Owing lo the proximity of the Channel ports, these ores are exported in quantity to Britain.
The Pyrenean ore is a fairly rich haematite with an iron content varying from 45 to 55 per gent. This ore is mainly used ju central France, mixed with high-grade foreign ores for the production of forge pig-iron.
French ore imports, amounting to 921,000 tons in 1937 and to 437,000 tons in 1928, including shipments from French North Africa, are more important than the tonnage comparison suggests, as they provide the basis for making special iron and steel.
Exports fell from 19,250,000 tons in 1937 to 15,500,000 tons last year. Over 9,000,000 tons went to Belgium and Luxembourg, about 5,750,000 tons to Germany, and the remainder chiefly to Britain and the Netherlands.
At a meeting of the directors of the Shanghai Loan & Investment Ca., Ltd, held on October 9, at the office of the General Agents, Messrs. George McBain, 1 The Bund, Shanghai, it was decided to declare an interim dividend on account of the year ending December 31, 1939, of thirty-five China Standard Dollar cents per share, payable to shareholders on register on October 25, 1939.
The Statistical Value of each Tls. 5 share of the Company on September 30, 1939, was dollars 9.35 local currency, Warns on War Crop Rise Chicago, By Mail.
Edward A. O'Neal, president of tne American Farm Bureau Federation, told farmers recently to beware of economic repercussions if' they embarked on a programme of wartime agricultural expansion. On the eve of Winter wheat seeding for the 1940 crop, he urged wheat growers to keep acreage within the limitations set by the. Agricultural Adjustment Administration, states the "New York Times."
Secretary Wallace appointed Mr. O'Neal to the Agricultural Advisory Council to assist in formulating agricultural policies as a result of the war.
I don't see how farmers can figure it would be to their advantage to take the acreage lid off, Mr. O'Neal said in an interview, but if they do they will have to pay the bill. With the huge surpluses of commodities that are available it might prove disastrous. Lots of us have not forgotten the World War and its aftermath—and more recently 1933.
Mr. O'Neal asserted that the AAA programme was flexible enough to permit increased acres to boast production if it became evident that greater quantities of food and fibre were needed, Barter with Germany Manila Gold Shares Most of the iron ore supplied to Germany is exchanged for metallurgical coke under a special trade agreement.
The predominance of the basic-Bessemer process accounting for 66 per cent. of the French steel production, means that scrap is plentiful and that the open hearth melting furnaces can obtain ample supplies of scrap from home sources.
Though an export tax levised on scrap to conserve home reserves, over 440,000 tons of scrap were exported in 1938, compared with 112,000 tons in 1937. The main purchasers were Germany, Italy, Poland, Switzerland San and Belgium.
Coke the Big Problem Coke is the big problem for the French iron and steel industry. Total output in 1937, including non-metal-surgical grades, amounted to 7,700,000 tons. In that year the blast-furnaces and foundry cupolas consumed 8,400,- 000 tons.
Imports of coke, chiefly of metal-surgical furnace qualities, reached 3,900,000 tons, of which Germany supplied 61 per cent, Holland 20 per cent. and Belgium 16 per cent.
Text read from the printed page and cleaned; old type leaves the occasional error.