The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-04-02
PRICES TO BE RAISED
Important Meeting at New York This
Evening Present Rates Said to
BE Too Low for Profit,

PHILADELPHIA, April NEARLY all of
the leading manufacturers OF steel billets.
rails. slabs and blooms, or their representa-
tives, will meet in New York Tomorrow
night at the Hotel Savoy. to perfect COM
bnation for the control Of the price and
the nature and quantity Of the output In
their respective branches of the steel IN
dustry. At a meeting in New York last
Friday evening the preliminary plans Tor
the combination were discussed, but, as ali
the manufacturing companies were not rep
resented. and as some OF the companies
were only represented by their agents, IL
was decided to adjourn till tomorrow even
ing. Meantime. the agents have submitted
the plans to their respective employers, VINO
will be on hand, and it is Understood that
they are unanimous in their indo1sement or
the combination. and will promptly adopt
plans TO consummate it. There are fro.n
twenty to twenty-five companies In the
United States which manufacture steel bill
let's for the general market. or these. 1t is
stated, the following will be on hand at the
meeting: Jones & Laughlin Company,
Pittsburg; Riverside steel works, Wheeling.
w. Va; Cambria Iron Company, Johns
town, Pa. Wheeling Steel and Iron Com
pany. Wheeling. w. Va; National Tube
Works Company. McKeesport. Pa: Illinois
Steel Company. Chicago; Bethlehem Iron
Company. Pittsburg; Pennsylvania Steel
Company, Steelton. Pa; the Carnegie. Mes
worth & Shoenberger Steel Company. the
junction Iron and Steel Company. Mingo
Junction, o.; the Johnson Company.
Lorraine. O.; Maryland Steel Company.
Sparrows Point. Nd; Ohio Steel Company.
Youngstown; Lackawanna Iron and Steel
Company, Scranton; Shenango Valley Steel
Company, Newcastle. Pa and the Cleveland
Rolling Mill Company. This list comprises
the chief billet manufacturers of the coun-
try, whose cooperation must be obtained
If the combination is to be effective, and II
panies fail to enter such means will be
adopted in dealing with them as will bring
them in harmony with the rest.
Despite the reports that have been cir
bination of steel billet manufacturers.
whose combined capital turns into the hum
dreds of millions. has not been formed yet
1t is expected, however, that a combination
plans of combination will then be adopted:
that definite agreements will be reached
as to the price and quantity of the output,
the terms OF mutual support and contribu-
ton, and the sta ndard of specifications
So far as could be learned from canvass
of the local iron companies. there are only
five with headquarters or representatives in
this city which are members of the COM
bination These are the Carnegie Iron Com
pany. the Cambria Iron Company, the
PENNSYLVANIA Iron Company. the Bethle-
hem Iron Company and the Junction Iron
and Steel Company any. The movement sne began gan
resentativ,s Of few Of the companies met
at the Stratford Hotel and attempted to
agree on some standard specifications In
estimating on iron and steel work. Since
general consent, it embraces that entire
branch of the iron and steel industry.