Show II TEEL STEE COMPANIES 1 MAKE RECOVERY VERY f Reports Reports for tor the second quarter bv i. i the tho- Lackawanna And Republic St Steel cf companies show a n gratifying I recovery in earnings s over the dla- dla i 1913 period i u for forthe the tho first quarter of 1 I 1919 li were largely the result of or or- or orr r on the books prior to the I cien ending of ot the tho war wa Whole- Whole I GIG n Id reduction of ot operations and I general business uncertainty char char- cha- cha the second quarter when Tenon t II dropped to 27 21 cents per share for Republic and Lacks X w wanna n failed t to earn r anything t 1 In common o with I other t linos I of business the steel stee manufacturers have hava o lu been handicapped by transportation transportation trans trans- conditions n This has baa InI in II I cases resulted in I piling up on hand hand and ad has led to HO ome me apprehension lest these be become bome bo- bo come me eo so largo large a as al to force torce down I prices rIce Manufacturers how however hower er are aro not to worry wor over the tho future demands and railroad needs are arc large European European production pro pro- I ducton Is far rr below belov requirements t and it I Is believed the United States States has ha several year years years' cars work head ahead to supply this deficiency Meanwhile Je tho the Inadequate transI transportation trans trans- I I I inefficient labor and shorter hours houra will 11 tend to keep 4 production down and prevent a aI f I drastic fall In steel prices |