New-York tribune., 1907-12-02
HOPEFUL VIEW TAKEN.
IRON AND STEEL OUTLOOK.
Belief Depression WI Not Continue
so Long as FOrmcrlg.

Cleveland. Dec. 1-Anong manufacturers OF
| iron and steel machine tools and machinery
there is a general belief that the present depres-
! sion will not be prolonged in previous
! periods of stagnation in business The results
| OF careful inquiry made by correspondents Of
The Iron Trade Review" in many cities iudi-
cate somewhat better feeling especially as to
| financial conditions. There WILL however, be
further curtailment Of production. especially in
pig iron, steel and semi-hnIshed materials. but
aside from plants which manufacture such prod
ucts the number Of closed concerns is not large.
although there is a general reduction in hours
of working and il the number of employees.
CurtaiIment OF pig iron production has pro-
ceeded at a rapid rate in the East. In Eastern
Pennsylvania 60 per cent Of the furnaces have
been put out OF blast within Il few weeks. The
United States Steel Corporation has fifty
Of its ninety-fve workable furnaces out of blast
and several more are expected to he blown out
within a few days
The Republic Iron and Steel Company will
start its Youngstown plants TO- morrow and has
resumed operations at it's East st. Louis plant
with one-third of the number of employees, but
it expects to put additional large force
next Monday.
Though approximately thirty thousand men
are out of employment in St. Louis and ten
thousand in East ST. Louis. and despite the
1dCt tfldt the various industries or the North
American Company in st. Louis will lay off an
additional fifteen hundred men, the cheering
nouncement is made that the St. Louis Terminal
Railroad Association will expend $4,0G00O0 III
the construction of viaducts, tracks and bridges.
In East ST. Louis the American Aluminium
Works idle. with sixteen hundred men out
of employment. The American Steel Foundres
plant at Granite City. Ill, is closed down per-
manently.
In Cincinnati and vicinity there have been
few actual shutdowns, but many plants are
running with reduced forces or short time
Untitled orders sufficient to keep the plants
going for another thirty days. on short time, but
new business is light Cincinnati Columbus
and New England cities report that orders from
foreign lands are doing much to make UP for
the loss of domestic trade AT Worcester the
centre OF the machine tool industry or New
England the banks have not acutely felt the
lack of cash, but number of plants have cur
tailed production. In Milwaukee about four
thousand men are out of employment. The
Milwaukee plant of the National Enamelling
and Stamping Company, which has just shut
down does not expect to resume until after
January L.
Reports from Cleveland, Boston, Buffalo, Chi
cago| Dayton, Detroit, Indianapolis, Louisville
Philadelphia, Syracuse and Toronto indicate
that there is general but gradually decreasing
embarrassment on account Vi iei13N VI 1itAS~''
The almost universal report Is that conditions
have improved during the last week or ten days,
and there is more confidence III the future. IN
dianapolis seems to be in an especially good
condition In Philadelphia the Baldwin Loco
motive Works, which have had twenty-five
thousand men at work for the last two years =
will discontinue the night force. At Syracuse
number of plants are working nights and have
more than they can do.
Pittsburg Dec. 1.-The Isabella furnace OF
tbe American Steel and Wire Company. at Etna,
suburb, has been closed indefinitely, throw
ing more than one thousand men out OF en-
plovment The pipe mill of the Spang & Chai-
fen4 Company shut down last night, LOO men
being affected. ,
nrrrp At usHER'S THE SCOTCH