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P R O D U C T I O N • P R O C E S S I N G • D I S T R I B U T I O N • U S E F o r f o rty-cight y cars - IR O N T R A D E R E V I E W
Æ o n te n tâ
m
EDITO RIAL STAFF
E. L. Shaner, Editor
E. C. Kreutiberg, Development Manager A . J . Hain, Managing Editor
Associate Editors
E. F. Ross J . D. Knox
G . H . M anlove J . A . Cronin W. L. Hammerquist F. E. G o o d in g
N E W Y O R K
B. K. Price L. E. Browne
PITTSB URGH D. R. James
C H I C A G O W. G . G u d e DE TROIT A . H . A l le n W A S H I N G T O N
L. M . Lamm L O N D O N V incent Delport
BUSINESS STAFF
G . O . H ays, Business Manager R. T. M ason , Circulation Manager
C. H . Bailey, Service Manager N E W Y O R K
E. W. Kreutiberg B. C. Snell PITTSBURGH
S. H . Jasper D. C. Kiefer C H I C A G O
L. C. Pelott W. F. O 'D e l l C L E V E L A N D
R. C. Jaenke
M em b er, A u d it B u re a u o f C irc u la tio n » : A sso c ia te d B u s in e s s P a p e r s I n c ., an d N a tio n a l P u b lis h e r s ’ A s s o c ia tio n . P u b lis h e d e v e ry M o n d ay . S u b sc r ip tio n in th e U n ited S t a t e s , C u b a , M ex ico an d C a n a d a , on e y e a r S4, tw o y e a r s Sfi; E u ro p e a n a n d fo r e ig n c o u n trie s , on e y e a r SIO. S in g le c o p ie s (c u r r e n t issu e s) 25c.
E n te r e d a s se c o n d c la s s m a tt e r a t th e p o s to fflc e a t C le v e la n d , u n d e r th e A ct o f M a rc h 3, 1879. C o p y rig h t 1937 by th e P e n to n P u b lis h in g Co.
#
August 2, 1937
A u g u s t 2 , 1937
V o lu m e 101 - N o . 5
Reader Comments ...
A s the Editor V iew s the N ew s ...
By-Product Coke Output Pointing to Record ... 19
Financial N ew s of the Steel Industry ... 21
H earing 011 Scrap Em bargo Postponed to January ... 23
Steelworks Operations for the W eek ... 25
U. S. Steel Sells Canadian Plants ... 25
Men of Industry ... 26
Obituaries ... 26
Activities of Steel Users and M akers ... 27
M eetings ... 27
Mirrors of Motordom ... 29
W indows of W ashington ... 33
A re Some Metals “ Too Good” for Th eir Intended Uses? Editorial ... 35
The Business T rend— Charts and Statistics ... 36
Co-ordinating Sales with Production ... 38
Prefabricated Stations Built of Unit Sections ... 40
N ew Outlets Found for Malleable Castings ... 42
International Foundry Conference ... 43
Materials H andling ... 49
Surface Treatm ent and Finishing of Metals ... 53
Power Drives ... 59
W elding, etc.—Robert E. K tn fea d ... 62
Progress in Steel m aking ... 64
N ew Equipm ent Descriptions ... 70
Recent Publications of Manufacturers ... 73
Market Reports and Prices ... 77-98 N ew Construction and Incorporations ... 99
Index to Advertisers 122 Published by THE P E N T O N P U B L I S H I N G C O . , Penton Building, Cleveland, O . John A . Penton, C hairm an o f B o a rd ; E. L. Shaner, President and T reasu rer; J . R. Dawley and G . O . H a y s , Vice P residents; F. G . Sl einebach, Secretary. BRANCH O F F IC E S New Y o rk ...220 B r o a d w a y C in c in n a ti 4 1 8 -4 2 0 S ln to n H o tel S a n F r a n c i s c o ... 241S M ilv la S t. C h ica g o ... P e o p le s G a s B iu ld in „ B e r k e le y , C a lif., T e l. B e r k . 7354-W P it t s b u r g h 1650 K o p p ers B u ild in g L o n d o n ... . . . . C a x t o n H ou se D e tr o it 1010 S te p h e n so n B u ild in g B e r , j n ... 1
\ V a s h ln g to n _ 2 ia tlo n a l P r e s s B u ild in g B e r lin , X . IV. 40 , R o o n s tr a s s o 10
15
Safeguard Time, Material and Profits
M organ C arry-over Beds are the m odern rolling m ill’s as
surance o f efficient and eco
nom ical handling o f m aterial im m e d ia te ly after it issu e s from the last stand. Bars and m e rc h a n t shapes are m oved sm oothly and rapidly acro ss th e f a c e o f th e b e d , e a ch
length being transferred in a straight line. T h e accurately m achined notches are designed to avoid m arring the surface o f stock, and perm it subsequent expansion in individual lengths w ithout buckling.
Efficient carry-over beds o f all types exemplify M organ progressiveness, its constant study o f detail, and its efforts to im prove rolling mill processes, products and profits.
R2 5
M O RGAN CONSTRUCTION CO M PAN Y • WORCESTER, M A SS., U .S.A .
CARRY-OVER
16 j - TEEL
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P R O D U C T I O N « P R O C E S S I N G ■ D I S T R I B U T I O N ■ U S E
* * y *
-fli the E d ito r l/ieu/â the A/ewi
A
LO N G w ith th e ad vent o f th e dog days la s t w eek cam e a ru sh o f v a ca tio n sp irit, w hich pervaded a la rg e p o rtio n o f th e iron, steel and m etalw o rk in g in d u stries. T h e p ra c tic e o f sh u ttin g down fo r a b rie f period, p re v a le n t in th e a u to m obile in d u stry fo r m an y y e a rs, is g a in in g fa v o r in th e ste el and m e ta l m a n u fa ctu rin g in d u stries.
L a s t w eek we rep o rted th e v a ca tio n shutdow n of N a tio n a l T u be a t L o ra in . T h is w eek W a rn e r &
S w ase y w ill begin a v a ca tio n period (p. 2 4 ), during w h ich tim e th e p la n t w ill be rep ain ted , equ ipm ent ov erhau led , etc- T h is is ty p ica l o f w h at sco re s of com p an ies a re doing in J u ly and A u g u st.
T h e u rg e fo r re lie f fro m arduous d u ty in un com fo rta b le w e a th e r also h a s descended upon W a sh in g ton. A t th is w ritin g op p osition seem s to be grow in g in co n g ress to th e ad m in istra - S e n d Bill B a c k tion’s desire to enact “ m u st” or
“p re fe rre d ” le g isla tio n a t th is A n d G o H o m e ! session . F ro m in d u stry ’s sta n d
point, th e d ecision o f con gressm en on th is p o in t w ill be im p o rta n t. T h e fa te o f th e B la c k la b o r sta n d a rd s o r “h ou rs and w a g e s” bill (p.
3 3 ) h an g s on th e ou tcom e. I f it is jam m e d th ro u g h th is sessio n it w ill be a h a lf-b a k ed , d angerou s e x ped ient, ill-fitte d to th e purpose intended. E v e ry in d u s tria lis t hopes th a t th e law m ak e rs w ill re tu rn it to co m m ittee and go hom e.
R e p o rts o f ste e l com p an y e a rn in g s fo r the second q u a rte r a re b ein g scan n ed w ith m ore th a n usual in te re s t. N e t p ro fits o f 13 lead in g p rod u cers (p. 2 1 ) to ta le d $ 6 9 ,9 4 9 ,2 7 1 fo r th e second q u a rte r com pared w ith $ 6 5 ,633,- 8 3 6 in th e preced ing q u a rte r. T h is m o d e rate in cre a se w as earn ed in sp ite o f th e s trik e a g a in s t “L ittle S te e l,” w hich involved fo u r m a jo r independents and cau sed th re e o f th em to s u s ta in su b s ta n tia l red u c
tio n s in p ro fits. On th e fa c e o f th e se re p o rts, the c o s t o f th e s trik e in te rm s o f d im inished p ro fit w as S t e e l Strike
C o st H e a v y
so m e th in g lik e $ 1 0 ,0 0 0 ,0 0 0 . T h e b ru n t o f th e b u r
den o f c o s t seem s to have been b orne b y R ep u b lic, w ith Y ou n gstow n and In lan d also s h a rin g h eav ily . B e th le h e m ’s g ain in p ro fit o v er firs t q u a rte r o b scu res th e e x te n t o f its p a rtic ip a tio n in th e c o s t o f rep ellin g C IO ’s a tta c k . C o n sid erin g th e c irc u m sta n ce s, th e g r e a t m a jo r ity o f sto ck h o ld e rs d ire ctly affected p ro bab ly fe e ls th a t th e m oney w as in v ested w isely.
B y - p r o d u c t C o k e G a ins
A c tiv ity in th e co n stru ctio n o f new b y -p ro d u ct coke m ak in g ovens is a ttr a c tin g a tte n tio n to th e sp ec
ta cu la r g row th o f th is b ra n ch o f th e fu el in d u stry in the re co v ery period. In 1 9 3 6 , th e o u tp u t o f by -p ro d u ct oven s (p. 1 9 ) accou n ted fo r 9 6 .3 p er ce n t o f th e coke produced in th is co u n try . T o ta l prod u ction . o f b y produ ct cok e in th a t y e a r w as 4 4 ,5 6 9 ,1 2 1 to n s com pared w ith 5 3 ,4 1 1 ,8 2 6 in th e reco rd y e a r o f 1 9 2 9 . O utput in th e first five m o n th s o f 1 9 3 7 w as 2 1 ,6 6 6 ,- 213 to n s com pared w ith 1 6 ,9 2 6 ,8 8 9 to n s in th e sam e period o f 1936. I f p ro d u ction d u ring th e re m a in d er o f th is y e a r co n tin u es in th e sam e r a tio in re la tio n to th a t o f 1936, th e to ta l fo r 1 9 3 7 w ill be aro u n d 5 6 ,0 0 0 ,0 0 0 to n s— a new a ll-tim e record .
N o t a O n e - W a y Street
P ro p o n en ts and op ponents o f th e b ills pend ing in the sen a te to p ro h ib it th e e x p o rt o f iro n and ste e l scrap (p. 2 3 ) are due fo r a r e s t fro m th e ir a ctiv e lobb yin g. On F r id a y th e s e n a te m ilita ry a ffa irs co m m itte e a cte d to d e fe r h e a rin g s on th e b ills u n til n e x t Ja n u a r y . . . . A m a ch in e tool b u ild er d eclares th a t in m o st sa le s co n feren ce s th e em p h asis is tu rn ed ou t
w ard— th e s tr e s s is upon sp re ad in g th e co m p an y ’s m essag e th ro u g h salesm en to th e cu sto m e rs. H e b e lieves (p. 3 8 ) th a t em p h asis also should be placed on in fo rm a tio n p a ssin g in th e op posite d irectio n . H e would u tilize sa le s co n feren ce s to b rin g th e m e s
sa g e s o f cu sto m e rs b a ck th ro u g h th e sale sm e n to the com pany. I t is a good point. A s a le s co n feren ce should n o t be reserved fo r one-w ay tra ffic .
/
August 2, 1937 17
ALLEGHENY METAL... ¿ w 4 Stainless Steel
In Stock for Im m ediate Shipment
W r it« f u r b e a u t i f u l c o l o r e d b o o k l e t USA s h o u 'i n g d o t e n s o f a p p l i c a t i o n s f o r A l l e g h e n y S t a i n l e s s .
• B e a u tifu l, e n d u rin g A llegh en y M e ta l— th e t im e -te s te d s ta in le s s ste e l—
is one of th e u n ifo rm , h ig h q u a lity ste e ls c a rrie d in R y e rso n s to c k s . S p ecial alloy s, s ta n d a r d S .A .E . ste e ls, h e a t tr e a te d b a rs o r a n y o th e r ste e l p ro d u c t c a n be se cu re d p ro m p tly fro m th e n e a re s t R y e rso n p la n t. E xp e rie n ce d o rg a n iz a tio n — u n e q u a lle d fa cilitie s— a n d sp e cia l d is p a tc h in g m e th o d s a ssu re q u ick , a c c u r a te h a n d lin g of y o u r o rd ers. W h en you need ste e l, ca ll on R y e rso n . Josep h T . Ryerson & Son, In c., Chicago, M ilw aukee, S t. Louis, C in cin n ati, D etroit, Cleveland,
Buffalo, B oston , Philadelphia, Jersey City.
By-Product Coke Output
Pointing Toward an
All-Time Record
I
N 1929 the by-product cokem ak- ing process accou nted fo r th e record to tal of 53,411,826 n et tons o f coke, 89.2 per cen t o f th is n a tion’s to ta l coke output.L a s t y e a r by-product production had com e b ack to a point only 8- 842,000 tons below th e 1929 record but re p resen tin g 96.3 p er cen t of to ta l coke output.
In th e first five m onths o f this y ear by-product production o f 21,- 666,213 tons w as 28 per cen t ahead of th e com p arab le period la s t y ear.
C onstru ction o f new b a tte rie s is in th e ascen d ancy again. C o n tracts com pleted or aw arded sin ce th e first o f th e y e a r providing fo r 571 ovens.
F ro m 1932 to 1935 th e re w as no construction o f new by-product ovens. D uring th e W orld w a r con
stru ction w as a t such a peak th a t one com pany, K oppers, w as building and p lacing in op eration an av erag e o f one coke p lan t every 60 days, and one p lan t fo r th e production of toluol every six w eeks.
In 1910 th e re w ere 4078 by-product ovens in th is country, com pared to 100,362 beehive ov en s; in 1919 th e re w ere 10,379 by-product ovens, com pared to 82,560 b eeh iv e; in 1929 th ere w ere 12,649 by-product and 30,- 082 beehive, and a t th e close o f 1936 th ere w ere 12,849 by-product and 13,- 012 beehive.
C u rren t con stru ction includes 122 Koppers ovens com pleted this y e a r fo r F o rd M otor Co.; a b a tte ry of 53
ovens recen tly awarded to W ilputte Coke Ovens Corp., New Y ork, by A lgom a S te el Corp.; 146 Koppers ovens fo r T ennessee Coal, Iron &
R ailro ad Co.; 59 Koppers ovens fo r Inland S te el Co.; and 130 S e m e t So l
vay ovens fo r G reat L ak es Steel Corp. Ford M otor Co. recently placed an order fo r 61 additional ovens w ith th e K oppers Co., its third ord er w ithin two y ears. M ore than 76 p er cen t o f the 12,982 by-product ovens op erating in th e United S ta te s in Ju n e, 1936, w ere designed and b u ilt under the Koppers nam e.
T h e grow th o f this valu able asset
Q R A W IN G a by-product oven.
T h e incandescent c o /( c i s quenched by water spray to stop combustion. During the coding process gas and tar for fu el, oils and chem i
cals have been drawn off and re
claim ed
of the steel industry to th e point w here it produces m ore th a n 95 per cen t o f th e to ta l coke output is one o f th e m ost in terestin g sto rie s r e corded in the industrial h isto ry of the United S ta te s.
In 1893, the first by-product coke ovens in th e United S ta te s , erected a t Sy racu se, N. Y., accounted fo r 12,- 850 net tons of coke, o r 0.1 p er cen t of th e to ta l coke production, accord ing to th e United S ta te s bureau of m ines, which com piles exten siv e sta-
G ro w th o f B y - P r o d u c t C o k e Industry
U n ited S t a t e s P ro d u ctio n o f C oke and C oke B reez e in N et T o n s B y u. S . B u re a u o f M ines
% o f T o ta l
B y -P ro d u c t P ro d u ctio n N u m b er O v en s
Y e a r B e e h iv e T o ta l tro m B y - in E x is t e n c e
P ro d u ctio n P ro d u ctio n P ro d u ctio n P ro d u c t O v en s B y -P ro d u c t B e e h iv e
1892 12,010,829
9,464,730 12,010,829
9,477,580 42,002
44,189
1893 12,850 0.1 12
1894 16,500 9,187,132 9,203,632 0.2 12 44,760
1895 18,521 13,315,193 13,333,714 0.1 72 45,493
1900 1,075,727 19,457,621 20,533,348 5.2 1,085 57,399
1905 3,462,348 28,768,781 32,231,129 10.7 3,103 84,405
1910 7,138,734 34,570,076 41,708,810 17.1 4,078 100,362
1915 14,072,895 27,508,255 41,581,150 33.8 6,268 93,110
1918 25,997,580 30,480,792 56,478,372 46.0 9,279 84,635
1919 25,137,621 19,042,936 44,180,557 56.9 10,379 82,560
1920 30,833,951 20,511,092 51,345,043 60.0 10,881 75,298
1925 39,912,159 11,354,784 51,266,943 77.9 11,290 57,587
1929 53,411,826 6,472,019 59,883,845 89.2 12,649 30,082
1932 21,136,800 651,900 21,788,700 97.0 13,053 19,440
1935 34,224,053 917,208 35,141,261 97.4 12,860 13,674
1936 44,569,121 1,706.063 46,275,184 96.3 12,849 13,012
August 2, 1937 19
Once beehive ovens U\e these were the only means of m akin g co\e in the United States. N othing but co k e was ob
tained, gas, tar and other products being wasted into the air. T h e by-product oven m ade possible reclaim ing great values from the coal and has generally replaced the beehive. All illustrations courtesy o f the K oppers Co., Pittsburgh
20 / T E E L
blend o f coal to produce coke w ith h ig h er carbon content.
T h e v alu ab le by-products recov ered in the re to rts include: G as, coal ta r, am m onia, lig h t oils, in cluding benzol and toluol, and naphthalene. Am ong th e new by
products developed is sodium pheno- late, output o f w hich w as first sig n ifican t in 1935, when 184,819 g a l
lons w as produced.
In th e m odern oven, fo r every ton
C o k e This Y e a r
(F iv e M o n th ) B y U. S. B u re a u o f M in es
1937 193G
N e t to n s N e t to n s B y -p ro d u c t o u tp u t. 2 1 ,666,213 1 6 ,9 2 6 ,8 8 9 B e e h iv e o u tp u t. . . . 1,550 ,1 0 0 5 8 0 ,7 0 0 C o al C h a rg e d :
In b e e h iv e o v e n s . 2 ,4 8 0 ,1 0 0 92 3 ,0 0 0 In b v -p ro d u c t o v
en s ... 3 1 ,1 2 6 ,9 9 6 2 4 ,376,164 B e n z o l p ro d u c tio n . . 51 ,3 9 1 ,0 0 0 4 0 ,7 4 2 ,0 0 0 A m m o n ia p ro d u c
tio n ... 34 6 ,7 9 4 26 8 ,2 0 9
of coal carbonized, 8 to 10 gallon s of ta r is produced.
I t is expected by som e by-product coke exp erts th a t 550,000,000 to 600,- 000,000 gallon s o f coal ta r m ay be produced this y ear, about 140,000,- 000 gallon s to be used in roadm ak- ing m a te ria ls and 120,000,000 gallon s in wood p reserv ation m a te ria ls.
M a teria ls recovered in th e by
product process a re used in dyes, perfum es, insecticides, d isin fectan ts, roofing com positions, p lastics, drugs, paints and num erous o th er products.
Som e 1500 out of 2000 com m ercial ch em icals m ade in th is cou ntry w ere never produced com m ercially b efo re the developm ent o f the m odern coke oven. I t h as been estim ated th a t a lm o st tw o-thirds o f th e com panies in th e sy n th etic org an ic chem icals industry a re engaged in th e manu-
(P lea se turn to P a g e 98) Batteries o f modern by-product ovens recently erected at a steelw orks, providing
coke for blast furnaces, gas and tar for fuel. T h e other by-products arc sold, reducing cost o f coke
tistics on the industry, and whose figures are used throughout th is a r ticle.
F ro m this inauspicious s ta rt, th e by-product process grew steadily, w ith th e W orld w a r providing the g re a te st im petus. In th e la tte r p art o f 1918, m onthly coke production surpassed beehive output fo r the first tim e. T h e beehive industry had reached its peak in 1916.
T h e w a r g re a tly increased the de
m and fo r the v alu ab le benzol prod
ucts, dye-stuffs, and oth er chem icals recovered. F ro m 1918 on, th e by
product process stead ily extended its predom inance over th e beehive industry.
In 1918 m ore than 36,500,000 net tons o f coal w as charged into by
product ov en s; in 1929 m ore th an 76.700.000 tons, and in 1936 m ore than 63,200,000 tons. In the first five m onths o f this y e a r m ore than 31.126.000 net tons w as charged, com pared with a total o f 24,376,164
tons in the corresponding period of la st year.
M ore than 71 per cent of the by
product coke is produced by fu rn ace plants, as shown in the follow ing ta b le in net tons:
F u r n a c e
— C o k e P ro d u ce d — P la n ts F u r n a c e O th e r P e r
P la n ts P la n ts c e n ta g e 1 9 1 3 .. 9 ,277,832 3,43 6 ,8 6 8 73.0
1 9 1 8 .. 19,220,342 6,777,238 73.9
1 9 2 6 .. 3 4 ,714,462 9,662,124 78.2
1 9 2 9 .. 4 1 ,224,387 1 2 ,187,439 77.2
1 9 3 5 .. 23,034,261 1 1 ,189,792 67.3
1 9 3 6 .. 3 2 ,076,089 12,493,032 72.0
L a st year, 26,014,701 tons of coke was consum ed in m erch an t b last fu rnaces. Consum ption o f coke fo r each ton o f pig iron produced has been reduced slow ly. In 1936, a c cording to th e A m erican Iron and S te e l in stitu te, 0.895-gross ton of coke w as used fo r each ton o f pig iron produced, com pared to 0.907- gro ss ton in 1929. T h is in crease is due la rg ely to exp erim ents by Kop
pers w hich developed the proper
Steel’s First-Half Profits Up 2 0 8 %;
Strikes Level O ff Second Quarter
L
A B O R d ifficulties in the second q u a rte r le ft th e ir im press on ste el’s financial picture fo r th a t period as revealed in earnings statem en ts la st week.T h e q u a rte r held to a high level, as a g eneral average, a g g re g a te net profits fo r 13 leading producers b e
ing $69,949,291, or $4,315,455 m ore than in the first q u arter. T h is show ing w as m ade despite th e b arrag e of strik es th a t afflicted consum ing as well as producing industries.
In detail, how ever, while it w as a rem ark ab ly good period fo r som e steelm ak ers, b est sin ce 1929 and e a rly 1930 as they point out, fo r others, chiefly those involved in the strik e, it w as disappointing.
A p artial effect o f the strik e is in
dicated in the ag g reg ate earn in g s of R epublic, S h e et & Tube and Inland am ounting to $5,687,746 fo r the sec
ond q u arter, as com pared w ith $15,- 461,858 in the first q u arter.
I t is in com parisons o f th e over
all net earn in g s in th e first h a lf of the y e a r w ith those in th e first h alf o f 1938 th a t th e sweep o f im prove
m ent, notw ithstanding the re ta rd ing influence o f labor troubles, is indicated. F o r exam ple, the a g g re g ate fo r the 13 producers, rep resen t
ing 85.7 per cent o f the nation’s in got capacity, w as $135,583,127, or 20S per cent higher than the $43,- 952,270 fo r the identical 13 produc
ers in the first h alf o f 1936.
H igher P rofits P e r Ton A ssum ing th a t the experience of these 13 w as typical, net profit on the basis o f 100 per cent ingot ca pacity w as $158,100,000 in the first h a lf th is year. T his is equal to net profit o f $5.50 per ton of ingots pro
duced by th e industry. A sim ilar com parison fo r the first h alf of 1936 show s a net profit of $2.42 per ton o f ingots produced in th at pe
riod.
R e latin g each com pany’s net e arn ings to its own ingot capacity, N a
tional S teel Corp. leads the list for the first h alf o f 1937. Its earnings are approxim ately equivalent to
$4.33 per ton. Inland Ste el is sec
ond, w ith $3.50. L a s t y ear in the
first half, Inland led w ith $2.61, and N ational w as second w ith $2.31.
United S ta te s S teel Corp.’s net earnings per ton o f its ingot capac
ity fo r the first h a lf th is y e a r is
$2.51, while in the first s ix m onths la st y ear it w as only 61 cents. F u r th er com parisons:
1937 1936
N a tio n a l S t e e l Corp . . . . 54.33 52.31 In la n d S te e l C o... 3.50 2.61 A lle g h e n y S t e e l C o... 2.97 1.99 A m e ric a n R o llin g M ill Co. 2.62 .95 U n ited S t a t e s S t e e l Corp. 2.51 .61 S h a ro n S t e e l C o rp ... 2.51 .47 Y o u n g sto w n S h e e t & T u b e
C o... 2.21 1.44 W h e e lin g S te e l C o rp ... 2.15 .50 O tis S te e l C o... 2.10 1.08 B e th le h e m S t e e l Corp 1.96 .43 C o n tin e n ta l S t e e l Corp. . . 1.91 1.16 J o n e s & L a u g h lin S te e l
C o rp ... 1.21 .05 R e p u b lic S t e e l C o rp ... 1.00 .50 F o r a l l ... 2.28 .74
E F F E C T O F S T R I K E IN S H E E T & T U B E S T A T E M E N T
N et profit o f Y oungstow n Sh eet
& Tu be Co. fo r the second q u a rte r am ounted to $2,022,112, a fte r all ch arges but w ithout deduction fo r
S te e l P r o d u c e r s ’ Financial Statem ents S u m m arized
United S ta te s Steel Corp...
Bethlehem S te el C orp...
R epublic S te el Corp...
Jo n e s & L au gh lin S te e l Corp..
Youngstow n S h e e t & Tube Co.
N ation al S te el C orp...
A m erican R o llin g M ill Co. . . . Inland S te e l Co...
W heeling S te e l C orp...
O tis S te e l Co...
A llegheny S te el Co...
S h a ro n S te e l Corp. ...
C o n tin en tal S te e l C orp...
Second F ir s t Second
Q u arter Q u arter Q u arter
1937 1937 1936
$36,173,682 $28.561.533 $12,862,423 10,022,874 8,293,833 3.431,391 487,251 5,567,064 2,661,062 2,451,976 1,982,394 1,115,733 2,022,112 4,886,020 2,588,089 6,013,077 5,695,819 2,805,570 4,321,854 2,320,917 1,561,162 3,178,383 5,008,774 3,298,191
2,463,034 1,308,807 871,277
1,040,424 702,396 751,674
834,449 551,054 610,805
655,000t 475,778 268,336
255,175 279,447 238,389
F ir s t F ir s t In g ot
H alf H a lf C ap acity
1937 1936 g ross tons
$64,735,215 $16,238,727 25,772,400 18.316,707 4,034,456 9,360,000 6,054,315 3,022,094 6,053,000
4,434,370 182,454 3,660,000
6,908,132 4,485,388 3,120,000 11,708,896 5,182,714 2,700,000 6,642,771 2,305,064 2,531,120 8,187,157 5,232,823 2,340,000
3,771,841 882,199 1,750,000
1,742,820 900,349 828,000
1,415,503 947,769 476,000
1,130,778t 212,615 450,000
534,622 325,618 280,000
T o tals ...$69,949,291 $65,633,836 $33,064,102 $135,583,127 $43,952,270 59,320,520 F IN IS H IN G C A P A C ITY O N LY
Acm e S te e l Co...
Su p erio r S te e l C orp...
669,441 1,094,941 513,774 1,764,382 905,627
120,648 86,120 58,726 206,768 87,814
572,835 372,202 48,978* 945,037 31.677*
33,125* 29,708 * 60,508* 62,833* 81,955*
P IG IR O N C A P A C IT Y O N LY
In te rla k e Iro n C orp 572,835 372,202 48,978* 945,037 31.677* 1,215,000
V irg in ia Iro n , Coal & Coke Co 33,125* 29,708 * 60,508* 62,833* 81,955* 200,000
*L oss. tE stim a te d .
August 2, 1937 21
federal su rta x on undistributed profits. T h is com pared w ith a net profit of $4,886,020 fo r the first q u a rte r o f 1937, and $2,588,089 fo r the second q u a rte r o f 1936. F ran k Purnell, president, said:
“T h e second q u a rte r drop in e a rn ings reflects loss o f production cau sed by the strik e. O perations during the second q u a rte r w ere at the av erage ra te o f 57.6 per cent, as com pared to an average of 86.7 in the first q u a rte r.”
R E P U B L IC 'S SECO N D Q U A R T E R P R O F IT DOW N TO $187,251
Consolidated net profit of R e public Ste el Corp. and subsidiaries fo r the second q u a rte r of 1937 a fte r deduction o f all charges, including estim ated fed eral incom e ta x and s u r ta x on undistributed profits, am ounted to $487,251. N et profit fo r the first h a lf o f 1937 am ounted to
$6,054,315, com pared w ith a net profit o f $3,022,094 fo r the first h alf o f 1936.
T h e provision fo r estim ated fed
e ra l tax fo r the six m onths’ period ended Ju n e 30, 1937 w as $2,400,000, including $950,000 fo r estim ated su r
ta x on undistributed profits.
The com pany’s statem en t adds:
“The su b stan tial rate of opera
tions and earn in gs of the corpora
tion w as interrupted by the steel strik e, w hich affected the principal p lan ts.”
IN L A N D S T E E L D E C L A R E S E X T R A D IV ID E N D
Inland S te e l Co. declared an ex tra dividend of 50 cents and a regu lar q u arte rly dividend o f $1, both pay
able Sept. 1 to sto ck of record Aug.
13. L ik e am ounts w ere paid Ju n e 1 fo r first qu arter.
Second q u a rte r earn in gs w ere $3,- 178,383, com pared w ith $5,008,774 in the preceding q u a rte r and $3,298,191 in the Ju n e q u arte r la s t year. In the first six m onths th is y e a r earnings totaled $8,187,157 ag ain st $5,182,714 in the period a y ear ago.
Inland, w ell know n fo r efficient production, chalked up a new op erat
ing record sin ce resum ing Ju ly 1.
T h e 76-inch hot strip m ill crew pro
duced 1677 tons in an 8-hour sh ift.
In lan d ’s 13,000 men cam e b ack a fte r th e recent strik e to put th e m ill in cap acity operation once m ore, w ith a rem ark ab le sp irit o f pride in w orkm anship.
B E T H L E H E M ’S Q U A R T E R B E S T S IN C E F I R S T IN 1930
B ethlehem S te e l Corp. d irectors la s t week declared a dividend of
$1.50 per sh are o f com m on stock, plus $1.75 on 7 per cent and 25 cents on 5 per cent p referred sto ck . T h is paym ent w as based on net income
fo r the second q u a rte r of $10,022,- 874, equal to $2.56 per sh a re of ou t
standing com m on stock, best since the first q u a rte r o f 1930.
F o r the first q u a rte r of 1937 net incom e w as $8,293,833, and fo r the second q u arter o f 1936, $3,431,391.
F ir s t h alf earnings o f $18,316,657 this y e a r com pare w ith $4,034,456 in the period la st year.
P resid ent E ugene G. G race said B ethlehem spent ap p roxim ately $25,- 000,000 on new constru ction during the first h alf of 1937, w ith an addi
tional $23,000,000 authorized b u t un
expended. L a s t w eek the new m ill fo r production o f cold reduced tin plate w ent into opei'ation a t S p a r
row s P oint, Md., w ith a m onthly capacity o f 15,000 tons.
O ther im provem ents a t Sparrow s P oint, including a 56-inch continu
ous hot sh eet and strip m ill, are scheduled fo r in itial operation in N ovem ber. M ost o f the unexpended construction funds will be used at Sp arrow s P oint, M r. G race said.
B ethlehem paid w ages to 101,989 em ployes during th e second q u arter, a g ain st 73,603 in th e sam e period la s t year. A verage em ploye e a rn ings per hour, exclusive of selling and ad m inistrativ e expenses, w ere 89.1 cents, ag ain st 70.8 in 1936.
W eekly w orking hours averaged about 41.
U. S. S T E E L W IP E S OUT P R E F E R R E D A R R E A R A G E S
All a rre a ra g e s on United S ta te s Ste el Corp. p referred stock, which am ounted to $18.25 a sh are less than a y ear ago, w ere liquidated la st w eek when directors declared a dividend o f $1.25 on accou nt o f accum ulations, in addition to th e reg u larly q u a rte r
ly dividend o f $1.75. No action w as taken on com m on sto ck on which dividends have not been paid since M arch, 1932.
N et incom e in the second q u arter was $36,173,682, equal to $3.43 a com mon share, la rg e st sin ce the first q u a rte r o f 1929 when net w as $42,- 185,447. T h is com pares w ith $28,- 561,533, or $2.55 a com m on share, in the first q u a rte r o f 1937, and $12,- 862,423, or 75 cents on com m on, in the second q u arte r o f 1936. N et in
com e fo r the first h a lf o f 1937 am ounted to $64,735,215, again st
$16,238,727 in th e corresponding pe
riod la st year. F u rth e r details are given in an accom panying table.
O perations in the second q u arter as m easured by finished product out
put averaged 88.4 per cent. F o r the first six m onths this y ear shipm ents totaled 7,614,274 tons, being a t the ra te o f 85.2 per cent o f capacity.
T h is is the highest point reached sin ce the first h a lf o f 1929, w hen shipm ents w ere m ade o f 8,340,738 tons, or 98 per cent a t th at tim e.
D uring the first half, expenditures
m ade fo r additions and b etterm en ts and fo r paym ent o f m atuxing bonds and other cap ital obligations o f sub
sid iary com panies, am ounted to ap
p roxim ately $53,600,000. Ju ly 1 un
expended balances fo r additions and b etterm en ts on authorized appropi’ia- tions m ade to th a t date stood at about $153,000,000.
In Ju n e ap p roxim ately 272,000 em ployes w ere carried on the payi'oll, a to tal well in excess o f the num ber reached in the high 1929 period. The av erag e num ber o f em ployes in the first h a lf w as 257,168, or 23.6 per cent m ore th an in the fli-st h a lf o f 1936, w hile th e to tal payi'oll w as
$229,676,854, up 50.3 per cent.
A RM CO ’S F I R S T H A L F B E T T E R TH A N A L L 1929
Consolidated second q u arte r net eai’nings o f $4,321,854, h ig h est of any q u a rte r in th e com pany’s his- toi'y, a re reported by the A m erican R ollin g M ill Co.
T his is equal to $1.50 a shai’e on the 2,868,513 com m on sh a re s ou t
standing, a fte r a ll ch arg es except provision fo r fed eral undistributed profit tax es. In th e second q u a rte r la st y e a r the com pany earned $1,- 561,161, w hich am ounted to 68 cents a com m on shai’e.
N et eai’nings fo r the first half, to talin g $6,642,770 also established a new record fo r any six-m onth period, and exceeded net earn in g s fo r th e entii’e y e a r of 1929. A fte r provision fo r p re fe ired dividends this is equ al to $2.30 a com m on sh are fo r the h alf.
P ay i’olls fo r th e first h alf also set a new all-tim e record, 18,000 em ployes receiving S16,775,000.
N A TIO N A L M O R E THAN D O U B L E S I T S E A R N IN G S
N ational S te el Coi'p. rep orts its net incom e a fte r all chax’ges, except fed eral su rta x on undistributed p ro f
its, fo r second q u a rte r am ounted to
$6,013,076, equal to $2.77 a sh are on 2,167,777 ou tstand ing sh ares o f cap ital stock. T h is com pares w ith $2,- 805,570 in th e second q u a rte r o f 1936, equal to $1.30 a sh are on 2,156,977 sh ai’es then outstanding.
N et profit fo r the first h a lf is $11,- 708,896, equal to $5.40 a share, ag a in st $5,182,714, equal to $2.40 a shai’e, fo r the period la st year.
O T IS D IV ID E N D ON C O N V E R T IB L E ST O C K
O tis S te el Co. d irectors declai'ed a dividend o f $1.37 H a sh are on con
vertible first p referred stock, pay
able Sept. 15 to record o f Sept. 1.
A dividend o f $1.3714 a sh are also was declared on th e convertible first pi-eferred s to ck payable Sept. 15, w hich m ay a t any tim e subsequent to Sept. 1 be issued upon su rrend er o f ou tstand ing p rior pi’eferen ce
/ T E E L
Hearings on Scrap Embargo Bills Postponed to January
stock, pu rsuant to the plan of recap italization previously approved by sharehold ers, w hich provides th a t in exchange fo r each sh a re of prior p referen ce s to ck th e re would be is sued 1.28 sh ares o f convertible first p referred sto ck and one-half sh are of com m on. On th e convertible first p referred sto ck issued in th is e x change th e re is th ere fo re accu m u
lated as o f Sept. 15 a dividend of
$8.25 in addition.
D irecto rs also extend tim e to Sept.
30 fo r th e exchange o f p rior p re fe r
ence sto ck p u rsu ant to th e plan of recap italization o f the com pany de
clared operative on Dec. 3, 1936.
W H E E L IN G Q U A D R U P L E S L A S T Y E A R ’S F I R S T H A L F
W heeling Ste el Corp. rep orts sec
ond q u arte r net profit of $2,463,034, com pared w ith $1,308,807 in th e first qu arter. E a rn in g s in the Ju n e q u a rte r w ere equal to $4.87 a share on com m on sto ck a fte r q u arte rly di
vidend requ irem ent on the 6 per cent preferi'ed, on which th ere are accu m ulated dividends o f $24. F o r first h a lf its profit w as $3,771,841, equal to $6.77 a sh a re on com m on, ag ain st
$882,199 or $2.31 a sh are la st year.
W O R TH IN G TO N ’S U N F IL L E D O R D E R S L A R G E S T IN 17 Y E A R S
Unfilled orders o f W orthin gton Pum p & M achinery Corp. on Ju ly 1 w ere 81 per cen t g re a te r th an on th a t date la st year, and w ere a t th e high
e st level in 17 years, H. C. B eaver, president, announced.
I
T I S a g re a t m istake to regard scrap steel as ju n k . T ech n ically it is a precious m etal and con
stitu te s about 60 per cen t o f the raw m aterial requ irem ents of the steel industry.”
S en ato r B ridges, New H am pshire, m ade this statem en t to a subcom m ittee o f the sen ate com m ittee on m ilitary affairs, a t a h earing last T hu rsd ay on the bills pending in the sen ate to prohibit iron and steel scrap exports except by license.
P roponents o f the various bills, represented by L ou is J . B ran n , fo r
m er governor of M aine, and oppon
ents o f the bills, represented by B en ja m in Schw artz, d irector g eneral of the In stitu te o f Scrap Iro n and Steel Inc., inform ed the com m ittee that they w ere not ready to go ahead with th eir testim ony a t this tim e.
T h e com m ittee F rid ay deferred hearings until n ext Ja n u a ry so th at both sides m ay have am ple tim e in w hich to prepare th eir cases.
Sen ato r Thom as, U tah, acted as chairm an. Am ong others who ap
peared Thu rsday w ere: Sen ators S c h w e l l e n b a c h , W ash in g ton ; Schw artz, W yom ing; R ep resentative Kopplem ann, Connecticut; and Dr.
J . C. M aguite, New Y ork, who said he represented Chinese scrap im porters.
S e n a to r Schw ellenbach, who in
troduced th e orig in al resolu tion ca ll
ing fo r a prohibition o f steel scrap exp o rts excep t th rou gh license, told the com m ittee th a t during the past Ja n u a ry and F e b ru a ry he had re ceived m any com m unications from sm all foundries in the s ta te of W ashington com plaining th a t larg e am ounts o f scrap w ere being pu r
chased fo r exp o rt to fo reig n coun
tires. T h is, he contended, caused the price to increase and he w as in
form ed th a t it also caused a sh o rt
ag e o f scrap. T h e bill w as in tro duced, he stated , w ithout any con
clusions in the m a tte r on his part.
E x cessiv e E x p o rts D angerous S e n a to r B rid g es, who introduced a resolution w ith S e n a to r B e rry ask in g fo r a study o f scrap and iron ore resou rces said :
“T h e policy th at this cou ntry should pursue in the m a tte r o f ex ports o f scrap steel and iron is o f national im portance and has in te r
national com plications. . . . A con
tinual drain on any such n atu ral resource is a d anger to the country.
In the case o f scrap steel and iron it is a double danger becau se we m ay g et the sam e steel and scrap back on our hands som e day, and if th a t sounds g rin g o istic perhaps I had b etter s ta te th a t ou r continuous trem endous exp o rts are nothing m ore than an encou ragem ent to war.
“In the 11 y ears fro m 1923 to 1933 ou r exp o rts o f scrap iron and steel averaged less th an 300,000 tons a y ear, while during the la st six- m onths we have exported n early seven tim es as m uch as we shipped in any one o f those norm al years.
A t th a t ra te if no re strictio n is placed on the exp ort o f scrap iron and steel we will send abroad this y ear m ore than we exported in all of th o se 11 years. T h is is an e x port o f a basic m a terial fo r w ar, and over 50 p er cen t o f th is exp ort is going to one fo reig n cou ntry.
“T h e fa c t th a t scrap m ight be said to be th e raw m a terial o f w ar is not alone the reason th a t this problem today dem ands ou r study.
T h e fo reig n nations who export scrap m a n u factu re oth er m aterials than scrap, using cheap labor and perhaps hav ing access to cheap er tran sp ortation . T h e y a re able to e x port th e ir finished product to the United S ta te s and th u s sell our own C am era C atches S pirit of Pittsburgh
J N T H E foreground are Jones & Laughlin's Eliza blast furnaces, on the north side of the M onongahela river. T h e hot metal bridge is in the center of the illustration, and at the left is the glare from a J & L bessem er converter.
T h e Boulevard o f the Allies and downtown Pittsburgh stretch across the back
ground
August 2, 1937 23
scrap rig h t back to us in a different form in such a w ay as to com pete with the products of A m erican in
dustry and A m erican labor in its own m arket.
“W ithout scrap exports fro m us the sh ortag e abroad would fo rce a rise in the price o f those m aterials in the p u rchasing country, which would cau se a rise in price o f the finished product to a point m ore nearly equal to th a t of the A m erican made product.
E xp o rts M ake W ar P ossible
“T h e position o f the navy in this m a tter should be considered. I un
derstand th at the navy does not sell fo r export its obsolete ships.
I f th a t is tru e then we should be ad
vised o f the reason. T h e sam e ap plies to used arm y m aterials.
“As we look around us we see w ar on every side. Spain, m arch ing men in middle E u rop e and thundering guns in the O rient. I t is not the study o f these things th a t I ask but it is th e study o f an A m erican product w hose exp ort m akes these things possible.”
R ep resen tative Kopplem ann, who has introduced two bills in the house som ew hat sim ila r to the sen ate bills, made a sh o rt sta te m e n t in which he said he w as not interested from an econom ic standpoint but fro m the point o f w h eth er the United S ta te s will aid oth er cou ntries in p rep ara
tion fo r w ar.
He contended th a t the scrap now being exported is used fo r w ar pu r
poses.
Kopplem ann said th at the export of scrap steel is only about 6 per
cent o f the scrap bought and sold.
He proposed th a t only the scrap be em bargoed which is fo r w ar pu r
poses and said th a t if 60 p er cen t of the 6 per cen t exported is used fo r w ar purposes it would m ean th at only 4 p er cen t would be em bargoed.
He asked the com m ittee fo r an investigation by the fed eral trad e com m ission or the m unitions board instead o f by congress, saying these fa ct finding bodies have m ore tim e.
G overnor B ran n m ade a su g gestion o f a possible quota system , based on exports over a period of years. He stated th a t th e United S ta te s is the only cou ntry allow ing unrestricted scrap exports.
D r. M aguite made a b rie f s ta te m ent and asked to be heard later.
T h e com m ittee then adjourned.
R ep resen tative Craw ford, M ichi
gan, introduced a jo in t resolution in the house la st w eek providing th at w henever the P resid en t sh all issue a p roclam ation under the neu trality law declaring an em bargo on exp o rt of arm s, am m unition or other im plem ents o f w ar th a t he shall in clude scrap iron and pig iron, in addition to other item s alread y enum erated in the P resid en t’s proc
lam ation o f A pril 10.
Plant and O ffic e Forces O n V a c a tio n at Same Tim e
T h e en tire plant fo rce and general office staff of W arn e r & Sw asey Co., Cleveland, began th eir annu al two- w eeks’ su m m er holiday period at
m idnight la st Frid ay , under a new plan w hich th is y e a r g ran ts v aca
tions w ith pay to 82 per cen t of the com pany’s em ployes.
V acation provisions ran g e from fo u r days w ith pay fo r em ployes with eight to 12 m onths o f service, to two w eeks fo r those w ith m ore than th ree years o f service.
T h e shops will be cleaned and painted and inventory taken b efore operations are resum ed Aug. 16.
$356,741 V A C A TIO N P A Y
V acation pay am ounting to $356,- 741 w ill be distributed th is y e a r to m ore than 10,000 em ployes o f W eir- ton S te el Co. P resid en t T . W . Mill- sop said 75 per cent o f th e w orkers would spend $260,424 on vacations and the rem ain d er would pocket the m oney and sta y on the jo b.
Strikes O f f at M in e s , 8 0 0 0 Return to W o r k
S trik e s a t the m ines o f B ethlehem S te el Co. and Y oungstow n Sh eet &
Tu be Co. w ere called off Ju ly 24 and la st w eek som e 8000 m iners r e turned to the pits. F ir s t to reopen w as Y oungstow n’s B u ckeye m ine at N em acolin, P a., w here 1000 m en r e turned la st W ednesday. W ork also w as resum ed a t B eth leh em ’s m ines in D akota, B arra ck v ille and R ich ard, W . Va., and a t Y ou ngstow n’s m ine a t Dehue, W . Va., and other properties o f the com panies.
M eanw hile, althou gh th e strik e at the R epublic S teel Corp. m ines had n ot been canceled, operations con
tinued uninterrupted.
F ed eral m ed iators sou ght to end the dispute w hich resulted in the closing o f the p lant of the Heppen- sta ll Co. at Law reneeville, P a.
G reen Urges W a g e -H o u r B ill, D espite D isapproval
T h e w age-hour bill under discus
sion in the sen ate ran into consid er
able controversy la st F rid ay . M is
understanding concerning the A m er
ican F ed eratio n of L a b o r’s position was p artly cleared when P resid ent W illiam G reen m ade this statem en t:
“T h e bill in the fo rm in w hich it is now b efore the sen ate does not m eet the exp ectations o f labor.
However, we recognize the need fo r the en actm en t o f w ages and hours legislation.
“F o r th at reason, ra th e r than re com m it the sen ate bill fo r fu rth e r com m ittee consideration, it would seem advisable to pass the b est w ages and hours bill possible in th e sen ate, w ith the hope th a t it can be revised and amended in the house, in such a w ay as to m ake it m ore nearly s a tisfa cto ry to labor.”
U ltra-m od ern Bar of Stainless S t e e l, Illum inated
^ H E A T H E D in stainless steel, this bay in the H olyo\e (Mass.) hotel glistens hl(C silver. Soft, indirect lighting changes continually in color and intensity in all three tiers which form the face. T he designer is William Wit hill,
H olyoke sheet metal w orker. American Rolling Mill Co. photo
24 / T E E L
P ro d u c tio n
District Steel Rate U. S. Steel Sells
H
IG H E R ra te of operations at Cleveland, Youngstow n, C hicago and eastern Penn sylvania, brou ght th e national ra te up 3 points to 84 p er cent o f capacity.
R esu m ption o f N ational T u be Co.
plant a t L o rain , O., w as a fa c to r in the im provem ent.
Y ou ngstow n— Up 2 points to 80 per cent, w ith schedules fo r the sam e ra te during th e cu rren t week.
A ctive b last fu rn aces num ber 21, b essem er conv erters th ree and open h earth s 71. C arnegie-Illinois Steel Corp. w ill blow in No. 5 b last fu r
nace a t its Ohio w orks Aug. 9.
C entral e a ste rn seaboard — Up 1 point to 70 per cen t on slig h tly a c celerated activ ity am ong sm alle r in dependents.
C hicago— In creased 1 point to 85 per cent, w hich is only 1 point be
low the b est ra te o f th e year. Most m ills a re a t cap acity ; 32 o f 39 blast fu rn aces are in.
C incinnati— U nchanged a t 93 per cent, w hich is scheduled fo r the cu r
re n t week.
D etro it— O ff 3 points to 92 per cent, two open h earth s being down fo r rep airs m ost o f week.
B u ffalo — U nchanged a t 88 per cent, m aking Ju ly one o i the best in th e d istrict’s history.
Cleveland — R esu m ption o i pro
duction by N ation al T u be Co. a t its L o rain , O., p lant and b etter activity by p lan ts in Cleveland have brou ght th e ra te up 31 points, to 82 p er cent.
T h is is th e sam e as the w eek of M ay 22, ju s t b efo re labor difficul
ties started , a t the b est level o f the year.
New E nglan d — Unchanged a t 90 per cent. R ep airs to open h earths will b ring a drop to 65-70 per cent th e w eek o f Aug. 2.
P ittsb u rg h — U nchanged at 83 per cent, w ith the leading in te re st at about 85 p er cen t and the leading independent about 82. Carnegie- Illin ois S te el Corp. is blow ing in No. 2 b la st fu rn ace a t C lairton, add
ing about 500 tons a day to C la ir
ton iron production. T h e fu rn ace w ent out o f b last A pril 10, 1930.
W heeling — O perations rem ain unchanged a t 92 p er cen t o f cap acity as m ills w ork off accum ulated b ack logs.
S t. L ou is — Down 13 points to 80 per cen t a fte r six w eeks a t 93 p er cent. An E a s t Side m ill has closed th ree open-hearth fu rn ace s and one or tw o m ore are scheduled to be ou t w ithin a fo rtn ig h t.
B irm in gh am , A la. — U nchanged a t 96 p er cent w ith all m ills at capacity.
P e r c e n ta g e o f O p e n -H e a rth I n g o t C a p a c ity E n g a g e d in L e a d in g D is tr ic ts
W ee k S a m e
ended w eek
J u l y 31 C h a n g e 1936 1935 P it ts b u r g h . . 83 n on e 69 41
C h ica g o . . . . 85 + 1 71 52
E a s te r n P a . . . 71 + 1 5 0 ‘.4 31%
Y o u n g sto w n . 80 + 2 78 53
W h e e lin g ... 92 n one .92 76
C le v e la n d . . . 8 2 + 3 1 82 54
B u ffa lo ... 88 n on e 81 37
B ir m in g h a m . 96 n one 58 31%
N ew E n g la n d 90 n one 78 25
D e tr o it ... 92 — 3 100 94
C in c in n a ti . . 93 n one 76 t
S t . L o u is . . . 80 — 13 t t
A v e ra g e . 84 + 3 7 1% 47
tN o t re p o rte d .
Canada Increases First H a lf Iron, Steel O u tp u t
Canada produced 118,744 tons of s teel ingots and castings in Ju n e, sligh tly less than the 120,843 tons made in May, but fa r g re a te r than th e 82,196 tons produced in Ju n e, 1936. Ju n e pig iron production was 78,278 tons, com pared w ith 68,138 tons in M ay and 56,362 tons in Ju n e, 1936. F erro allo y output was 2635 tons, a sharp drop from 5965 tons made in May and 5307 tons in Ju n e, 1936.
F o r the first s ix m onths steel ingot and castin g production was 713,177 tons, com pared w ith 578,700 tons in the corresponding m onths of 1936. P ig iron production fo r six m onths totaled 423,944 tons, com pared w ith 340,335 tons in the first six m onths o f 1936. F erro allo y pro
duction in six m onths of 1937 was 30,856 tons, com pared w ith 30,550 tons in the sam e period of 1936.
A t the end o f Ju n e, six b last fu r
naces w ere active, w ith daily capac
ity o f 2525 tons, 64 per cent o f capac
ity.
G overnm ent Expenses
$ 1 7 B illion in 1 9 3 6
T o ta l expenditures of all govern
m ental units in the United S ta te s in 1936 w ere approxim ately $17,000,000,- 000, according to the N ational In d ustrial Conference board.
T his figure represents an approxi
m ate increase of $2,069,000,000 over the $14,931,000,000 spent in 1935, the la te s t y ear fo r w hich com plete in
form ation is available. In 1934 ex penditures w ere $14,449,000,000.
Fed eral spending totaled $8,576,- 000,000 in 1936, an increase o f $1,732,- 000,000 over 1935. T h e rise resulted chiefly from soldiers’ bonus pay
m ents o f $1,673,000,000.
Canadian Plants
C
O M P L E T IO N of an ag reem en t fo r pu rchase o f fo u r Canadian subsid iaries of the United S ta te s S te el Corp. w as announced last w eek by D om inion S te el & Coal Corp., M ontreal, Que. T h e com panies ai-e th e Canadian S te e l Corp Ltd., C anadian B rid g e Co. Ltd., E s se x T erm in al R ailw ay Co. and Canadian S te e l L and s Ltd.F o r these properties th e Dom inion S te el & Coal Corp., which fo rm erly w as the B ritish E m p ire S te el Corp.
and op erates properties a t Sydney and T rento n, N. S., M ontreal, and S t. Jo h n , N. B ., and the W abana iron ore m ines in Newfoundland, is handling the U nited S ta te s S teel Corp. bonds and debentures secured by these properties.
In 1913, when the ta riff on im ports of iron and steel fro m the United S ta te s to Canada w as unfavorable, the S teel corporation form ed its Canadian subsid iary and undertook to build up an in tegrated property a t O jibw ay, Ont., on th e D etroit river, ju s t below D etroit. I t com pleted a larg e slip and sh ells o f two b last fu rn aces b u t no o th er iron and steelm ak in g equipm ent.
In the finishing end, cap acity w as installed fo r draw ing 15,000 tons of plain w ire, 9000 tons o f galvanized wire, 1800 tons o f barbed w ire, and 18,550 tons of w ire fen cin g annu ally;
also som e cap acity fo r coating tin and tern e plate and galvanized sheets.
T h is construction w as larg ely un
der the direction of W ard B. P erley, as president o f the Canadian Steel Corp.
W hen Canada m ade changes in its ta riff stru ctu re, the expansion pro
g ram a t O jibw ay w as suspended.
J . W . Seens, who succeeded M r.
P erle y as president, died la s t Ja n . 25 and no su ccesso r w as appointed.
Confirm s Sale to Bethlehem O f W illia m s p o rt W ir e Rope
An order confirm ing the sa le of W illiam sp o rt W ire R ope Co., W il
liam sport, P a., to B eth leh em Steel Co. fo r $3,300,000 w as signed last w eek by fed eral ju d g e A lbert W . Jo h n so n a t L ew isburg, Pa.
Stockholders who protested the p u rchase price have ten days in w hich to file an appeal. T h ey de
clared th e sale would pay off only m o rtgage in te re st and o th er in
debtedness bu t would leave nothing fo r them .
August 2, 1937 25
A len
G
F . A H L B R Â N D T and W. W.Lew is have been appointed assista n t vice presidents, A m erican R olling Mill Co., Middle
town, O., and H. M. R ich ard s has been appointed m anager of the sh eet and strip sales division.
M r. A hlbrandt joined th e com pany in 1904 as chem ist in the open-hearth departm ent. He la te r becam e a s sistan t superintendent of open hearths, and in 1909 entered sales w ork, ultim ately becom ing general m an ag er of sales.
M r. Lew is joined the com pany in 1917 as a ssista n t superintendent, open hearths. In 1922 he took up sales w ork and in 1925 w as made m an ager of the London branch of Arm co In tern ation al Corp. R e tu rn ing to this country in 1927 he w as named assistan t to the vice presi
dent in ch arge of com m ercial a c tivities.
M r. R ich ard s has been identified w ith th e com pany sin ce 1913, b e ginning as a clerk in th e order de
p artm en t and la te r becom ing a s sista n t m an ag er o f th at departm ent.
In 1916 he w as made a salesm an and in 1924 w as appointed d istrict m ana
g er o f the Cleveland office, rem ain ing th ere until 1931 when he w as appointed a ssista n t general m ana
g e r of sales.
♦ ♦ ♦
Neal J . C rain has been appointed purchasing agen t of United E n g i
neering & Fou nd ry Co., P ittsb u rg h . He was fo rm erly a ssista n t to G. W al
te r Sanborn, who continues as vice president in ch arg e of purchases
N ea l J . C ra in
and traffic. M r. C rain has been with the com pany over 20 years, except fo r a period during the W orld w ar.
♦ ♦ ♦
Owen C. Jo n e s has been appointed a ssista n t to president and in ch arge o f sale s prom otion, L am inated Shim Co. In c., L ong Islan d City, N. Y.
Mr. Jo n e s fo r the p ast six y ears had been associated w ith the general publicity d ep artm ent o f Linde A ir Prod ucts Co., New Y ork , a un it of Union Carbide & C arbon Corp.
♦ ♦ ♦
C lark M. R obertson, M ilw aukee, has been elected a d irector and p resi
dent, F e d e ral S teel Sash Co., W au ke
sha, W is., to succeed C harles J . M c
In to sh , who died Ju ly 22. M r.
R ob ertson w as personal a tto rn ey fo r Mr. M cIntosh and rep resen ts his estate. R . E . H uppert, p resen t sec
re ta ry and tre a su rer, has also been elected g eneral m anager.
♦ ♦ ♦
C. S. Munson, vice president, has been elected president of A ir R edu c
tion Co. Inc., New Y ork. H e su c
ceeds C. E . Adams, who h as been elected ch airm an and who w ill r e m ain in gen eral ch arg e of all op
erations o f the com pany. F . B.
Adams, fo rm erly chairm an, has been elected chairm an o f the executive com m ittee.
A. R . Ludlow, fo rm erly first vice president, has been nam ed vice chairm an of the board, while C.
D’ W . Gibson has been made vice president in ch arg e o f sales. W . C.
K eeley, fo rm erly a ssista n t vice p res
ident, has been elected vice p resi
dent.
ZPiect:
M
A J. R O B E R T A L E X A N D E R B U L L , foundry consu ltant, C hicago, Ju ly 29, in A nniston, Ala.He w as a past president and honor
ary m em ber, A m erican Foundry- m en’s associatio n ; past research di
rector, E le c tric S te el Fou nd ers R esearch group, and a leading per
son ality in the foundry industry fo r m any years.
M a jo r B u ll w as born in New A l
bany, Ind., Ju n e 28, 1874. He a t
tended Depauw university, Green- castle, Ind., and la te r w as graduated fro m B u tle r university, Indianapolis, w ith the b ach elor o f a rts degree.
Su bseq u ently he received the degree o f m aste r o f a rts fro m S t. L ou is un iversity.
He held im p ortant positions with the L eighton & Howard S te el Co., E a s t S t. Louis, A m erican S teel Found ries, Com m onw ealth Steel Co., Chicago S te el F ou nd ry Co., being vice president and general m an ager fo r the la st tw o firm s. He was com m issioned a m a jo r in the ordnance departm ent, U nited S ta te s arm y and served in th e division of construction and m aintenance of the A .E .F . He w as the au th or o f m any technical papers.
♦ ♦ ♦
W illiam C. S tettin iu s, 41, a d irec
to r of W orthin gton Pum p & M a
chinery Corp., H arrison, N. J., and oth er organizations, in B altim o re, Ju ly 20. He w as the son o f the late Edw ard R . Stettin iu s, fo rm e r as
sista n t secreta ry o f w ar and p artn er of J . P. M organ & Co. M r. Ste ttin iu s was a captain in the arm y during the W orld w ar and w as wounded tw ice in F ra n ce .
♦ ♦ ♦
F ra n k D. Chase, 60, a rch ite ct and sp ecialist in indu strial p lant design and construction, a t his hom e in E vansto n, 111., Ju ly 23. A grad uate o f M assach u setts In stitu te o f T e ch nology, sin ce 1913 he had been p res
ident o f F ra n k D. Chase Inc., Chi
cago. F o r sev eral y ears M r. Chase w as a rch ite ct fo r the W estern E le c tric Co., Chicago, la te r serv in g in the sam e capacity fo r th e Illin ois
I I . M . R ic h a r d s G. F . A h lb ra n d t XV. XV. L e w is
26 / T E E L
