New-York tribune., 1908-06-04
NO FINISHED STEEL CUT.
Friendly Relations Among Manu-
facturers Not IN Danger.

The cut in steel bars and small structural shapes
will not be followed by general cut in finished
steel products. according to the statements Of
steel men yesterday. They attached little impor-
tance to the reductions and said that no meetings
to discuss prices of other commodities had been
called and that there necessity for such
conferences at this time.
They were emphatic in stating that the organiza-
ton for promoting stability and harmony of oper-
ations in the steel trade stronger than at any
time since creation, and that there had been no
break in the friendly relations among the steel
manufacturers, who would continue. they said, to
act with unanirnity in regard to prices.
1t was pointed out that the statement had oeen
n,ede from time to time that IF it was believed
any reductions IN prices promised to benefit the
industry such reductions would be made with the
unanimous consent of ALL. and that the cut IN
steel bars and small shapes was therefore accord
ing to programme
There was report yesterday that the Steel Cor
poration was to provide steel rails for relayins
practically the entire OF the Siberian Rail
way. The value of such a contract would De ABOUT
SIS 900 and would call for approximately one
million tons of so or IS pound rails
II speaking of the cuts in the prices OF pars
and small shapes THE Iron Age" says:
The full significance of the concerted reduction in
be measured 1t will probably lead TO read1ust-
chant steel Many in the trade regard it as the
forerunner of lower prices along the Wnoe ~ ne & OIL
viction nv the fact that only few weeks ago the
selling forces large interests freely advised their
to recall the intination after the last genera
steel meeting The fact that the large steel in
terests are still in conference in this city is worthy
of mention in this connection. -. .
In some respects the conditions surrounding the
steel bar trade are not typical Of the others ne
they have in billets, shapes or plates Ihe rerol-
ing mills have been very active recently and nave
been making low prices The bar IRON MAKERS
have been cutting, and the seaboard went down
to 35 cents delivered which is far below the fllts
froY7 tbe EST
bar iron makers there have responded to the DE-
cline in steel bars by reducing their price S ton
THE Iron Trade Review" says:
The news that the price of steel bars had been
reduced 81 per ton, coming so quickly after posi-
would not be changed was great surprise 70 tltS
trade. Hardly less surprise was expressed ILiat
were not made at the same time Inc CuI 0I %
bar iron followed naturally in the Central West
and it seems certain that other prices must De
readusted-
Little if any, business has developed in steel
bars and bar iron since the reductons were 41 fd
nounced. and the market is in a very unseItteg Ei
condition. 1t is generally recognized tnat nuylns
cannot be expected TO begin IN earnest until .n G0n
become convinced that no further Teouc-
Before the break in steel bars was announced
pig iron prices had sagged close to the cost ba NM
but during the past week the tendency has peeI
upward. Many sellers have advanced from oo
cents TO 81 per ton and prices have nor YET sloW1 n
finished lines. Buying this week mas noi Deeh III ~
frs r+i65e haVa been numerous and inquiries
have came in very freely. ,
Contracts taken by the principal @ structQrs1 a. l ne
year being about 20o0 tons The city OF sytafuSe f
has closed contract for 2oo9 tons @ o, faSe Pa and
Foundry Company. at about Sz3 So delivered A Iot
Of 5000 tons for private interest at Syracuse was
the market for about 4OOO tons Of cast iron pipe
and New York City is soon to buy 5000 tons