Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-07-15

Bynum-So that the best grades, where
the labor product is highest. we are ex-
porting.
Oates-Are prices paid by the Government
for armor plate fairly remunerative?
, A. We haven't gone far enough to tell.
Oates.Hayen't you a large contract with
the Worlds Fair?
A Not directly.
Oates-Hasn't your company the largest
business In the country in its line?
A. think we have.
Oates-Doesn't your company sell close to
fix the market price?
A. No. sir; we try to get the best price pos
Oates-Don't you undersell other mills to
do a lively business?
A: Not for that purpose. We have COM
petition. Very often we don't get contracts.
Often we take contracts at low prices to
keep the mills running.
Oates-1sn't it true that You sell finished
products for less than other mills?
A. No, sir. We do not. Occasionally we
get an order, and as often lose one.
keep prices down?
our business were never lower than now
Oates-Aren't prices generally away down9
A. believe SO.
Considered a Readjustm snt Necessary.
oates-Couldn't your mills continue at
old scale and still make money?
A. We would soon go into bankruptcy un.
less there is readjusSment of wages at GER
tain times.
Oates-Give the increase in steel for last Is
years.
A: swank,s figures are as follows: 1874,
$50 600: 's9, 32sl. 900: go 443 OOO '9I 637 900
Bynum-What prompted you to reduce the
Wasesf Does tariff have anything to do with
the question?
A. 1t has no effect. We are confident that
under the new scale by next year the men
would make as large wages as before. There
was no raising OF duty on any of the articles
n or mn kin flno,,
duced. On some of them the tariff was low
cred. II the tariff had been lowered much
more increased importation would have fol-
lowed any reduction of wages.
Oates-Why have prices dropped?
Ain the last year or SO, stocks have
been increasing. The consumption has not
Broderick-You say that tariff is not in
volved in this dispute?
Wages May Go Up in a Year.
Al don't think it is. would say that, as
result of increased production, by this
time next year our men will be receiving as
much as now.
Broderick-Dfd the reduction of tho ia riff
increase importations?
A. No, sir.
Broderick-Suppose it had been sufficient?
A. Then wages would have been seriously
reduced.
Bynum-The iron industry was depressed
from 1873 10 1879?
A Yes. the best years in business were in
1880 and 1881.
Bynum-Well now. in those years the i'm
portations were the largest. Doesn't this
show that importations stimulate business?
A. don't know about that
Bynum-The duties on iron are practically
prohibitory, are they not?
A. Yes, sir. l think so.
Broderick-I would say that Bynum has
studied this subject more than the rest of
us. Weren't the importations in those years
due to the high prices?
A. think So 1t was due to the strong
demand for products. Great railroad build
ing was going on.
Broderick-Have the prices OF your prod
ucts been reduced in the last few years,
Notwithstanding prohibitory tariff?
A. Yes, sir.
Oates-What is the accurate valuation of
yonr plants?
A. Well, our capital is S., ,000, 900. In addi-
tion we have other money invested.
Broderick-How many months in the year
do the works run full capacity?
A. We run about 270 days.