The Birmingham age-herald., 1924-10-25
GARY PREDICTS
 RIG SyEEI. ,R0OM
 AFTER ELECTION
Proper Men Must Be Given Office Nov. 1,
 He Says
tBy Associated Press.)


 NEW YORK, Oct 24-Busin e conditions during the next four years depend largely upon the result of the coming election, E. H. Gary, chairman of the United States Steel corporation, declared in his presidential address to the Ameri:an Iron and Steel institute today.
 "Eyery well-informed business man or woman," he said, knows that Ii the Lest men are elected there probably VIII he continued and increasing prosperity ; and if others less capable are elected We may expect depression and disturpanGes in business-less production, more iule ness. less comfort, more distress;
 MT Gary said he was convlnced tne ,,ublic had been right during the last few months in believing the election re- t,,r,,s would be satisfactory, as shown 'hy the steady and persistent increase III ,ba .yo,IIme of business. With such ,osr,t he added, the country could LOOK forward through the autumn and sue ceeding months with hope ana conii- dence.
 "Our shin of state is too great too t;r. too solid. substantial and strone' be declared. ito be pronounced ui,sea % --,ortbv nm the words of unscrupuious' ,',';nt talliqent or inexperienced men.
 Cites Qualifications
 or+l;ning qualifications which ne pc ,;avo5 n nresident of the United oIates sbonld possess Mir. Gary said:
 "He should be willing to lend ms in- flpence and devote his talents 10 leei, t;mate business progress and geheru1 nrosnerity and likewise to prevent anu nenalize corruption and wrong' c shoIIld endeavor to assist ana u pIo tect the poor, the weak and the suilgi ilo ing and at the same time snoulu "J wiling to help the rich, the strong anu the happy when it is indisputaOlS fiSn' to do so. e..
 p,.y,nAss thrcu :hout the United States sos shoJSn q iiersistent, though some ,rbet irregular, erowth since last May when .be yelule expanding eacn sue eeejiI,s month, according to MT Hary.
 n, 2 ,Ds;dary companies or the cor noration whici, possesses sometnlhs leSS I1 than orc ha,f of the capaclty or uI ,t manufacturers in the Unlted otaIeS' he continued, "sold about 2,OOO tons per day more of steel in June than III way, way, about 5000 more tons per gay III 'uay than In June duOuI AN!N dew more in August than in July, about q TIoN tons uer day more in September tban in August and about 5,OOO tons nar day more in the first 17 days or October than in the first 17 days ID September. .
 "Partly due to spirited competition in selling and partly to other causes' tne net cash results during the last quarter have heen somewhat less in proportion than would be indicated by decrease ln tonnage alone.
 Substantial Profits
 "This undoubtedly will be shown by the accounts of the Steel corporation ---Na-1 +hcv are made up. Unfortunate ly if is mcre pronounced as to some or f,9 ;ra.ne ndent manufacturers. AS to tbs -.fs..ea ion it is believed the profits 5o- q. .Eet quarter were substantial eotwi,' ting the adverse influences sdEerted to-"
 Reviewing the Pittsburg plus case which Jed to the abandonment Of thls -rice-basing practice, Mir. Gary eau tioned the manufacturers against ap- pealing to the courts for remedy oe- fore they had given the matter patlent and painstaking thought
 He said that in early days because of the proximity of ore and fuel sup, plies, iron and steel manufacturing ana consuming enterprises sprang up in the central coast states with Philadelphla as the center. Later steel manutactur- ing operations were centered ID Fltts- burg. which became the base.
 Had it not been for the Pittsburg rius plan no steel mills would have been erected in Chicago, he said, because the return on the capital investment would not have justified it. A change in production methods later enabled $ Chicago to compete with Pittsburg, bringing the cost of production to about the same level in each city and leading to objections that middle western com munities were discriminated against be- cause they were forced to pay freight rates from Pittsburg on steel shipped from Chicago.
 Industry Won't Suffer
 He expressed the belief that the en- tire steel industry within reasonable time would volp6tarily be operating on a basis comfortable of the opinion rem dered by the federal trade commission in abolishing the Pittsburg plus method.
 If we are patient and reasonable, he said, Eve shall find the industry, taken as a whole and including both producers and consumers, will not sui fer materially by reason of the ehmi- nation of the Pittsburg plus system.
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