New-York tribune., 1910-09-22
STEEL INTERESTS CONFER
..conditions VIII Grow Better,
Instead of Worse" Gary Says.
ADVANCE IN STEEL COMMON
Market Quickly Influenced by
Reassuring Statements Of
Previous Day.

A. the request OF ex-Judge z. H Gary
.,-.s-,oar Of the United States Steel Cor
s,-,-sor. representatives Of the leading
- manufacturing companies Of the
,-.r-.-v held a conference at the Railroad
,-,,,,, ,-es;erIay to discuss the general con-
sirtons in the trade
che close OF the meeting Judge Gary
- .hat after talking with the leading
-, men who were present he found con-
- better than he expected and bet
- nan Indicated IN the statement he
ave out on Tuesday
r A. 40. believe" he added. that there
-, - anv serious cutting OF prices. The
--s,,,ons viii grow better instead OF
worse.
while no definite programme was ar
= or understanding reached AZ the
---ss-encr. Judge Gary said il was his
,..,r,or not only that prices would not be
-as,csd. but that IN some cases they would
:, ,5vnnced. For instance. he said. steel
80 which have been selling at LS5
80 Pirtsburg. would be advanced to Lac.
.-,one those present at the conference,
,.,,,h lasted about an hour. besides Judge
f,--v were ". z. Corey, president OF the
T~-sf+as states Steel Corporation; John A
-ro-,;ng- chairman Of the board OF direc-
.o-s Of the Republic Iron and Steel Com
-,ors- and leading representatives OF tne
-cnes & Lsughdn steel Company, the
zs-blebern Steel Corporation. the Lacka-
vrsnns Steel Company, the Cambria steel
,,.-,ns,v rha I,ukens Iron and Steel Com
- cd other steel manufacturing con-
SeTns-
The Iron Age IL its weekly review oE
she deveiopr1ents IN the steel trade. issued
vasferdav, agrees with Judge Gary that
+he steel business. on the whole. should
ha considered satisfactory, and that there
* no reason 10 expect any change II TINS
respect. L says:
q-.s-a Is Iirtle basis for the widespread
---a5fcrjons il the last few days OF q wide
e.seu cut IL steel prices, implying I4lal l4-e
market Is 10 be taken fOrclbly II haIlo anu
made active. IN spite OF the neWspSlper are,
sus speculative ciamOr for something
snecracuiar finished materials nave not
5eua-reG from the course that EaS oeeh
followed for weeks Our Illarhet TepoIas 49,
bgve noted from tine 10 time that prices
maintained by the largest MANUFACTURE ;
heve been shaded by others, chle1y tEe
smaller producers. but this feature mas nor e
beer accentuaCed this week. i needs 70
L. recalled again that the present scale
N operations 81 mills and furnaces Is
close 10 that Of the record years 1917 aIC
are going directly into channels OF con
sur1rri5n Such decentralization as has
bear heralded as impending would be re-
ruz-kable I00er such conditions.
--Thr authorized statement that the steel
fserDorarIon exports Of steel products have
,eeT7 for some time . eco tons month
-.--e than those Of last year confirms " hat
Las been known in a general way as 70 Ile
e-1srsiCr Of trade in outside markets A
considerable sale Of rails has been made JC
ii TshiI,an railroad. Domestic ran business
s-rf-.See r-ro orders from TIRE 81. Pau road
for this year one for $500 tons. placed az
CHICAGO and one for a less tonnage, placed
al Buffalo. Il pig iron the aggregate oI
snail orders for shipment this year mas
b4en more in some markets than for weeks.
The Steel stocks, in common with other
leading issues advanced sharply yesterday
and while other factors entered into the
situation Judge GaTy's reassuring state
rnen+ n regard 70 the steel trade was
looked Oh IN brokerage circles as having
been instrumental n bringing about the
Improvement in the market. particularly
N The steel shares. steel common which
was the most active stock OF the list, the
total ssles making Up more than one
fourth OF the day's transactions on the
Stock Exchange touched ssh. as compared
with f6S. the final price OF Tuesday, and
closed a. 6s5s q net gain for the cay Of
"a. points. The preferred gained z point.
closing az z51k. as against II5@z on the
preceding Gay.