Release: NBER Macrohistory Database
Quotations Are Averages Of Weekly Quotations From Iron Age. In November, 1921,"Bessemer" Steel Rails And "Open-Hearth" Became Identical. Prior To This Date A Constant Differential Of $2.00 Existed Between The Two, Open-Hearth Being The Higher. The Extra $2.00 A Long Ton, Which Was For Many Years Charged For Open Hearth Rails, Was Annulled With The Rail Price Announced On October 22, 1921. (The $2.00 Differential Persisted During The Last Week Of October, However, But The Prices Of Bessemer And Open-Hearth Coincided Beginning In November. From 1868-1921, The Bessemer Price Was Used. The Figure Given Through 1918 (55.0) Was The Maximum Price Allowed By Government. Source: American Iron And Steel Institute, Annual Reports; Iron Age; Bls Bulletins And "Wholesale Prices."
This NBER data series m04181 appears on the NBER website in Chapter 4 at http://www.nber.org/databases/macrohistory/contents/chapter04.html.
NBER Indicator: m04181
National Bureau of Economic Research, Wholesale Price of Steel Rails for Pennsylvania [M04181US000PAM288NNBR], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/M04181US000PAM288NNBR, December 11, 2017.