New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-12
STILL SLASHING PRICES.
THE CARNEGIE COMPANY MAKES AN
OTHER BIG CUT IN RAILS.
THE PRICE REDUCED TO sli25 TON IN PITTS
BURG-A BITTER WAR FOR SUPREMACY
AHEAD-THOUsANDS or MEN
PUT AT WORK.


AHEAD-THoUsANDs or MEN
PUT AT WORK.
Pittsburg. Feb 1.-THE situation In the steel
rail business this morning shows that the cut
ting Of prices has resolved Itself into a bitter
war for supremacy. 1t is learned that the Car
negie Steel Company is meeting all competition
OF the Illinois Steel Company. and has instructed
It's representatives in Chicago to sell steel rails at
Sl7 in Chicago or sl4 % In Pittsburg, lower
figure than has been quoted In any reports
printed.
When the pool went to pieces in the Pitts
burg meeting Monday agreement Is said
10 have been made between the two big con-
Germs operating west OF the mountains to MAIN
tain prices. which were then fixed at $50 in
Pittsbure and sd at Chicago. but each firm
was to go after any business that 1t could OBJ
tain. President Gates, of the Illinois Steel
Company, IT is alleged, went direct to Chicago.
and within two hours the wires were burdened
with messages TO all the railroads Of the West
quoting rails at SIS The Carnegie company
at once issued orders to their agents to meet all
cuts that might be made and. a result. to-
day the Carnegie company at Chicago is selling
rails at 81 - per ton which. with the freight
from Pittsburg added makes rate Of ST. and
the war, it is said is to be waged to the Bit
ter end.
Andrew Carnegie arrived in Pittsburg last
evening and held A conference with the officials
OF his company this morning. Mr. Carnegie
was not accessible to newspaper reporters to-
day. but it is understood ne is personally direct
ing the policy Of the company In the war
now on.
Furnace co." Of the Carnegie plant at Brad
dock lighted today II has been out OF
blast since last April. 1t will furnish employ
rnent for 200 men. BY the end OF this week
eight Of the nine furnaces composing the plant
will be making iron. giving employment to
about 500 men. including those who work In
the Yards.
Chicago Feb. 11.-All the mills Of the Illinois
Steel Company's works at South Chicago
started at fun blast yesterday for the first time
in many months Nearly 5000 men returned
to work. Wages all along the line were cut
from 10 10 u per cent
The Bridgeport Works, which employ about
$500 men, are expected to resume soon, with
reduced wage scale similar to that OF the South
! Chicago plant
The war Of the steel rail giants did not under
go any change in this market to-day so far as
tho selling price is concerned, but the hostile lines
| were arravcd as strongly against each other as
on the first dav Of the week The fact that the
present necessities Of prosperous railroads in the
steel rail line have been satisfied in large meas
ure by the big contracts made in the last re"
| days with the Carnegie and Illinois steel COM
panies accounts for a stop in the price cutting
| The Carnegie price for steel rails anywhere
| was to-day 81 ton. At this tempting hgure
| the following orders have been placed: twenty
five thousand tons to the Chicago. MILWAUKEE,
and ST. Paul Railroad; 10000 tons to the Atchi-
son. Topeka and Santa Fe, and l4oo tons 10 the
/ Chicago Hammond and Western.
! President Gates of the Illinois steel COM
ran,. left here today for Plttsburg. The object
Of his trip is kept n secret by other officers or
the company here but considerable significance
IS attached to his departure by iron and steel
men. H. his absence Second Vice-President
Palmer said to a representative of the United
Associated Presses: THE Illinois Steel Com
pany sold rails to-day at SlS per ten. We un-
derstand some Of the Eastern mills have offered
them in this market for SlI"
"Do YOU look for the dissolution Of the iron
ore pool as a result Of the rail and billet pools
| going TO pieces?"
1T is safe to say, speaking generally that there
is no such thing to-day a pool In the iron
and steel business. We have nothing TO do with
the ere pool"
Although SIS was the price officially given by
the Illinois company for to-day. the inside opn-
ion is thai what rails were sold to-day by the
| Western concern were at the Carnegie price Of
! Si7. The preference for placing orders with the
Illinois company would only be given by West
ern roads when the price was cut TO the Carne-
gle quotation.
Jonrstown, Penn. Feb. 1l.-"You may say"
said General Manager Charles b. Price. Of the
Cambria Iron Company. to a United Associated
Presses reporter to-day. that the Cambria Iron
| Company will take all the steel rail orders it
can possibly fiji at SlI ton II the price goes
lower We will meet the figures. The Cambria
Iron Company will not quit the field. 1t is In
the fight, and will stay in it to the end
Concerning the outlook for business Mr. Price
expressed It as his conviction that from now
on there will he enormous production of
steel rails. This will mean" he said, that
business viii revive in every other direction"
can you make steel rails for ST. at a pro1t?'
| Mr.. Price was asked.
"No. but that win not matter to the Cambria
Iron COMPANY. We will simply be obliged TO
put stop 10 expenditures in some directions TO
meet whatever loss there may be at the end Of
"Wii the price go below SIP"
81 DO not think So"
cyrus Elder. solicitor for the Cambria Com
pary. regards the story that Carnegie and
PorI,cfclfr DESIGN To control the steel rail mar
kcts IF the world as Wild newspaper talk. Com
corning the reported Carnegie Rockefeller COM
| bination 10 that end. Mr.. Elder to-day said: II
| Carnegie and Rockefeller have any such idea In
view. they will find that this is a very. very
large world"
Mr. Elder did not know what effect the drop
I'm the price ~ steel rails would have on the
Cambria COMPANY but he said he guessed that
/ whatever happened the Cambria company would
he able 90 DO business at the old stand.
Stryvcsant Fish, president OF tho Illinois Cen
ID rI Of no. Id lrfu NJ con-
tracts for 0co tons Of steel rails
..Tr, directors not only authorized the purchase
Of o. 900 tons " steel rails recommended by tho
chief engineer for this years renewals. but also
/ a allied themselves OF the low price to buy 246n
Ton. additional The steeI-rlil combination has
! l..r ~ Ln irala N