Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1897-02-13

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Pittsburg. Feb. 13.-At o'clock yes
terday the Carnegie Steel company an
nounced that the price OF steel rails
stood at 81 to SIS per ton. the stiffening
in price being caused by the heavy de-
mand. The slashing OF prices h still
the principal topic in iron and steel
circles here. but IL seems that the Car
negie company Is now controlling the
price of rails. ]. w. Gates, president Of
the Illinois Steel company. who was re-
ported to be on his way to Pitsburg to
confer with the Carnegie officials with
view to stopping the rate cutting. did
not stop here. but went on to New York
Mr.. Carnegie. who was busily engaged
at the company's Office. said he had no
Information to give out. It Is estimated
that the mills have already booked suf-
fcient orders to keep them running
steadily for several months to come, Civ
ing employment to thousands Of work.
men.
Sharp Rally In Prices at Chicago.
Chicago. Feb. 1S.-There was a sharp
rally in the price quoted for steel rails
in Chicago yesterday. but aside from
this there was little change I'm the status
Of affairs resulting from the collapse Of
the great steel rail trust. In the alb
sence of President Gates. Vice Presi-
dent Palmer. OF the Illinois Steel COM
pany. made this statement: "Our price
for rails today Is $21 a ton In Chicago.
We have booked considerable tonnage
at less than SIS a ton ut Chicago. We
do not know what prices are being made
by other works" The Carnegie COM
pany also showed a disposition TO let up.
but the advance was almost wholly I'm
the Chicago market.
Change for the Better ~ Phi,adciphi..
Philadelphia. Feb. 13.-Oficials of the
Pennsylvania Steel company and Beth
lehem Iron company. In speaking OF the
rate war in the steel rail trade. said
there had been q change for the better.
and that the prices were steadying In
east and west. 1t was stated that an
understanding had been reached be-
tween the Cambria, Pennsylvania and
Bethlehem companies. It was positive
ly asserted that none OF these companies
had sold below the $50 rate on eastern
business. but that the Cambria company
had met the cut Of the Carnegie and
Illinois Steel company and accepted west
| ern orders on the basis of SIS in Chicago
| A special transaction was made at SIS. 50
by Bethlehem for eastern delivery, but
Joseph Wharton. q director of the COM
| psny, said the $50 rate was being main
| tanned. and that the sale referred to was
understood by the other companies.
Millions Being Thrown Away.
Asked whether there was any move
ment on foot looking to a reorganixa.
ton of the pool. Wharton said: None
that ! know Of. 1t may be that the
violators of the agreement will see their
mistake and want to patch matters up
| again. but that is a question no one can
answer. At present millions Of dollars
are simply being thrown away. and this
fact itself will probably bring matters
to an early conclusion.
General Manager Charles b. Price. OF
the Cambria Iron company. said there
was no profit in selling rails at 81. OF
| even 500 and added: I'VE will simply be
obliged to put stop to expenditures In
| some directions to meet whatever los
there NAV he nf fine end NJ fhe 6Uhs