New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-11

of which material. it is understood. being for
use in improving the roadbed of the Atlantic
and Pacific branch of the system.
The Lake Shore and Michigan Southern road
gave an order to the Illinois company for 1000
tons at sd. In an interview to-day with Presi-
dent Gates, of the Illinois Steel Company held
after the annual meeting of the corporations
stockholders, he stated to reporter for the
United Associated Presses: The Illinois Steel
Company's price for steel rails to-day Is SIS in
Chicago. We have made sales since the dissolu-
ton of the Ramakers' Association. We
getting orders to-day at the reduced price.
Jealorsies and dstrust broke up the Steel Rail
Pool"
What do you expect will be the effect of the
Carnegie Rockefeller combination against your
company"
Il rather think we will be making steel rails
FOR some time TO come. We will stay in this
fight as long they do. We were not members
or the Ramakers' Association, and always re-
fused to join the pool Prices of steel rails will
take big drop during this year. The reduction
VIII probably represent loss of SlJOoO,OOO.
II will certainly be S1O,000.O0O, and may be
Sl5,O0oO0. The starting Of this cut-price policy
is piece Of vandalism on the part Of certain
competitors 1t was the act of agents who were
Entrusted with millions of dollars Of property
without authority from the owners Of this vast
capital"
will there be any change in the management
or policy Of the Illinois Steel Company during
the year?"
There will be none that know Of. There
will have to be considerable trimming of eX-
penses to meet the decreased revenue from the
low price of rails, but our general policy of re-
trenchment on account Of trade depression has
been in operation for some time"
In the matter of reducing wages as a means
of omsettng reduced revenue. il is announced
that the Metropolitan Iron and Land Company,
OF which the Illinois Steel Company is the chief
stakeholder. to-day cut the wages Of all en-
ployes 10 per cent at all their mines i'll the
GOgebiC range
The reports to the traffic and railroad agents
to-day from Pittsburg that the Eastern
mills had cut the price TO $lI In Pittsburg.
EACH ACCUSES THE OTHER.
Pittsburg. Feb 1O-A war for business IS
being waged with savage competition between
the Carnegie Steel Company Limited, Of Pitts
burg and the Illinois Steel Company, Of Chicago,
The fight began in Chicago Monday after the
break Of the steel rail pool, when the Illinois
concern charged that the Fittsburg firm was in
vading its territory and was shading prices. To
meet the competition it met the prices onered
by the Carnegie Company's agents. and the lat
ter came back with still lower prices. The rail-
road buyers played the two firms until open quo
tations to-day were ST. Pittsburg and SIS Chi
cagO for rails of standard sections, which means
actual selling prices of SO and SIG respectively
Just what roads placed orders with the Carnegie
Company are not given. but it is not denied That
orders aggrcgating a large tonnage have been
booked for delivery the coming spring. II is es-
timated that orders aggregating 0OOUuV TONS
have been placed during the week by western
and Southern roads
Regarding the story from Chicago that an al
lance offensive and defensive has been entered
into by the Carnegie and Rockefeller interest,"
little credence is given to the report in Pittsburg
AT the offices Of the Carnegie Steel Company no
expression of opinion could be obtained regard
ing il.