Show AS STEEL GOES SO GO THEY ALL 0 the condition of the steel industry is considered so accurate a barometer of the status of the general in dus bustnes tries that when this indicates depression stonny stormy or at least unpleasant weather may be expected elsewhere in the industrial world for some time past steel in the united states has been suffering a severe set back accompanied by a corresponding gloom over the general business world however of late there have come symptoms of a broadening of iron and steel consumption and reports from the trade say that september more wore than held its own with the august volume of orders which in many lines was the best of the year production also is showing a steady increase this is sho shown shonn nn in one notable instance by the blowing in of half a dozen furnaces the current month at cleveland an ail increase is reported from there of over 40 per cent in august out put of steel ingots ingols and the second week in september showed structural contracts totaling tons while railroad buying is again increasing an ail of 2 to 3 per ton in wire products at the cleveland mills was recently put into effect by the largest producer an example followed by the other mills this advance fol lowed closing of numerous contracts for 60 to 90 days deliveries involving an excess of tons it at previous lower prices pig iron stocks are reported falling for the first time in a year as the better shipping macket in august was maintained reduction of stock in the south in that month exceeded tons new nea siles aie ale re ported in larger volume american mills appear to be meeting foreign competition to better advantage adan adran tage with lower prices and securing new business botish pio pi of steel ingots last mon month th was up to about 50 per cent but in pig iron it NN was as only about 10 pel pei cent belgium iron is reported fallen off 39 per cent since january all this would ordinarily be regarded as interesting locally but inasmuch as has shown that the pios penty of almost all other american industries keeps pace with the prosperity of american iron and steel the conditions above described cannot but be viewed with inith satisfaction as a promising sign of early general improvement exchange 0 |