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Show AN AID TO BUSINESS STABILITY. . The steel industry, now at the highest high-est point in productivity, going far beyond any record of output In the past, promises to continue to enjoy prosperity for a period of years. One of the reasons advanced for such a cheerful outlook is presented by an eastern authority who says: "Reconstruction demands after the war will, as is already- known, be enormous. Neither Great Britain nor Germany will be able for some time to come to meet the demands upon them from this source. The devastation devas-tation of Europe will cause an enormous enor-mous demand for steel to restore railroad rail-road plant, equipment, factories, ma chinery, etc.; demands which will not be satisfied without our help. It is also estimated that five or six million mil-lion tons of shipping have been lost, displaced or worn out by the war. Great Britain has already suffered to tne extent or 4,uou,OUO tons through submarines, depreciation and extra wear. Her shipyards will face a shipbuilding ship-building boom after the war. Our own shipyards are overwhelmed with orders, or-ders, and probably will be for two or three years to come, while shipbuilding shipbuild-ing plants are being started all over the world; all of which means a tremendous tre-mendous demand for steel, so that the United States, much the largest producer in the world, wij be called upon to fill a considerable portion of this void. Prices may not continue as high as now, but with such demands de-mands In view, no great decline will be possible. Whether in war or peace, the next two or three years are almost al-most sure to be periods of great activity ac-tivity in the American steel industry and the volume of business will be large, though the ratio of profits may decline." As the steel industry is a great factor fac-tor in general business activity, this country confidently can look forward to years of good times. |