Evening star., 1933-05-03

Announcement Of increased produc-
tion in steel causes the public to ex-
pect general improvement in industrial
and business conditions. Volume Of
business in this line has often been
called the barometer, and its gains are
believed to be duplicated in other forms
Of activity. In this instance it is re-
ported that automotive interests have
been gamers.
When steel is optimistic it sings
what is popular song in the industrial
| world" says the Toledo Blade, while
the Asbury Park Evening Press remarks
that steel. the backbone of the in
dustrial body, is doing things in big
way, which means that there is re-
| newed activity in many other lines"
Quoting the head of the United States
Steel Corporation as stating that the
officials ARE buoyed up with the hope
and comfort that better times are
ahead" the Oakland Tribune COM
ments: When steel looks up the Nation
applauds. For number of years the
industry has been silently watching the
dropping figures of production The
more than Sc million gross tons of in
gots and castings which was the 1929
record have dwindled until last years
production was about 1872 million tons,
or approximately the output of 1904"
The Tribune adds that production is
now at the highest point in more than
a year."
"Auspicieus evidence of increasing ac-
tlvlty'' is observed by the Nashville
Banner, with the explanation: Next in.
Importance to agriculture, which in its
broad aspect is the basic industry of
the Nation, and to the automobile in
duStry, taken in connection with those
that are collateral to it, steel production
Is the largest in the country. The
economic dictum of a half century ago
that the progress of a country can be
measured by its use of iron is still rela-
lively correct. Its relation in the per-
fected form Of steel to manufactures.
transportation and construction is so
close and comprehensive that the steel
industry is almost invariably the first
to give evidence of the coming of
period Of depression. Similarly, it is
among the flrst to afford procf of the
weakening OF depressing factors in the
business structure of the country"
Revival Of activities in a basic in
dustry" Is proclaimed by the Cleveland
News, with recognition of the interest
OF Its own community in steel produc-
ton, and the statement that "a new
note OF hope Is sounded in the autono-
bile industry" The News also states:
Estimates which place Cleveland ahead
IN steel producing are not based on
guesswork, but on the volume of orders
plling IN. Buying on the part of large
manufacturers, against rise In prices
OF steel and against a freshening de-
mand for their products, is responsible
for rapidly accumulating orders. In the
automotive industry, one large firm has
taken steps to pile up raw materials for
six months requirements"
"a cheerier automobile market"
agrees the New York Times, "is the
main reason for the recent gratifying
rise in steel production. But do more
automobiles mean recovery or imitation?
The grimmer soothsayers insist it Is in
flation.
But one cannot be too sure. People
have already been discounting the
cheaper dollar If automobile buying is
flight from the dollar, why should the
lower-priced cars be the first to register
such an escape? People should be buy
| ing the more expensive and permanent
cars, thus solving the double problem
of safeguarding larger number Of dol
lars and providing ones self with an
automobile for an indefinite future.
Gould it be, after all, beer rather than
| imitation? So many thousands Of men
going back to work in the breweries and
| accessory industries, so many beer sales
men running around soliciting orders,
mean a demand for automobiles"
Statements by Secretary Roper Of the
Department Of Commerce that he "be-
lieves the April comparison with the
corresponding month of 1882 would be
much more favorable than the returns
for the first quarter" are quoted by
the Baltimore Evening Sun, with the
statement: "All this has pleasant
sound, but the thing we like best is the
absence of the old hooey. Nothing
Whatever Is SSH about scraping the bot