The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1897-02-11

The disruption of the steel rail pool
was the one topic that enerossed the
attention of the steel workers of the
city yesterday and in business circles
it was also a much discussed topic.
What will the breaking of the pool
mean for Scranton? was the question
that everyone asked and that no one
appeared able to satisfactorily answer.
1t seemed to be the general impression
that the collapse of the pool will mean
steadier employment for the men work.
ing in the Scranton mills than they
have enjoyed for several years.
The mills of the LaCkawanna Iron
and Steel company control the steel rail
situation so far as the east is concer:ied
and there is every probability that the
officials of the company will see to it
that they get at least their full share
of the orders placed in the East. The
company is now selling rails at $50 a
ton and it is said can go several dollars
below that mark without actually los
ing money.
In Chicago Tuesday Carnegie sold
rails for $17 a ton and in Pittsburg
the same day he disposed of them for
$l4.25 per ton, a drop of SO since the
/. Although the perfect machinery in
Carnegie's Pttsburg plant renders it
possible for him to make rails somc-
what cheaper than his competitors it is
said by those who are familiar with
the details of the steel rail business
that he loses about $l.50 on every ton
he sells in Pittsburg at Sl4.@5. That
condition of affairs cannot go on indef
,1it of 10 a
weaker concerns must go to the wall
if the fight which has already begun
should be conducted with vigor for a
few months. In some quarters the
Lackawanna Iron and Steel company
of this city is held responsible for the
disruption of the pool but the blame
should not be laid at it's door
POSITION OF LOCAL COMPANY.
a man who is we'll versed in the Sc
crets of the steel rail trade and who
is in position to know what the Lack
aWanna Iron and Steel company has
been doing said to a Tribune reporter
Yesterday: AS / view the situation
the breaking of the pool is misfor-
tune to the steel rail trade and think
that fact will be apparent before many
months have elapsed The IackaWan-
ma Iron and Steel company was forced
to withdraw because the companies
with which it was associated in the
pool We're not honest. Since Jan. the
pool price for rails has been $25 a ton
yet several companies have been quiet
ly making a lower price than that
when they found they could capture a
good size order by so doing.
This, of course, soon became known
to the officers of the Lackawanna COM
pany and they withdrew from the pool
and went out into the market and OBJ
tained the best price they could for
their rails. That price was $2O ton.
When this became known among other
members of the pool an effort was
made to prevent a general disagree
ment, with the consequent demoraliza-
ton of prices. At a meeting of the rep
resentatiVes of the pools in Pittsburg
Monday a strenuous effort was made
to prevent it's dissolution, but without
| avail. 1t was decided to let each COM
pany look out for itself, getting the
| best prices it could, and all the orders
| that active sales agents could secure
This decision was also influenced by the