Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1896-12-24

Pittsburg, Pa, December 2S.-The
Bessemer Steel Association, better
known as the Steel Billet Pool, is still
intact, reports to the contrary notwith-
standing. One Of the leading members
of the organization who returned from
the meeting in New York, in an inter-
view said:
THE sessions were secret and some
misleading information has been put
before the public. ! can state posi-
lively that the pool as the newspapers
call it, is still in existence, and that it
has not been dissolved as stated. The
only firms out of the combination are
the Bellaire Steel Company, which
withdrew, the Shoenberger Steel Com
pany, which never went in, and a small
concern in Indiana A committee OF
three was appointed to look into the
situation and it will make a report
within two weeks, when another meet
ing will be called. In the meantime.
the market will be open and prices
will be anything that the manufacture
ers can get for their product"
The member of the pool did not want
to predict what the prices would be,
but was emphatic in his statements
that the organization would not go to
pieces.
Another manufacturer said as to
prices that billets were being sold as
low as $3.50 ton, and he believed that
some makers were putting billets on
the market at even a lower rate. The
price is ridiculously low when It is con-
sidered that the price fixed after the
organization Of the pool was $20.25 per
ton at the makers mill. He also said
that some of the members Of the pool
are now selling billets at an actual
loss.
NEW YORK. December 23.-The Even
ing Post to-day prints the following:
Several of the most prominent steel
manufacturers who attended the confer
ences Of the billet pool in this city yes
terday, discussed the situation again this
morning over the telephone II was gem
orally admitted that no further agree
ment can be entered into with any feeling
Of permanence unless the interests are
thoroughly united upon better basis than
was arriy ed at last month.
AT one o'clock the following statement
was made by n representative OF one or
the largest concerns:
Nothing will be done towards uniting
the interests affected until general agree
ment IS practically assured upon a basil
warranting long contracts and justifyinl
a feeling of security. Lack OF such feelin.
in the past has led to our present diff
culties. 1t has been quite evident to some
Of the parties interested for some time
that pool agreements were not lived up 10
and that the complaints made at Pittsburg
had had some foundation in fact. No
body knows when we shall meet again.
but when we do I think that more will be
accomplished than was done yesterday
We want a definite arrangement, broad
enough to take in the smaller concerns de-
pendent on q general agreement for protec-
ton and yet rigid enough to prevent such
practices as led TO the Plttsburg rupture
Some OF the news agencies sent out
the substance Of n Pittsburg dispatch 10
q Philadelphia newspaper during the MORN
ing. announcing the probable formation
of a new pool without the Illinois Steel
Co.. the Belaire people the Schoenberg-
er company and a. Troy concern. A person
IN constant communication with one OF
the leaders in yesterdays conference de-
MED positively to-day that any such plan
was contemplated. He declared that an
agreement without the cooperation Of
these corporations would have little ef-
feet as their combined strength might
flood the market and supply under pres
sure nearly the normal demand.