New-York tribune., 1900-07-07
STrE- IIEN AGREE. IT'S SAID
Plan E0R CHECKING DECENTRALIZATION
y THE TRADE REPORTED To
HAVE BEEN ADOPTED.

= i --1s-s,ood Ihat q virtual agreement was
rescued "a Thursday among abe large steel
-------.ss - 3 result of the conferences which
have been <--1E q IN this city for the last
week -- -vc Another conference was hesd yes
,z-zsy. r-- 1nts, IL is said on good authority.
.-c-.5=5 makers q pig iron. and had TO do
especially 1-ch The expected further reduction
r. re Prise q thst commodity Steel biuets
-zv z-<c ce lowered LITTLE II price. and il may
= -1z- -z= agreement among the companies
nay provide to- corresponding reduction n
,1= r-.e=s = manufactured products. although
.hz- s-=r : said - be unlikely.
WAX : certain. according 10 2 high authority
yesterday = that rate cutting is 70 cease and
-zs E=----z-izarica II The steel trade is 10 be
checked. -hs Carnegie company, II IS under
s-55 hzs been one q the prime movers in ef-
f=----E The -sw agreement Some Of the COM
vz-.=s had been psrstsIertly violating the for
--=- v=-az- agreerlenC. cutting prices at Will and
bringing ISs steel business down 10 q basis rep
res-----= 81 absence Of profit i not actual loss
W.-L q view = putting al end 70 this condition
G.. z@zi-s. The recent conferences were held. and
a. -z=s= cc15e-erces u IS said. President Schwab
stated plainly 70 The offenders the position OF
rs ---cra-y Re declared Il Is understood
-ta- -Ee Carnegie company desired only fair
play t-- was determined 70 haze that: that a
s---.5 - lived Up 70 by all the companies which
--.z-r E-v= chetr assent 10 il; and that his COM
rz-E. although not desiroUs Of crushing any
competitor. was prepared 70 use its immense re
sources II cutting far under the new prices
vE.-l might bs offered by company IN viola
,--- 1: me new agreement
N--= z the officers OF the prominent steel
companies would talk yesterday for publication,
ec-=- - CONFIRM or 70 deny the report that an
agreement had been arrived at. II could not be
zs-=-ca.-=6. either. what If any changes were
= IL made II The present prices. The following
dispatch from Pittsburg was published in a
leading iron trade journal Of this city:
----- meeting Of The leading steel interests and
- 1zsse-e- Pig Iron Association : 10 be held in
~ ---e = ssse-=r iron VIII be put for July de-
Pt--ss-rE L i very doubtful II business can be
6--H -l -LESe prices consumers have evidently
s. and steel below 81 before they viii buy. IN
:a-r. 6=sser-er iro1 could b bought to-day below
So = l2e -s ~ Gays; eno eoGIe & beSSeIner sen
s1s-e1 Z he FJts6lrs market al SO but I local
dE- and = selling mostly IN carload lois. We
quote local No. foundry iron al Es4<ls 80 Pitts
The stock market was weak yesterday. and
some OF the steel stocks suffered slight Declines
on small transactions. American Steel and Wire
common closed al 325s, a net loss for the day Of
Is per cent. and the preferred al 72l4. net de-
cline : ce- cent. Federal Steel common closed
at 33-s ret loss 5, the preferred gaining y per
cent and closing at 60. National Steel common
lost = Per cent, and the preferred lost u per
cent. steel Hoop common declined 8 per cent
while the preferred gained L per cent. Tin
Plate common and preferred each advanced
Per cent