Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-07-27
BIG IRON MEN CONFER.
Important Conference Of Iron and
steel Men in Chicago-D Discuss
Prices
Deny That Shut. Down Will Occur
Under Consumption Instead
Of Over Production.
Iron Age Says Every Mill Will
Close for One Month to Reduce
Production.

which has been in session the past two
steel and iron interests of the country,
concluded today. President Gray, of
the Federal Steel Company, gave out a
formal Statements: ..rndue prominence
his been given tc the meeting. Presi-
dents and members of the leading pro-
ducers of iron have been in consulta-.
ton concerning the general situation.
There has been no agreement or dis
agreement concerning future action.
1t is the opinion of all that if at any
time in any territory The demand is not
equal to production the same should be
curtailed until conditions change''
Chicago. July .-Representatives OF
nearly all the principal iron and steel
companies are in the city for the pur-
pose of attending a conference in the
offices Of the Illinois Steel Company in
The Rookery building. a preliminary
session was held yesterday morning.
but nothing was done, as some of the
leading persons in interest could not be
present. The meeting was adjourned.
therefore. 10 10 O'clock this morning.
The principal parsonage Who delayed
the meeting till today was President
Schwab, OF the Carnegie company, who
was in the city Wednesday,. but who
was recalled to Pittsburg that night.
Among those present at the preiimi-
nary meeting We're President Gary and
II. H Porter. OF the Federal Steel Com
panN; President Warner and Vice Pres
ident Thompson. of the Republic Iron
and Steel; Chairman Clifford and Pres
idsnt Palmer. of American Steel and
Wire, and representatives of the Moore
Steel and iron concerns.
According 10 President Gary OF the
Federal Steel who was agreed upon a
the one member of the conference TO
give Out Information concerning ii, the
present meeting is one of a series, the
preceding assemblages having been
held in New York. Its object, he said.
is simply to talk over the steel and
iron situation, discuss the conditions of
the trade, exchange ideas, consider
suggestions as to the best methods OF
improving business.
When asked il the conference had
any relation to prices or any Limitation
Of production he replied.
We do not expect to reach any
agreements as to either prices or pro-
duetion. These things will proba bly, be
considered. but We do not contemplate
any agreements affecting either. We
are nesting here simply to talk over
the situation and to exchange ideas as
% the ways Of Improving business, the
same as We have done herstocora In
New York. The reason We happen 10
/ all be in Chicago at this time is that
sonle OF che members of the conference
could not go east. Theirs will not be
4 any general closing down Of mills as a
result OF the meeting Some of the
Federal Steel companws mills ara
eiosed down ard have been for some
time, but We nave orders enough Ia
keep the rest going,
There Is no overproduction of steel
kand iron products. 1t is rather an un-
4 derconsumptior This being presiden-
4 tial year, consumers of steel and iron
are buying only what necessity die
tdtsS. NO oli.. Is ldhiIfS OH more slt@cK
i than he needs for Immediate use. and
4 will not till the presidential question is
settled
I Representative Of other compan MES
Il declared that there was no Intention Of
'I5closing down any more of their mills.
i The Iron Age in discussing this con.
ference says:
The plan proposed is to cut dowr
production as much as possible Every
blast furnace controlled by these inter.
ests is 70 be closed. under agreement.
for one month, the Federal Steel Com.
pany, the Carnegie Steel Company anc
other large companies agreeing TO Ge
this If the Others Will. The success o.
such q plan will depend upon the una.
n!mitE with which it is accepted. Ths
4 dissent of a single important interes
4 would be fatal
The contemplation of any such agree
4 ment is denied by the principal inter
ests in advance of the conference. VIVA,
Il It will develop may be another thing.