Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-08-08
LOSE FOREIGN TRADE
Iron and Steel Exports Decrease
ed and Imports Increase
Many Millions.
Increased Prosperity and De.
mand at Home and Lower
Foreign Prices Cause.
Interesting Facts and Figures on
the Subject Issued by Treas.
ury Officials.
Special to Times Republican.

articles, is the most striking character
istic of the commerce of the year just
ended. The total imports of iron and
steel manufactures in the fiscal year
just ended were s27.1s0.255 in value.
against SiIS74,7S3 in the preceding
Year, while the exports of iron and steel
manufactures We're $9S.552.562, against
/ Sl''.3l3,32o in the preceding year. This
makes the imports of the year larger
than those of any preceding year since
1898. This subject is discussed as fol-
/ lows in the annual report of the chief
of the bureau of statistics just COM
pleted:
The most remarkable feature in the
years commerce in manufactures has
/ been that which relates to the move
/ lnent in the manufactures of iron and
/ steel. In this class of manufactures the
exports have fallen off $l9.000,000 in
round figures. ana the imports have in
creased Slo.oo0.o00. For many years
! prior to 1901 The exports of iron and
steel had steadily increased, While inn
ports had steadily decreased. Exporta-
tions of iron and steel manufactures
increased from sl2.oOo0oo in
value in 1880 to sl21oOo0Oo
in 1900, while imports of iron
and steel decreased from $4,000 900
in 1852 to S12,000.000 in 1899. In 1901.
however. the exports of iron and steel
fell to Sll7,000.0o0 and in 1902 to $9S,-
100000 While the imports of iron and
steel increased to S2o0oOoo0 in 1900
and to Sa1.0o0.OoO in 1902. Thus the
exports of iron and steel in the fiscal
year just ended are $230o0,000 below
those of 1900. and the imports of iron
and steel are Sl4.o00.000 above those
of 1883; the total imports of iron ana
steel for the year 1902 being greater
than in any year since 1898 This in
crease in imports of iron and steel has
been general. practically every class
showing much larger figures of inn
ports in 1902 than in 1901. Tin plate,
for example, shows an increase of over
$2.000,00o inSots. blooms, and bars
over a s1.0oo,o0o: pig iron over a ST.
900, and other classes in about the
same proportion.
The cause of the remarkable increase
in imports and decrease in exports of
iron and steel is stated by the secretary
of the Iron and Steel Association. Mr..
James NJ. swank. in his annual report
issued in 1902. as follows
"A marked change has taken place
in our foreign trade in iron and steel
since this subject was prominently re-
ferred to in our annual reports in 1899
and 1900. In 1899 and Immediately
preceding years the iron and steel in
dustries in Europe We're exceptionally
prosperous; there was an active de-
mand and prices We're high. In the
years just prior to 1899 the prices of
iron and steel in the United States We're
lower than they had ever been. Un-
der these conditions we naturally found !
opportunities TO dispose of our surplus
iron and steel products in neutral mar
lets, and even in the home markets of
our European competitors. But these |
conditions have materially changed;
the European demand and European
prices have declined and the home de-
mand upon cur own iron and steel |
works has greatly increased While our
prices have advanced hence sharper /
in neutral and all foreign I
markets and increased foreign COMPETE
ton i'm our own markets. The figures
of increased imports and decreased ex- /
ports of iron and steel should not be I
hastily dismissed by our iron and steel
We hope that they will
cad them. instead, to dismiss the
thought that the worlds markets for
ron and steel are to be easily captured
md held The activity in our export
lrade in iron and steel in the last few
years was exceptional and abnormal
Not only is Europe adopting our i'm
proved methods of manufacture. but it
will always have cheap labor. and by
hese agencies it can hold its own
markets and actively and aggressively
contend for the possession of neutral
markets. For our iron and steel indus
ries, as we'll as for all other domestic
industries, our home
market must always be our NEST mar
1et.'
1t seems not improper to add to the
above statement of the causes of re-
iuction in exports of iron and steel that
,ne of the principal causes of the low
prices in foreign markets seems likely
% terminate in the near future. These
in prices We're, it is stated
IN good authority, due in part to eN-
,essive expectations of iron and steel
from Germany, made at
low prices With the purpose
If disposing of an accumulated surplus
.auSed by over production and the re-
suced home demand due to the recent
depression existing in the.
Industries of that country. This sur
,lus having been largely disposed of
md the depression having apparently
passed its most acute stage, it is be-
ieved that the exports of iron and steel J
rom Germany will soon resume normal
conditions, both as to quantity and
,rices. and that with this. one of the
causes of the reduction in :
rces of iron and steel manufactures in
he foreign markets will disappear and
FORMAL conditions in our own export
raCe be resumed.
New Iowa Corporations.
Des Mones, Aug. S.-Articles of in
were filed yesterday by the
Glowing companies:
The Multi Novelty Company, of Bur-
ington. capital. $4,000
Amended articles by the Freeman
lumber Company. of Davenport,