The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-07-11
STEEL RAILS ADVANCED.
The Price Increased From S2G to s=s
Per Ton.


NEW YORK. July I-SteeI rail manu-
facturers forming what IS known to the
( trade as the steel rail poUf. have formally
agreed upon SIS a ton as the price which
VIII be asked for the coming year. This
price Is 3 ton higher than that agreed
upon at the meeting last fan.
Since May ]. however, new schedule
went into effect and prices were advanced
from SIS ton to IS a ton
The news that prices have been agreed
upon will come as a, decided surprise to
the steel and iron trade In the past few
years the action Of the steel rail people
I. IN arranging prices was awaited with in
/. terest by the entire trade as on it Drac-
ticaIiy depended whether prices Of all
other forms of steel and iron goods were
to be advanced, maintained, or lowered.
As rule the pool met later in the sea-
son. usually in September or October, ana
the prices for the ensuing year We're the
announced.
This year, however. the conditions in
the srade have changed and as a result
the task is much simpler than 1t was be-
fore the formation Of the United States
Steel Corporation. when there were sew
eTaI competitive concerns in the business
1t is understood that negotiations have
quiet manner by former Judge Gary.
Chairman Of the United States Steel Cor
poration. and President Schwab, of the
same company, with Pennsylvania Rail
ROAD officials, and the result is that the
pool price Of 50 a ton Is announced
This year there are only Two important
factors in the steel rail Situatiou--the
United States Steel Corporation and the
Pennsylvania Railroad interests. which
now control the Pennsylvania Steel Com
pany. the Maryland Steel Company, and
the Cambria Steel Company. The other
important steel rail producer-the Lacka-
wanna Iron and Steel COmpany-it is IN
derstoOd, Will in a month or two begin
dismantTing its plant at Scranton for re-
mOvaI to Buffalo, and It VIII not be in q
position next year to turn out its usual
tonnage OF rails. The Colorado Fuel and
Iron Company. which IS not factor east
OF the Missouri River, viii work in har-
mOuy win the steel rail pool.
Much Importance is attached 10 the fact
that the rail price viii be maintained. It
is asidered the best evidence Of the
fact trat the Steel Trust believes the
present prosperous conditions IN the steel
ana iron business will continue for at
least year. IN some quarters, however,
especially among the manufa cturers Of
the finished forms Of steel and iron goods,
the policy of the steel rail pool was Sc
vcreIy criticised It IS said that a redUc-
ton in prices Of some o. the finished
forms in the near future was practically
certain, for the reason that Iet-up in
the demand vas now being felt.
Prices Of steel biIIets. which have been
marketed abroad in the last month, VIII
Be maintained. Authorities state how
ever that It Is q question If the prices Of
both articles can be maintained for a fun
y2dr- The orders booked. both IL the bIf-
let and rail departments. g far are said
% be Suff1cIent to keep the mills busy for
the rest OF the year. but the volume Of
new business, which should be f3rthc0rn-
ing at present, shows . decided hesitaucy