The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-06-02
INTERNATIONAL STEEL TRUST,


INTERNATIONAL STEEL TRUST,
There was an intcrnationul meeting OF
representatives OF the leading steel IN
dustries of the world held in this coun-
try last October Steel makers from
England. France, Germany, Belgium
and Austria were present 10 the number
of twenty-six. Half of these were rep
resentatives of leading business steel
and iron enterprises in Great Britaln'
At that meeting Judge Elbcrt II. Gary
proposed what he called the 'lnterna-
tionnI Iron and Steel Institute. y The
idea was received with great favor by
those who attended the meeting. There
is TO be another meeting Of the repre-
sentatives OF the steel and iron INDUS
tries of the world in Brussels IN July,
at which. it is supposed, the idea sng'
gcsted by Mr.. Gary viii take definite
form.
The London lronmonger objects TO
this organization, claiming that the
British Iron and steel Institute is SUI
ficient for the purpose. 1t wants the
British Institute to be the core and
center of the organization, denouncing
the American Iron and Steel Institute
as mushroom. declaring that lit looks
suspicious. and like an astutc move on
the part Of the American steel trust,
TO protect itself from foreign competl-
tion in the home market
On the contrary. the move is precisely
what has been suggested In The Irlb'
une heretofore as likely 10 come, not
only IN the steel aud iron business, but
In all other businesses of Importance
that are subject to tariffs in some OF
the nations, and to free commerce IN
others. The interests involved IN these
enterprises have become 50 enormous
that they do not wish to be subject to
the interruptions and fluctuations
caused by local tariffs in the different
civilized nations, but wish to conduct
their business in harmony in place OF
in competition, and TO place II above
any possible interference by auy ma
ton.
Ns lutd VI tuc proposes
is. in brief. to form trust which will
control Production and regulate prices
and which will apportion to the iron
and steel makers of the different coun-
tries their allotted proportion of supply
TO the markets of the world, the terri
tory thus allotted not to be invaded by
other makers, and all to be obliged to
maintain standard prices, SO as to kill
competition.
The idea was proposed by Judge Gary
at the October meeting of last year.
II was endorsed by Sir John Randles. NJ.
P. chairman of the Workington Iron
& Steel Company, England, who said:
II has been the custom. as has been
pointed out in our industries when we
meet, 10 discuss scientific and technical
improvements. These are OF value and
OF great Importance. but II is always OF
value TO remember that there Is a com
mercial side which has to do with the
market. which must take account Of
geography. which must take account OF
financial and even political &C, G9nsidepa
tended to and thought OF. take 1t. by
those who represent You in your great
industry, and by those Of US across the
sibilty OF friendly cooperation.
A like endorsement was given by
other British iron and steel manufac-
turers, and especially by Sir Charles
Allen, a nephew of Sir Henry Besse'
mer. and Director Of Ebbw Vale Steel
Iron & Coal Company, who said;
I listened with the deepest interest
TO Judge Gary,s opening remarks. and
| | can assure him on behalf OF Great
Britain that we are only too anxious and
willing TO follow out his idea of reel
| proclty apd cooperation
Tt appears, therefore, that the In
evitable has happened, that the stce
makers of this country, alarmed at the
prospect oil taking off the duty on steel
have made the preliminary move for a
world trust among the manufacturers OF
iron and steel. 1t appears further thai
The advances so made have been re
| ceived with favor by the foreign IN
! terests. The American tariff serves
the purpose of the American steel max
ers very handsomely in this move OF
theirs, for that tariff is terror tt
! foreign steel makers and keeps theIl
products out of the United States. Al
the same time, the advanced prices
which, by reason Of that tariff, the
United States Steel Corporation is able
TO exact from American consumers
strengthen it so before the world that
it can 90 into any part Of 1t aud com
pete successfully against all rivals IL
Jobs Of emergency and difficult con
struction. The foreign steel makers are
therefore driven by our own tariff or
iron and steel to come to the terms pro-
posed by The United States Steel Cor