The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1904-01-24
IRON AID STEEL
ARE LOOKING Up
Tide Has Turned and I'm
provement Is Expected.
PRICE OF RAILS IS FIXED
Bookings for Pig Iron Equal to Rec
ord of Boom Period
Of 1907.

PITTSBURG. Pa. Jan. 2S-"The tide
of the iron and steel trade In the United
States has again turned. The change is
for the better. No boom is looked for.
but an Improvement has set in, and
there is every reason to look for it's
continuance
This statement is made by one of the
most influential directors OF Ihe United
states Steel Corporations man who
mas made the iron and steel industry
almost life study.
He gave some facts and figures to
substantlate his assertion For ex-
ample, the productive capacity OF the
MUS mas been Increased since the last
week IN december, 1903. fully Is per
cent. That is. the mills are today turn
ing out p per cent more material than
they did in the last week Of 1893
There has developed a more active
demand, and he attributes this to the
fact that consumer have begun to re-
alize that prices we're to be maintained
at the recent levtl established for them.
Harmony in the Trade.
Il do not think" he said. that there
has been a time in recent years when
as much harmony existed in the trade
as at present The great mistake. which
IRON and steel producers have made In
tne past Is that the moment productive
capacity exceeded the dcmanu that mo-
ment an indiscriminate scramble for
business was Instituted. Prices ala not
seem TO cut any figure. Producers
operation. and prices suffered In con-
sequence. Such condition of affairs
could not, OF course. be long continued.
ana the result was general demoraIiza-
tlon. eliminating finally in bankruptcy
Tor the weaker producers.
such a condition as that Is impossible
today l do not want 10 say that the
change in condition, but the producers
have realized, finally. that their old va,y
or doing business has been destructive;
that the only safe and profitable course
TO pursue Is to stand together, and that
Is what they are doing.
Steel Rail Price Fixed.
do you find any cutting in the price
Of steel rails?" he continued Every
effort has been made 10 induce a lower
level of prices for them. vet they ara
maintained. Not a ton Of steel raiI- - r.
being produced in this country TODAY
except that for export, under SIS Der
ton, and that is the price which will be
maintained during the present year. I
say this advisedly. for it is the price
which has been decided UPON.
The revival in the trade has not as
yet told upon the stocks OF pig iron
II viii DO SO from this time forth The
demand for iron and steel products
must necessarily precede their manu-.
Iacture- That is the situation today
ne demand has already developed
Now viii come the execution OF the
orders. and then the effect upon pig iron
supplies
The bookings OF the United States
steel Corporation arc now at the rate
OF 1900 tons a day. which Is equal to
the record OF Tie boom period OF 1872
Prices are, OF course, considerably
lower. but so is the cost of production
so that the business continues on
profitable basis. Mills are starting up
all over the country, which Is another
infallible sign that the trade is on the
mend"