Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-11-12
WILL SAVE S|5.OOQ,OO)
Steel Corporation Orders Re-
auctions In Pay Roll That
Will Amountto Millions
OTHER ECONOMIES PLANNED
OTHER ECONOMIES PLANNED
Consolidation of Tin Plate Companies,
Reduction in Freight Rates and
Methods Taken to Make Good on
tho Earnings of the compsny-Rea-
son for Retrenchment.

| New York, Nov. 12.-1r the work o
retrenchment which the officials of tn,
United States Steel corporation hav,
ordered and planned it is proposed t.
reduce the annual pay roll of the giant
corporation about s15,00o.o00 or slight
ly more than 10 per cent of the wages
paid last year.
At a representative meeting of all the
important steel and iron manufacturers
of the United States, which convened
yesterday in this city, price schedules
We're ratified and approved. No further
cuts will be made and it was agreed
to maintain prices
1t also was decided by officials of the
United States Steel corporation to
merge the American Tinplate company
and the American Sheet Steel company
into one organization. 1t is expected
that the consolidation will become eff
fective about Jan. l.
At the same time it is stated that
Pittsburg will become more than ever
the steel and iron center of the United
States. .as the steel trust purposes to
remove to that city practically all the
operating departments of its several
subsidiary companies. The tinplate and
sheet steel offices will be moved to that
city.
In its recent negotiations the steel
trust has sold upwards of 10000 tons
of various steel and iron materials in
Europe. To move this vast quantity
of freight reduction of freight rates
has been asked Of the railroads. The
vessels of the International Mercantile
Marine company will transport the
goods to the other side Of the At
lantic.
The proposed reduction in wages will
be general. but it is the intention OF
the management to hit hardest at those
earning the largest amounts. 1t is adj
mitted that a reduction extending in
some instances to So per cent will be
made. hut the average reduction vii,
be about 10 per cent
Last year the great steel corporation.
paid out s12o,52s,343. in wages. This
was paid to l6S,127 employees.
Preliminary estimates indicate that al
least s15.000.000 can be cut off this
enormous amount.
the "aristocracy of labor" who have
been drawing abnormaiy high wages
n the boom times compared with the
wages generally paid. viii be the EN-.
oloyes whom the cut will affect thr
most.
Reasons for Reduction.
The repeated cuts in steel prices. IN.
owering of pig iron and bessemer stee.
md the readiustment which has gon,.
The circle round. the steel officials
state. will serve as basis and incen
i've for the reduction in wages.
Not only will the workmen who draw,
weekly salaries find their pay cut down
,ut so will the office men and the |
reads of departments. The work now
soing on. which will be announced |
shortly. has been termed drastic re-
renchment."
The object in consolidating the sheet |
teel and tinplate companies under ons |
et of officer is for economy and is IN /
inc with the other retrenchmert WORK |
hat is going on turnout the great /
rust. 1t is Mr. Tricks idea that the
ctual operating work of the sever;l |
ompanies can he best directed from
and with that purpose n
lew great many offices heretofore
n this city will be moved to Pittsbur,;.
he financial end OF the big trus.,
will be located in this city.