Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-18
OUTLOOK IN STEEL
STEADILY IMPROVES
Leading interests Feel Industry
Stands on Threshold of
Great Revival

New York. Oct. 1S.-The outlook for
the steel industry is steadily growing
brighter and many of the leading inter
eSts feel that the country stands on the
threshold of great revival in this line
of activity. =.
The strike has virtually ceased to be
a factor. The walkout of month ago
has resulted i'll Il miserable fizzle as lar
as the unions were concerned ana the
refusal of the American workingmen to
join with the anarchistic foreigners has
greatly served to strengthen the posi-
ton of the conservative labor element.
The strike, and the way in which it re-
suited. has served to IA large extent to
correct condition which was most
objectionable to the leaders in the steer
industry. and has eliminated factor
which. for long while, operated to uh
settle the industrial outlook.
Dpspite the cXtravagant claims OF the
radical labor leaders. there is evidence
on every hand that The strike has been
reduced to the vanishing point, Many
of the mills are operating at the same
ratio of capacity as before the strike
began. while others are rapidly ap-
preaching normal.
There is only one cloud on the horlzoh
as far as the strike situation Is con :
ccrned. This is the fear OF potitlcaal
muddling which may snatch the fruits
of victory from the stee! compahies. nf Fe
movp to interest Washington i'll an ef-
fort to bring about arbitration appears
to be the most convincing indication OF
thc failure of the strike. Judge cary;
chairman of the United States steer
Cornoratiou. has stood firmly against
any form of arbitration in the striKc
and now that the strikers have lost the
only effect of interference by WASH
ington would be to redeem to some eN ,
tnnt the loss of prestige of the deteateo
,nions and their leaders. >, .
The demand for steel in all r0rnlS
continues undated Inquiries Wnlcn
are coming to hand have led TO the De
lief that there is ample business aheho
TO keep the mills running Tor twelV.
months This demand has come upon
thn mills at time when production
wos curtailed by the strike. The recent
rcports of the larger steel companies
which showed increases in unhlied OF
ders ot the close of the third quarter, Is
regarded as a striking index OF the cours'
I'of the tide in the industry
There remains the latent demand lol
stool from the railroads Sooner OF
later thp carriers must come into thS
| market for steel. In we'll informed
quarters it is regarded as likely that the
railroads have nothing to- gain through
the DELAY. While waiting for the car
riers to seek tonnage the mills nave
| plenty of business.
With the demand mounting and th'
| sunply limited, the natural Inference
would be that prices would advance
There is little doubt that these condi
| tions will insure firm support for quo
totions. but the heads of the principa
| steel companies are known to be agalns
any advance in prices.
The spectacle of rising prices for
steel and its products would be
frowned upon by the conservative steel
| men. They believe that these advances
would serve only to further aggravate
! the present problems of labor unrest
and the living cost. With the outlooli
for large volume of business. the
opinion prevails that the steel compa
| MES are reasonably certain OF goot
earnings in 1920.
Some apprehension has been caused
by the threatened strike of the soft
! coal miners which has been set fol
! November l. The production of Goa
is essential to the steel industry ant
l no effort has been made to minimize
the embarrassment accruing to the stee
plants were the fuel supply cut off
Notwithstanding this, there appeared
no general concern in important quar-
the steel men seem willing to pin theil
hopes upon Washington to prevent thu
walkout of the miners.