Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-02-12

with the Japanese government at ST.
per ton f. o. b. cars at Pittsburg.
The collapse of the rail pool means
prosperity for the iron. steel, ore and
\ coke industries. With high prices
\ railroad companies were prevented
from buying. and the production was
far below the normal. Ii is said that
1 rails are selling in England at S24 a
/ ton. IS the freight from Pittsburg
/ across the ocean is $3.50 a ton, il is re-
ported that the Carnegie Company and
! other producers of rails will export
! some Of the product of their mills. 1t
/ is reported that the dissolution of the
/ rail pool was partly due to cuts ID
! prices made by this company.
Henry W. Oliver, who engineered the
/ recent ere deal. t. to leave for Europe
/ on Saturday. Owing TO his close con-
nection with the Carnegie Company, it
: is said his trip is fer the purpose Of
making contracts with foreign consum-
/ erS.
a manufacturer. who is not directly
( interested in the rail business, does not
/ believe an American manufacturer can
/ get a market in England. as the margin
I of profit is tcO small. The latest quo
tation / have received Of the price of
rails in England is S2250 said he.
. With rails at SIT here and $3.50 freight
added. it would leave but 81 profit, be
sides the profit on the product at ST.
if there is any. English consumers
would. in my opinion, prefer 10 pay
dollar or two more and have the rails
made ON that side of the ocean.
The IrC0 Trade Review in the cur
rent issue says:
/ Though not like a bolt out Of clear
sly-iGr the clouds have been pienti-
fU' of late-the announcement that the
steel rail pool had gone 10 pieces shook
the iron trade profoundly. Ii meant
( the sweeping away Of the chief bulw2rk
of The steel manufacturers against a
+ prOhtless struggle for supremacy, and
/ the belief that the giants are now will
. Ing 10 Try conclusions in an open field
eXcites the livehest speculation as 10
| the outcome
PittSburg. Pa, February 11.-Andrew
/ Carnegie arrived in the city last night
and was cl0seted with the officials Of
the Carnegie Steel Company, Limited,
denying himself 20 all interviewers.
I None of the officials of the company
| would express themselves on the recent
/ collapse Of the billet and rail pools and
/ the threatened dissolution of the iron
ore combination. The iron and steel
/ market is in a highly agitated state
over the present condition, but 1t is
/ evident that the Carnegie Company is
I by no means worried over the prospects
+ Of an open market with the tiercest
competition. A prominent steel man
ufacturer said. "As far as low prices
are concerned, it is generally conceded
that the Carnegies are prepared 10 COM
pete under any conditions.
Their recent completion Of the two
f largest blast furnaces in the world, by
/ which the cost of pig iron is reduced,
their alliance with the coke interests,
and the fact that they are paying a
wage scale which contains ten per
cent bonus that can be taken off at
any time. gives them an advantage that
is conceded in iron and steel circles.
/ A matter that is interesting the trade
particularly at this time is the question
whether the iron ore combination can
withstand the influence that is wreck
ing the combinations on finished pro-
ducts. Last year the output of ore was
aDpOrtioned among the producers with
view to limiting that production TO
+ 100000 tons. and putting the price
up from $3.50 per ton TO $500, and sus-
I tanning ii at that point.
This was accomplished throughout
. the year. but il had as sustaining in
nuence that steel rail. billet and beam
pools. which kept up the price Of finish
ed products. The recent fifty year lease
of the Mountain Iron Mine, in the Mes
/ aba range. from the Rockefeller inter-
ests by the Carnegie Steel Company,
may prove a large factor in the ore pool.
I IL will enbla this company TO secure
large amount of its ore at decided adj
vantage. and this advantage will be
enhanced by the new railroad rate on
the Butler and Pittsburg railroad.
which the Carnegie Company is build
ing from Pittsburg 10 the lakes.