Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-01-14
Comparison Of Steel Profits.

Comparison of Steel Profits.
Jan. 1, 1903. Jan. l, 1902
Foundry pig No. 2
standard, Phil
adelphia, per ton $1,000 s15.75
Foundry pig No. 2
Southern Cincin-
natl, per ton. -. 1900 1425
Foundry pig. Chi
cago, per ton.... $500 1880
Structural steel,
Pittsburg,
ton -. :. $4,000 1000 32.O0@ $500
Steel rails heavy
per ton. ...... .. $500 $500
Steel rails, medi-
UNI and light,
per ton I. 35.00@40.00 1900
A glance at the above quotations will
show that the producers of pig iron are
getting 80 per cent more for their iron
today than twelve months ago, and
structural steel has advanced So per
ton. while heavy steel rails used by the
great railroads of the country remain
exactly the same price as twelve
months ago, viz: S2S por ton.
But If lighter sections of rail are
wanted, such as used by lumbermen
for logging roads and for mining pur-
poses. the price is $35 to $40 per ton.
Can it be possible that the steel trust
is afraid to advance the price of heavy
rails to the big railroad corporations
lest they combine and build rail mills
of their own?
The coal operator and the lumber
man must pay the freight, as their
needs would hardly justify even the
fear of making their own rails, and the
tariff of $7.S4 per ton is a bunker that
shelters the steel trust and permits a
discrimination of 80 per cent in favor
OF the big railroad corporations.
But the country is prosperous. and
nobody should complain of prices or
tariffs.
Some years ago Mr. Carnegie boasted
he could produce steel beams and cham
nels at ] cent per pound and make
profit. Structural steel is now selling
at 2 cents per pound, and every pro-
cess and operation in the production OF
steel Is less per ton today than ever
before. Present prices and present cost
of production explain why the United
States steel Company can declare a
profit Of s135, 100000 on last years bus
mess.
Estimating the total steel product OF
the United States at 15,000.000 tons,
and the steel trust claims to make 65
per cent of this or 100000 tons, we
find the profit is 1880 per ton, or 81
per cent on Mr.. Carnegies boosted sell
ing price of $50 per ton. and still some
newspapers and politicians claim that
conditions haven't changed sufficiently
to Justify a revision of the sacred
schedules in the iron and steel tariH.
The tariff on iron and steel could be
reduced so per cent without disturbing
ANYTHING. except the extortionate pro-
fits of the iron and steel monopoly. Our
superior ore and fuel, in conjunction
with ample capital and the best ma
ichinery and the most capable work
men in the world, enables this country
to produce iron and steel cheaper IMAM
any other nation on eartn, just as
4ysings- h4j,stee emf went en- cmfWyp
Mother Nature and Mother Necessity
uabor- inventions) enable the
farmers Of the Mississippi valley to
raise SOIIt CuSdPSl eAAeAAA >>N-S
on this circular globe
Yes, there are others" who want 10
"let we'll enough alone The manu-
facturers of white pine lumber ana
owners of white pine stumpage VINO
mark up their property every sixty
DAYS and serenely ask the kicking con-
sumer What If the forestry depart
ment of our government make PUBIC
statement thru Professor FernoW tnat
thirty wears will exhaust all the virgin
timber supply Of the United States
that 1t is improbable, If not Impossible,
that it will last even that long. or
course the men with a good title TO THIS
waning natural product will exact the
highest price possible, knowing that
a pine tree fit for lumber can not be
grown in a hundred years. This being
the condition Of our forest supply, why
should the people on the prairies OF
Iowa have any ideas on the tariff and
question the wisdom OF duty on pine
lumber? And when our practical. we'll
informed governor suggests that our
tariff schedule should be adjusted to
present conditions, 1t becomes a capt.
tai offense in the minds OF some edf-
tors. and calls forth daily columns OF
critical opposition and misrepresenta-
ton, suggesting to the common mind
that if present duties are such good
thing, why the need of SO much defend
ing?
Under normal conditions, competition
Insures the public against unfair pro-
fits, for mercantile competition is just
as relentless and improbable and
cruel as warfare with cannon and mus
kets, and generally in a victory OF thu
party having the heaviest guns and the
best commanded troops, and the pub
lie can always be counted on to give
delighted encouragement to all COM
mercial conflicts, like the mob at a
prize fight-the greater the slaughter,
The more they get for their money.
With free competition, tariff duties
may bar out the foreigner, but never
counts on the profits or quotations
made by the strenuously competing
nome manufacturer. 1t is only when
exists that the public be.
comes the victim of a cinch and are
justified in demanding that the govern
nent withdraw from partnership I'M
and enriching the extorting
Robert Fullerton, writing