Evening star., 1932-07-14
STEEL PRODUCTION
GAIN IS REPORTED
Operations Increased to 16
Per Cent of Capacity, Says
Trade Journal.
BY the Associated Press.

NEW YORK, July 14.-With the re-,
sumption of some steel plants after the
holiday shutdown, ingot production has
had a moderate rebound to l6 per cent
Of capacity, a return to the average Of
June, says Iron Age"
During the period of partial idleness
there has been scarcely any accumula-
ton OF backlogs and steel mills are
subsisting on small day-to-day orders
which are restricted in part by seasonal
dullness, marked by many complete
shutdowns of steel-consuming plants.
Some of these plants will resume late
this month or in August, but thus far
they have made no provision for the
materials they will require.
Construction Work.
1T becomes more apparent that the
steel and allied Woodworking indus
tries must look first for constructive de-
velopments outside their own immediate
province for the stimulation OF conf
dence necessary to recovery.
"A degree of stability in commodity
prices and the sustained advances in
live stock values with the prospect that
this improvement may extend to other
agricultural products has raised hopes
that the farm, the longest and most
serious sufferer from depression, may
lead the way out as has happened In
previous economic crises. The effects
upon business of the Lausanne agree
ment on reparations and the expected
early adjournment of Congress cannot
yet be measured, though these occur
rences are expected to provide ground
work for some measure OF Improvement.
Construction work has been furnishing
most of the large steel tonnages OF late,
but the volume of lettings has shrunK
this month excepting the placing OF
Government contract for the Hoover
Dam, which calls for 46.200 tons OF
plates and shapes to be rolled by Chi
cago mill, but the work will be spread
out over two or three years. Two large
projects which may come into the
market next month are $4,000 tons for
grade elimination work by the Long
island Railroad at Far Rockaway, Long
Island. and 10000 tons for additional
West Side improvements in New York
, by the New York Central. Fabricated
structural steel awards in the week
were only $500 tons.
The automobile industry's steel re-
uuirements will be smaller during the
remainder of the Summer at least and
dropping off in orders from tnat
source is now being experienced. New
models in the light car field may afford
some stimulation later on but the pres
ent situation is that Ford production Is
gradually declining and will range from
80 900 to $4,000 this month and not
more than 10000 in August, while the
July total for the entire industry may
not exceed l60 900 against 100, 500 for
June.
Foreign Competition.
Foreign competition in steel has be-
come so serious in the opinion OF the
! National Association of Flat Rolled
Steel Manufacturers that Congress
| should declare an embargo. The rem
edy is believed by influential members
| of Congress to lie in invoking the anti
| dumping provision of the tariff act.
| Meanwhile considerable portion OF
| the steel industry in Belgium, which
has been the principal shipper of steel
to the United States, is demoralized as
the result of strike of coal miners,
Practically all Of the Charleroi district
Is shut down"