The Birmingham age-herald., 1921-07-29
For Good of
 the Community


 conviction by making ready to blow in an- other blast furnace.
 The step was compulsory were the Woodward Iron to continue the business of supplying it's customers with metal It closed down early in the spring entirely but was soon forced to blow in one stack on account of bare stock yards.
 Now it's yards have become distress ngly bare. Only the days make of one stack is on them. To accommodate it's customers and remain in business another stack had to be fired.
 The Wall Street Journal throws out the hint of a sellers market" The buyers have had it their way so long that manu- facturers drew in their horns There is little of any product on hand. With any thing like an approach to normal the sell lers will have something to say about it.
 The buyers had reason to hold off, to strike. They had a just claim on lower prices. Lower prices came and many sell lers found themselves finally unable to produce at profit. There the ebb and the flow tides have met. A brief stilly period and there will be turn.
 While we are starting another blast furnace ln Alabama, dispatch from Pittsburg says ''six blast furnaces of the Pittsburg Steel at Monessen have re- Sumed and the MOneSSen plant of the Pittsburg Sheet and Tin Plate company will resume August after an idleness of three months
 Rogers, Brown and Company report increase both in inquiry and sales of pig iron and disposition of the melter to look ahead for his future supply.
 One of our cast iron pipe shops is on full turn and one of our structural steel con- cerns is on full turn. Another steel works is preparing to oresunae. Insone way and another the industrial horizon is brighten ings
 The Wall Street Journal says: "Ad- vices from Youngstown, Pittsburg and other steel centers during the past few days confirms the general impression that the low point in steel sales has been turned" What Mr. Crockard has said is substantiated by high authorities in the east
 And wouldn't we rather have a re- bound than the continuous deflating pro- cess through which we have gone? Dove realize that much as it has hurt the little fellow, it has injured the big one just as much? Don't we want the big ones to be- gin making money again so that the rest of us may also make money?
 For the first quarter ending June 30, the Republic Iron and Steel company re- ported deficit after taxes and charges of $883,673. That is the same as saying that it went into financial hole of that depth during three months of operations,
 For the first quarter of the year it was bare escape from deficit. It's earnings were $104 ,O00, or 43 cents share That isa pauper yield for stockholders. It com pares with $622 a share in the same .>c iod of 1920.
 For the first six months of the year the deficit after taxes and charges is $779,- 062, compared with earnings of S10.69 share in 1920. Which do the people of Alabama prefer, the deficit of 1921 or the dividends of 1920? Shall it be dividends and furnace operations in Birmingham giving employment to thousands, or de- ficits and stacks whence no smoke issues?
 It has tried every soul, but it has also opened many eyes and clear vision has come to many of the purblind. We shall make new start this fall with a better understanding of one another and eech will rejoice that the other is beginning to do well again. because he has finally and