New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-07-20
DENY WORLD STEEL PACT
Farrell and SChWab Back Home
from Brussels Conference.
SCHWAB BUYS IRON ORE
Places s25,OoO,Ooo Order in
Sweden-Sells Italy Plate
for Six Warships.

James 4. Farrell. president OF the United
States Steel Corporation. and Charles NJ.
Schwab president OF the Bethlehem Steel
Corporation, were among the passengers
who arrived here yesterday on me White
Star steamer Olympic. Both Mr.. Farrell
and Mr.. Schwab were delegates to the IN
ternational Metallurgfcal Congress. held at
Brussels July TO Z. and they denied en-
phatically that the purpose OF the confer
ence was TO enter into an agreement To
control steel prices throughout tile world
as has been reported here.
THE conference was regarded by all
those present as evidence OF a desire to es-
tabllsh friendly relations and III" discus
sion Of technical, economical. ethical and
sociological questions, as applied to the
industry" said Mr.. Farrell. and there was
no mention or inkling Of anything like an
agreement TO control prices in forcgn mar
kets"
Mr.. Schwab said that the object OF the
conference at Brussels could not be more
clearly set forth i'm the English language
than was done by cX-Judge Gary in re-
cent interview i'm London. THE confer
ence" he added, was merely for friendly
intercourse and TO enable steel manufactur-
ers throughout the world to improve their
relations with one another and to come To
mutual understanding In regard to trade
conditions
Mr.. Schwab announced that he had pur-
chased about 81, 000000 worth Of iron ore IN
sweden TO be shipped here during the com
ing year. He had also, he said obtained 4
large order for armor plate from the Ital-
ian government at price higher than that
paid by the United states government lot
similar material While he would not give
the tonnage called for in this order, ne sal"
that il was sufficient for the construction
of six new battleships being built by the
Italian government The order IS Tor I'M
mediate delivery. and is divided oquahy
between the Bethlehem and Carnegie steel
companies. which will begin work on IT AT
once Referring to the ore he had pur-
chased Mr.. Schwab said that IT was OF
very fine quality and specially adapted to
the fine grade of steel produced by the
Bethlehem company. but because Of the
large tonnage contracted for he had peeh
able 10 purchase IL at low price.
Mr. Farrell said that business conditions
as affecting the iron and steel industry III
Europe were I'm an exceedingly prosperous
state and that the demand for steel prod
ucts I'm Great Britain and in the CONT
mental steel producing countries was larger
than at any other time I'm the history OIL
the industry
"Concurrently with this situation as al
f. citing the home markets OF Europe ho
added there exists a large demand from
the non-manufacturing countries OF the
world. and as consequence, the exports
OF iron and steel by all the European couh-
tries Is on a gradually ascending scale
and the iron and steel manufacturers OF
tho limited States are increasing their eN-
norts I'm a corresponding ratio. The course
of the steel business in this country prom,
i.es to be one Of steady Improvement ana
look forward TO gradual increase III
production. -,
THE importance or the TACT thaS tte
world at largo is undergoing one or the
most prosperous cycles in us history sHotlu
not be overlooked as ultimately aHecllns
the United States which. with us ehoi
NOUS resources, should soon be partlcl-
pating In the prosperity Observable In othe'
countries
Reyerting to the international steel con-
ference Mr. Schwab said that general
committee Of five representatives, from eacn
country was appointed to consider In what
manner practical effect could be given 10
the formation OF an lnternatollal ron an an
steel association. The committee. he added
was empowered to consider the Whole
question and 10 report the result OF It's
la hors 10 a subsequent meeting 10 De '"H-
Vened by the committee at some future
date.
The conference he declared, was attend
cd by about one hundred and twenty or
the leading iron and steel manuiacturerIS Oh
Great Britain, France. Germany Belgium,
Austria. Hungary. Russia. Spain, Italy.
Canada and the United States The dele
cation from this country consisted OF eX-
Judge r. r. Gary, James ~ Farrell,
Charles NJ Schwab Willis L. King, T.. {.
FELTON,, r. A. s. Clarke. Powell Stack
house. j. \. Campbell William y. Rogers
4, r.