The Birmingham age-herald., 1914-10-30
BRILLIANT BANQUET CLOSES FIRST DAYS SESSION OF THE IRON
 AND STEEL INSTITUTE
.continued from Page one)

of greeting our many southern members
 in their own environments, and visiting a
 number of their plants In the limited timo
 permitted us. The far famed hospitality
 of the south has been demonstrated by
 the cordiality of our reception and we are gratefully indebted to our members
 and colleagues in Alabama for the plans
 which they have made, which insure that
 this will be one of the most notable oc-
 casions in the annals of the institute
 The papers read today have been of
 exceptional interest, and the thanks of
 the committee on arrangements ana of
 the members of the institute are cordially
 extended to each author.
 Those of us who have visited Birming-
 ham before. notwithstanding our general
 familiarity with the steady progress of
 It's industries. have been amazed at the
 actuality as revealed by what we have
 seen and heard and have come to ap-
 preciate that our expectations were but
 half the truth There are probably few
 instances in the history of civilization of
 an increase in a citys population from
 $500 to l33,000 in a decade. and close
 to 100000 population in some 15 years,
 when such increase has resulted not from
 mushroom growth based speculative
 possibilities, but upon the solid founda- sources and the expansion of business in- terests allied thereto.
 Advantage to South
 That the extraordinary development of
 Birmingham Is largely due to the iron
 and steel and allied industries Is a grati- fication to the members of this institute; that this development has been of enor-
 nous advantage to the entire sotuh, and
 to the country cannot be gainsaid: that 1t has been reflected in other manufac- turing lines, in the improvement and in crease of transportation and banking facilities; that 1t has quickened the art cries of commerce in every state of the south. is patent to all observers.
 "The history of the development of the iron and steel industry in Alabama is contemporaneous with the history of the transition during the past 15 years of the south from an agricul- tural to manufacturing section and when one city alone can increase by
 means of the extension of its indus tries, It's population and wealth from 300 per cent to 500 per cent in such a short period 1t offers a constructive object lesson to rival cities of the north and east in respect to friendly supremacy in manufacture.
 Not only have these achievements been of pronounced value to the pro- gress and wealth of the south and of the nation. but it's effect has been felt upon the markets of the world. It is perhaps not generally appreciated that the south is one of the greatest ex- porting sections of the United States. The export of its cotton alone last year was twice the value of the total exports of iron and steel from the Uni ted States but in the export of iron and steel the south, and especially the Birmingham district, has demonstrated that 1t Is factor to be reckoned with in competition with the manufacturers of the world. It's pig iron and its rails Have found their way In increasfng g quantities to China and Japan, to Aus tralia, South Africa and South America, and 1t Is even now executing orders for rails for Siam. billets for England. pig iron for Italy, Japan. Australia and other countries.
 Is Recent Development
 This has been largely development | of the past seven years and that such progress and achievements have been made in such a short period augurs well for the future of the industry in l its relation to the markets of the
 world, considering, as experience has demonstrated that with the expendi- ture of large sums of capital for pro- viding the necessary equipment, ad- vantage may be taken of the remark
 able natural proximity of the ores coal and limestone In producing steel and l iron at costs which permit or compet-
 ing with the manufacturers of Europe.
 'The facilities offered under the federal reserve act in permitting discount privl- leges to foreign paper and the establish ment abroad of branches of national banks will rebound to the advantage of
 the domestic and export interests of the
 south as one of the few difficulties still remaining to be overcome in the extension of foreign trade is the question of finance
 and credit As mentioned before. the
 south Is more largely concerned with re- spect to our foreign commerce than any | other section of the country, due to the
 necessity of keeping open it's foreign ave-
 nues of commerce for its cotton, lumber, phosphate rock, sulphur, iron and steel
 and hundred other commodities. There
 is no lack of shipping facilities and new | lines have already been established from gulf ports to the far east and the west 1 coast through the Panama canal, and other lines are in process of formation | The canal has opened wide the doors o 1 opportunity for the south to the possibili | ties on the western coast of South Amer 1 lea and Central America and also to ouI western states and British Columbia.
 ''In considering this position of thu l south as a factor in the commerce of thu I world, many members of this institute | will naturally think in terms of pro | found sympathy for our brethren in thu l European steel industry now engaged 1T what seems to us. in view of our forme close friendship with them and theirI with each other, a fratricidal struggle The great calamity of this war and it evil effect upon oun0lves in common witl