The Birmingham age-herald., 1920-07-03
Daily Financial Gossip
nN nni.IAND.

sands are idle nevertheless there is no disposition to reduce wages. The manu-
 lecturers would be glad to continue the
 present rate of wages and yet workers
 are idle. Of course this condition can
 net last. But as long as the world de-
 mand for iron and steel, food and cot
 ton continues to be as great as 1t now
 is the demand for labor will ce sure to
 maintain the wages paid for it.
 STEEL AND IRON PRODUCERS
 Few persons realize that the united
 States. Great Britain and in the past
 Germany produced almost hundred per
 cent of the total iron and steel output
 of the world. To make up the full hum
 dred per cent Belgium must be reckoned
 with But while Belgium is hastenlng
 to recover it's iron and steel industry
 Germany is producing no steel, and VIII
 not produce any until raw material ana
 stability of government are secured. m
 France iron and steel production IS al-
 most negligible because France depends
 upon German coal and also because in-
 dustris. dsorganization has impaired Frances productive capacity
 OUR GREAT COMPETITOR
 Iileh authority sas recently asserted
 that the only active competitors in the
 marlsets of the world for American iron and steel are the manufacturers of this prodrct in Great Britain. There the naurfa acturers are speeding up produc- ton They have much to dc before theN reach the figures reported Tn the year 1915 But in Great Britain they are working with diligence and in the uhl'eu States they are working because the de- mands for iron and steel are incessant' Tn all probability the American pro- duction of pig iron in this calendar year w,ll be equal to, if not greater thah' .ne enormous production reported Tn i9S. The exportable surplus of the unt.eo States, however, may not equal the Ier- man export which began several year : before the European war broke out ana noe continued until 1914 when it stopped, I President Farrell of the United Sta'es Steel Corporation learned when he was huilding up the export trade rom 'ho limited States in iron and steer prou- nets what the peculiar and dlsthsu,S" ing characteristics of the German saieo men who were reaching out TOT 'ne 'n vorld's markets were. Many Of them
 aotad mon the principle adopted by Ger ,,,an saIesmen that as all is fair m war so a1so all is fair in the world trace. Tbev did in this way almost ~'commahu ,,9arlxets in Australia. the far east anu contb America Nevertheless MT ar rell went on maintaining hohoi aoie . American business methods ana these heve stood him in good stead for m the markets or the Woiiu ,;rr1, and iron products are rated very hien tbe statements of the salesmen are re- ceived in nerfect confidence Ihe out 1oots is that the United States Will gam nre-enoinence and maintain 1t in expor.s
 ef ;ron and steel Our industry or tnls Kind has the natural resources, side ps eide as in the Pittsburgh and m .ne Pirn,ingham districts. It also IS equippea with the best modern machinery ane VI ,,orfected a wonderfully skillful Tor eign trade organization. Sti1l the wonder retains how the res' | oe inc world is to find means whereps thev can pay for American iron ano | steel The inference is strong that the leaders in the American industry are | aiding their customers by the extension l of sufficient credit.