New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-05-28
Trade Revival
Is On, Gary and
Schwab Assert
General Conditions Are
Improving, Steel Lead
ers Declare i'm Talks
40 American Institute
Public Curbs Buying
Wages Should Remain
Unchanged Until Living
Costs Fall, II Is Said

Judge Ebert II. Gary. chairman of
the United States Steel Corporation.
and Charles M. Schwab, head of the
Bethlehem Steel Company, yesterday
made optimistic predictions regarding
the business outlook in this country.
Ihey expressed their views on present
and future conditions to more than
500 industrial leaders at the annual
meeting of Che American Iron and Steel
Institute at the Hotel Commodore.
The country is headed in the right
direction, Judge Gary said, add, al
though the progress toward recovery
from the depressing effects of the war
is slow, he expressed the belief that it
wouiu be more rapid as the days 90 by.
The steel business, he said, was i'm
proving, particularly IN the Western
states
There is nothing the matter with
the country" said Judge Gary THE
trouble lies with individuals. Many
will wait too long for further adjust
ments which will put costs of living,
selling prices, wage rates and general
incomes on relative parity. am not
at all discouraged. Patience, courage
and fair disposition will bring salts
factory conditions in due time
Economy Coming, Says Schwab
Mr.. Schwab said he felt that the
money shortage and business uepres-
sion generally would end with prac-
tice of economy and ii reduction in
transportation and labor costs.
This is a time for announcements
hope and OPTIMISM" he added. eve
will come out all right l have never
lost faith in the future of the industry
of America or in the general future Of
the country itself"
One of the most hopeful signs, Judge
Gary said, was the apparent disposition
of the Administration at Washington
10 aid rather than obstruct the natural
and legitimate course of business. He
said he would not object if it should
be deemed necessary and wise to have
governmental supervision over organ
ized industry to protect the public in
terest, provided the laws would apply
alke to organized capital and organ
lied labor.
Concerning the steel industry and
prices generally, Judge Gary said, in
part:
Some Charges Still Extortionate
assuming the steel industry has
neen tar and reasonable in prices up
10 the present time, it must be admit
TED, L think, that there have been and
stlll are charged and collected for GER
tain comm ODDITIES unreasonable and un-
fair, II not extortionate, prices. They
apply to particular lines and persons.
they do not pertain to the majority of
lines or individuals. The present of
tenders, generally speaking were not
subject to limitations by the govern
ment during the war and thew have
continued and even increased the high
prices they obtained They have done
themselves especially a great injury
and IN doing so have injured others.
This applies in varying degrees to sell
lers of products and also to members
OF different trades.
1he vast majority of business men
and women are sincere and fair but
there is and, perhaps, always will be
minority that ignores the principles
OF common honesty. They are sufficient
to seriously affect the whole situation
Until they are aroused to the necessity
of getting into line with sound and
decent standards of conduct the full re-
turn to satisfactory business conditions
will be more or less impeded.
ut is we'll known that at present,
unless and until wage rates are further
decreased, the costs of many steel pro-
ducers will not permit lower selling
prices. This presents a serious prob
lem. Personally, | think under such
conditions wage rates should not be re-
drced until or about the time selling
prices are lowered. l also believe it
would be unjust to further reduce
wage rates before the costs of living
are lower, not, of course, including the
exceptional cases where the rates are
extortionate, as in many of the trades
particularly.
$50 far as practicable all prices and
rates should be adjusted at about the
same time, so that all interested may
b. justly and equitably treated. if a
general relative basis has been or can
be found then this should be main
tanned whether it is high or low. All
Interests must receive the same con-
Sheraton"
Many technical papers dealing with
various phases of the iron and steel
Industry were read at the meeting
which ended last night with dinner
IL the grand ballroom of the Commo-
dore.
Pershing Commends Institute
General Pershing, VINO was guest of
honor at the dinner, expressed warm
appreciation of the services rendered
to the nation by the institute during
the war, and suggested that Its method
OF organization for the emergency be
preserved in the form of reports so
that steel and iron men of the future
might have the advantage of this gem
eration's experience.
president Harding uttered a sgnif-
lcant remark" said General Pershing,
when he said recently when speaking
of the war: 1t must not be again
Our people deplore war and there is a
very earnest desire throughout the
country for an understanding through
which the chance of armed conflict
would be reduced
+ "But we must realiye that a mere
wish or desire will not of itself keep
US out of war, nor will a careless neg
lect of preparation prevent it. The
desire must be general and the under
standing among nations complete"
Siackers Not Surprising
1t is not surprising, General Pershing
said, that the draft developed slackers
N the numbers indicated by the lists
now being made public, if the ease with
which aliens of all grades obtained en-
trance to the country and the failure
in many parts of the country to edu-
cate them properly were taken into con-
sideration.
rro,;daJ 81 AZ