Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-04-21
REBuKE OF PUBLICITY.

The people have been given another
Illustration OF the tricks OF. the trust in
the closing down of twelve Steel mills.
and the throwing out of employment
OF 5000 men all at the beck of one man,
& 70 influence the stock market. This
81 tftsssi ilt \ llisrIeaR Sitl
ar iolnil 1llss suspSi sfisgs
mo- af sssostiit;s
no just reason for Il. The steel puss-
ness is prosperous as never before. Ii
is The universal testimony of others III
the same line Of trade that the mills.
are running at full capacity to meet
demands, and that they have orders
enough ahead to keep them fully en-
ployed for months to come. Tc justify
himself Gates gave out in an interview
that the Wire and steel business is in
bad shape" In rebuttal of this
Archer Brown, a we'll known authority,
takes the view that the shutting down
OF the steel and wire conpany's mills
has a closer relation to stocks, in the
Wall street sense, than to stocks of.
steel wire and steel4rods- He said:
.'Manufacturers OF iron and steel
: Who have nothing to do with Wall
street are amazed at what is going on
there and particularly at the state.
ments put out with great show of au-
thority from certain quarters that
Things are going to the bad. Nothing
s like 1T was ever before seen in the iron
trade. 1t would be Iudicrous. ifit were
not serious. for many unlucNy people
who permit themselves to be misled.
8 How trade conditions can be brilliant
one week and ruinous the next viii
mystify Innocent people. 1t is quite
4 evident, however, that the Wall street
public does not stop to weigh these
stories. judging from the way they
tumble out stocks when the pressure is
Il put on them.
1T can be said with absolute certain-
ty that trade conditions are good ans.
not bad. No one denies that since De-
cenber forward contracting has been
light, for buyers have believed that
prices would shade off from the high
point reached about December l. But
any man who will take the pains to
4 study the monthly statistics will find
that the country is using all the iron
IT is making. He will find that pFoduc-
ton reached its maximum about the
first OF the year and is not being fur
ther expanded He will find that, whily
a great deal of new work is held up be-
z cause of belief in lower prices later.
enough Is going on to keep mills and
I furnaces reasonably busy. He will. find
that practically no business was done
at the top prices of 1893. and that we
can have further shading of 10 or Ii
per cent and still be above the level of
last years average. He will find that
the foreign demand is running heavy
In every line, and prospects that it Will
1 further increase. The world at large is
calling for greatly increased quantities
II OF iron and steel manufactures in every
form. England and Germany have
cleaned out their stocks and are now
( freely dealing in 1901 business at full
current prices. He will find that adj
vances In labor and transportation
have been heavy, and that any serious
slump in prices would quickly shut Off
Y SUFFICIENT capacity to restore the mar
kat.
III he VIII think little he will re-
hect that the iron and steel industry is
at the foundation Of prosperity, and if
# 10 as bad as painted, then practically
all securities are so per cent too high.
There is a belief widespread and prob
I ably well founded that business condi-
tlons are sound turnout the country.
This IL based on the unexampled pros
,perity OF the great west, particularly
4 the farmers; on the enormous increase
B y ss 1, output Of precious metals. and