Evening star., 1928-03-23
PRICE BOOST DUE
INSTEEL INDUSTRY
Business Pendulum on Up
ward Swing-0utIook
Good for Railroads.
BY 7. c. ROYI.E.


NEW YORK, March 2S.---An advance
Of 81 ton is in the offlng for certain
varieties of steel products, That gives
an adequate idea Of the favorable po-
s.aan of the steel industry, one of the
basic lines of the United States. 1t
also gives an adequate indication OF the
business activity Of the country III gen.
cral although unQuestionahly there re-
main Sonle threadhare spots IN the HISSl-
ness and industrial fabric.
Operating schedules IN the PittSouSgh
6iS.ricf are approximately SO per cent
OF capacity and this is likely 10 be IN
creased next week. Large consumers Of
se,1,i finished steel are specifying large
X AGAINST contracts on billetS, slabs ana
snaet bars in heavy volume, Some nave
already filled their requirements 1or
kn.1 Nav and June in direct reversal
a their previous custom oI buying only
from month to month.
Some makers are now quoONg %S4
TN on small billetS, or Jump oI ou
GEMS to 81 IL the last fortnight. BalS
are also quoted AT S54. kipe+ Is III acdte
,er0an6. with the oil country buying III
Increased quantities at present price
levels.
FenQGtuu uAl T. kNAiO
The business pendulum obviously mas
been on the upward swing TINS wees
Unemployment has leSSeneo' allloNsh
i.le Improvement has been irregular az
- territory. -,
17gral ir,plen1ent factories are stepping
IN thair output gradually but steadily.
Building operations are showing tnelF
a,oads above ground almost as last as
t,,e Spring flowers, despite the lact ailht
rid weather in some OF the Northern
s~~tso,ls Of the country has hampeTeQ
f9is work. as well as road building ana
engineering projects. This mas oeeh
rejected in the building materials. eSpe-
ciaIly in lumber. where demand anu
shipments are moving upward -,
T~Sjcat3ons are not lacking that the
railroads. can count on very fair Trst
haIf wear, and that the remainder OF
1928 will suffice 10 bring their earnings
up above the 1927 total.
Freight Loadings Better.
Freight loadings are just commencing
n show the betteTment OF generaI con-
e;tio1s and this should be apparent III
the figures issued within the next 1ot1-
a.Eht.
sa175nr f.llv 10 per cent more than al
s7is tire last year. This is not enIne4y
s.De 70 the increased industrial activity,
s.zr-e they have more customers now
than q year ago. The gas concerns are
u-ngresslng al an even greater rate OF
rzi7 while the telephone companies
are handling more calls Gay taan
ever before in history.
In direct contrast 10 this trend Is tfle
cosl trade. which still is In tnor-
0ugaiy unsatisfactory state no pLo-
rs7saI for a settlement has aroused Etae
sstgg1test enthusiasm or received the
r71g7test announcement from any OF
t!aa cortending factions.
The petroleum industry has recoroed
some advance IN crude ana reIlneo
gg~sces. but the statistical position OF
she industry is still unfayorable and
progreSs Is depresSingly slow.
Americans are using more cotton
cloth than ever before IN history, but
The technical position Of the textile
trades is such that manufacturers are
not getting advantage Of this fact IN
their margins Of profits as they snoulo-
Wool Market Strong.
The wool market Is In strong posi-
t5o-a. with active demand. both IN this
ecuntry and abSoad The American
vooI clip is expected TO be 8 per cent
larger than year ago, but prices have
advanced even more rapidly than pro-
eauction. Despite: this fact, the leading
interest announced a cut in its Fall
fzsric prices. cpetse6 this year.
Wholesale and. retail trade are ex-
ee.lently balancI at present. The
wholesale movement has been just
about equal 10 that Of 1927, which al
sgree6 was a MOST prosperous year Re
ta4lers have benefited to a certain
exten; by the late Spring and have
suffered from the weather IN other
respects. but reduction sales have SUI
feed 70 clear the GheIveE pretty well Of
aol3-oSer stocks. Chain store sales are
Improving rapidly and the movement Of
f2erchano.se thr9ugh the mall order
houses is extraordinary
Sugar prices s;aow 10 Indication Of
rising. although IL is indicated in trade
circles that they vii not 90 appreci2bly
zoweF
Earrings q tise mining companies
sra being ssy3osissg affected by the log
prices of LEAD aES zinc.