The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-04-03

NEW YORK, April 2-Representa-
tIves Of the twenty-one leading manu-
Sacturers Of Bessemer steel In this
country were in sesion here to-day.
One of the members of the conference
saId that there would be no adjourn
msnt until something hadtbeen done to
reg,Ilate the amount Of production.
II is denied that there p any inten-
tlop.to form trust or pool
AZ the conclusion Of the meeting
George T. oliver. president of the
HoInsworth Steel Company, Of Pitts
burrh, Pa, made the following state
ment: a,.. -. ...,..
last fall tho manufacturers OF Bessemer
steel in tho United states nave peen
conduotinE q losing business Tor the
S,ost thSe9 YEAR. This has resulted
p%ST ,nore through the growing influence
~ the midhImen than on account OF
competitIon between tho mRn1ifae-
turers themselves.
with the purpose IN view Of elirni-
mating such influences, and OF bringing
nSomt cio11r relations between buyer
end seller, the steel nep met In ges-
aim and have succeeded tp agreeing
among themselves that In the future
ali Negotiations shan be conftned
strictly to the producer on the one
hand and the consumer on the other
ut Is not intended 3 restrict produe-
tIon, except 20 Tar as sncn restrletlohs
HrIlI be brought about by doing away
with such fictitious transactions ana
the combining of business to tho actual
wants OF the country. In many m
stances a tnIddleman viii purchase
st4eI In largo Quantities from o manu-
Ssrt,,rer Tor which he has no customer
in sIFht. When the tim0 OF delivery
arriVes the manufacturer VIII natur-
aiiy expaCt bis customer TO furnish
gpecifcations tor the steel his only
course is to dump It on the market az
any price It will bring one sueh
transaction has In many instances re-
sul6ed Ia the demor8lizen o. the eng
tire market and even the business tor
fbe rest Of the season. We hope
throuRh the influence OF this orEaniZa-
tlon and by frequent neetings and in
tsrchnpga OF VWs to 90 away VIII
~ evil, wa 6hihk va can 90 so,
'srlais orponiIation does not include
aIl tha manufacturers OF Bessemer
steal. nor q such unanimous action
necessary. The great firm OF Schoen-
berger & Company, OF Pittsburgh, is
not rGnr0aaatOA at al. neither m the
Illinois s1St2e1 Company OF chicago
bound by ne action Of our members,
but there IS no doubt in our mind that
both 81 tfieaa large interests VIII act IN
bsrrnoi,y with other manufacturers, as
neither has the reputation OF being 9
disturhar4n the market
'Tt Is not our Intention TO bring aeeNt
any undue advance in the price OF steer.
The price which has been agreed upon
for ne present, so per ton, Is fully JUS
tihed by the strong advance which mas
taken place within the pa5t two weeks
in pIG non and iron ore, and II is really
dotbtfal whether In view OF tho existing
conditions manufactures can make
any proat 8t that price.
Mr.. Oliver admitted with some re-
Ipetance that another meeting would be
hSIS to-naoFFoN aftarnoon. He inti-
mated that organization would proba-
DIV be efteoted at this meeting.
Andrew Carnegie, who has Just re-
turned from Florida, said to reporter
mat ne had not heard OF the proposed
Combination OF steel manufacturers.
~ don't think Il will amount TO much, :"
CONTINUED Mr., Carnegie. I'm times OF
deufeE8idn and stagnation, people arc
diSposed to get together ana agree to
suspend the law OF composition. But no
permanent results follow. 1 never be-
iIeved In combinations. They are only
for weak people. They give little
temporary strength TO these weak per-
sons. but they are not good for the
strong Ondlheaithy,"
what tS-your'o opinion OF the general
outlook In ttisineSs?"
well, business IS not good" he re-
pled. IA Fenernl depression prevails
and I.think that we must get the presi-
Dental election over before we can hope
for general prosperity. After that l
hope that the currency system OF the
government win be placed upon a
proper financial basis, so that we VIII
get rid Of the agitation for change OF
ataHdAFdn -