The herald., 1898-12-03
INCREASED EXPORT OF MANU.
FACTURED PRODUCTS
SARDINE CANNING INDUSTRY
Financial Observation-Disclosures
War Tax Decisions-Sleeping
Car Decision
OFFICE OF THE HERALD,
Los AnGeIes, Zee. 2, Io9o.


The iron trade situation both at home and
abroad is most interesting one at present.
Briefly summed up, conditions point the
world over to a maximum production OF
nearly all forms of crude and finished mate
rial, and as vet there seems little fear that
production is outstrippng consumptive de-
mand. In this country, certainly, production
has been so great us 20 astonish some OF those
well yersed in the industry, and 1t is SAID,
saws Bradstreet's, that several plants have
turned out SO much material as to have
opened the eyes of the managers thereof as
to what was possible when all circumstances
combined to favor a maximum production.
Iron trade papers of late have frequently
contained particulars Of maximum outputs
achieved and disposed Of. That the financial
returns on these immense outputs have not
in all cases equaled expectations is largely
due to the failure OF values TO rise to the
extent looked for earlier in the season. 1t Is
safe to say that the prospect OF a production
of crude pig iron i'll this country closely ap-
preaching 1900, 900 tons, this amount being
freely predicted for the present year, would
a few years ago have caused a tremendous
rise in prices. Nothing like this has oc-
cured, however, and the prices paid this
year furnish little evidence of the immense
demand which has developed
Were it not, indeed, for the energetic de-
veopment of our export trade it would not
have been impossible for prices to have
weakened materially under the weight OF
production, and to no other industry has
the value of an adequate foreign outlet
been brought home so forcibly as to the
iron and steel interest. Although our eX-
ports of crude pig iron fail to reach the
proportions shown one year ago, com
pensation of this is found in the largely in
creased exports of manufactured products,
notably bar iron, steel rails, steel plates,
wire and numberless other and subordinate
forms of production. For nine months OF
the year the exports of iron and steel, both
crude and partly finished, aggregate nearly
100000 TONS and it is estimated that the
exports of all varieties OF iron and steel for
the nine months aggregate nearly 100000
tons, making it possible for large addi-
tional export to be made during the remain
ing three months of the year.
Reasons for the presence of this foreign
outlet are not far to seek, and are to be
found largely in the immense activity re-
ported in nearly all the leading countries OF
the world. In Great Britain, Germany and
other countries the production OF crude iron
is certainly far in advance of one year ago,
and the necessity of securing adequate sup
plies of raw material to feed this immense
production is pressing one, especially in
Great Britain, where, for instance, stocks
of pig iron in the regular warrant yards and
in the hands of manufacturers are lower than
they have been for nearly seven years. The
fact seems to be that all over the world the
consumptive demand for iron, steel and its
various forms has caught up with and even
passed the production, and the outlook as
to prices, in view of the immense possibili-
ties as to production in the various coun-
tries, while not favoring an advance in
values, is taken as indicating practical
permanence for some time to come, at least
in quotations, probably insuring on the
basis of the largely increased production
net return as favorable as in most recent
years.