OCR Text |
Show Steel Operations Continue to Drop NEW YORK. Nov. 15 UP Operations Opera-tions in the steel industry for the current week declined 4.6 points to 36 4 per cent of capacity, compared with 41 per cent last week, the American Iron and Steel institute ajttimaud, Mnf1y A month ago operations averaged 55.8 per cent, while a year ago the rate was 74.1 per cent of capacity. The decline in steel output, the ninth consecutive weekly drop, left the industry working at the lowest rate since early July. 1935. Since about the middle of September, Sep-tember, production has been cut more than in half in one of the severest slumps in memory of steel observers. At the recovery peak last spring, the industry was operating oper-ating above 92 per cent of capacity. |