Salt Lake Telegram | 1921-09-04 | Page 39 | More Jobs Open in Steel Industry

MORE JOBS OPEN IN STEEL INDUSTRY o 0 By ALBERT APPLE S Sept pt 3 Many lan unemployed unemployed workers will soon begin getting their Jobs back In itt tho steel Industry Within forty five days American steel mills milla will bo employing twice as lie many men a as In earl early August That's how steel Jobbers Int Interpret the lh th predictions of or J J. J A. A Campbell Camp Camp- bell president of oC tho Youngstown Youngson Sheet and Tube rube company compan Campbell who has a reputation for being conservative e In III his statements thinks that tho Iho steel Industry will 1 bo be operating at 40 per cent nt capacity by Sept September or October That's a low rate But steel Ingot production In Jul July was as only 20 0 O per percent percent percent cent of oC capacity A Jump to 10 40 per percent percent percent cent would mean a dou doubling of or work or the number of ot workers Tho Thc steel Industry hit th tho bottom lx of at depression late Jato In Jul July Since then It has haH been moving up up- up- up ward ward extremely slow but hut surely steel men say sa So goes goeB steel so goes gees general bus busi ness fleas Is a saying among business m men en No 0 o steel head Is predicting a sudden sudden- boom All agree that recover recovery will he be slow Also all nIl believe belle that steel stcl 1 business bust busi ne ness fleas s In July was worse than will be witnessed again for Cor or at least a genera genera- tion Slow er recovery has hns started though It Itma ma may bo ho carl early In 1922 before the steel Industry gets set on Its feet again Steel prices now average anI only 38 percent per percent percent cent higher than In 1913 This Is largely due to wage wag cuts for tor freight rates remain high on ore are coal and limestone Tho The United States Steel corporation Is paying Its day labor 37 31 cents an hour Independent manufacturers have havo cut common labor to an nn average crage of ot 30 cents an hour and some Bomo are fire paying as aa low a as 20 cents The Time rate In 1914 i was 19 cents an art hour In 1898 It was 13 cents Theres There's much talk In the steel bu business bustness bust busi l- l ness about a return at least temporarily ily 11 to 1313 1913 prices This might come como two ways l. l First b by a reduction In freight rates Application has been filed tiled for tor a a. 25 per percent percent cent cut effective September I 1 lk In I freight rates s on steel moving to export through Atlantic ports Second competition the competition tho survival of ot tho fittest may fittest may compel leading steel companies to sell seH ata loss and dig Into the tho surpluses they built buill up during the war United States Steel In In Its last official report had In cash time timo deposits and negotiable securities In fn Its treasury German Gennan and Belgian steel makers are underbidding Americans as much as asBO BO 60 per cent In foreign markets And without low prices American steel wont won't have a a. show In world trado trade Pig Pilo Iron produced In Jut July was at tho the smallest annual rate since sinco 1897 Production In Jul July was vas tons or only 20 per cent of ot tho the Industry's Industry capacity Even during tho the panic of ot 1908 pig pl Iron S output was 46 per cent capacity But Dut steel mon men point out that their in industry's Industry's In- In productive e capacity Inc Increased 44 H per cent during the war Hence July output was about 38 per cent of at normal opera operations