The Birmingham age-herald., 1920-11-12

MT. Bowron does not seek to cover up the present state of dullness in the metal trades, but frankly admits it. Among the prevailing causes of present conditions. he mentions high mo ley rates and the demoralized state of for eign exchange. Cuban moratori1ms have affected American dealings with that country and Argentine and Brazil which also large consumers of Alabama mill products, are having their marketing troubles incident to the state of exchange.
 ADMITS LULU
 Admitting the present inactivity of the steel trade, Mir. Bowron took view of the future. and spoke substantially as follows:
 Yes there will be some lconcessf ons in prices of some steel products but not in all of them by any means. There have been recessions in plates, tight sheets and structural steel, but there has been none in small bars, for in- stance. In that line, the manufactu -ers are from four to six months behind in deliveries.
 ''The trade is waiting to see what
 the steel corporation will do. In
 my opinion. there will be no
 marked receSsions in any line, and
 the limit of any recessiOns thnt
 may take place will not bring the
 prices under the level of the steel r corporation. whose scale has been
 under that of inc so-calIed inde-
 pendcDts ever since the efforts Gf
 former Secretary RedficId in the
 spring of 1919 to have n schedule of prices for iron and steel prod --- ucts accepted by the trade nt large.
 The low price rails will prOba-
 ply he advanced $7 to $s . ton. / sThere is a pronounced scarcity of tubular steel The oil companies can not begin to get all the pipe that trey sdernand. Mills are eight months be- hind in deliveries of boiler tubes venture the statement that there is not weeks supply of nails in any whole sale warehouse in the country. as "By January 15 the railroads of
 the country will be able to make
 analysis of their first quarter oper-
 stions under the higher freight
 rates. credits will he easier and the
 trunk lines. in my opinion, will he
 gin real buying of iron and steel
 products.
 "The needs Of the railroads to put them in first-clfsss condition represant billions. Soon after the turn of the Year the raifrc ads will find the fnln- ciers willing co care for their secar- ies, and, in my opinion, there will be | large amoInt of buying on their part. Money IS becoming easier, It is easier already. In five to six weeks from now it Is my conviction that credits will nave become decidedly easier, and tEis condition will have it's effect on enterprises
 HOME BUILDING
 "Another factor to be reckoned with is structural operations. A million .homes must be built. There IS no other answer to the housing situa ion Homes and office buildings have been 'subdivided until subdivision is no long CT possible. With easier money, it is my prediction that there is going to be a remarkable activity in the gtruc- tural line just as soon as spring wealth. CT enables it. That means a call for endless varieties of iron and steel man. ufacture.
 ''The present situation reminds me of sea captain, master of a sturdy vessel timd woman passenger. dur ing a storm asked him with tears in her eyes and quaver in her voica, if he thought the ship would sink Mad am he replied. have been in 100 storms with this good ship and We