SCOTTISH STEEL.

Taranaki Daily News, 23 September 1921, Page 5

SCOTTISH STEEL.

DISMAL STORY OF INDUSTRY. HEAVY LOSS INVOLVED. By T<»lwapb.— Ptmh Aisu— Copyrleht. London, Sept. 21. The Central News Agency tells a dismal story of the condition of Scottish, steel-makers who, under Government pressure during the war, made uneconomic extensions of their plants, with the result that they are now producing, at a heavy loss. The selling price of steel plates is £4 per ton under cost. They’ would close down altogether, but for the danger of losing their trade connections.

Ninety per cent, of the Scottish steel workers are unemployed. The works are running at only 20 per cent, ol their- capacity compared with Germany’s 80 per cent. The position is aggravated by French firms purchasing from Ger-man-owned steel works in Lorraine and Luxemburg at ludicrously low values and exporting almost the entire output of 2,000,000 tons annually at prices with which Britain is unable to compete.

The position is made worse also by the fact that Australia and Japan, which were formerly Scotland’s customers, have laid down their own works. Experts prophesy that the present conditions will continue for five years.’