The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-01-04
The Steel Industry ds Related
to the oil Business

wv. j, Garrod, Purchasing Agent
for II. +. Wilcox oil a. Gas Coz
THE past few days the steel and
pigiron market has evidenced de-
pressing condition due in part to the
usual inventory situation that pre-
walls at the close of the year, and
also for another reason that buyers
are still reluctant 10 commit them
selves at a time when many of the
prices are unfair and also for the
expected reductions due to lower la
bor and transportation costs.
The recent decline in most prod
ucts and In pipe are movements in
the right direction. The, present
prices OF pipe will undoubtedly hold
good for q while but as a matter of
| fact they are 10 per cent or more
higher than prices prevailing in
1914-1915, whereas the prices Of
common steel, such as bars, plates
and structural steel have declined to
a point only about 80 per cent higher
than the pre-war period, 1t Is quite
| evident therefore that the price of
| pipe is still out of line and higher
| in proportion to other steel prices.
and even though future reductions
in labor and transportation develop.
| consumers have a just reason to de-
| mand immediate reductions. The
| entire steel market is not brisk. Sew
eral mills are offering lower prices
| for immediate business.
| at will necessarily follow that
much labor of various types enter
| ing into the basic materials and
production of steel, as well az trans
portation rates. will be materially
reduced before industries can be put
| In "A position to manufacture our
various necessary commodities at
reasonable prices.
The efforts OF the labor leaders
and the railroad labor organizations
to resist wage reductions must be
defeated, IL we are all to enjoy reas-
enable prosperity. As a people we
cannot prosper with organized mi
norities exacting tribute for sup
plies and freight.
ut IL not perhaps very we'll un-
derstood that the recent reductions
in automobiles were largely prompt
cd by the activity OF the Germans
In this class OF manufacture. our
automobile manufacturers recognize
that German competition has reaI
teeth. and that they must meet the
situation by lower materials and Ia
Dor manufacturing cost, or suffer Q
reduction In their volume OF busi-
ness. our coal operators. and Ia
borers are facing the same kind OF
competition from the same source
Coal is now coming 10 our eastern
shores as ballast from Germany ano
wales, and sells in the open mar
ket for less than the cost OF mining
and transportation OF our own pi'
luminous coal to tidewater cities
We have been large exporters O
coal, but In the present situation
what Is our Cltlook Tor eNpoitine
this ccmmodity--ab NIL, bu
in the meantime our coal operators
are working under agreement
about the same as war wage scare
which will continue for about tnre'
months. except of course where non
union mines are operating. Govern
ment statistics tell us that about ~
ner cent of our bituminous coal II
, nroduced by non-union help.
"Delays in adjusting transpofta
tion and labor costs TO pom
wherein the consumers can compet'
with this foreign competition ar
, extremely costly to the entire ma
tion. and during the delay the hatlo'
, across the water Is gradually get
, ting a firm foothold, and propor,
, tionally undermining our PoSs'o''
! itics OF. early recovery s
/ "The year OF 1929 can De nlau
\ a prosperous one for US aU' an
: with capital willing 10 take the ven
/ ture Il falls upon US as peopl
10 look at the matter tairly' pnoe,
| stand exactly what must be auJuA'
ed and then act