New-York tribune., 1909-04-01
MORE STEEL WAGES CUT
Iorgest of Independents announces
CIT in Effect To-dag.

-Ae Jones & T.aughlin steel Company. the
=. IF the Independent concerns announced
.-5av a reduction IN the wages of its en-
80 70 take effect to-day While the amount
ne rt was not stated. II is believed that it will
s-ssA 70 per cent. the same that announced
osD,Ty by the Lackawanna. Republic Iron and
e,s1 and 2 number of the smaller independent
.-o,anjes W p Snyder & Co. also of Pitts
s,rr announced a 10 per cent reduction. The
ce7cisl statement Of the Jones LaugFlin Steel
r-ornnany announcing the cut follows:
~ account Of the depression in business due to
.esr If a reduction in the tariff IL has become
tsessry tee 10 down expenses I'm every direction
u meet present prices reduction in wages is IN
1oi5shle The readjustmert viii he effective on
April
The number Of men affected by the cut will he
-, Two thousand. When in fun operation the
-,nsnv employs five thousand men,
TIC Iackawanna Iron and Steel Company posted
.i,.e a. its plants in Lebanon. Penn. yesterday
,ro7-cing a resdjustment of wage scale. to take
60 to-day The reductions correspond TO those
.-.de at tae companys other plants. About five
t5red men are affected. The Semet Solvzy
l-,,snv also announced = reduction of 10 per
- About one hundred men affected. The
,-o-,xau Ore Banks at Miners Village. Penn.
or,s5 notices Of q 10 per cent reduction.
7na only large Independent company that has
o+ announced a reduction in wages IS the Bethle-
80, steel Corporation. and, according TO state
.-.e made by President Schweb since his return
- F,urope recently. no reduction IN the wages
- rbe company's employees is contemplated at
.-essnt. Reports from Pittsburg yesterday stated
a., the United States Steel Corporation would
-,o,,n-e 2 big reduction in wages to-day. but
his was denied az the offices Of the corporation
=, ,,is ctv. Ex-Judge E. H. Gary, chairman Of
-. nos-5 Of directors said when asked as 10 the
.vtb Of the report: We have rot considered the
orsstion Of wage reductions.
II * generally believed in the trade. however.
,,s, if present conditions in the steel business
continue for any length Of time the United States
s,ael CORPORATION VIII be forced TO follew the ex
sro1e Of the independents and reduce wages. In
o-.e o1arters it Is thought that a cut VIII be
made hy Nav l the latest The United States
s.se Corporation has about one hundred and
sirrv-hve thousand employees, and their total
rssry salaries and wages amount to about Ao-
sa0fa = reduction Of 10 per cent would mean
ssving to the corporation Of. approximately. S2,-
eN6e a year. equal TO about per cent dividends
m the outstanding common stock.
spesk.ng OF conditions in the iron and steel
-rase The Iron Age in its issue to-day says:
One Of the features is the uncertainty TO prices
N some branches Of the finished trade, brought
%1o-1 irresponsibe sources They make buyers sus-
nicious and encourage them to expect figures
Particularly the desire TO contract for long deliv-
cry, far into next year which Is objected TO py ne
beck business at present prices for delivery during
t1g fbevond that period Reports have been cur
ren+ ef low prices on steel bars. but the lowest
which has been done. under conditions particularly
s+fractve 10 the seller, has been l10c. PittsbUrg-
The wire trade is beginning 10 feel the approach
tne close OF the spring trade, so far as the mills
are concerned Shipments from storehouse and
mil continue heavy. but production is beginning 70
decline. The leading interest. which was operat-
ing few weeks since at the rate of IS per cent
al - -acitv is now down to % per cent. and fur
fher gradual restriction is expected we approach
re month Of Nav. On the other hand, the tin
rIste mills have been pressed into service until
ebou1 per cent of the capacity is working. The
works are taking care OF the season requirements
Of the Gamers, and Will probably try also 70 &C