New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-05-11
Editor of Trade Paper Produces
Charts at Steel Inquiry.
COMPETITION ONCE KEEN
aid Level Has Never Been
Reached Since Actual For
nation of Corporation.

re u-,rc steel Industry was still the chief
~, oC inquiry 10y the counsel for the
o.crnuert yesterday at the hearing 0e-
-. Horny p. Brown examiner, i'm the dis
,,,ioD suit against TN" United States
Co., corporation, but this time the gov
.r,or. called man outside OF TINS IN
80, 10 get statistics from him ina.
.a;-h, supply graphic reasons for the for
me of soils and for the consolidation
49,. ,,,fimatrly was to result in a bIIHoh-
dollar trust
.,,.;, rIndley. editor OF THE Iron
"a technical publication, was called -
.,',,.in tbe charts Of prices issued PERIOD
~, bis raper. These charts, Mr..
,',,,a,ov ra'd. were accepted as authority
~ iron and steel men
- ~o,,o~a, Mr.. Firdey's testimony went
- show that prior TO 1898 there was ht'''
no,i,ion between the many companies
,rcased in production Of steel wire PROG
w. prices we're low. Gradually assoca-
80 and pools were formed and the prices
,.-., 70 advance. receiving considerahl.'
,,sh inward through the consolidation "
,.,.;ors companies into larger corporations
.n shortlv before the steel Corporation
u.s. formed IN 1901, the highest price level
,noNr to the industry was reached
,rho ,r,ces fell. Mr.. Findley said. as soon
-. ,,e steel Corporation became an accom-
n,,sros fact. hut they did not regain by 4
,,rcc margin the levels Of competitive
days.
From :hc maze Of figures produced There
s,ood out, for instance the quotations on
t.rb.d wire. which from $5i % gross ton
a., DAcer,hor. 1875. assembled to 50 ~ IN
March IS99. md reached its highest point
., e.; in MAY, 1910. In December. 1901.
.ne~ the birth u the steel Corporation,
h.rbed wire fell to 81 q gross ton. remain
i,s son above tho price level of 1895.
The urice Of wire nails jumped 2lS per
,opt IN January. 1890 and cut nails, priced
az tp40 a ton in December. lSH>. after ris-
;r, N still higher levels did not so below
ca = tnn after the steel Corporation came
into existence.
steel rails we're once quoted at SO % a
ton the charts showed. but that was n
November. lSas \ year later they had ad-
v,ncnd 70 S.. 10 fall only s., to SOS ton,
IN 1901. when the trust became perfected.
Did the average price in all Of tho steel
PRODUCTS get ds low in 1901 as i had been
IN 1893" asked Jacob NJ. Dickinson, coun-
SCI fer the government.
NO sir. IL did not" was NJ Findlcys
answer.
Thomas r. Taylor assistant general sales
agent OF tho American steel and Wire Com
rsny. VINO has been with tho company
since its formation. and before that with
the Illinois company of the same name.
testified that there was competition be
tween the wire producers in the 9Os. lie
enumerated tho competitors of the Illinois
company naming the Washburn & Moon
Company. the Worcester Wire Company.
the Cleveland Rolling Mill Company and
the Oliver ire Company. Most Of the
competitors were absorbed by the Amcri.
can Steel and Wire Company. he said.
More testimony concerning the luncheons
that were held after the various pools dis
handed in the early part OF 1900 was giver
BY Frank J. Newbury. Of the John \.
Roehlinss Sons Company. Mr.. Dickinson
asked him about tho organization Of vari-
Gus pools and received descriptions idonti-
col With those furnished by other witnesses
concerning the jackson pools.
The luncheonS Of the wire people were
attended by former members Of the asso-
cations, Mir Nevbury said, out others
applied 10 the two or three different asso-
cations in which he represented his com
psny Mr.. Newbury added
The hearing was adjourned II tho end Of
the morning session until Monday morning