R for British Steel

Unlikely to forget the Johnstown Flood of 1889 is Jacob Leonard Replogle, potent retired U. S. steelmaker. The direct result of the flood upon 13-year-old Master Replogle was that he was carried several miles downstream, clinging to the onetime roof of his onetime home. The indirect result was that, his family penniless, he entered the steel industry as an office boy for Cambria Steel. Rapidly he climbed, his invention of a thread-rolling machine giving him additional impetus. In 1916, a director and member of the executive committee, he was instrumental in selling Cambria's control of Midvale Steel & Ordnance Co.

During the War, every order of steel, for any purpose, had to have his approval. In this capacity he performed many a notable feat, great among which was the lowering of the price of steel plate to 3 1/4-c- per pound against 12 1/2-c- before government control. For his work he received the U. S. Distinguished Service Medal, awards from Italy, France, Belgium. He likes to recall that when the corset-makers came and begged for steel he refused their plea, thus helped change the line of fashion. In 1919 he organized Vanadium Corp. of America and Replogle Steel Co. the latter being succeeded three years ago by Warren Foundry & Pipe Corp. Lately, however, he has been in practical retirement although he is a special partner of Harris, Upham & Co. But last week the name Replogle again figured in the steel industry of the world.

Great Britain, eager to strengthen its industrial position, has vigorously pursued a policy of rationalization by merger. From the first it was known that the Bank of England, guided by able Rt. Hon. Montagu Collet Norman, instigated most of these deals. Recently the Bank, through a holding company, actually entered the industry and subscribed for 25% of the stock of the $30,000,000 Bankers Industrial Development Co. (TIME, June 2).

Last winter Mr. Replogle eyed this British situation. He made a comprehensive study of it, conferred with Britain's iron-masters and political-masters. Last week he left Vichy for London to confer on his plan, details of which became known for the first time.

In his report he mentions the growth of the steel industry in France, now the world's largest steel exporter, mentions England's decline from its former steel prestige, exhibits lengthy statistics on world steel. Daringly he especially attacks the cherished British policy of primogeniture and "family management."

Summarizing the plan are six points. Two are generalities on why Britain should do something about its steel. The others are specific. Mr. Replogle says practically all English blast furnaces are obsolete and should be scrapped, supplanted by modern furnaces of 1,000 tons a day capacity. The present average capacity of British blast furnaces is a paltry 120 tons. The largest type of Koppers or other by-product coke ovens are a necessity. Immediate attention should be given to semi-finished products, now com posing 60% of Britain's steel imports. A main plant should be located on seaboard.

Although the U. S. exports much steel to Britain, Mr. Replogle is no expatriate. Prosperity in Britain would help all U. S. industries, invigorate world trade.

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