New-York tribune., 1919-05-24
SteelOutput May
Break ALI Records
In 1919, Gary Says
Tells Institute Members Out
look for Industry Is la
vorable: Mills at Capacity
by Fall, Il Prediction

exceed all former records. This declar-
alton OF Ebert II. Gary. chairman Of
the United States Steel Corporation,
and president of the American Iron
and Steel Institute, at the annual meet
ing of that organization in the Hotel
Pcnns ylvania yesterday, brought forth
an outburst of approval from over a
thousand makers of the country's basic
material.
The steel manufacturers expressed
themselves as being more optimistic
over the business outlook than at any
time since the signing of the armstice,
despite the fact that no great buying
movement has yet developed. Current
inquiries, in their opinion, indicate
that an abnormally heavy volume of
orders is pending. 1t was predicted
that the ralls would be operating at
100 per ccnt of capacity before fall.
Expects Higher Prices
Judge Gary, whose remarks concern
ing the outlook in the steel industry
we're contained in his annual address
20 the members of the institute, gave
the impression that prices are not to
remain long at their present levels.
was evidenced in the copper market,
where it is expected that the metal
Will be selling in the near future at
90 cents a pound. In his prosperity
talk Judge Gary said:
"Snce the armistice was signed the
steel industry has made two substan-
tial reductions in selling prices, first
by voluntary action, December 9, and
chen. March 21, after consultation and
discussion with the members Of the
industrial board of the Department Of
Commerce. There are incidents con-
nected with the efforts of the Secre-
tary of Commerce to stabilize condl-
lions which interfered more or less
with business activity.
cat present there is q perceptible
and gradual improvement. 1t seems
probable this Will continue and in
crease. On the whole our business dur
ing the last six months has been better
than we had reason to expect. After
what has occurred during the last few
years it is wonderful that conditions
are so good. AS I have said before,
more than once, there is large and
profitable busnes ahead The necessi-
lies of the purchasing public are piling
up Some may wait too long before
placing the orders under contempla-
ton.
CAS- you are aware, the wheat crop
f the season is enormous-far above
PREVIOUS aculations-and it will soon
9 harvested, thrashed. transported and
converted into cash. This will provide
BUSINESS and money for the carriers.
What they will do with it cannot say,
sut they will probably make some nee
nssary improveme in roadbed and
quipment.
"Other crops will soon be coming on.
rom present appearances the produc-
ION this year will exceed all former
records. The price of copper is In
reasng 1t is expected in the near fut-
IRE to be selling at 90 cents. Most, If
'lot all, Of US are making expenditures
preparation for the future business
hat is coming.
Pessimists Rare
Go into the large hotels and wit
.ass the crowds. Secure a room if it is
possible. and then make inquiries from
Jewellers from the far West, South
lest and South, and you will hear good
eports. They have confidence in the
uture and are acting accordingly.
-.ook for pessimist. You will find
i.at he is q rarity. Enter a jewery
tore. or retail stores generally, and
Oh Will be surprised at the number of
urchasers.
Gaze upon the throngs of people in
1e city streets and the double rows
cf automobiles going in either direc-
-.on. Visit the country and be aston
shed by the number of motor cars
Aqure for house in New York which
for rent or sale and see for your
If that they are scarce and that
rices are advancing. 1t is remarkable
ow many evidences of business &C
..vity there are.
There is still room in this country
or the optimist, but little space for
ne pessimist. If the tax assessor and
eollector will only permit US to retain
little fairer percentage OF our earn
ngs we shall be happy; and we are
eginnihg to see a CLEAN of light on
ais subject. Patience and confidence
re justified, and, with these, great
rosperity is assured"
Steels Part in War
Judge Gary preceded his remarks on
ne business outlook by resume of
e part taken by the steel industry In
1e defeat Of Germany and her allies.
eferring 20 the efforts at cooperation
IN government agencies in the sue
ssiui prosecution OF the war and the
'nierences over matters Of detail. he
id:
We have been convinced that gov
fnmental representatives who dis
greed with US were right and that
'e were wrong; that because we were
nancially interested and they dis,n-
iefestcd they had the ADVANTAGE in do.
ate and judgment. We must give
eai' 70 them for unbiased and in.
is'gcnt consideration OF our affairs
should remember and profit by ou,
perence in Washington during fhe
- eighteen months Of the war We
ways intended 10 be fair and reason.
-, but were sometimes mistaken"
Judge Gary told his hearers that tbose
fcctly connected with the cruel a nd
irninai offences against humanity
sring the war should personally re-
ass, even capital punishment. not
aDir5t Of vindictiyeness or REVENGE
ut az an example TO deter others from
preparation of crime which II rec.
ftsy t..fl