Evening star., 1928-05-04
WORLDWIDE PACT
| ON STEEL TALKED
Textiles and Coal Are Sore
Spots in u. S. Industry
at Present.
BY J. c. RoYLE.

Special Dispatch 10 The Star.
NEW YORK. May 4.--More Ameri-
cans can afford to tala vacation this
summer than ever before and today
more are planning their Summer trips
than even the railroads and motor
manufacturers looked for. That gives
a fair idea of the general situation IN
commerce, industry and trade. But it
must not be forgotten that there are
some industries III which those engaged
are fighting for 8 chance 10 work, not
90 rest and vacation.
The sore spots are not healing ana
their condition seems almost 10 be De-
coming chronic. In nearly all cases,
notably in the coal and textile muOS-
tries, they have turned TO cutting wages
as remedy, Economists are a unit III
saving that cutting wages never yet
healed 8 sick industry, and the results
n evidence would tend to bear this oUt
u every instance.
Textiles and Coal.
II is obvious that the textile makers
r>ed 10 discharge machinery rather
nan men. The coal business must cut
Gown both. The brightest side OF the
.,aal picture is that the old. waSteful
aeehive coke ovens are giving way 70
3y-product plants, even at'the cost ol
erriflc expenditures Tor change o.
>auipment.
B,,SineSs. men have ceased 70 regard
.1a present rate Of bQilding construc-
on IN the light Of a boom. and now
lalo il as normal None the less, the
otivity. Spurred by good weather, has
suited in big demand for structural
feel products, builders hardware,
oment. bricks and lumber. The lum-
eer situation is especially satisfactory.
It'll some price advances.
Steel is benefiting most from demand /
ON automobile and agricultural in-
cement manufacturers. Most Of the
tter are recording sales Is per cent !
'sgher than those of this time last
ear. Steel men. however, are known |
, be concerned over the iltering IN OF |
Sreign steel products.
Steel Men in Europe.
Men close 10 the situation declared !.
'oday that while President James Far /
il Of the United States Steel Corpora /.
On was oStenslbly on a holiday in !
9Tope. in reality he had gone abroad /
, attempt to work out with the Euro /
an steel cartel some sort Of mutual /
1ternational agreement which would |
,volve world distribution and which |
light put a new face on the steel situa- /
IN Il is worthy Of note that Charles /
Schwab. chairman Of Bethlehem |.
ael. also is in Europe now.
Just how any such possible interna- /
NAL agreement might be regarded by /
= Department Of Commerce. the De- /
rtment or Justice or the Department /
State are questions which those who i
"mHenf on the report profess them /
yes unable 10 answer
The battle lines Of competition in the
'tomoblle field are growing closer This /
especially noticeable in the medium /
lceo field. Il is rumored that one in /
pendent has cut deep into the sales of /
e main profit earning line Of the lead /
= interest and that the latter is en- |
7eo on design Of a model so revolu- /
nary as 10 mean a new alignment of !
IS arguments
The agricultural implement and auto
a3es and the public utility activities
2Fe made fresh demand for non
Tols metals and the copper producers
nnolng their output in request Zinc
a little better and sooner or later
ere Is due shortage OF tin.
Farmer Helped and Hurt.
The agricultural situation has been
n helped and harmed in the last 10 /
Ss- The foods and weather conditions
caused big losses. but the prospect
higher grain and cotton and fruit /
res nave heartened those whose crops
e not ruined
ne money situation. from the point
Veg OF business. has bettered. The |
soral trend has demanded the use of /
Fe FUNDS Many companies which |
extra capital on their hands NIT II /
noulo securities during the dull |
satas. Now they are selling those Sc
les and putting the cash back into
r own business operations.
ne fcur leading cigarette manufac- /
Is seem determined 70 battle each /
er 70 the death. and most OF the /
nc Is applauding their deternjna- /
=. seeing In prospect additional ad- /
slne and lower priced cigarettes /
= tooaeco growers are undisturbor /
~ r.s,, ea.eg q Ieel ne var vii mean larger