The Iron Age 1922-12-21: Vol 110 Iss 25

; Fi Pitas a | & F P% re " 3 7 J a, e ; New York, December 21, 1922 ° STABLISHED 1855 VOL. 110, No. 25 ' : a PRR Poa % . * TT a T ' ° ; ‘ant a. ermanys Great Locomotive Works + : The Borsig Organization and Methods Were Once in a Class by . Themselves, but Now Operations Are Full of Difficulty German Competition Not to Be Feared BY CAPT. GODFREY I CARDEN L Tegel on the out- (C‘apta Carde er ‘ ‘ nignt He hangs back skirts of Berlin is cently after an extends ' R +» On th ”" very often in his day a located the Borsig home he ypped of Poland | Germany to work to save his strength omotive Works. I quire conditions he me g duatrik for the work at night ted this plant a few His f P d o} er THE IRON AGE Che latter pays better. eks ago both to see Dec 7 ] ese ( ( f alt f ¢ t : ; weve). Diienstae Mee i i AN all Ba ia ben} British and Belgian Com 4 is and to ascertall Capta (‘arden de ribe 7 j erclal é petition : signifi ant develop yort he made t the Dene nent jf Comme e on the So far as orders go, > ; nts, if any, there had machine tool dustry in Eurone , a fe the situation at Borsig’ n since the war. years before the war. A third article dec artic early in October was a b [ had not seen the larly with conditions in machine int G any satisfactory one. This : sig works since pre- cul appea 0 | Revie \ be) i Ji i plant, in common with days, when I re 1923 ther German locomo ted on these shops for tive works, is booked * Department of Com with orders for several , At that time I months ahead. The for ted that the Borsig organization stood in the eligi Borsig have come in “from the Balkan n Germany in point of shop efficiency. In n tate d from the Soviet republic of Russia. In add er German plant had I seen, in certain instances, mm tl ‘eceived their share of the German rail advanced forms of shop method as were apparent id \part from the foreign territory met and I advised that the American who wished oned, Borsig finds that all British and Belgian loco me early acquainted with German progress cou tive S ar ioting more advantageously abroad, othing finer in this line than is offered at the Bo ind mndit ittributed largely to the inability shops. I also noted the fact that the present Ge » qu d price The falling mark is blamed fo Director Neuhaus, who was then the shop direct this spent three years at the Allis-Chalmers work Borsig in common with Swedish locomotive shop ilwaukee. las m ed do business with Soviet Russia. ; me ind I saw during the past summer really excellent pas | Once a Large User of American Machine Tools ves a ae ae | senger tral in Russia with German locomotives in | Borsig’s, because of its high efficiency, has stood in service [ refer especially to the trains now running | ass by itself. The shops have been large users of vetween Moscow and Minsk and between Moscow and highest grades of American machine tools, and Petrograd These trains reflect the improvement in ‘i ; ‘ war days the workmen were stimulated by hig economic conditions in Russia which have taken pla ; es for additional work. About 5500 men was th gradually and steadily in the past six months. sorsig { number at Bors‘g’s just before the war. by the confidence exhibited unquestionably stands in Today the Borsig plant is working intensively, but preferred position today to take advantage of the rap a different works from that of pre-war times, and idly approaching reconstruction period in Russia. is true of Borsig’s also applies, I was told, to Pb German industries as a whole. The old-time German German Railroads Stripped ipline is gone, the snappy shop gait has disap The loss of 5000 locomotives and 150,000 trucks by red. Men work now on an eight-hour basis. They Germany under the surrender terms hit her railroads undernourished and ill-fed. The unions are ada hard. Naturally, the victors took only sound equip against a prolongation of the eight-hour period, ment. About 7000 locomotives were sent to all fron- the workman, under the tremendous rise in prices tiers for inspection before the Allies found 5000 accept- to the depreciation of the mark, finds himself barely able ones. The lame ducks were thrown back on the to keep beyond the stage of actual want. Meat, Germans. The locomotive shops were called upon to h the Germans had been accustomed to eat, is make many repairs. Practically all the copper fire- seldom had by the workman nowadays. To augment boxes of the German locomotives had been stripped for gos his pay, many a man is working on the outside at military purposes and iron or steel substituted. In the Pee | partment of Commerce 1623 case of engines still deemed in fair condition, copper has been renewed. Despite an immense amount of repair work undertaken by the locomotive shops, the German rolling stock is still a long way off from that high standard which it had attained before the war. In the 10 years preceding the war, the German rail- road trains ran with a block-like precision that was proverbial. Such a thing as a late German express train was practically unknown. Accidents were of the rarest happening. But it is different today, and no one recognizes it more quickly than the locomotive works directors who come into direct touch with all short- comings. There is a lack of the old-time discipline. The experienced personnel of pre-war days to a great extent is gone. railroads during the war, transferring great masses of men first from frontier to another, and the maintenance of upkeep and supplies under tremendous pressure, all this used up both material and personnel. With a return to peace, there was the necessity for providing employment for many. The railroads very soon became over-staffed, and much of the per- sonnel was unsuitable. There has been real effort made to improve this situation, it is said, and conditions in both 1921 and 1922 show steady progress. The heavy military demands of the one Lack of Skilled Men a Serious Drawback In the locomotive shops, however, it has not been possible to create a productivity equal to pre-war days. The falling off is accounted for by the Germans as a direct outcome of the foreign political pressure, and of abolition of work beyond eight hours. Sunday work has ceased and overtime workers are to be had only by permission of the unions. In some instances the unions, where a very special claim is made, will permit of two to three hours’ overtime, but in such cases the pay de- manded for the workman is high. While the great bulk of skilled mechanics who were in the German shops in 1914 disappeared in the war, the heads of locomotive works today are endeavoring to develop a new set of skilled men. But at the best those they termed, as they say at Borsig, “the most skilled of the unskilled.” men in the locomotive shops in war time. have so far evolved might be properly There was no opportunity to train young Instruction was out of the question, and besides the shops were called upon to produce much equipment of a warlike character, even cannon. Following the peace came the revolution, and now with socialistic ideas prevalent among the workmen the lot of a works’ superintendent or director is not an easy one. It may be that the brother in Poland has learned to, will ignore eventually socialistic notions, and become as it were immune. But workman is a German workman, as his it must be remembered that the Polish member of a nation that has come out victor, and that his general lot is improved, whereas the reverse is the case in Germany. No wonder, then, that at a works such as Borsig’s, which before the war could challenge in shop efficiency any locomotive plant on the continent, they are apt to characterize the low morale of the Ger- man workmen of today in no unmeasured terms. The Mark and Foreign Business As to improvements in locomotive design or con- struction, little or nothing has been done since the war. The entire effort of the plants has been directed to making good war damages by deterioration or excessive demand, filling all orders possible and endeavoring to hold on to old clients abroad. There seems to be a pretty general feeling that the falling mark was de- signed to help obtain foreign business, and that any stabilizing would tend to check exports. However, those with clear vision declare that if the shock has to come when the mark is checked in its fall, it is only delaying the catastrophe to put it off. THE IRON AGE December 21, 1929 With regard to raw material the locomotive in common with other industries, have felt the «ho. Bs age in coal. The sheet industry also has been hay pered by raw material shortages, and this has refle on the locomotive plans. Scrap iron so far has plentiful, but this is bound to run out before plant LIU when new difficulties will be met. Right now consid. able scrap is reported to be coming in from Russia. i this and other items exported by the Soviets are s 5 . ing as a credit abroad. It seems to be pretty well recognized, however, + the world’s market price on locomotives is being rea by German trade, and that in the immediate fu: 2 business abroad will be more and more difficult to cure under existing limitations in Germany. The chine tool trade in Germany has recognized this fact ready, and the increased difficulty is experienced in German iron and steel industry in general and i: cutlery works at Solingen and Remscheid. Not only there been a decrease in foreign business of late. cancellations of orders are reported in many instar What applies to the locomotive, machine too] other metal trades is also applicable to the boiler ple. I visited shortly after the Borsig shops the D boiler works at Diisseldorf. This plant produced n of the water tube boilers for the German navy since the war it has turned its attention natura] commercial work. The Durr works received at th: set many orders from foreign countries for refin: power stations and the like, and today has orders a! for several months. The ability to maintain itself anything like a profitable position is dependent on same elements which affect all the other metal trad: Great Concern About the Future Viewed in the light of competition, the Gern shops are today in no shape to give serious concern establishments capable of giving accommodation. T! low quotations on German goods which poured fort immediately following the armistice were a desperati effort to hold some of that foreign business which t German industries enjoyed before the war. Wh falling mark undoubtedly helped this effort at th set, the fear now is that this fall has gone beyond power of stopping. With doubt and uncertainty pying the mind of the German director, with the men underfed and undernourished, with a moral normal, with shop hours limited, and with a gr scarcity of raw material, the outlook for the G« industry is not favorable. The main thought of workman for the coming winter is enough of food and clothing to maintain life. The t has not yet come when he may think of accumulating Compared with the Russians whom I had just lef behind, the German seems to be the more troubled the future. The Russian is at least looking forw He believes reconstruction is at hand. The Pole kn that for Poland it is here. The German hopes coming, but so far he has only learned that this called present activity is a fictitious thing without real assurance of lasting value. German Newton Steel Co.’s Plans Revision of its original program of expansion 4! plant in Newton Falls, Trumbull County, Ohio, is nounced by the Newton Steel Co., Youngstown, eig)' new sheet mills being installed instead of six. The installation will give the company a complement units. It is expected four of the new mills will mence operations early next year. Directors hav: ; clared a quarterly dividend of 2 per cent on comme! 4 stock, payable Jan 4 to stock of record Dec. 20, makin: ; a total disbursement for the year of 5 per cent on junior issue. Heretofore the company has distributes 1% per cent quarterly on common. It has also author 4 b ized the regular preferred dividend of 1% per ce” t hn irallel slots in the breech block. her parts of the piece, are whittled out in Special Machines Found Economical Interesting Methods Developed for Handling Gun Parts— Continuous Milling Machine and Draw Cut Shaper Built by Parker Brothers Years Ago BY L. ECULIAR shapes of some of the parts composing the operating mechanism of shot guns makes it ex- ceedingly difficult, and in some cases impossible, to ichine them economically on commercial types of ma- ine tools. To produce these parts gun makers have de- loped special machines to perform difficult operations. ‘pical of such solution of problems confronting them the manner in which Parker Brothers, Meriden, Conn., inufacturers of shot guns, handle some of their work. One of the operations which would impose an impos- le task from the economical production standpoint any ordinary machine tool is the milling of two These slots are % in. Special Cutters by Oscillating Motion Produce Breech Undercut Block le, % in. long, with a %-in. radius at the closed end ese slots, being inaccessible to the ordinary milling ‘hine or profiler cutter, owing to interference from a special hine with special form cutters. The machine on which this work is handled has a iin column, knee and table, similar in appearance to se of a hand milling machine. The shaft, which ild correspond with the spindle of the milling ma- hine, carries on its front end a cam and on the rear be 1 a crank. The cam or eccentric actuates a forked which carries two rollers riding on the cam. This rocking back and forth under control of the cam, 7 =| The Top Lever Rocks on Centers to Machine Leve Concentric with the Shaft ittached to the work holding the fixture, mounted o1 table of the machine, thereby producing a reciprocal! tion in the fixture and work. This motion, being sitively timed with that of the cutter, relieves it and events drag on its back stroke. An extension bracket mounted on the side of the imn carries the cutter spindle or shaft. On its rear this shaft is joined by a crank and connecting rod the crank on the main spindle or cam shaft. This iliary shaft carries the cutter holder, in which are inted two cutters set the correct distance apart to luce the proper spacing between the slots. The tters are of special type, are made double ended, as economy of steel, and are of a size and form to respond with the width and radius of the slots to nachined, thereby producing the proper contour, as work is fed against the cutters by means of the S. LOVE table feed. The cutting action is produced by an osci lating motion set up by the cranks and connecting rod, rocking the cutters on centers. When fed in to the proper depth the slots are finished. Another operation for which a special machine has been designed is the finishing of the top lever, con centric with its rocker shaft. This shaft is first turned in a small lathe, with a special former controlling th: tool. Three diameters are reduced to size in one set up. The shaft is then mounted in the special machine, which is similar to a bench lathe. The live spindle, instead of revolving, has a reciprocal motion. This is produced by a rack meshed with a pinion on the rear end of the spindle. This rack operates vertically, receiving its motion from a crankshaft located below the bed of the machine. The reciprocating motion of the rack oscillates the lever against a scraping tool, which pro- duces the desired finish and contour. The tool is fed across the work by a ratchet feed mechanism. Continuous Milling Operation in Use for Years Continuous milling appears to have been developed by Parker Brothers long before that method of manu facturing was generally recommended by milling T ? r T Of = on HT | | | | | 7 Forging | Match Milled in a Fixture \ ) rw Positions 90 Deg. Apart machine manufacturers. The machine used was de signed and built them a number of years ago, and incorporates several features which are used in recently designed machines on the market. This machine carries a chucking fixture on its spindle. The fixture has six stations to hold an equal number of breech blocks. The operation is the milling of the front end of the block to a curve which is not a true circle. As the fixture is revolved, the milling cutter head is moved to follow being controlled by the contour, two one formers, Gual Bow Are Held Two at a Time in a Self- 7 nsating Fixture working against the other to produce the curve desired. Tapered rollers, instead of straight, ride on the formers to compensate for grinding of the cutters. The fixture is indexed by an over-riding ratchet feed. After the first revolution of the fixture a completely milled block is removed and a fresh blank inserted as each successive station reaches the operator’s position. A cleverly designed fixture has been designed to hold a small latch forging for milling. This forging is shown in an accompanying sketch. It is necessary that 1625 — Pe ee i : i . + : ; : : te Rigged re : ' Fisiths 4% Mel bg hays Bod th ee eiet BM PY ‘ ‘ ay ‘rg : - 4 Y . ve Pale: . } ‘ ® pe : r a y) / fi ’ to4 (+ > , i d i PE .? tu “re r te ” a wr ; ” ’ : ; : . a at ‘ i? 4 Rieke , 4 ty a Toe, oll ’ 4 tit. *b fio } . ww : if » a af Pals C 1626 the be milled shown. The nngue of this latch and the space between the ears This is accomplished in the fixture jaws of the vise to hold the work are cam to match. closed. The work is then passed under the milling utter, which mills the tongue up close to the ears. The fixture then indexed 90 deg. and the cutter is passed between the ears, thus matching the second cut entirely with the first. The indexing of the fixture can readily be understood from the sketch. A double end latch holds against a pin at one corner, thus securing the fixture for the first operation. Ninety degrees away is the other end of the latch which registers on the pin for th second operation. s located diagonally the latch around This pin so that moving 90 deg. brings the fixture and piece at right angl with its first position for the second operation. The guard bow or trigger guard, being irregular in difficult to manner that with their slight variations in This snape, Was foul grip ina would hold the forgings, size, sufficiently rigid for slab milling the sides. l operation is performed by holding the work in a fixture designed to hold two of the bows at once. The fixture consists of a cast base in the center of which are mounted two fixed tapered blocks as shown in sketch. On either side of blocks are the with right these movable jaws, floating screw and left-hand nlie@a DV a GERMAN [TRON RISES SLIGHTLY Steel Prices Not Advanced, But Gain in Exchange Pushes Dollar Values Up GERMANY, Dec. 19.—Foundry iron No. 1 is w 160,528 m. per metric ton ($24.43 per gross ton, on s r 13 per 100 m., compared with 159,390 m. last veek. Prices of steel products remain, in marks, at ist week’s figure ingots, 214,300 m.; bars, 293,200 m.; nit leets, a 150,500 m Due to the advance in ex hange value of the mark, from 1c. to 1'44c. per 100 n., a if these “stationary” prices show increases 1! dollar values, ingots becoming $32.66 per gross ton; urs, 2.00c. p ind thin sheets, 3.06c. per |b.) Freight Rate and Coal Advances Cause General Price Increase—Scrap Higher Than Pig Iron BERLIN, GERMANY, Dec. 1.—The recent temporary mprovement in the exchange led to hope of a probable ha the upward movement of prices. It has, how- ever, been short-lived and heavy increases are again taking place all-round, on account of the 150 per cent increase in railroad rates Dec. 1, and the rise in the coal pric Bituminous coal, which is taken as the basis of calculation, has been increased from 14,011 m. to 22,763 m. per ton, and pig iron, steel and other products have followed. The Association of German Iron Foundry Masters has raised prices for building and machine castings 20 per cent plus 50 m. per kg., and for commercial castings 40 per cent. Prices for material have been raised 8 to 10 per cent and are now as follows, per metric ton: [Advances reported 1589, rolled 1y radiogram from Berlin were printed on page Dec. 14 Another appears above. ] Dec Nov. 16 TRO 161.600 196.806 7TS.000 8 800 188.706 14 ( 143.200 3 "240 800 216.700 »43. 30 219,201 263.7 237.900 Hy , So. 800 258.700 W ire rods 260.400 235.000 eS < Ni 6 and } i) °74.400 247.300 Neé t 309.000 2TS.800 No 11 t 0 348,700 311,900 No. 20 and lighte 373,600 332,000 *United States gag Open-hearth material is about 10 per cent higher than the foregoing prices. The steel association (Stahl- THE IRON AGE December 21, 19 P threads. These movable jaws are each three rocking blocks, backed against a block op by the screw, and sliding in grooves or guides p» with the axis of the screw. Work is laid agai; fixed blocks in the middle of the base and th, turned to tighten the jaws. As the blocks wh moved by direct action of the screw advanc: the middle of the base, the rocking blocks adjust selves to any irregularities of the pieces to be hy the floating action of the screw compensates fo) tions in movement necessary on one side over t¢] the other side of the fixture, thus gripping bot securely for milling. This company, many years ago, designed a: a draw head shaper to plane the butts of s} The ram of this machine is rectangu section and carries a head similar to that emplo draw cut shapers now on the market. This shan: plane any desired contour on the butts. The head ment is controlled by a bar which is attached to j The other end of the bar rides, by means of a ro a form attached to the side of the ma Adjustment of this block, acting through the bar, afi the position of the head while planing, thereb mitting different contours to be planed. The d: this machine is similar to present day shaper driv: COMmpo iV A barrels. h? L- DLOCK bund) has raised prices so rapidly of late that G: prices for rolled material are on the same lev: in some cases even higher than foreign quot Considering that foreign manufacturers must with much higher production costs, the policy Stahlbund is the subject of considerable comment. iron and steel prices, which were reduced by abou per cent for the last week in November, have n established for December but it is reported or authority that they will be increased again. The scrap market is erratic. Customers s pay a part in advance, and as payment is mad tween the 15th and 20th of the month following ery, the heavy capital required to carry accounts the trade to effect as many deliveries as possibl bore the end of the month. The first half of the is therefore quieter than the second. Prices ar 110,000 m. per metrie ton for iron scrap, about m. for steel scrap and about 150,000 m. for ma: cast scrap per ton. These prices are higher tha man pig iron quotations, and are even above quotations. The reason for this anomaly is the sive speculative buying going on, as high as 135,! being paid for iron and steel scrap. Although are not paying this price yet, speculators expect to advance. 4 At a recent branch meeting of the Associat German Engineering Firms in Diisseldorf at manufacturers of heavy machine tools were sented, it was stated that some companies had considerable losses, as the present sliding sc: not allow for the exorbitant incr: costs which has taken place. It was decided t duce a compensating price system similar to in use in other lines, according to which pri being adjusted in relation to the changing econo! ditions. It was suggested that an effort bé¢ induce customers to accept alterations in contra the manufacturers were in a number of instan able to execute the orders under the stipulated tions. Unemployment has increased slightly, whic! tributed to the usual curtailment in some tra this The expected heavy unemploy: evidently not taking place. prices does season. Civil service examinations for a mechanical « for the Washington Navy Yard, several aero! positions and for mechanical draftsmen, are an! by the United States Civil Service Commission, W ington, to which application should be made fo: information. F ecember 21, 1922 sm BUSINESS CYCLE DISCUSSED lts Characteristics Outlined and Limitations Con- sidered by Economists At a dinner of the American Statistical Associati 1 at the Mac hinery Club, Ne WwW York, Dec. Ld, several eakers outlined the principal features of the so-called siness cycle, but all disclaimed any pretension « g it for predictions. As a matter of fact, they phasized their inability to pred even the duratio! such a cle between peaks or between hollows and ited that the principal benefit to be gained from it sideration would come from a study of its interna np sition. Prof. Wesley C. Mitchell, director of the Nationa jsureau of Economic Research, defined he busines e as being a recurrent sequence of (1) prosperity, ) crisis, (38) depression and (4) revival, and stated it the observation of this sequence and of its effects is International as the literature dealing with it. He ed out that the expression “business cycle” was which could be justified as to both terms and defined is a series of business phenomena which returns O itself. There is no regularity, either as to the rth or the amplitude, each such cycle being a un jut se of human experience. Nevertheless, one can rec rnize the similarity between successive cycies and a low exactly the rotation above mentioned Both Professor Mitchell and other speakers pointed he observed fact that cycles in consumers’ com lities are less violently variable than in other com lities and that, so far as consumers’ products ars cerned, the rate of consumption is more stable thar rate of production. These facts were known som ne before it became possible to proceed with quant ( analyses. Length of Recurring Periods Professor Day of the Harvard Economic Committe: nted out that, until recently, because of lack of data, st business analyses had proceeded on the basis of ial figures. This, he stated, is the reason why so ; tle progress was made in getting at basic reasons and necting them up with results. Even quarterly dat not sufficiently frequent and so far as possible statis ians have come to demand monthly data on all im rtant business movements. In some cases the inte! is even less, for we have weekly figures in a good lines. Analyzing such data for a composite bus curve covering the period from 1877 to 1920, | that the period between successive low points ried between 26 and 48 months up to the time when great war dislocated all such analyses. The averags placed at about 40 months, although he found four essive periods in the early part of this century of 13, 44 and 44 months. There is thus a periodicity 1, while not definite, may be roughly approximated. Extremes Less the Nearer the Consumer In manufactured goods, particularly, the amplitud ‘ ariation is much greater below the normal line thar ve it. To fit the normal line, therefore, the duratior the period above is greater than that below. It often that the normal is exceeded by more than 20 cent, but a loss of 50 or 60 per cent below normal Is uncommon. Thus, the recurrent periods of pros ity have longer duration than the depths of de ssion. The closer the item under consideration is to the nsumer, the less violent will be its fluctuations. Pro- sor Day made a comparison between the production news print and of footwear, both of which go into t final consumption, with pig iron, which does not. the former case, the variation is confined almost lly between 90 per cent and 110 per cent of normal, le pig iron fluctuates between 30 per cent and 130 cent, or through 100 “points” against 20. In al se cases, however, the presence of an accumulated k may interfere with the regular flow of the curve. ese stocks intervene between production and consump- n, and there is normally a heavy depletion of stocks THE IRON AGE 1627 before production on a large scale is resumed after a period of idleness. Col. Malcolm C. Rorty, of the American Telephone & Telegraph Co., showed a noteworthy chart entitled “A Half Century of American Business.” This is based on monthly figures of a large series of items beginning with 1877. Other items were added to from time to time as additional data became available on the monthly basis so that, while the first eight years of the period were based on monthly pig iron figures only (figures of the number of furnaces in blast, only) the last few years were based on many items, including pig iron. The next series added after the pig iron was that of bank clear ings outside New York. The two items carried through 1892, after which Bradstreet’s index was added as a 1 item and so successive additions were made until the present index is thought to be sufficiently complet« to represent very closely the trend of business condi ns. This diagram, which is believed to represent the ongest continuous monthly data extant, has a norma iine a 1 the irvé + give! n percentages above and low that norma For the most part, the amplitude 1f prosperity and of depression lies between 10 per cen and 20 per cent from normal. The maximum show! above the line was 18 per cent, while one point wen » pe nt below the normal Milwaukee Metal-W orking Shops Busier I y-eight shops reporting to the Milwaukes ranch of the National Metal Trades Association re ported ar ease of 536 employees in October ove1 September. The total number employed in October was 16,166, as against 15,630 in September. The averagi number of hours worked per man per week was 52.1 in Octobe ind 51.1 in September. The total number of man hours for 36 shops in October, 1922, was 2,956,266, P $ m1 as aga : ) V Let ley dl e 1921, a gain of 72.6 per cent. At the high point of pro luction, however, in March, 1920, the number of man hours for these 36 shops reached 4,212,392. ”) 2 for the same shops in October, Reorganization of International Steel Tube Co. The International Steel Tube Co., Cleveland, at a pecial meeting of its stockholders Dec. 15, decided to affect a reorganization and unanimously adopted reor ganization plans presented. The company, which ha a Delaware charter, will be reorganized under the same name as an Ohio corporation. It is understood that N. E. Smy , S. R. Smythe Co., Pittsburgh, will be presi lent of the reorganized company. Mr. Smythe is presi lent of the present company, having succeeded H. P Bope, who recently formed the American Steel Corpo ration, which is promoting the erection of a blast fur nace and steel plant at Sandusky, Ohio. The Interna tional Steel Tube Co. has its plant virtually completed with the exception of installing some equipment and expects to be in operation about May 1. Cars in Need of Repairs The number of freight cars in need of repairs on \merican railroads continues steadily to decrease, ac ‘ording to reports received from the carriers by the cat service division of the American Railway Association. On Dec. 1, 226,288 freight cars, or 9.9 per cent of the ars on line were in need of repairs. This was a de rease of 9372 cars since Nov. 15, at which time there were 235,660 cars, or 10.4 per cent. Cars in need ot heavy repairs totaled 176,006 compared with 187,596 on Nov. 15. On Dec. 1 last year, 320,292 cars, or 14 per cent of the total number on line were in need of repairs. Gear Makers to Meet in April The seventh annual meeting of the American Gear Manufacturers’ Association will be held at the Hotel Cleveland, Cleveland, April 19, 20 and 21, 1923. wing ~~, i ene Pe = pee wees : fs 5, tay Le ate Qh + is Ne * : a Bick) | ii ' % . " , Pe % F ‘ 1h Y rink, : Mr * 43 ia ri rie Day ii Oe! iol oe nt 1628 THE IRON M. A. HANNA CO. ORGANIZED AGE December 21, 192° of M. A. Hanna & Co. in the various affiliated organ tions will be exchanged for second preferred and | Takes Over Properties of Partnership—Stock Issue of $12,000,000 Quickly Subscribed Details of the organization of the M. A. Hanna Co., Cleveland, to succeed the partnership of M. A. Hanna & Co. have become known in connection with the an- nouncement of banking interests of a public offering of $12,000,000 of the first preferred stock in the new company. The entire issue was subscribed the day it was advertised. The new company, which is an Ohio corporation, will take over the assets and business of M. A. Hanna & Co. and affiliated interests in ore mines, blast furnaces, lake vessels and coal properties. There will be no change in the personnel, as the management will be in the hands ° ' HUE SeROUNANED NNER EANCEASONEOOHOT NONE mon stock in the new company. ‘ The companies wholly owned by the M. A. Han, a Co. are the Wakefield Iron Co., Virginia Ore Min Co., American-Boston Mining Co., Pittsburgh & Ea t ern Coal Co., the M. A. Hanna Coal & Dock Co., Pa Creek Coal Mining Co., and the Wheeling & Lake Er Coal Mining Co. In addition the company has interes: in the following companies, its ownership in all but f representing the controlling interest: Bates Iron ( Boomer Coal & Coke Co., Calumet Transportation ( Consumers’ Ore Co., Hanna Furnace Coal Mining Co., Mahoning Ore & Steel Co., New Fi: By-Products Coal Co., New Field Coke Co., Nokay Ir Co., Producers’ Steamship Co., Richmond Iron Co., Sy quehanna Collieries Co., and Waukenabo Co. Co., OLIEL SS Si L¢ LY aie eee Massill: Earnings of M 1. Hanna & Co. for Five Years 5 Average 1917 1918 1919 1920 9 Net income after all charges including interest, but — before depreciation and depletion reserves and Fed Os GOS no bb kav eb oes ec uan es nt <s ‘ $3,557,950 $5,273,607 $4,268,364 $2,378,184 $5,373,450 S496 14 Deduct depreciation and depletion.. his ‘ 806,193 1,003,741 976,811 735,534 977.900 "ane Net income before Federal taxes.............08.: 2,751,757 4,269,866 3,291,553 1,642,650 4 395.550 15 Deduct Federal] taxes at present rate of 12% per cent.. 343,969 533,733 411,444 205,331 549.444 a Net income after Federal tax deduction.............. 2,407,788 3,736,133 2,880,109 1,437,319 3 846,106 12 Add company’s proportion of undistributed net income y P of partially owned companies applicable to dividends on shares owned, less Federal taxes at 12% per cent 786,881 2,146,771 1,987,433 1,134,491 1,100,375 *2,434 $3,194,669 $5,882,904 $4,867,542 $2,571,810 $4,946,481 *$2,295.4 *Loss of the seven men who have been active partners in the firm. Matthew Andrews will be chairman of the board of directors and Howard M. Hanna, Jr., president. The other members of the partnership are Leonard C. Hanna, Jr., Franklin B. Richards, William Collins, Richard F. Grant and George M. Humphrey. The business of the Hanna firm was established in 1867 by Daniel P. Rhodes, father-in-law of M. A. Hanna, under the name of Rhodes & Co. and was taken over in 1885 by M. A. Hanna & Co. It was greatly ex- tended under the direction of M. A. Hanna and his brothers, Howard M. Hanna, Sr., and Leonard C. Hanna, Sr. Since the organization of the present firm, it has managed and acted as sales agents for a large number of companies, many of which it controlled by stock ownership. The new company will handle through the properties it will operate and its sales agency con- nections a normal yearly tonnage of 15,000,000 to 20,- 000,000 tons of iron ore, coal and pig iron of which ap- proximately 1,000,000 tons will be in pig iron, the re- mainder being about equally divided between ore and coal, During the past few years, various interests in the firm have reverted to estates through deaths of older members and this was a factor in deciding to form an incorporated company. The new company will in a sense be a holding company, as it will acquire various holdings now owned by the present partners and by estates, but it will also function in the operations of the various properties similarly to the present partnership organization. Since 1885 the average return under the partnership has been more than 22 per cent per annum upon the average annual capital and surplus invested. During the ten years previous to Dec. 31, 1921, the average an- nual return was approximately 15 per cent. For the five years ending Dec. 31, 1921, the net income averaged $2,407,788. The new company will have net assets of $30,127,027, or $251 per share of first preferred stock. The capital stock will consist of $12,000,000 of first preferred 7 per cent cumulative stock, $20,000,000 being authorized, $2,594,800 of convertible second preferred 8 per cent cumulative stock of $10,000,000 authorized, and 275,198 shares of common stock of no par value, of an authorized issue of 500,000 shares. From the pro- ceeds of the first preferred stock a sufficient amount will be applied to retire $1,573,300 first preferred stock of the Standard Investment Co., which has been a hold- ing company of ownership in the 21 Hanna interests that are combined in the new organization. The re- mainder will be used to retire obligations and for work- ing capital. The investment of the members of the firm HOUUUONN HUE RE NOON EDEN HSaaNaBRONNEN HENNE sosanens The company will control through the ownershi; a substantial majority of its common stock the Han: Furnace Co., which operates eight blast furnaces Detroit, Dover, Ohio, Leetonia, Ohio, West Middlesex, Pa., and Buffalo. In addition to having other large or mining interests, the company will have full ownershi; of the Wakefield mine, located in the Gogebic range. It will have full ownership of companies owning 17 bitu minous coal mines in West Virginia, Pennsylvania, and Ohio, in addition to controlling other large coal prope: ties. Its lake vessel interests will consist of a 22 p: cent interest in the Producers’ Steamship Co., and a 6 per cent interest in the Calumet Transportation ( having eight modern lake freight boats. The first preferred stock issue is being placed the market by Dillon, Read & Co., New York, and Union Trust Co., Cleveland, at $102 per share, to y 6.85 per cent. Earnings for Five Years For the five years ended Dec. 31, 1921, the earni: of the interests now consolidated in the M. A. Har Co., together with the proportionate amount of wu tributed earnings of companies partly owned applica to dividends on the company’s interests therein, shown in the table. Ground Broken for Michigan Steel Corpora- tion’s Sheet Mill The Michigan Steel Corporation, which is bui a modern specialty sheet mill at Ecorse, Detroit, broken ground for the building foundations and purchased from the Mesta Machine Co., Pittsburg complete hot and cold mill train together with Mesta drive. All equipment is of special design and ext heavy steel castings, this particular equipment > developed as especially applicable for the production 0! high-grade sheets used in the building of automo bodies and parts. This does not mean that the company has purchas' all of the machinery that it will require, as it is st open for bids on finishing department, annealing 3! pickling equipment and all inventory items. The ra road siding has been laid into the plant, and mat for building are being assembled. TY The manufacture of wrought brass in the ele: furnace is to be discussed by W. R. Webster, vice-pres'- dent Bridgeport Brass Co., at the meeting of the Prov dence Engineering Society on Tuesday evening, Jan. 1° P| yecember 21, 1922 INDUSTRIAL MACHINERY , ‘any Problems Presented to One Division of Commerce Bureau WASHINGTON, Dec. 19.—The problems confronted by ie Industrial Machinery Division, Bureau of Foreign nd Domestic Commerce, are not simple because there re more than 4000 factories in the United States pro- icing industrial machinery, and in 1919 the products these factories were valued at over $2,200,000,000, which nearly $400,000,000 was exported in 1919, ratio of about 17 per cent. Making this observation 1 his annual report for the fiscal year ended June 30, 922, W. H. Rastall, chief of the division, points out 1at the need for such a division is shown by the rapid nerease in the number of inquiries answered by it from eek to week. The number for the week ended Oct. 8, (21 (the division was organized in the fall of 1921) is 21, while for the week ended June 10 it was 400 id in the week ended May 20 it reached 629. Mr. ‘astall points out that many machinery manufacturers ive called personally at the division’s offices, the total imber of visitors up to June 24 having been 166. One of the first problems attacked, says the report, as that involving the exporting of American steam vilers, as it is necessary to have these comply with the iws governing the construction and operation of such vilers in each country of destination. A brief state- New Seven-Ton Gasoline Locomotive A new 7-ton, four-speed, gear-drive gasoline loco- )tive, found to have developed and maintained a draw- ir pull of 5250 lb. at 2% miles per hr. on sanded rails, is been placed on the market by the Fate-Root-Heath , Plymouth, Ohio. The speeds are 2%, 4, 8 and 12 es per hr., either forward or reverse. Unique design of the transmission is credited with results attained. Gears are unusually large and issive, and a feature is the additional shaft and the al gear, which is 14% in. in diameter, and has a 4-in. ce. This gear is intended to permit of the proper ed reduction, and also the placing of the sprocket 7 ift, which it drives, on the same plane with the axles, jackshaft being required. The other gears are of ind 2%4-in. face, and of large diameter. The sliding irs are made in pairs on the second driving shaft, ing extra long hub length and minimizing wear. ven gears only are in mesh. Forward and reverse eeds are by means of large bevel gears with internal ir teeth, into which the pinion that drives the main ir meshes, obviating use of clutches. Gears are of y steel, hardened, and are mounted on large shafting { ball bearings. Bearings are located inside of the ir case, from which they receive adequate lubrication. The final drive is by means of two short, heavy ins, one to each axle, driven directly from the trans- ssion. The engine is a heavy-duty Buda model, four- inder, 5-in. bore, 6%-in. stroke, equipped with Bosch vh-tension magneto and starting and lighting, a ree governor and Stromberg carburetor. The radi- a‘or is the Modine sectional core type, cooled by a THE IRON AGE 1629 ment regarding the situation in each particular country has been prepared and distributed to those interested. In co-operation with the Automotive Division, a survey of the world’s highways has been made and in those instances where important construction work is in hand the attention of interested manufacturers has been directed to the situation. Correspondingly, in co-opera- tion with the Transportation Division, a survey has been made of the railroads of the world and called to the attention of those interested in this field for machinery. Contact has been established with a number of groups of machinery manufacturers in an effort to co-operate with them in the solution of their foreign trade problems. Mr. Rastall points out that special surveys of the foreign markets for refrigerating machinery, machine tools and other kinds of equip- ment have been made, followed by a thorough sales analysis, and interested manufacturers have been shown where the best markets may be found and have been given information regarding the dealers best fitted to serve them in each of these markets. Mr. Rastall calls attention to a report, prepared by himself, which is about to be used regarding the machinery markets in Asia. The report is a result of an investigation by Mr. Rastall, when he was a trade commissioner. Mention is made of the fact that special and confidential circulars were issued to the number of 240 by the division, most of these being for the purpose of calling attention to opportunities for business existing in foreign fields. Attention also is called to articles in Commerce Reports. 24-in. fan, and protected by a steel guard, as shown. The clutch is of the dry plate type, having nine driving disks faced on each side with non-burnable facings. The axles are 3 15/16 in. in diameter and are mounted in Hyatt heavy-duty roller bearings with hardened steel sleeves to take the wear. Axle end- thrust is taken by bronze thrust plates placed in the axle boxing caps, which provide adequate lubrication. The axle springs are 12% in. long, the wheels readily following uneven track and giving excellent traction. The brakes are placed between the wheels, and the brake shoes engage both the tread and flange of the wheel. Brake rigging of the lever type is used, which is said to give the same pressure on all four wheels, regardless of the wear on the wheels or shoes. Sand seen neerne Full View of Locomotive Is Shown at Left and Views of Transmission Below pipes are located close to the rails and sand boxes are close to the engine to keep sand dry. The valve does not slide on its seat, a construction which eliminates wear, and the sand, being agitated when the valve is opened, assures a positive flow. The frame is massive, built close to the track, and the bumpers are arched so as not to derail cars in rounding sharp curves. The cab and canopy are of all- steel construction and the cab has side as well as rear entrance. Wire glass windows are provided in the cab. enema Bie aan ans» aw - te aig gas kgs ~ ie” ° THE IRON 1630 New Hammer Die for Drawing Tapers A combination hammer die for drawing tapers, available for any make or size of trip, air or steam hammer, and from the use of which, it is claimed that one man in one heat can draw any taper that can be handled under a hammer, has been placed on the market by Beaudry & Co., Inc., Boston. One end of the die is provided with a tilting face, as shown in the illustration, supported so that it moves freely on a fixed axis. The operator by shifting the position or angle of the work, and striking a light blow automatically adjusts this tilting face to any desired angular position with relation to the top hammer die. Thus any taper desired may be given the work, and any shaped piece can be completely finished and smoothed up, point and all, without hand finish. Scale falling between the tilting face and die holder Drawing Combination Hammer Die for Tapers is worked into a pit through grooves and forced out through a hole in each side of the die holder, an arrange- ment intended to assure that the tilting face works freely at all times. The fixed plain part of the die face can be used for general forging the same as any ordi nary die. The die holder is cast of gun iron, and the tilting face is forged from 0.60 per cent carbon hard steel. The die can be used to advantage on such work as flat, cape, diamond point and track chisels, caulking tools, railroad spikes, cant dogs, wedges and shims, slice bars, crowbars, pickaxe ends, drift pins, marlin pins, bucket teeth, rocker arms, eccentric rods, equalizing levers, valve yokes, brake levers, keys, gibs and similar work. American Bolt Corporation Formed The American Bolt Corporation, Dover, Del., has been incorporated with authorized capital stock of $10,- 500,000 for the purpose of acquiring and consolidating under one management the Standard Bolt Corporation, Columbus, Ohio; the Bayonne Nut & Bolt Co., Bayonne, N. J.; the Michigan Bolt & Nut Co., Detroit, and the Boss Nut Co., Chicago. In this connection the new corporation is offering a $1,750,000 issue of first mort- gage, 15-year, 7 per cent sinking fund gold bonds at par and interest through Brooke, Stokes & Co., Phila- delphia, and Hyney, Emerson & Co., Chicago. J. Rich Steers, president Mayonne Nut & Bolt Co., is attending a conference of the principals which is being held in Detroit for the purpose of completing the financial program and to outline the course of manage- ment. Record Output of Portland Cement All records have been broken this year in the pro- duction and shipment of cement for building purposes. Already in 11 months the output has gone well beyond the largest 12 months’ record preceding. Figures of the Geological Survey placed the November production at 11,349,000 bbl., making the total for the 11 months 105,199,000 bbl., compared with the record output of 1920, when for 12 months the total was something under 101,000,000 bbl. November is the seventh consecutive month showing an output of more than 11,000,000 bbl. Shipments for the 11 months have totaled 111,705,- 000 bbl., the November figure being 10,167,000 bbl., this being the seventh month in which shipments exceeded 10,000,000 bbl. In both production and shipments No- vember shows a distinct falling off from October, but AGE December 21, 192 the decline is far lower in each case than the usua sonal decline, because of the fact that building tions are going ahead this fall in much large, than is customary. Exports for the first ten months of the year sho total of 912,109 bbl., or not quite 1 per cent of the p duction. Imports are negligible, being only about 15 000 bbl. About 38 per cent of the October exports w: to Cuba. Nearly all of the balance went to other W, India islands, South and Central America and M pe ee Bet Large Western Electric Co. Improvement- The Western Electric Co., Hawthorne, IIl., has menced the construction of a copper rod mill and cop; wire works, to cost $2,500,000, and a $100,000 ma shop for overhauling the locomotives and rolling st of the Manufacturers’ Junction Railway, a subsidi organization. The rod mill will be 120 x 200 ft., a the wire-drawing plant, 120 x 345 ft. The rod n equipment has. been built and is ready for installati: as soon as the foundations are complete. The mil] » consist of a roughing stand for breaking down the co) per billets, an intermediate stand and finishing which will roll down to 4-in. copper rod. From the mill the rods will be conveyed by monorail! to pickli: tanks and thence to the wire drawing plant where blocks will reduce the metal to sizes ranging from to 40 gage. The need for the wire works is indicat by