New-York tribune., 1902-08-09
INCREASE IN STEEL IEpORTs
CHANGE IN TRADE CONDITIONS DISCUSSED
By EXPERTS

Washington. Aug. (SpeciaD-An increase of
lo00Oo0 in imports of iron and steel manufactures
and decrease Of S19 600 in the exports of that
class OF articles is the striking characteristic
OF the commerce of the year Just ended The total
imports OF iron and steel manufactures in the fs-
cal year just ended s27 25 in value against
A'S'47Ss in the preceding year. while the exports
OF iron and steel manufactures were sss 552 $50
against slI7,3l9,S2o in the preceding year. This
makes the imports of the year larger than those
OF any preceding year since 1893 This subject IS
discussed as follows in the Annual Report of the
Chlef OF the Bureau of Statistics just completed;
Inc most remarkable feature in the years COM
Ie IIneICe IN manufactures has been that which re-
lates TO the movement in the manufactures of iron
ports have fallen off ss 600 o50 in round figures
and the imports have increased S?6oo 900 For
many years prior TO 1901 the exports of iron and
steadily decreased Expectations Of iron and steel
etures increased from $20ooooo in value in
steel decreased s67OOOe in 1882 to S200000 in
fell to siI70oooo and in 1902 to SOS ocoeo while the
o5s @ @ Of iron m o a3d o steel odg Increased to $Ge IN
i5on @ m and steel in the fiscal year just ended are
@ pei9W 1hSSe s ooo OF d 5s aaa te IN po b %
total imports OF iron and steel for the year 1907
crease in imports Of iron and steel has been gen
eral practically every class showing oo, much T;t1
Plate; for example. shows an increase of oyer @ e
%'o tngSfS O. no blooms 5o ana bars over ~ IOUt PIG R
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 Associa-
ton James NJ. Swank. in his annual report. as
follows:
trade iron ard steel since this subject was
iS8s nnd 800 In fssq and ID medateiy preceding
years the iron and steel industries in Europe were
rand and prices were high In the years just prior
70 1889 the prices Of iron and steel in the United
Trer lowe Under
these conditions naturally found opportunities
in neutral markets. and in the home markets
OF our European competitors. But these conditions
European prices have declined and the home de
Inand upon our iron and steel works mas gT@eatay @
increased. while our prices nave aoTancea; hellCe
sharper competition in neutral and all foreign mar
markets The fgures Of increased imports and de-
creased exports Of iron and steel should not De
urers. We hope that they will lead them ms cad
:o1 srd s+eei are 10 he easily CAPTURED and held
The activity IN our export trade in iron and stee!
m NAL ihe Hof only Is EGrope adopting our improved
methods OF manufacture. but 1t will always nave
cheap labor. and bg these agencies = can ho-d Its
markets and actively and aggressiyely contend
and steel Industries as well as for al otner aones
tic manufa cturing industries: our home market
must always be our best market
1t seems not improper to add to the foregoing
statement Of the causes OF reduction IN exports Of
iron and steel that Of the principal causes OF
the low prices in foreign markets seems likely to
terminate In the near future These reductions in
prices were. 1t IS stated on good authority due
in part to excessive expectations Of iron and steel
manufacturers from Germany: made at unusually
low prices with the purpose of dsposing OF an ac.
mulated surplus caused by overproduction and
the reduced home demand due to the recent tenn
porary depression existing in the industries OF that
country. This surplus having been largely disposed
of and the depression having apparently passed IFS
most stage II is believed that the exports OF
iron and steel from Germany will soon resume nor
NAL conditions. both 10 quantity and prices, ana
that with this one OF the important causes OF the
reduction prices of iron and steel manufacturers
In the foreign markets will disappear and normal
conditions in export trade be resumed