New-York tribune., 1899-05-26
. GREAT INDUSTRY WORTHILY REPORTED.

A GREAT INDUSTRY WORTHILf REPORTED.
The official report Of the American Iron ana
Steel Association for 1898. including. as usual
foreign iron and steel statistics, has been issued
bv the general manager, james NJ SwanK' sew
oral months earlier than the report for 1897 was
issued. but is even more full Of Information than
usual These annual reports of this manufact-
urinr Industry greater than all others and pro-
ducinr an almost incalculable variety of prod
nets with possibilities Of overlapping and dupii-
cotion which IL requires the greatest labor and
skill IN avoid come always as a rebuke to some
otbor industries which constantly ask public ap-
precintion and favor. but refuse to make public
onv accurate information Of their progress. 1t
is an honor to the association and to Mr.. Swank
ms it's manager for many years that this poncy
Of great frankness and costly expenditure to
give the country definite knowledge OF its busi-
ness has never been interrupted but has con
trlbntpd not n little 10 the splendid triumphs
which that industry has achieved over n compe-
tition for n long time more severe than most
other industries had to face. 1t is policy
which has it's reward In a constant ana growing
National pride in success attained.
Last wear was the most successful in the en-
fire history of the business. While the home de
mand was large and the consumption IN the
manufacture for the first time exceeded twelve
million tons Of pig. million per month, the pro-
duction was so heavy that prices were kept re-
markaby low throughout the year, and rorelgn
morlets wore sought with measure of success
never attained or approached before. Nor were
low prices cause of disaster as the increasing
output proved, and the record OF failures shows
i'm this industry an aggregate Of defauted liabil-
tiles less than half those Of any OF the previous
five years. except 1897, and only S2.1OO,0OO,
against 81, 100000, in that year. The low prices
did not prevent large expansion in productive
power which has been most important for the
country during this year. with its unprecedented
demand. IL prevented the advance In the wages
Of labor which has been generally given since
! this year brought better returns TO producers,
| and yet the wages OF 1895 would not have been
called low few years ago.
Particulars OF great interest in connection
with the recent consolidation OF works. espe-
cially in this industry, are given in the report
this year. The production In various forms is
shown with greater detail than ever. so that the
accounts Of output controlled by this or that
consolidation can be compared with the total
output in the country. The production Of pig
iron increased % per cent but the production OF
steel increased 2i.S per cent. leaving an increase
OF only about 10 per cent IN iron not used for
sleelmakng. The most striking feature Of thc
whole report is that the production OF Bessemer
steel increased less than the production Of pig
ron only POI per cent, while the output Of open
hearth steel increased SO per cent. more thar
that OF any kind Of product separately stated
This Is doubtless due 10 the fact that engineer,
have OF late found more objection than before tC