Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-03
OUTPUT OF PIG IRON
REGISTERS DECLINE
Growing Resistance of Pro-
ducers to Price Reduc-
.tionS Is Noted.
=. N. fascinated Press.

~ the Associated Press.
NEW YORK. September 3-Pig iron
production declined AS per cent In
August, sinking to the lowest oSily rate
since October, 1924. Iron Age Will say
tomorrow in its weekly review of the
iron and steel industry.
"But this recession. is regarded as
water over the DAM" the review states,
Gin view of the current trend OF iron
and steel works operations and the
growing resistance of producers to price
s.Steei ingot output notwithstanding
the rather general interruption or busl-
ness during the Labor day week end,
has registered the third consecutive adj
vance In as many weeks, now averaging
IS per cent. compared with 54 per cent
last week and So per cent three weeks
ago. While the gains have been slight,
they have been none the less recognize
able and have encouraged leading IN
dependent sheet makers to make the
first determined price stand in more
than year.
Attempt to Halt Decline.
"Ouotations announced by these mills
eliminate recent minimum figures and
will apply particularly on September
business. The advance represents an
effort to halt protracted decline whlch
depressed 81 to S12 ton below the
levels of the first half of 1929 and at
the same time reflects recognltlon OF
the growing interest in future require
ments manifested by buyers in the last
two weeks.
"Doubtless this move and others re-
norted to be in contemplation are CAL
culated to help replace the depression
nsychosis with a spirit OF commence.
while events will determine whether the
time is vet ripe for such change, II
is the consensus of opinion tnat the
trend of the trade this month VIII
largely determine the fortunes OF the
steel industry for the remainder OF tne
wear. and that even mild seasonal re-
Soyerv will do much to put business on
a f1rrner basis and lead the way to sus-
tanned improvement early in 1881.
aJJntil a more definite trend is APP
rerent reference must be made TO Sucn
straws as are available. Pig iron snip
,oants AT Chicago in August showed
gain of 20 per cent over July, WINE
Certain Cleveland producers report an
increase of IS per cent. lmpLov We H,.S
IN orders for both alloy steel bars ana
carbon bars point to moderate expan-
zion in automobile production. Inc
frst purchase of sheets u,000 tonsl LOT
the new Chevrolet models mas peeh
made and steel purchases are soon 70
he concluded for the f1rst 2O,OuV OF
thaSe cars. New inquiries for fabricated
Structural steel, at 1900 tons. are tne
largest since the second week OF june;
Tin Mate production has risen 70 ~
ner cent of capacity, following tne pass
ing of the drought scare. scrap MAJ me.
kefs have held their recent gains; nos-
1rSfbstanding ample stocks In the nanoS
OF large consumers. ..sal
,s,scIose little change in tonnage con-
s,,r,ed aside from the slight expansion
recentlv noted, but no survey OF tie
trade at A time like this can estinaee
the amount of business that is peIns
held hack by the ultraconSerVatlsm tIlas
extends from manufacturing user sIio
fehricator to ultimate consumer. Othy
a slipht loosening of the purse sflnss
all along the line. such as may De now
IN the making. would put many tons on
1,roducers' books. Another factor tnaC
NAV prove a deciding influence Is tne
Iarrely unclassifled, miscellaneous group
az Consumers which last year tooK neai1
" one-fifth of all the nnlsneo SUeei
rolled"
pig Iron Production.
rotal mig iron production in August,
estimated from Geographic returns 10
the Iron Age, was 2,526,50O tons. com ON
pared with 1859 ,537 tons IN july Inc
daily average in August, 81,5OO IONS,
underwent a decline of 3.646 tons I4.o
ner cent? from the July rate OF S5'l4o
tons.
main unchanged, finished steel at Zia AZ
cents a pound. and pig iron at $1,000
q gross ton.