New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-09-25
SENATOR WASHBURN'S VIEWS
THE INFLUENCE OF TRUSTS ON THg
PRICE or STEEL RAILS.

To the Editor Of Tho Tribune
SIR: on my return home from quite pro.
longed absence my attention has just been
called to an editorial In The Tribune OF the 18th
inst. in which you criticse some OF my state
ments In the issue Of the day before. II seems
to me that this article. in many respects. "a
hardly ingenious
Speaking Of my interview, you say;
His cole example Of the raising Of prices By
trusts or corporations IL that steel rails year
and a half ago sold at SIT. and. as result 0,
trust manipulation. steel rails now sell az $40
a ton or thereabouts OF course. the profit 1,
exorbtant.'
You 20 on to say:
Mr. Washburn should surely know that no
trust or combination, no corporation or con-
spiracy Of corporations, controls the price 0,
steel rails that the great producers are even
now engaged in turning out steel rails sold a,
SIS a ton or thereabou that $50 ton Is stat
cd to have been obtained on a contract for de-
livery next year by one 81 the entirely ndepend.
ent Eastern concerns because the great West
ern producers are not anxious 70 bind them
selves as yet so far ahead. and that the emer-
goncy prices which people have 70 pay for quick
delivery Of small quantities cannot properly be
treated as the prevailing prices etc
This statement Of yours, II not absolutely un-
true Is certainly very misleading. Rail mills
are no doubt now engaged In turning out rails
sold at SIS ton but such rails were contracted
for from ore to two years ago when the price
was Sl7 or SIS a ton. venture TO say that no
rails have been sold in the last six months FOR
any such price on the contrary. the price has
ranged, as l understand, from S2I 10 S32 ton
To-day no contract can be made. East or West
Ifss
Chicago That is the price Of rails to-day and
the fact that rail mills are filling old orders at
S1s ton has nothing whatever To do with the
present price.
Further on in your article YOU state;
Further the ex-senator should surely h
aware that rails al S1s a ton last January were
81 - ton higher than Bessemer piC at Pitts
burg. that difference representing very narrow
margin for cost Of conversion and FOR profit
bur at the price named. $50 ton mr. there.
abouts. steel rails would he less than - A ton
higher than Bessemer pig. which IS now quoted
at over SOB a ton at Pittsburg'
In making this statement you seem 20 lose
sight entirely 81 the fact that the interests FUR
nishing the pig at these advanced rates are
substantially the same as those manufacturing
the rails II matters little whether this large
advance on the price Of steel rails Is applied to
the price Of pig iron or 10 the cost - manufact-
uring the rails a precisely the same interests
are involved. But still the fact confronts Us
that the price 81 rails has been advanced from
Sl7 10 $50 ton This while the demand FOR
steel rails has been exceptionally large. could
not have been done except for tho combination
that has been entered into among the different
steel rail mills Of the country.
do not of course. expect every one 70 agree
with me In the different positions take in con-
n.ction with this trust matter. but | certainly
desire that paper which is always 50 intelli-
gent and eminently fair i'm the treatment Of all
questions should not put me in a false position.
Earlier in your article you say:
His own experience in connection With the
formation Of the -four milling combination will
be remembered and appreciated as likely TO In
nuence his mind"
really do not understand what you refer
by this insnuaton. have never attempted
or have | had anything to do with the fornI
ton of trust in connection with the Touring
mills or anything else. As A matter ot fact
! have never been involved or taken any Interest
! IN any Of these trust matters. except that re-
| sisted quite effectuay the attempted transfer
! Of tha two milling concerns with which am
connected 10 Wit. the Pillshury-W ashburn and
! the Washburn- Crosby companies, 70 trust or
sanized by Mr. Mcintyre. Of New-York for the
purpose OF controlling the Touring mills OF TINS
country I opposed vigorously the sellins OF
these properties to the trust created ny Mt
| Mcintyre. -.
In conclusion. 7 will say that agree WIN
YOU fully that the voters OF this country a''
generally not i'll informed and willing capuves
Of prejudice" etc. and assure you that 'ne
great masses Of intelligent voters, or "hat MI
Lincoln would call the plain people OF "'7
Northwest have not been Indifferent observers
~ what has been going on in the last year of
two in connection with the formation al trus's
and what they believe to be the very oac e'
fects likely 10 follow. changing almost INC
character Of the civilization that has grown W
under our republican form OF government
W. D. WASHBURN
Minneapolis Sept. ~, 1899
There was no desire or Intention 70 say an''
! thing disparaging 10 ex-senator Nashou'H
regarding the milling combination, In thar con
troyersy what we had understood to oe 10
| course seemed evidence OF wisdom his u'
| ri