CHART 18.-Wage rates versus steel prices, United States Steel Corp. and subsidiaries-Continued Source: Corporation Records and Iron Age Finished Steel Composite Price (Revised in issue of Jan. 5, 1950 p. 167). Since 1940 the base prices of steel products have lagged behind steel wage rates. While steel prices were under OPA controls they remained unchanged for the first 4 years, but wage rates were allowed to advance twice. Following the war, wage rates were increased three times. Price increases thereafter were made but the prewar relationship was not reestablished. The composite base prices do not include changes in extras and deductions which are reflected in the prices paid by customers. EXHIBIT S-248 CHART 19.-The small part of steel in the price of finished products—Typical products of important steel-consuming industries 1.6 $8,000-$10,000.. $370.... 4. 1 4.5 4.8 5.5 5.9 Remarks 9.2 2-slice automatic toaster. Cost of steel Medium farm tractor with standard Single tub wringer-type washing machine. Cost of steel includes electri cal sheets in motor. 8-cubic-foot refrigerator. Includes elec trical sheets in motor. Total weight of steel is about 225 pounds. 4-burner, medium-priced gas range weighing about 260 pounds. Cost of steel is for sheets, strip, bars, and pipe. "Average" 4-door automobile. Weight of steel is about 3.500 pounds. Selling price is estimated delivered price. Average price of No. 2 can of corn, peas, or tomatoes, December 1949. Cost of steel is cost of tin plate. 32. 2 Typical 40 foot-5 inch 50-ton borcar. Steel cost is cost of about 30,000 pounds of plates, shapes, wheels, axles, etc. Iron castings are excluded. 10.0 EXHIBIT S-248A THE SMALL PART OF STEEL IN THE PRICE OF FINISHED PRODUCTS The cost of steel is not a major factor in the price of most consumer goods items manufactured by other industries, largely from steel products. For example, the cost of the steel in an "average" four-door automobile is about 9 percent of the delivered price of such an automobile. EXHIBIT S-249 CHART 20.-United States Steel's ingot capacity in relation to steel industry, United States Steel Corp. and subsidiaries 1 T.N.E.C. chart studies, vol. II. Figures for 1934 and subsequent years include only that portion of capacity of steel for castings used by foundries operated by companies producing steel ingots. Includes capacities of facilities constructed and operated by United States Steel for the Government which were subsequently purchased by United States Steel. Source: Corporation records and American Iron & Steel Institute. Data include capacity for castings. Ingot capacity of both United States Steel and the steel industry has been increasing since 1901. The steel industry's capacity in 1901 was about 24,000,000 tons; today its capacity is approximately 100,000,000 tons. Although United States Steel has expanded its ingot capacity threefold since its first year of operation from about 11,000,000 to 32,000,000 tons-its relative size in the steel industry has grown smaller with the passage of time. United States Steel's rated annual capacity at January 1, 1950, for the production of steel ingots and castings was 32,000,000 tons. United States Steel's capacity is 32.2 percent, or less than one-third of the total ingot capacity of the Nation, its competitors having slightly more than two-thirds of such total. The percentage of capacity owned by United States Steel in relation to the total capacity of the Nation has shown a downward trend since the early years of the corporation's existence. |