Salt Lake Telegram | 1932-09-05 | Page 12 | Steel Sentiment More Cheerful

STEEL SENTIMENT MORE CHEERFUL CLEVELAND Sept 5 UP Iron UP-Iron Iron and steel producers entered the Labor day period with a decline of 1 I point in the rate a further wide advance in scrap prices and a n general improvement In sentiment the ma magazine Steel said today Inquiry was broader a and d booking somewhat heavier in most districts last week according to this authority Many mills for the first t time me in months visualized the accumulation of backlogs back back- lo logs s orders for future delivery Efforts to stimulate railroad buying were expected this week to yield or or- ders Leading manufacturers of automobiles automobiles automobiles au au- au- au were reported pricing steel for fourth quarter delivery I The possibility is strong Steel said s. that steel production in the week ended September 10 10 which includes in In- eludes Labor day may develop a slight gain over the 14 13 13 per cent rate rale of the week ended September 3 This would prevent the industry from tram dropping to the 12 per cent low of the July 4 stoppage