The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-12-02
CONFIDENT Of
BETTER TIMES
Business Depression Not Ex-
pected to Last So Long as
Other Like Periods.
THOUSANDS OF MEN IDLE
EXPORT TRADE REPORTED ON
THE MEND.

Cleveland, Dec. 1.-Among manufac-
turers of iron, steel, machine tools and
machinery there is general belief
that the present depression viii not be
so prolonged as in previous periods of
stagnation in business. Careful inquiry
made by correspondents of the Iron
Trade Review in many cities of the
United States reveal a. somewhat bet
ter feeling, especially as to financial
conditionss. There will, however, be
further curtailments of production,
especially in pig iron, steel and semi
finished materials, but aside from
plants which manufacture such pro-
ducts, the numbers of closed concerns
are not large, although there is a gen
eraI reduction of hours of working and
of the number of employees.
Furnaces Blown Out.
Curtailment of pig iron production
has proceeded at a rapid rate in the
east, and in eastern Pennsylvania so
per cenT of the furnaces have been put
out IF blast within d few weeks. The
United States Steel corporation now
has fifty of its ninety-ive workable
furnaces out of blast, and several
more are expected to. be blown out
within a few days.
The Republic Iron & Steel company
viii start it's Youngstown plants to-
morrow, and has resumed operations
at its East st. Louis plant with one
third or the number of employees, but
expects to put on an additional large
force next Monday.
Thousands Idle at St. Louis.
With approximately 10000 men out
of employment in ST. Louis and 10000
in East St Louis. and the announce
men that the various industries of the
North American company in st. Louis
will lay off an additional 1900 men,
comes the cheering announcement
that the St. Louis Terminal Railroad
association will expeRd s4.00O,o0O in
construction of viaducts, tracks and
bridges
The American Steel Foundries plant
at Granite City, Ill, is closed down
permanently
In Cincinnati and vicinity there have
been very few actual shutdowns. tut
many plants are running with reduced
forces or on short time. Unified or
ders are sufficient to keep the plants
going for another thirty days, on
short time but new business is light.
From Cincinnati, Columbus and New
England cities come reports that or
ders from foreign lands are doing
much to make I'D for loss of domestic
trade.
At Worcester, the center of the ma
chine tool industry of New England,
the banks have not actually felt tho
lack of cash, but a number of plants
have curtailed production.
Confidence In Future.
In Milwaukee about 1000 men are
out of employment. The Milwaukee
plant Of the National Enameling &
Stamping company, which has just
shut down. does not expect TO resume
until after Jan. l. Reports from
Cleveland. Boston. Buffalo, Chicago,
Dayton. Detroit, Indianapolis, Louis
Vile. Philadelphia, Syracuse and To-
ronto indicate that there is a general
but gradually decreasing embarrass-
ment OF account of lack Of currency.
The almost universal report is that
conditions have improved during the
last week or ten days. and there is
more confidence in the future. In
dianapolis seems to be in an especially
good condition. In Philadelphia the
Baldwin locomotive works, which has
had $4,000 men in its employ for the
last two years. has arranged to dis
continue its light force. at Syracuse
a number Of plants are working nights
and have more than they can do.