Steel Improves

For the first time in many weeks the steel trade can point to current developments as harbingers of improvement, instead of having to rely on Chairman Gary's blandly optimistic speeches. The U. S. Steel Corporation reported an increase of 10% in bookings during the first three weeks of August. Production has crept past its recent 50% mark. In June it was only about 40%.

Henry Ford recently took 10,000 tons of fine finished sheets. Cast iron pipe bookings are good; in the Chicago district they exceed output. Rail orders are also appearing.