SUPPLIES OF STEEL

Timaru Herald, Volume CXLIII, Issue 20669, 6 March 1937, Page 17 (Supplement)

SUPPLIES OF STEEL

SEQUEL TO CONCESSIONS TO LABOUR United Press Association—By Electric Telegraph—Copyright (Received March 5, 11.15 p.m.) NEW YORK, March 5. Mr William Irvin, president of the United States Steel, announced advances ranging from three to eight dollars a ton, in steel prices, to meet the increasing costs of production, including wage increases and the rising cost of supplies of raw materials. The entire steel industry is expected to make similar increases immediately. The new prices are slightly higher than those in 1926, which was the best normal year in steel history. Navy’s Demands Unsatisfied Meanwhile, at Washington, Mr Vinson, chairman of the Naval Affairs Committee of the House of Representative alleged that Miss Frances Perkins (Secretary of Labour) was responsible for the Navy’s inability to obtain copper and steel. In the course of a debate on the 526,000,000-dollar Naval Supply Bill, Mr Vinsen said that Miss Perkins refused Senator Swanson's request to grant as exemption which was discretionary under the Walsh-Healey Act and contended that she lacked the technical knowledge to enable her to decide Navy questions. Big Votes for Construction The total appropriation of 35,000,000 dollars is less than the Budget Estimates for construction, due to the Navy’s failure to maintain the construction programme.