Pound: Sheets, blacx, No. 28, Pittsburgh Wire nails, Pittsburgh? Cut nails, Pittsburgh? Barb wire, galv., Pittsburgh?... METALS, Per Pound: Lake copper, New York Electroiytic copper, New York.. Spelter, St. Louis Spelter, New York Lead, St. Louis Lead, New Tin, New 45.00 Antimony, Hallett, New 7.75 Tin plate, 100-lb. box, New York: $3.94 * The average switching charge for delivery to foundries in the Chicago district is 50c. per ton. + These prices are for largest lots. to jobbers. oe nb Ons: 3 oouvmum«biwn ~ Dn aN os QO e rs WIR AWND & lots Nt ied > nts BUNUN wn 00 e w 1 -2UO © “A ‘fp Prices of Finished ten and Steel f.o.b. Pittsburgh Freight rates from Pittsburgh in carloads, per 100 lb.;) New York, 16c.; Philadelphia, 15c.; Boston, 18c.; Buffalo, 1re.; Cleveland, 16¢:; Cincinnati, 15c.; Indian- apolis, 17c.; Chicago, 18c./vSt: Paul, 32c.; St. Louis, 22¥c.; New Orléans, 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;.9§c. on sheets, No. 16 and lighter; 65c. on wrought boiler tubes. Structural Material.—I-beatiis and channels, 3 to 15 in., nclusive, 1.35c. to 1.40c,, het; I-beams over 15 in., 1.45¢c. to 1.50¢., net; H-beams over)18 in., I.50c. to 1.55c.; angles, 3 to 6 in., inclusive, %4 in. and up, 1.35c. to 1.40c., net; angles over 6 in., I.45c. to I.50c., net; angles, 3 in. on onesér both legs, less than % in. thick, 1.40c., plus iull extras as per steel baf°tard effective September 1, 1909; tees, 3 in. and up, I.40c., net; zees, 3 in. and up, 1.35. to I.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, | 6c. to 1.70c., net; hand rail tees, 2.45c.; checkered and corry- gated plates, 2.45c., net. Plates.—Tank plates, 4% in. thick, 6% in. up to too 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 conforming to manufacturers’ standard specifications for structural steel dated February 6, 1903, 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 Ib. per square foot, are considered %-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 than 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 Associa- tion of American Steel Manufacturers. . 5 ents per |b Gauges under % in. to and including 3-16 in. on thin nest edge, extra Gauges under 3-16 in. to and including No. 8......... A Gauges under No. 8 to and including No. 9 Gauzes under No. 9 to and including No. 10 0 Gauges under No. 10 to and including No. 12.......... .40 Sketches (including all straight taper plates) 3 ft. and Cvet i TOM s 5c. 055s caaben ses 0 sthorenee tet beraes ; Complete circles, 3 ft. in diameter and over Boiler and flange steel ooo is0cik sade cbide SiGe a wsaves .10 “A. B. M. A.” and ordinary firebox steel Still bottom steel Marine steel. Locomotive firebox ateel...cidaci ds codb vende tenewaees® d Widths over 100 in. up to 110 in., inclusive............ . 05 Widths over 100 in. up to J15 in., inclusive.......... .10 Widths over 115 in. up to 120 in, inclusive.......... . 5 Widths over 120 in. up to 125 in., inclusive 5 Widths over 125 in. INCIUBIVE. ca cccesce s 5 Widths over 130 i Cutting to lengths or diameters clusive Cutting to lengths or diameters under 2 ft. to 1 ft., in- clusive Cuttings 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, 1.55c.; Nos. 13.and 14, 1.60c.; Nos. 15 and 16, 1.70c. One pass, cold rolled, box annealed sheets, Nos. 10 to 12, 1.65c.; Nos. 13 and 14, 1.70c.; Nos. 15 and 16, 1.75c.; Nos. 17 to 21, 1.80c.; Nos. 22, 23 and 24, 1.85¢.; Nos. 25 and 26, 1.90c.; No. 27, 1.95¢.; No. 28, 2c.; No. 20, 2.05c.; No. 30, 2.15c. Three pass, cold rolled sheets, box annealed, are as follows: Nos. 15 and 16, 1.85c.; Nos. 17 to 21, 1.90c.; Nos. 22 to 24, 1.95¢.; Nos. 25 and 26, 2c.; Nos. 27, 2.05c.; No. 28, 2.10c.; No. 29, 2.15¢.; No. 30, 2.25¢. Gal- vanized 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 discount 10 days trom date of invoice, as also are the following base prices pet square for painted and galvanized roofing sheets, with 21%4-in. corrugations: Galvanized. Gauge. Painted. Galvanized. $2.40 23 . $3.50 2.55 2 yee 3.70 2.60 | y 4.05 2.65 : 4.35 3.05. | ; 05 5.70 6.50 Gauge. Painted. 29.. pipe, in effeet from October I, T9I0: Butt Weld. aimpand FON ~ —-Steel——7 . - Black. Galv. Black. Galv. a 49 4S 63 71 59 69 75 6 70 76 66 2 in 6 66 72 62 2% to 4 in : 67 7 64 4% to 6 in 67 63 59 55 13 to 15 in, — “ Butt Weld, extra strong, plain ends, card %, %, % 1 69 59 Y i 68 % to 1% ins....ie. 72 2 to 3 ‘In 73 t 24, 1911 Aug THE FRON AGE THE IRON AND METAL MARKETS Lap Weld, extra strong, plain ends, card weight. 75 69 71 to 4 itk.acectienédeeeenn 77 71 73 67 » 6 TBE i ce tdsievervcete 76 70 72 66 SQ im. seid sbseee cbataes 69 59 65 55 12 ith,» +o phaanatenienl 64 54 ome Weld, double extra strong, plain ends, card weight ihe ceccuseeebeseeeerenen 64 58 60 54 1% Moses caviness eters 67 61 63 57 3 idves chkiekensnelane 69 63 ao Weld, double extra strong, plain ends, card weight Nh... 20s sabeue teu SReanEee 65 er 55 to 4 ifr evcncvinopyes Bees 67 61 63 57 o 6 Mens oe sudoansenens 66 60 62 56 8 in..ovdedb ices saaveus 59 49 62 56 Plugged and Reamed. will - a at at (2) ; : oints lower basin igher > 1%, 2 to 3 oe werd Sheed than oaenae or Ye to 4 IMs esees ap Weld | card weight pipe. Butt or lap weld, as specified. above discounts are for “card weight,’’ subject to the usual of 5 per cent. Prices for less than carloads are three (3) lower basing (higher price) than the above discounts. Boiler Tubes.—Discounts on lap welded steel boiler ; to jobbers in carloads are as follows: to 23 iM... cbacecavee nba eg sabwensetns* orks 65 6 to 386 tm. rc cccccmesvepmbétavnes bncedaceawen ee 70 Ly tO 4IQ IM. ccccvccccovescveesetccepesceseseres 6 Ie sve wscdkvgess hiwectas ¢Rheek bo aeees cs ee 65 7 to 13 ities cnundddcbabn uetecans abuts’ eeecanents 62% ess than carloads to destination east of the Mississippi River e soid at delivered discounts for carload lowered by two points gths 22 ft. and under; longer lengths f.o.b. Pittsburgh. sual to jobbers and boiler manufacturers. Wire Rods and Wire—Bessemer, open hearth and hain rods, $27. Fence wire, Nos. 0 to 9 per roo Ib., terms 60 days, or 2 per cent. discount in 10 days, carload ts, to jobbers, annealed, $1.50; galvanized, $1.80. Car- id lots, to retailers, annealed, $1.55; galvanized, $1.85. Galvanized bar wire, to jobbers, $2; painted, $1.70. Wire nails, to jobbers, $1.70. The tollowing- table gives the price 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 Ib, f No 0to9 10 11 12&12% 13 14 15 16 Annealed ...$1.65 $1.70 $1.75 $1.80 $1.90 $2.00 $2.10 $2.20 Galvanized .. 1.95 2.00 2.05 2.10 220 2.30 2.70 2.860 het and Stone Wire in Bundles, Discount from Standing List. Bright and Annealed: ) and CORTHOR < cccccceuns chahusnn nee hcueealen saeeeeeee 80 0 to 16.552 cctcdes ben etwe kes ds tn Seen ewaeCa 80 and 10 ) to 26.5404: s Sc ctaweeeees ow hes cee 80 and 10 and 2% 7 (0 36... cevavaes Obes ch Ree bR ES 6 LU heed eee 80 and 5 vanized: } and COGFOCE’s os. 0cibicdanGack we budust pee Eee 75 and 10 0 to 16... c0cveKdide kee wawva >) cemese eens 75 and 10 7 tO 26. ..086s evoked whee ps eo tnd ee wees nee 72% and 10 7 (0 36. csnvecdidvacih bed ck eubae eb nee eteteee ee 72% ppered or Liquor Finished: 9 and Coareel sd sic cdbivnd's ced¥ieetcoukadegeenene 75 and 10 10 to 26. ...ccecoveschsheubaben «hueu shan anee 75 and 10 27 to 36. ..cccsnnntune eee ¥en eee ben ee ae 70 and 10 and 5 Ceccete diet Sat ew seas 75 and 10 and 10 Chicago Curicaco, ILtu., August 22, 1911. xcept for the weaknesses that have developed in steel bar and sheet prices and the lack of momentum in the pig iron situation the strength of the market gen- rally is well sustained. The growth and the broaden- ing of business are beginning to make themselves felt through the less prominent channels of business, and omplaints because of the times are less frequent. Rail irders during the week past were light, but encourage- ment may be had from the placing or orders by the rie Railroad for about 4000 cars and by the Frisco system for 1200. Manufacturers of railroad supplies re- port that prospective work for which estimates have been submitted in the past fortnight is exceedingly ex- tensive. Including the steel work for a bridge at St. is, Western transactions involving about 10,000 tons | tabricated steel are to be noted for the week. The ps of fabricators are engaged with larger tonnages | some improvement in prices is reported. The ton- of current business in sheets and bars still seems e insufficient to go round, and concessions of $1 a are freely made. Melters of scrap iron in this im- iate territory are not taking such material in with ‘ny noticeably increasing freedom, but in the prelimi- nary handling decidedly firmer tendencies are manifest. Pig Iron— Very little iron was purchased during the week. The sales reported comprised several lots ‘ew hundred tons each for shipment during the re- mainder of the year, but melters generally are not in- ‘er’-ted in Southern iron at $10.50, Birmingham, for past anything but first-quarter and first half delivery. It is generally conceded that the demand for last half iron was well filled with,iron bought on the basis of $10 and that as long as tlie!situation remains as it is with local irons Southern furnaces-can scarcely hope for much business at the advanced price. Some Southern fur- naces not in the Birmingham district will sell at $10.25 and the statement has been made that $10 was done by such a furnace in the past week. Local makers con- tinue to take business at $14.50 at furnace. Inquiry for malleable, though still active, is but poorly supported by actual purchases, and one large inquiry has been withdrawn. Deliveries of iron on recently placed or- ders are being accepted on schedule apparently, but 2 very large tonnage is held..up in this district on old contracts, particularly for malleable. A new freight rate is now in effect on Lake Superior charcoal at an advance of 25c. a ton, making the tariff $1.75 into Chi- cago. We quote for Chicago delivery, except for local irons, which are f.o.b. furnace, the following prices: Lake Superior charcoal.........0......05. $16.50 to $17.00 Northern coke foundry, No. 1............ 15.00 to 1550 Northern coke foundry, No. 2..0......... 14.50 to 15.00 Northern coke foundry, No. 3............ 14.25 to 14.50 Mewiebrsl Beets: Tei tak se 5x5 6 1adid does ceiver ecicetes 16.00 Southern coke, No. 1 foundry and No. 1 soft...... 15.10 Southern coke, No. 2 foundry and No. 2 soft...... 14.60 IU A a ose rane bebe vecepeeh stake 14.35 ORR GRE SU Mas cn ceiuncon mide cm bea wh0 68 Ga 14.10 ST GUO NG. a sk nck cca cid dneadnbaies 13,85 OUND Cb ono GOn sce enechh cst aeensswauwen 13.85 Re OIE oo ok Sh wins ona cca b'es ces 14.50to 15,00 SS SUP Gh s tis 6 Kk NRA, chs seein dcrasieswee 17.40 OE. dbx knack eisare ea steninl’ de 84 vec tarkeae hes, 15.50 Jackson Co. and Kentucky Silvery, 6 per cent...... 17.90 ackson Co, and Kentucky Silvery, 8 per cent...... 18.90 ackson Co. and Kentucky Silvery, 10 per cent...... 19.90 Rails and Track Supplies.—The rail business of the past week as reported by the leading interest was confined to small lots which. did not exeeed in the aggregate 10,000 tons. uite a nuniber of similar orders are in prospect, he major portion of the rails ordered are Bessemer and the South Chicago mill is comfortably provided for, but an increase in the open-hearth rail tonnage on the books would not be unwelcome. We quote standard railroad spikes at 1.65c. to 1.75¢., base; track bolts with square nuts, 2.10c. to 2.20c., base, all in carload lots, Chicago; stand- ard section Bessemer rails, 1.28c.; open hearth, 1/34¢c.; light rails, 40 to 45 lb., 1.16c. to 1.20%c.; 30 to 35. Ib., 1.19%c. to 1.24¢.; 16, 20 and 25 Ib., 1.20%c. to 1.25¢.; 12 lb., 1.25c. to 1.30%c.; angle bars, 1.50c. to 1.60c., Chicago. Structural Material.—With the taking of a number of small orders for fabricatéd steel, the status of local structural shops with reference to the volume of profit- able business on the books has improved. For this class of work and for most of the bridge work better prices are being obtained. It is understood that the plants of the larger interests are now handling more wor