The Washington herald., 1921-04-17
Business-Industrial Resume.

freS0entS
Contrary to the Presidents intention. his remarks
eoneerhins our foreign policy have received the most
attention IN the comnents which have appeared. This
shows clearly that the country whole regards the
settlerhent Of foreign affairs as most important
problem The country appears to be particularly well
satisfied with the announcement that the adminisra-
lion win attempt to raty the Versailles treaty and
will not consider the negotiation Of separate peace
with Germany. No results Of importance expected
20 follow the proposed adoption Of the Knox resolu-
lin deciaringa state Of peace exist II seems clear
that definite treaty must Be signed which will FIX
ONT rights and future activities with regard to enemy
. countries
- Tax and Tariff clauses -
The two most important comments in the mes
sage concerning domestic issues are those which deal
with taxation and the tariff. On these points the
Pfesideits views pretty well understood before
hand and the message contains little that is new. The
urgert request for early revision Of our laws has
been well received Business In general are mot
90 eeetaiF about the advisabiiy Of the emergency
tariff act which the President strongly Recommended.
Many persons believe that the emergency for which
this is designed has passed and that the Increased
tariffs will only result in higher cost Of living with
hspro6ts going chiefly to SPECTATORS and manufac-
tuners ss.s .-... sr's .,.,,-,. , ....a -..t
Steel Prices Reduced. -.... IT,
Aside from the Presidents message, the most i'm
portant development of the week was the announce
ment Of reduction in prices BY the Upited States
Steel Corporation, The steel corpofation has consist
emily adhered to the prices fxed BY the Industrial
Board announced in March 1910, During the early
part Of 1910 the independent steel mills were quoting
prices very much above this level Since the period
Of depression began independents have their prices
far below the steel corporation level The .priees
81 the corporation show average reduction Of about
$zoo per ton. which brings them to about level near
that quoted BY Independent concerns. =:
~ II Is believed that this price reduction will have
ind
Judging BY past experience further reductions
20 be expected from the corporation for some months
Consequenty steel consumers go ahead with their
plans ON this basis. s.2.t 5,s y. "a.
So far nothing has been said about reduction in.
wages by the steel corporation but Il is believed that
eyeptuaily some announcement will be made on this
subject also, The fact that week ago the Midvale
Steel and Ordnance Company passed their regular
quarterly dividend and the further announcement this
week that the earnings Of the Lackswanna Steel
Company for the last quarter amounted TO only q
cents share indicate that steel companies are not
prospering, under present conditions. +e.,s,
SIS Drop in Steel Prodpction "a 81 & IL,
The American Iron and Steel Institute has an
louneed that the total production Of steel for the
thirty companies reporting to them amounted 70 I,s7o
178 tons in March. 1921 compared to 3.2ooo4o tons
n March year ago. The ingot production in the
last month showed drop Of I7S4oo tons compared
with February or decrease Of little over 10 per
cent The steel corporation has also announced that
It's up6iied orders the end Of March amounted to
only 6a4S76s tons, or drop Of 64o.Ioa tons com
pared with the end Of February. In March, 1870 the
untitled orders Of the corporation amounted to oSozo7s
tons 81 Sr.5 (,
y British Labor Troubles,
No settlement has 50 far been reached regarding
the strike Of the British coal miners. As matter Of
fact the situation has become much more serious
towards the end Of the week. although every effort is
being made to bring about kind of agree
ment Much confidence is being expressed in the
ability Of Lloyd George to handle the situation sue
eessfulIy. His offer to, take the whole question Of
naturalization Of industries before the country in
national election Is regarded distinct gain for the
government II is reported that than 100000