The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-08-09
EFFECTIVE REMEDIES.
Steel Trust Will Relieve Stagnation
in the Trade.

New York, Aug. 9.-"The only effec-
tive remedies to restore the iron indus
try to normal and sound condition are
now being automatically applied and
will do more to inspire confidence than
all palliativeS. These are an extremely
sharp reduction in the production of pig
iron and quite an active export move
ment, with the prospect that the latter
will expand considerably since the mar
gin now is very satisfactory
So says the Iron Age which in it's issue
adds:
LAS bearing on the first point our re-
ports from blast furnace owners show
that furnaces have been blown out
wholesale during July, making a stag
gering reduction in the active producing
capacity on August l AT that date 24O
furnaces of all kinds were in blast, with
a weekly capacity of PA, 1926 tons, against
2S4 furnaces on July 1, with a weekly
capacity of 2S3, Alb tons. This is re-
StrictiOn of production in earnest and it
should soon put the pig iron market in
better shape, particularly when it is
considered that the movement has not
yet exhausted itself. In fact, in an in
formal manner the furnace owners of
the central west have declined to bank
a number of stacks on September 1,
which are now running.
1.-The furnaces which have been blown
out in the past month are scattered all
over the country. In some instances the
proprietorS of the furnaces blown out
state that their action is taken for the
purpose OF making repairs, out IN Sucn
times as these repairs are not usually
done under pressure, and it may be
assumed that after the repairs are COM
pleted such furnaces will not be blown
in unless their product is needed. Mean
while, other furnaces are to be blown
out as soon as stock now in hand is
used
1T is true that the August report
shows a further accumulation of stocks,
but the rate of reduction of output in
the last month represents about 10000
tons per month, or about double the
recent monthly rate OF accumulation of
metal.
I'm the meantime, the closing down of
so many rolling mills on account of
labor difficulties and for other causes
must lead to a steady depletion of
stocks of finished goods, so that in that
direction, too, the situation is becoming
intrinsically sounder.
Then we are finding relief in our ex-
port trade. Very considerable quanti-
ties of steel billets. tin plate and sheet
bars, skelp, wire rods and finished ar
ticIeS have been shipped, and have been
contracted for shipment at prices which
market in spite of the fact that they
are very much lower than those ruling
in the British open markets. In { her
words, there is the prospect that on
siderable additional business may be put
through, although freight rates are high
and show a stiffening tendency. Costs
abroad are on a high level, through
scarce fuel, high labor and costly ores.
Prices here are to some extent unbal-
anced, finished products being relative
ly much lower than the cruder or semi
finished forms, a condition of affairs
which practically rules out those who do
not control the materials from the
ground up. If the demand must call
upon them for product the raw ma
terial must decline or the finished pro-
duct must advance"