New-York tribune., 1901-08-07
STEEL STOCKS HIGHER.
SHAFFER'S ORDER DISCOUNTED-MEN
MAY LOSE S5.OOO.oOO GIFT.

Information that President Shafer of the Anal
gamated Association had issued his order 10 eX-
tend the steel strike TO the mills OF the Federal
Steel Company the National Steel Company and
the National Tube Company did not create much
surprise in this city last evening. Men connected
with trades unions said the most surprising thing
about the order that II put off the extension
of the strike until August 10. allowing the steel
companies abundant time in which to strengthen
their own positions There were heard expressions
of opinion that If Mr. Shaffers order for general
strike obeyed by a sufficient number OF the
steelworkers close all the union mills OF the
Federal Steel. National Steel and National Tube
companies the United States Steel Corporation
would be compelled to offer terms to the strikers
On the other hand. il said, if the companies
able 10 keep the mills open the strike would
end in failure, and that would mean the destruc-
tion OF the Amagamated Association
The possible action OF the American Federatlon
Of Labor in supporting the steel strike by refusing
10 handle steel ma aufactured by the steel ctrpo-
ration discussed last evening with apparent
concern by men interested in building trades. II
was said that such support by the federation prob
ably would paralyze several industries IN the
United States and throw almost countless people
out OF employment. The consequences or such d
blow at American industries. it said were so
dreadful contemplate that the officers OF the
federation proba bly, would hesitate to issue an or
der in direct support Of the strike. however much
they might he inclined 10 sympathize with the
strikers.
MORGAN DENIES a RUMOR
Information of Importance regarding the steel
strike situation continued 10 be meagre in wall
Street yesterday. Steel stocks were weak in the
market. but closed a shade higher than on Mon
day indicating that the threat 10 extend the strike
within ten days had not caused much alarm among
the operators in the stocks Officials OF the United
States Steel Corporation ana OF IT'S subsidiary COM
panies maintained silence about the strike II was
declared the office OF c NJ Schwa5 that he did
not intend to make any statement in reply TO the
statement issued by the strike leaders on Saturday
There was 4 report that Mr Schwab and J. Z.
Morgan had disagreed as 10 the attitude OF the
steel corporation toward the strike leaders Neither
would talk about the report. but men closely
associated with them said the report entirely
without foundation. II said that the officials
Of the steel corporation were pleased at the re-
opening of the Hyde Park mill. but no plans for
opening other mills were dvulged. fnancier rep
resentng interest in the steel corporation said;
The plan which had been formulated for setting
arranging TO carry it for such of the workmen
could not Inn make mmeds5f 5 pa me * OF e4
ally l do not believe in such methods Workmen
do not like be coddled. A better way for com
pany treat its men IS TO raise their salaries 70
the highest point compatible with a prosperous
management of the company.
Among the steel strike rumors OF Wall Street
one that a striker had make a threatening demon
stration in front OF :. P. Morgans office. 1t was
based the fact tina: intoxicated man who
carried pair OF overalls in his hand stopped in
front OF the banking house, saw Mr Morgan's name
over the door and made some maudlin remarks
which attracted the attention of messenger boys
and caused them jeer him. A policeman took
the inebriated by the collar and led him to
Exchange Place. where he dismissed him with
kick.
MAY AFFECT BUILDING.
Contractors for new buildings this city said
yesterday that there might be serious delay in the
delivery Of structural steel for buildings II the
steel strike extended and was prolonged repre-
sentative OF a prominent firm said that the new
Tenement House law required the of more
steel in houses and it might be difficult TO all
the steel required. we may have 10 lie on our
oars for a time" he said. but the delay will be
nothing new. the supply Of structural steel for
buildings has peen snort for weeks at a time
S p Mcconnell, OF the G. A Fuller Construction
Company said he thought the resolutions adopted
by the board of delegates of the United Building
Trades need he taken only as an expression OF
svrapa the strikers. The workers here,
he said know that refusal to handle products of
the trust would throw thousands of other artisans
out of employment and seriously AFFECT labor. !
feel sure there viii he trouble Of the kind
The Degnon- Mclean Company employs A large
number OF ironworkers in three sections OF the
Rapid Transit tunnel. A representative OF the firm
said Yesterday that more non-union than union
ironworkers were employed by them. He also said
that deal of the erection OF the steel WORK could
be done by unskilled men.