Word: steeling
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...steel business is still a debatable theme among bankers. Almost everyone tries to speak well of it, yet the actual statistics get worse and worse...
...Steel Corporation as of June 30 was only 3,262,505 tons-a decrease of 365,584 tons from the figure for May 31 preceding, and the lowest statement since November, 1914, when it was 3,242,692 tons. On the June rate of shipments, orders now on U. S. Steel's books represent about four months' business. Yet steel men seem to expect marked improvement in the industry by September...
...steel market is dull just now for purely seasonal reasons. Ingot production in June was at an annual rate of 25,600,000 tons or about 47% of capacity. Buyers are placing only small orders and insisting on immediate shipment. As yet, steel prices have undergone no particular change, and at present apply to a comparatively small volume of business. When demand becomes more pronounced, a cut may be caused, owing to competition of different mills looking for business...
...Charles E. Mitchell, when interviewed, proved gratified but cautious in predictions. "It does not necessarily mean that the bank's assets will stay constantly above the billion-dollar mark," he stated, "for a bank's resources advance and decline just as figures of car loadings or of steel tonnage rise and fall from month to month ... it tends to show that today this country's banks are in better shape than ever before to carry on the financial work that they, as banks, are expected...
Apart from the National City Bank, America's billion-dollar concerns consist of the American Telephone & Telegraph Co., the U. S. Steel Corporation, the Standard Oil of New Jersey, and the Pennsylvania and the New York Central railroad systems...