Problems Fundamental to Mining Enterprise In the Far East

Steel for any large structure must be imported, the Hanyang works being entirely unable to supply local demand. The United States Steel Products Co. has warehouses and small stocks at Shanghai and at normal times there are heavy importations from Europe. It is difficult to obtain any accurate index of prices, but comparison of customs valuations with Pittsburgh quotations shows angles, bars and plates to have averaged $10 gold per ton higher in China in 1914, while on galvanized and tinned plates the excess was- $38 per ton. The margin since has been greater. Previous to the war little machinery was manufactured in China. There were shipyards at Shanghai and at Hong Kong which built a small number of engines, and small foundry and repair works are found at a number of ports. Their capacity was limited and the difficulties and delays incident to transport in China so numerous that in practice every important mine has a small foundry, boiler works, and machine shop. This must be taken into account in plans for work in the country. While skilled workmen can be found it is to be noted that most of them have been trained