Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-01-01
DtADlUCkS I'm |RADt
They Must Be Broken Before
Prosperity Will Return.
THREAT OF A STEEL WAR
Independents Declare They Will Get
Orders by Price Cutting.
YEAR NOT SATISFACTORY ONE
Promised Well at Opening, But
Promise Was Not Fulfilled.
Big Losses in Values.
THREAT OF A STEEL WAR
YEAR NOT SATISFACTORY ONE
By WIG. Nicholas.
espondence Of The Star.

Special Correspondence OF The Star.
NEW YORK, December 81, 1910.
The last week of the year in the stock
market passes uneventfully. This is
about as every body. had expected. The
big. broad situation is deadlocked. and
within the scope of that general descrip-
ton there are a number OF minor deal
locks. each important in itself and all of
them more or less correlated. The opinion
is gaining grouid that there will have to
be a wholesale breaking up of these dead
locks before marked and permanent i'm
provement can be hoped for.
Take the iron and steel industry as an
illustration. Consumers have been hold
ing off for a year or more and during that
time production has fallen away nearly
20 per cent. Prices have been reduced in
many places. and now open threats are
heard of a blood-raw campaign for bust
ness on the part of many Independents.
who at the present time are doing little
or nothing. The attitude of these inde-
made by one Of the strongest of them to
The writer. that they would wait for busi-
ness until about the 18th of January. and
then II 1t did not come to them they would
go after it and cut prices until they found
a market for their product
Gary Calls Love Feast.
Judge Gary has called another one of
those love feast banquets OF his for jan
uary II, and every man who owns a mill
or blast furnace in the United States has
been asked to attend. These big eats I'M
der the auspices Of Judge Gary. are quite
the popular thing. 1t gives the provincial
iron manufacturer the chance of his life
to put his feet under the same mahogany
with ]. Pierpont Morgan. G.. w. Perkins
Fl. c. Prick and other eminent lights Of
finance and industry. Heretofore the con-
ferences which attend these various ban
quets have been productive of much good
feeling 1t Is the hope of the big people
OF the industry that the one scheduled
for January IL may avert the threatened
breakup. At best. it Is a forlorn hope.
Consumers do not believe it will be hui
manly possible to longer check the opera
ton of natural trade laws
Practically the same conditions exist in
the wooden and cotton trades and in cop
per in iron and steel. And then there
is the deadlock resulting from the delay
in getting action on the application of
railroads for consent to raise rates And
back Of that still is the looked for deci-
sion by the Supreme Court in the Stand
ard Oil and tobacco trust cases. The
latter, however. is in a class by itself,
and while regarded as of paramount i'm
portance for the guidance of corporate
organization. is not likely to be handed
down until something happens good and
plenty with the several pending dead
locks referred TO-
Meantime there is no present pressure
certainly no urgent disposition to buy in
quantity. Everybody appears to be sat.
istied to let matters rest about as they
are for the time being.