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stock of $30,000,000, and controls many corpora- 
tions through stock ownership, including the Jones & 
Laughlin Ore Co., the Interstate Iron Co., and the Monon- 
gahela Connecting Railway. This company’s plants are 
said to be worth $200,000,000. 
The Crucible Steel Company of America, is capitalized 
at $25,000,000 in common stock and $25,000,000 preferred, 
and controls, among other corporations, the Pittsburgh 
Crucible Steel Co., with $5,000,000 capital. 
The Pittsburgh Steel Company is capitalized at $7, 
000,000 in common and $10,500,000 in preferred stock. 
The Carbon Steel Company has a capital stock of 
$3,000,000 common, $1,500,000 69, second preferred and 
$500,000 89 first preferred. 
The Pittsburgh Rolls Corporation has $2,500,000 
common and $500,000 79, preferred. 
The Pressed Steel Car Co. has a capitalization of 
$25,000,000, equally divided between common and pre- 
ferred stock. 
The Republic Iron and Steel Co., whose chief works 
are at Youngstown, O., in the Pittsburgh district, repre- 
sents an investment of $30,000,000 in common and $25,- 
000,000 in preferred stock. 
It is appropriate in this connection to note the fluctua- 
tions in the production of pig iron and steel during the war 
period, and how the steelmakers of the United States re- 
sponded to the needs of the Nation when it entered on the 
great struggle. The American production of pig iron in 
1913, was 30,966,152 tons. It was reduced during the 
following year to 23,322,244 tons, for the war, which broke 
out in August, 1914, at first paralyzed industries in this 
country. When the foreign demand for metal began to 
make itself felt, however, the production rose to 29,916,213 
tons in 1915, and to 39,434,797 tons in 1916. In 1917, the 
production was 38,647,397, and in 1918 the output of pig 
iron was 38,500,000. It was in steel that the vigor of the 
American producers was most manifest. Steel production 
in 1913 was 82,321,618 tons, and this declined in 1914 to 
24,206,276. In 1915, there was a jump to 32,151,036 tons. 
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