The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-11-19
BUSINESS r f N D
ENCOURAGESGARY
steel Head Says Last Six
Months Have Reflected
Steady Gains
SANCTIONS ARMS CUT
Demand for Steel Will Not
Decrease Much, but Bene-
Git Will Be Incalculable

NEW YORK. Nov. 1S.--"De-
creases In the demand for steel. II
any. will be small" while benefits
derived from peaceful condition re-
shifting from limitation of arma-
ments would "be beyond calcula-
lion H.. H. Gary, head Of the
United states steel corporation. told
Members Of the Iron and Steel insti-
tute today
More Reductions Necessary.
tudge Gary intimated that fur
,ber reduction in the cost OF living
and in wages paid 20 certain CLASSES
Of labor was necessary. lie said
that business conditions we're grow
ing better perceptibly." but he would
moi commit himself when normal
business activities might be expected.
In discussing Mexico. Judge Gary
declared "the government 10 the
south Of us was now n stable one"
and that IL deserved recognition at
The hands Of the United States"
He said there was still too much
profitecring aud he advocated gov
prnmeutal supervision In various in
dustrics to stop IL.
Taxes are much too high, the steel
head asserted, and urged lowering Of
income taxes and the adoption OF a
federal general sales tax.
After lauding progress made at
the Washington arms limitation CON
ference. Judge Gary said:
The suggestions by some that
there would be less steel manufac-
ured as result OF armament limi-
lation. are unworthy OF even passing
In -
amount Of decrease. IL any--which is
doubtful would he small and even
though 1t might be large. no sane
and right spirited persons would
conside: pecuniary interest as one OF
any Importance when discussing ma
tional or international welfare.
Judge Gary said an agree ment 10
limit the number OF capital battle
ships would he a great step forward,
but It would not seem to be prac-
teal 20 stop with less than a final
treaty which viii prevent future
wars
in addition TO what is contem-
plated by the limitation Of arma-
ments there should. with other
things be an understanding that II
any International differences arise
no resort 10 military force shall be
permitted until after there has been
conference and full discussion by
oil the nations now participating in
the deliberations at Washington, he
said
Business Getting Better.
AS to the business outlook, Judge
Gary said.
1T seems to be generally conceded
that business conditions throughout
the United States for the last six
months have been pcrceptioly and
steadily, II slowly, growing better.
In the steel industry. the volume of
business has more than doubles in
the last 30 days, although profits
as a rule have been little or nothing
due 20 high costs and low prices.
Resources OF this country are so
enormous and the necessities Of the
consuming public are so expansive
that there must be continually trans
acted large business, even though
II Is small wnen compared With
maximum periods"
The steel head said II the arms
conference makes an agreement saw
Ing 80 per cent OF the armament eX-
penditures. the saving would be
prodigious.'
But II an agreement to this ef-
feet is made" he said 'it probably
will go much farther as 20 :he
amount And even better than this
u will cover principles which will
tend to conserve peace, friendship
and good will. which Is of inestim-
able value to all nations"
Judge Gary blamed middlemen
more than any single class, Tor keep
ing up the cost OF living
The people will not long endure
the existing situation" he declared
In fact. they cannot"