The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-11-15
STEEL In GREAT DEMAND.
J0HN W. GATES EIAMINkD M TIE
ISDUsIRI<L COMMISSION.

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No., -. p.,,...s. al sh,,bu,Ider,-
N. E,,ar. N,,,,, Al Corpornttop Law
Labor. sbnr, of IN. Present Prosperity.
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ne, as inui''uuoa is s ~ 81, 49," -
a"'' o''iiousu many VI ~. ~, - -,
u,nons' "ie company uenS WIN lin 10 '"''
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SUI 'on ',, ~ "a' sro'' i'u, ,, Nv"
p,'''' 80, .,, " .'o'oieu anu ,'
grcss shouId enact corporation law ana ohorso
high fees for Incorporating combinations. nnd
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"'" p'o"o' u'ou- iho .o,po''uo'' "ouu
port 'he government ana thc advantages "ou'u
be reciprocal High fees would prevent over
Capitalization In reply 10 A question nv Repre-
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sentative Livingstone MI Gaics SAID ne houeh.
the passage of a national corporation law would
satisfy the demands Of the ropuli'ts Mr. Iiv.
inEs,ohe Sniu uat thht statement inumn'eu u,o'
the Republicans were already satisfied with the
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IN MS OPINION tho hepub'lc'' party had always
been more favorable to the ptoaoaon Of industrial
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party oi progress he SAID. ana under luz regime
The great Industries Of the United States had been
'u'' w "n'' "'e, n."'heu 'no' p'osc"' en''i''n,o
In speaking of the foreign business done by
tho American steel and Wire Company. Mr..
Gates said Thai The componv was averaging
snn Nv
Office alone was doing busi ness Of from $50. GOO
10 $40 900 n day TWAS sollinR IL. product abroad
A, presrn, for les, i, ss,,iny n ,his com
try. but this condition was subject 10 changes
Sometimes priccs were lower here than abroad.
IL all depended on me state oil me market Tie
company treated It's foreign business as an en-
urely separate department from It's home bush
N 'no k'a' oo!ee' VI VIC 'o"'Pa"s "as "
Keep all Us plants IN operation, n.gh. and day.
al uelr iuIlcss capacity. ana W DO ulls ~ must
sell in whatever narAet 1t could Ind, by lhis
Ne end uis American consumer had Tie better
p'utor oi the company and the German manu-
iac.urcrs had greatly he advantage oi ule Amer
lean as theaf government grained them subsi-
dcs They also had mo advantage oil govern
mental regulations OF railroad rates 10 Tic sea
hoard and uleir producls were Transported IN
subsidiEed vcsscls The American Steel and
Wire Company MAD large chinese trade which
was steadily improving. Inc only people, Who
had suffered frum the consoiidauon oil plants
u the American Steel and Wire Company were
Tho commercial travellers While the company
was now employing Lon 90 W ~ per cent more
men than formerly 4, had cut on irom 200 70 $40
travelling men rms was due 70 he inct mat
there was no longer any necessity for them as
tho business could now Do handled ny uhriy
or forty men.
MI. Gates said no was now paying 80 70 soo
a ton for stcoi Somoamos ne was selling me
Manufactured pfoduet ior iess thah no paiu lof
tho raw material no one had bcen able 70 lore,
co tho great rbe IN prices and no one could teII
how long u would last or where the prices were
going. Ills company bAa MADE contracts lor
wire al Two Genus pound ana IN some cntes
IL paid az high as $50 ton. The heads OF the
stool companies agreed Win him that IL would
have been better Tor Mo Industry hhd mol prices
gone 50 high The public had been miseaa
to the profit 70 tho manufacturers Most OF
II went " the makers of the steel as ~ opcn-heAIu
steel at SIS and 80 ton There was Large margin
Of profit Tho laboring men had also benefited
greatly as most Of the work was done on tonnage
basis and the higher the price lie niore The men
secured.
Tho great demand for steel. he snid. was duo
partly 10 the railroads and partly ~ tho ship
builders This VAS lac believed. the hrst year