Judge Gary's Prosperity

Judge Gary, as usual an optimist, last week addressed the American Iron and Steel Institute.

" If," he declared, " business men will cooperate with the President . . . there is no reason to fear there will be a serious financial or commercial disturbance or depression during the next few months." Despite the pres-ent handicaps of high and burdensome taxes, high costs of production and high costs of living, the Judge looks forward cheerfully to conditions in the iron and steel industry. He recognizes that the returns on capital invested in the business are inadequate, and that the industry is not operating at full capacity. Yet he considers the outlook good, and anticipates heavy purchasing by railroads, constructors, oil producers, canners and automobile makers.

After reviewing the dark outlook in Europe, with its bankrupt nations, starving women and children, and dangerous international hatreds, the Judge remained serene and still cheerful regarding the U. S. " If," he concluded, " the European atmosphere and conditions dominated our affairs, our business men might be depressed and somewhat doubtful of the future; but fortunately they do not."