The Birmingham age-herald., 1915-12-17

made in October by one of the officers of this corporation that diigent attempt
 had been made to trace the commodities
 from the plants of the Steel corporation
 to the plants of other manufacturing com
 panies, and it had been learned that be-
 tween 50 and 65 per cent of this new busi-
 ness was represented by orders that came
 from manufacturing concerns engaged in
 making war munitions. With the purpose
 of those who bought the corporations
 commodities the corporation had nothing
 to do. On the whole, the management
 was steadfast to it's purpose not to en-
 gage directly to any extent in manufac- turing war commodities.
 2. In the next place, this officer is per- suaded that the reflex action, the reac- tion, so to speak, from the Steel com pany's plants has been of no small stim- ulus, so far as general industry is con-
 eerned, although this relation is sort of give and take one. For domestic indus try, he said, would not be placing orders in large amounts not only with the Steel corporation, but all or the independent companies (for the independent com panies are doing, relatively speaking, as well a S the Steel corporation) had there not been a revival of business and indus trial activity. From this point of view the axiom that the steel industry is the barometer in trade" remains true aX- iom.
 3. It was also said that the ability of this corporation instantly to meet the sudden and very great rush of business which began late in the winter of 1915 expended some part of it's earnings in preparation which would enable it to meet increased business demands. It has, however. been careful in it's expenditures of this kind, always seeking not to over
 do expansion. This policy was illustrated
 some years ago by the establishment of
 the plant on the southern shore of Lake Michigan, where now stands the city of Gary. It has been also illustrated by the establishment near Duluth of a plant which in many respects is the finest-cer- tainly the most modern-of all the plants occupied in the manufacture of steel com
 modities, Elsewhere preparations have been made, always with careful investi- gaton upon which there could be based
 reasonable judgment about the growth
 of the steel industry. It was a judgment of this kind that led Charles NJ. Schwab
 to predict that before the year 1920 the
 United States would be able to report a
 The output now is within 100000 tons of this forecast. How accurate the judg-
 ment of the leaders in the steel industry
 was is demonstrated by the fact that
 some of those who have placed orders, not
 disputing the price, have in consideration
 of early manufacture and delivery agreed
 to pay a bonus of much as $10 in
 some cases. It is thought to be true that many of the manufa curing corporations
 occupied with filling war orders have re-
 ceved offers of considerable bonuses in
 consideration of very early execution of
 the contracts. This fact is regarded as refuting a statement made a few days
 ago at a meeting of trade association in
 this city that there was much wincing at
 the prices demanded by American manu-
 lecturers from foreign purchasers who were disposed to say that often the terms
 were harsh and unrea sonable.