Word: steeling
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...financial markets have come to another halt. The stock market, digesting recent price-advances, has proved irregular and less active, while sterling exchange has also lingered on its way back to par. The wheat market has experienced a severe but apparently speculative break below $2.00. Iron and steel production has mounted rapidly to what is already being called its peak for 1925 by business forecasters...
...efficiency, of which Henry Ford is an example. The public fear of trusts has gone likewise, because the public understands that big business is a necessity under modern conditions and, especially in the last decade, because the public is becoming more and more a security holder. The U. S. Steel Corporation, for example, today has 159,000 stockholders, almost four times as main' as in 1901; the American Telegraph & Telephone Co. has 343,000 stockholders, including 22,000 housewives, 10,000 clerks, 24,000 laborers...
News in the steel industry has improved so rapidly of late that, in the Wall Street phrase, "all the good news is out." The unfilled orders of the U. S. Steel Corporation on Jan. 31 were 5,037,323 tons, a jump of 220,647 tons over forward business on Dec. 31, and the largest amount since February, 1924. The Corporation is working at about 95% capacity. Price advances have occurred in bars, shapes, plates, sheets, and wire products...
Over half of the country's steel output is absorbed by the railroads, the automobile companies and the construction industry. While no slump is anticipated in any of these directions, at the same time it is not expected by most people that buying from any of these three sources will prove as heavy this year as in 1923 or 1924. The railroads were in sufficiently good physical shape last year to handle record traffic with about 10% surplus capacity unused. Automobile output is not commonly expected to exceed this year the records of the two previous years. Finally, construction also...
...question consequently rises, Where is the purchasing that can maintain the present rate of steel production? In both 1923 and 1924, production reached tremendous volume in the early part of the year, only to decline severely during the latter half. Is 1925 to see a recurrence of this now familiar annual production cycle in steel...