The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1902-02-05
srEE1. coMpANYs STATEMENT

sTERI, CoNPANY'S STATEMENT
Nothing has done as much TO 0llay
hostile feelings toward the United
states Steel corporation as it's policy
Of publicity, SAYS the Tacoma Ledger,
A shor, time ago Il gave on; a brief
statement showing its business trom
the date ot organization. longer
statement is now made public ana will
be read with immense interest, The
iron and steel trade is still 'egavied
as the barometer Of industrial condi-
lions in this country The conditions
reported by the great concern that
manufactures 50 large a percentage
Of our total product are, therefore,
anast encouraging 20 the entire public
IN the cheerful outlook that they pre-
sent
The actual business now booked on
orders, says the management Of
the concern, is sufficient TO absorb
one-half the entire capacity OF all the
establishments united in the great
steel company As far as the heavier
products are concerned especially
steel rails and structural steel all that
the mills can turn on; TO the end Of
the year have been disposed o. There
is. therefore, no possibility OF any de-
rangement Of the industry that would
carry down others with it or interfere
with the prosperity shat the country
now enjoys.
No one can in fairness, deny 20 the
steel company itself its share Of cred
il for the maintainance OF these favor
able conditions. It could, as It says.
and as We pointed on many weeks
aEo. in the presence Of such ire
mendous demand as has been made
upon it. have forced up to a much
higher figure the price OF It's products.
Some buyers would have been COM
PEELED 20 pay; but other buyers, de-
terred by this increase Of price. would
have postponed their enterprises and
demand would have fallen Of. A tenn
pOrary increase OF profits would have
been purchased by a certain future
sagging OF the market, running poSsi-
bly, TO eventual collapse The man
ayers OF the company report that their
refusal TO push prices 20 the limit,
their preference for a satisfactory, GER
tain and permanent profit, has been
Of great benefit in steadying an the
markets.
The question is in many mouths
whether intelligent self-interest Is suf-
fcient to make men in control Of large
enterprises forbear their opportunity
to gouge the public and remain con-
tent with a moderate profit for them
seives and moderate profit for 9TH
ers. While We are not 50 sangulne as
to suppose that this principle has be-
come anything ike universal in the
business world. yet we are just as Ger
tain tina, It must prevail everywhere
eventually as we are that any other
right policy is in the end the bes,
paying policy And the importance Of
the rule is most likely 70 be- first ad-
mitted and acted upon by those a, the
head Of the gigantic enterprises. where
the difference between success and
failure is measured by hundreds of
millions.
No doubt the business ~ th~ steel
corporation is presented in It's roslest
light TO the reader, but it shows a
very handsome margin Of profit on the
capital invested in this gigantic con-
eern. The TWO facts connected with II
which are Of greatest moment are that
which we have just referred to. its
conservative influence upon prices
acting as a balance wheel 70 the mar
ket, and its now settled policy Of max.
ing public Statements Of the progress
OF it's business to the public if these
two courses Of action shoul be iml-
tated generally, the trust word re-
come presently, in any Of It's Develop
ments. very popular institution