U. S. Steel Orders

"As the iron and steel industry goes, so goes business in general." Analysts of business are now pondering how much truth there is in this assumption.

At the close of June the forward or unfilled orders of the U. S. Steel Corporation totaled 3,710,458 tons--a 339,342-ton drop from the tonnage of 4,049,800 reported at the close of May. Trade estimates expected a drop, which is seasonal for this time of year, but scarcely such a large one. At the close of February last, unfilled orders of the Steel Corporation aggregated 5,284,771 tons-- the highest point reached since August 31, 1923. But during this spring the figure has fallen steadily until it is now lower than since October 31, 1924.

The tonnage statements have not apparently lessened the zest of the investing public for Steel common stock.