New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-14
SIOsS Sheffield President
Says New Tariff Is
Affecting 1t Badly.
SEES DANGER IN
CANADIAN IMPORTS
Pacific Trade Meets Competition
from India and
China.

Sheffield Steel and Iron Company, re-
turned yesterday from an inspection Of
the compary's plants at Birmingham.
Ala. filled with gloom over business con-
ditions in the South. As a result OF the
present stagnation he predicted that there
wouldn't be a Democrat north Of Mason
and Dixons line elected to Congress at
the November elections.
TO the reduction in the tariff principally
Mr. Maben attributed the current state
Of affairs I'm the steel industry. Many
manufacturers in this country, ne de-
clared would make immediate plans to
produce steel in China because Of the
lower wages and the wonderful resources
Of that country If they did not believe
that the Democratic administration would
be turned out at the end Of its term and
a Republican administration would put
the tariff up again.
The trouble with this new tariff he
said, lis that it makes this country sub
servlent to Europe. The minute business
picks Up here they will ship their goods
in and underbid us until their home mar
ket improves. There cannot be any indie
IeIQfIl steer MAJ net III AlAio tONAANA NAi
der the new tariff. Just now the markets
abroad are shot TO pieces, and we VIII
have to suffer for it.
The Canadians are also beginning to
take advantage of the tariff and are
shipping in pig iron. Rogers, Brown &
Co. the smartest pig iron agents and
brokers In this country, have accepted the
agency here for the Dominion Steel Com
pany. OF Canada. They sent a shipment
Of $500 tons last week to Philadelphia,
and / understand they have made ar
rangements for storing pig iron at many
New England ports at cents ton
month.
This means undoubtedly the beginning
OF big import movement from Canada
because Rogers, Brown * Co. would not
enter into a contract unless it meant bis
business. The Canadians can thus beat
any American company in that territory
on rates. shipping in at lower figures, and
by means Of the storage arrangement
they will be able to meet the demands OF
the buyers in this country at quick no
tee
AT the offices OF Rogers. Brown Co.
90 Church St. it was denied yesterday
that arrangements for storing large guam
titles OF Canadian pig iron had been ell
fected but il was admitted that the COM
pany had obtained the agency OF the DO
minion Steel Company. The rate TO New
York varies from Sl4 70 TO SIS % ton, or
about 90 cents ton lower than the rate
from the Southern pig iron plants. Be-
fore the new tariff went into effect Ca
madam shipments were virtually pro-
hibited by duty of s. 80 a ton.
After a trip to the South, several
months ago, Mr. Maben said business
men there talked nothing but prosperity;
but now. he says, they have begun TO feel
the hesitation that is felt in the street
trade here.
This time il was different" he con-
tinued. "One Of the biggest storekeepers
i'm Birmingham said TO me, L have not
made a cent of profit in the last month,
ana if ] haven't l know that nobody
else has
"I'nderwood won out in the primary FOR
the Senatorship in spite of the feeling
on his tariff reduction programme that
injured the district, because they had no.
body else to vote for They couldn't
vote for Hobson, a Prohibiuonist' who'
as Mr.. Dooley says, was simply kissed
or
steel men recognize that buyers are
down TO the exhaustion OF stocks. In jan
uary there was real rush of buying,
but II has now been demonstrated to the
satisfaction of buyers that they can get
what they want at their prices, either
here or abroad and that there Is no need
of hurry to repIenish stocks. There VIII
be at least eight months OF depression
until the Congressional election In No
vember. Then there may be a change.
on the Pacific Coast. Mr.. Maben said
Indian and Chinese steels are beginning 10
take the place of the American product.
So long as a low tariff exists, he pre-
dicted. they would continue TO do so be-
cause of the cheap labor in those coun-
tries.
The necessity of an increase in freight
rates for the railroads was also COM
mented upon by Mr.. Maben. He pointed
out how it would help the steel COM
NAMES. but declared that the boom would
probably only be temporary.
.'Retrenchment by the railroads has
closed a large number Of coal mines IN
the Birmingham district because OF the
heavy decreases in the number OF trains
run" he asserted. "Our own coal mines
are closed three days a week. Our steel
plant IS working only four-sevenths Of
capacitv. that is, four Of the seven FUR
,,..es aro bciney kent bugV.'