New-York tribune., 1907-09-17
EY-JUDGE GARY HOPEFUL.
Steel Trust Chairman Erpects Re
ne5caI of Public Confidence Soon.

Ex-Ju6ge z H Gary chairman Of the United
States Steel Corporation. gave his views yesterday
Hon the business situation the outlook for the
fsuture. Notwithstanding that both the preferred
and common stock Of the United States Steel Cor
sporation touched the lowest point yesterday since
isses. he optimistic, and made the unqualified
Epredction that in the future the public would
krealize that for years had II had such an op-
Lportunity TO buy standard dividend securities.
When that time arrived, he said. not only would
these shares be taken out Of the market but a
situation would be created which would enable
porporations raise funds for betterments.
Mr.. Gary returned from Europe last Tuesday,
Fbut at that time declined discuss the business
Eoutlook saying he wanted time to look about and
Investigate conditions a little before giving his
sNievs as he never talked bindly. Yesterday. how
Hever, he was willing speak On the subject.
II have always hesitated TO make public any
aestirnate for the future. except far as infer
t~nces of future business may be drawn from state
rnents Of present conditions he said. Before
leaving for Europe, July. I expressed the opn-
sson that the orders for the last half Of the year
txvoud be equal those OF 1875. II looked then
aes ] stated, if the falling of in new business
would te not less than 20 per cent. The figures
fshow . per cent and the decline caused large
ly by the railroads. Until the committee Of rail-
iway officers and steel experts make their report
Ion what rail- should be adopted as standard TO
best meet the requirements Of heavy traffic and
S,nodern locomotives. no orders for rails will be
sJlaced That reporc will be made in the near
future
To me the general situation is this: The coun-
try was in need Of between $500 ooo and sioo,
0o0 additional capital. and could not get IT. The
next best thing happened. a slowing down If the
favorable weather continues for the next two or
three weeks We will get s. GO 00aNE9 for crops.
That viii keep the railroads busy, and 10 keep
/ ahead the railroads must order new cars and
rails a general ql1ickening OF business will fol
lov.
We always disoouIting the future and
known factors discounted earlier from year
year. In my opinion the forthcoming Presiden
election has been discounted earlier than usual,
and it has been Teflecte5 in the securities market
''One decidedly favorable feature Of the steel and
iron Srade is that the manufacturers are in per-
feet accord Steel people. a rule, are always
ready TO get together and discuss conditions
they arise That attitude has tendency 70
keep the trade stable. and II has done than
tsnything else 10 prevent OF accidents
that have been disastrous in :lle past.
Just now : can 10 20 more than reneat what
said two months age The great and increas-
tng wealth Of the country. the annual accumula-
t1ion OF values and the increasing population are
certain in the long bring 10 the op-
Ftimst if in the time he viii deal within the
limits Of his resources, keep his head and act
iairly and decently toward his competitors his en-
fxloyes and the public