Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1926-01-01
ORDERS
SHOW GROWTH.
GARY ASSERTS
Bankers Optimistic Re-
garding European Sit
uation; Business Con-
ditions Sound
CBv The Associated Press }


NEW YORK, Jan. l.-Prc5ent bust
ness prosperity will continue well into
1926 in the opinion Of leading bankers,
and industrial leaders.
Forecasts for the new year prepared
by these executives regard fundamental
business conditions rs sound. lay stress
on the Administrator business pol
icies, and arc hopeful regarding the
European outlook.
The business Of the manufacturers
of the iron and steel industry Of the
United States during the year 1925 on
the whole may be onsidered good, so
far as the volume is concerned" said
Chairman f. H. Gary Of the United
States Steel Corporation. For large
portion Of the year the selling prices
were lower than they ought to have
been, and many manufacturers operated
without much profit.
The wise and conservative state
ments Of the president from time to
time have been an important factor of
encouragement to the general business
fraternity.
The apparent change in attitude Of
many Of the national legislators, par
ticularly with reference to economy in
administration and more especially tax
alton and the decisions of the Supreme
Court concerning business, showing a
disposition 10 assist legitimate business
progress, have created a feeling Of con
fidence on the part Of investors.
Steel Orders Growing
At present the demand for iron and
steel products is large and growing in
strength. Selling prices are improving
somewhat and there is reason to expect
they soon will yield to most manufac-
turers considerable profit The pros
poets of this industry for the year 1926
now seem TO be very good Unless some
unforeseen circumstances arise to pre-
vent. the general business situation in
the United States during the coming
year should be satisfactory"
The petroleum industry has been in
more than four years,' said Henry l..
Doherty, one of the largest independent
producers in the country. Prices have
frequently been highly dcmoralized and
none Of the former rccoveries Of prices
have carried any assurance to any
thoughtful man that they were certain
to be permanent"
The outlook at present is more as
surng than ut any previous time in this
period. Our principal troubles have
come from the over-producton Of do
nestle crude. Production Of crude has
remained practically stationary for
three years. Production in 1924 showed
slight reduction as against 1923 and
1925 will show only slight increase
over 1928.
During this period our markets for
higher priced products. principally gaso-
line, have grown immensely and prob
ably beyond everybodys expectations.
Gasoline consumption is now growing
much faster than the growth in regis
tered automobiles. due principalv to
the growing percentage of busses and
trucks. The adoption Of oil for house
heating is now literally sweeping the
country. No accurate figures are yet
available on the consumption Of oil for
house heating, but this new market pos
sibly has been increasing more rapidly
on percentage basis than our CON
sumption Of gasoline for automobiles
has done.
The petroleum industry by nature
and by government activities is prob
ably more competitive than any other
| industry. When we get ready to de-
velop our markets by cooperative effort
we will find no problems cannot
master, and the business will prove
safe. stable and profitable. We may
again have slumps until we get things
| functioning on a cooperative basis but
our slumps should he temporary and
when we get on a thoroughly cooper
ative basis, slumps will be thing of
| the past"
/ There are many reasons to believe
that the next year Will see a continu-
ance Of the steady growth and develop
ment of the electric industry" declared
| Sidney r. Mitchell, president of the
Electric Bond & Share Co. The year
lust ended has established new records
in the amount Of electricity generated
and used in the United States, in the
amount Of capital invested and in the
diversity Of the uses to which electric
power may be put.
Continued on Page Six.)