New-York tribune., 1880-02-05

steel rail Interests OF the country oud be abunian,v
promoted witn adIfy Of sIl a ton
Mr.. Keey--And that is the sum you would na,ont
MT Wilson, think n could stand less duty than
that
Mr. Tucker-DO you think Il could stand duty % slo
| a toni
Mr.. Wilson, think lt could.
Representative conger questioned Mr. Wilson at con.
siderable length IN regard the freight rates chasgs
by railroads particularly affected by water comma
toni and Mr. Kelley aso had discussion With nj an
some of the principles OF protection and free traie
Mr. Joseph Wharton. OF Philadelphia, made an arru.
ment behalf OF the steel-ra manufacturers OF IN.
country against tho proposed reduction on the duty
He represented that the building mp OF Of ihc va.s
establishments for making steel rail- requires years OF
time that the law OF 1870 nxng the dnty at s2s had
afforded little benefit the rail mills when thu
crash Of 1873 cast Its blight railroad building And
deprived the mills 10 extent the custom upou
which they had counted. and that n the resulting CON-
petition prices had fallen TO point which none had
expected TO see IN this any other county-prices
so fer below the cost OF production that one after
another OF the great mills had fallen Into bankruptcy or
financial trouble. the strongest only surviving When
a last In 1879. tho storm had shown signs OF abaing
to buy freely. and at the snd Of 1870 theY had
bought the chief part OF this Years possible production
moment the railroads are receiving FROM the
American Mllls, steel rails at prices below
II at this passog through the foods
aud the desert and the famine that American steel ra
promised land, because certain railroad COMPANIES
winch have "waxed fat and kicked" upon direct gov
ernment bounte and Certain foreigners who have done
nothing for tins country but have sucked of
utmost poss Bile gain. cam0r that the spulatons o hs
American duty must be dsh0nored aud that the Amer
steel works rave no rights which their couDtymen
Mr. wharton submitted that the business of steel rail
making Il Of Indispensable necessity 20 the prosperity of
the country that the nducenent hed out 0y The Gov
"A A.
moderate and that q less inducement would have
failed the creation OF the great American
He said that the American companies have full
filed every engagement and done eyefyfhl that could
possibly lie required OF them. Yet, before they had
reaped their reward, they menncrd vita sudden
withdrawal OF the entire basis upon witch the Govern
successful OF the steel mills have
very light. while others have become absolutely bank
rup In case the duty should be reduced the antIepa
would he realized. Ia other possible way than
by promoting home competition can American railroads
be adequately eheaply supplied vita rails. He
asserted that the statement made by Mr. Poor yes
teIday. as to the prsfent capacity for pro-
country, iar below their actual capacity
That that gentleman had failed to state, bad pur
pOsey concealed the important fact that the various
works strennously engaged Ia increasing their
productive and would within year, be able TO
turn Out all the rails that the country likely To
qure. As TO the assumption that the cost OF railroad
IN the duty steel rails he declared that TO be without
foundation.
Mr. Gafheld-How many tons OF steel rails were con-
tracted for last year for delivery this year p
sir Whurton-More than half a million tons, think
Mr. GariedWnat percentage Is that OF the total pos
sihle production VI our mile I
Mr. WhartOn-It estimated at about so per cent OF
the entire possible production.
Mr. Gdrticd-WhaC the average price at which
these were contracted for be deliver Ell 10 1SS0f
Bfr WhartOnI should tnai the average price was
about 500 per ton, possibly 500.
Mr. EsfOn, Of the PsnnSylyaula steel Company, said
that b company had taken contracts for the delivery OF
steel rails IN 1880 for less taan SIS per ton
steel ral production In this cDuntr, aud In England.
Mr Wharton was unable TO give dehnite answer
upOn that point, some Of the American mills having
their own ana Other materials, and other mllls
having 10 buy son materials. lie figured IL up.
ever a. about equal 10 $40 ton for American pro-
ductou and about 127 foF the Bngishat least at The
time when English rails were sold Ht ~2f.
Tue hearing Is 10 be continued tomorrow.