Tariff Hearings Before the Committee On Ways And Means of the House of Representatives, Sixtieth Congress, 1908-1909 ...

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1631 for making a ton of pig iron — you will have the approximate cost of a ton of pig iron that year.
The Chairman. What were those expenses, labor?
Mr. ScinvAB. Labor expense, and small things about the works.
The Chairman. Steam?
Mr. Schwab. "Well, there was no steam in making pig iron — tliere was some at that time, but very little. Now, that was the cost of making pig iron in that year. If you will recollect, in that same year Pittsburg made a great many conversion contracts for making bil
...lets, the cost of which is not widely different from the cost of mak- ing rails, at $5 per ton above the cost of pig iron. That $5 a ton included our profit in those years, and I am not stating anything that is not generally known. If you will add, therefore, about $3.75 more a ton to that you will have the cost of making rails in Pitts- burg in that year — that is, the mill cost, absolutely. It was about $12. Now, that would vary from month to month Mr. Cockran. Do you mean allowing for depreciation and things of that kind ?

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