The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1909-07-15
Leading Industrial and Fl
nancial Magazines Say
Gary Will Wrest suprem
acy in Manufacturing
From Pittsburg.
CORPORATION SPENDING
A MILLION A MONTH
Strikers in Tin Plate Factories in the
East Are Hard Pressed for Money
Say Talk Of Moving Plant to This
County is Given Out as Threat to
the Strikers.


That Gary Is destined to be the great
est manufacturing city in the world,
even surprising Pittsburg in It's mag
nitude. is the leading comment of all
the important industrial magazines and
newspapers Of today.
Such IS also the newest plans of the
United States Steel corporation. Elk
penditures are now being authorized by
the steel corporation on the local plant
at the fabulous rate of $500. 900 a
month. When completed the Indiana
Steel company's plant will be the big
gest IN the world. It will make this
territory the most important manu-
featuring in the world, and the home
Of ono OF the greateet industries in the
universe will be transferred from the
east 10 the west. Gary will not be
merely 2 Pittsburg in the west, rather
it will represent to the world at large
what Pittsburg does now. Pittsburg
viii step down as the home of the
steel lnGustty and Gary will step in.
Officials OF the company are reticent
about Masking any statements as to ex-
act amount of the expenditures already
mapeed out. but it is generally under
stood that the figure is an enormous
enc, climbing well up into the mil
liens.
Plenty Funds on Hand.
At present no new financing is con-
teupIated, 1t not being necessary. ac-
ocraing to information from official
quarters. The steel company an
noupces officially that it has sufficient
funds on hand to cover all the addi-
lions now contemplated. although it is
stated that bonds may be issued in the
future for further improvements.
There is an impression among bank
ers that the steel company intends TO
abandon its policy of making improve
ments entirely out of earnings, and
that in future it will. to a large ex-
tent, capitalize such expenditures. This
procedure, would, of course, leave a
larger amount of money available for
dividends. on the common stocks.
Confidence in Business.
In the financial communities of the
country as we'll as in the steel trade
the action of the steel corporation in
pushing the work on Its new plant as
rapidly as possible is taken as the
strongest kind of indication of the COP
fidence which the managers OF that con-
Germ have in a speedy revival of bust
ness in that line to a volume equaling
if not exceeding the former maximum
output.
From Pittsburg come dispatches to
the effect that the steel company
latest plans for the new tin plate mill
and the sheet steel mill have aroused
a feeling among the business interests
of that city that the company has nc
other intention than to center its bust
ness in Gary as rapidly as the new
plant can be built up.
There is a strike of TIN plate work
ers on in Pittsburg. and the strikers
assert that the company's action is but
part of a plan to frighten the strikers
and the tradesmen from whom they buy
the necessities of life. but the business
men of the eastern city, the men who
look into the future, believe otherwise
they believe that Gary Is to succeed
Pittsburg as the center of the steel in
dustry.
At several points in the strike dis
triot in Pittsburg yesterday the former
threat of the company to dismantle
mills If the strike was not called off al
once was repeated. This open threat
added strength TO the belief that the
steel company intends to transfer the
center of its operations to Gary and
that the company intends to adopt and
enforce an open shop policy in its new
home.
The thousands of strikers who are
out Of the Pittsburg mills are incenseC
at what they allege is unfair treatment
at the hands of the corporation in the
strike fight. They claim that the en-
ployers are trying to starve them Out
by forcing storekeepers and small mer.
chants to refuse them any more credit
The only way by which the strikers
can now get food is to pay cash-whicf
they do not possess-or return to work
they claim. Dispatches from Pittsburs
say that no matter what the cause, i
is now a fact that the shopkeepers ar,
refusing to extend more credit to strik
Ing workingmen at several points.
SUBMARINE TEST