Evening star., 1924-04-09
SLIGHT DROP SEEN
IN STEEL OUTPUT
Present Production Meets
Quiet Buying--MiIIs Recov-
er From Flood Effects.
BY }. c. ROYLE.

Special Dispatch to The star.
NEW YORK, April 9.-Iractically
all the steel mills in the great Penn
sylvania and Ohio districts which
were affected by recent high waters
have recovered from the recent ef-
fects of floods. but many of them have
not recovered from the effects of trade
rumora and reports. There is in evil
dence u slight falling Off from the
high rate Of production that existed
in February and March
The most authentic reports indicate
that the March steel production
varied little from the $4,000 ,OOO-tOn q
year rate which was reached in Feb
ru:ry The market condition at pres
this rate viii be continued throush-
out the current month. Ii was in
April of last year that the high rate
of steel production IL this COUNT
was attained.
Character of BuyIng Cited.
However. the general answer OF
steel company officials 10 all com
mrnts is that the present ChaTarter Uf
the buying. while quiet, i sufficient
t. maintain operating schedules ~
satisfactory rate, even though they
fail of somewhat from the record
tlsNS. II II uNiihtlN lHdI Ait' y! ~
uuction OF pig iron. which in March
reached the enormous total Of &,46l.-
l32 tons Will b., maintained this
month Already some Of the FUR
! uacrs which we're operating in March
have been banked. This has been
district.
Tho pig iron market in the Pitts
! burEh section is more staEnant than
had been anticipated and some q
| tn" producers are expressing appr"-
| hCnSiOn Prices ar" showing 4 ten
| dency to weaken. although there has
| been no violent low eriuE Of quota
! tious. There has. however. been a
! precipitaJc drop in scraps ana 1t IL
[ probable that mills could nuy iron
| scrap today at l,.S1 a ton.
Doubtful Note Sounded.
| a decided factor in steel has been
1 ne doubtful reports concerning the
! tutumohile industry. The motor c.Lr
manufacturers turned uut products
AT a rate of 10 per cent higher in the
! first three months Of this E,aE than
| for the first quarter If i9-', hut inc
cruters to have been 80 per cent
| below that Of February.
Some of these reports have not
| been subStantiaied. one rum"r from
! NouH gStp~u declared mat II, Ford
| company had issued orders 10 hold
! ur sheet shipments, I:erortS from
| aUthontiC Detroit sources indicate.
: hoWeyv this pcSs!miSm has been
! greatly oy"rruphaSIzrd Tn, Ford
! output liz March total.G -V5.l55 o.f.rs
! and trucks, a. new ht|h record for
! any month in ia" cCmpauy's history.
| More important St.ii, however. - the
/ fact that l0S.uf0 Of fheS. vehicles
wer" delivered i'll the last ten days
Of the month
Higher Demand.
This would en- to indicate cl-ar-
u that So far as the Ford company
! is concerned III. buying public has
not lost it> appetite for automobiles
il = known that the Ford demand
Today i even greater than during
tn" last ten days "f Marcn. when the
daily average of deliveries was To-
Sui cars.
Sales and production figures 81
Other producers - lille not perhaps
| 50 favorable ~ thoS" Of tn. Ford
company. Sho" thu automobile bust
tnesS still l. going strong. For *
ample. lodge BROTHERS turned out
2l,43H cars in March compared Will
2o.4@4 in February, and officials say
the April output viii he ever
heavier. The Hudson company com
pieted 14.627 cars in March. a:
against 1850 in February while
Studebaker. with production OF
1880 last month. exceeded tht, Feb.
ruary figures by goo.
hallway buying Slowing Up.
| Railroad car buying Of steel has iosI
4 its spectacular character and order
of this type are likely to be seriously
missed this month. There is too vi
| a difference between the untitled
! orders of United States Steel and in.
/ dependents to maintain an eyenneS.
of sentiment. and this is giving ris,
TO widely different opinions as to tn,
nearby prospects of the industry.
Effect Of Dawes Report in Paris.
The effect of the publication il
Paris today Of the reparations ropor
naturally was purely psychological
so far as American business was con.
! cerned, but there seemed a genera
telling of satisfaction in foreign trad,
circles over the businesslike policie!
outlined. and belief that the repor
would lead to better conditions II
foreign markets.