The sun. [volume] (New York [N.Y.]) 1833-1916, 1896-04-04

VIII Carry Out Their Plan to Better Trade
Trustees and n Pool Commission.

VIII Carry Out Their Plan to Better Trade
Trustees and n Pool Commission.
The convention Of Bessemer steel men. which
began ut the Waldorf on Thursday morning,
ended last evening. The proceedings were all
secret, and when the meeting finally adjourned
those who were in attendance had little to say
about the business that had been done. George
7. Oliver of Pittsburgh said that the conference
was harmonious and successful, and that the
objects for which the steel meu met were ac-
complished. All the details were arranged as
they had been decided upon at Thursdays ses-
sion and as outlined in the statement published
in THE SUN yesterday. Recently the price Of
steel billets was advanced from SIT to SEQ
a ton, and tho manufacturers decided
to maintain that price. The members of
the association say there will be no re-
s~triction upon the output of any particu-
lar firm. At the same time 1t is understood
among them that there Is to be no over
stocking OF the market. They say that the Bes-
semer steel business in the United States has
been a losing one for the greater part of three
years. mainly through the growing influence of
the mlddlemen ana the unwholesome compe-
tition among the manufacturers themselves.
For this reason it was decided to limit the pro-
duction as q whole, in so far as doing away with
after ali negotiations will be conducted by the
producer directly with the consumer without
the Intervention of the middleman. There will
be no attempt to corner the market,
deemed best to Withhold the names Of the COM
mitteemen from publication for the present. 1t
was thought wise to arrange for a perpetua-
the manufacturers wished. should not be re-
The steel men declared that they have not
even indirectly formed a trust, but have merely
business Within the laws Of the United States.
The new steel association will have q Presi.
dent. Vice-President, Secretary, Treasurer. and
other officers. but of course there will be no
shares or stock. The hope was expressed that
half a dozen large steel manufacturing firms
concerns invited to join that cannot
d dE s1; Dee or Consumer : in.srS IN Hf illinois there m are
peculiar State laws which may be interpreted
as somewhat against the association. 1t was
the opinion of the majority OF the representa-
tives present at the conference that the price of
steel will not BIO advanced above $50 and 1t
icns S se0q qsdace GF0 soSswh snH' The # w %aaut are
turers expressed an intention to keep the
the trial OF improved methods OF manufacture.
and the expectation is that the steel business
will soon be upon a steadier and more substantial
basis than for several years past. For a short time
last fall the business was profitable, but 1t re-
lapsed into the unfavorable condition which
called for the conference which has just been
held. a circular G2ntalping an official report OF
ufacturersw within a few days.
The concerns represented at the Convention
were the Cleveland Rolling Mill Company. the
Pennsylvania Steel Company, the Otis Steel
Company, Bellaire Steel Company. the Union
Steel Company, the Shenandoah Valley Steel
Company, the Wheeling Steel Company, the
Maryland Steel Company. the Wheeling Steel
and Iron Company, the Wheeling and Ashland
Steel Company, the Carnegie steel Company.
the Hainsworth Steel Company, the Jones IL
Loughlin Steel Company, the Bethlehem Iron
Company, the Cambria Iron Company. the John
son Steel Company, the Gilbert Il Warner Com
pany, and the Lackawanna Iron and Steel Com
pany.