Abstract

Finance

The steel trade is giving a good account of itself in responding to government demands for war steel. September 1918 figures show a remarkable increase in pig-iron production, the daily output of 113,942 tons of iron representing an increase of 4,600 tons over the August figure and being the largest ever reported. The indications are that the output for this month will establish a new high record, as unusual efforts are being made to increase the yield of furnaces now in blast. There was also a record production of steel ingots last moth, the total being at the rate of 46,800,000 tons per year. There is little likelihood that the industry will seriously disturbed by the cessation of hostilities abroad. Little steel is held in reserve anywhere, and if American production could bet increased immediately by 50 per cent., there would probably be a ready market for all the steel not needed by the U.S. Government.