Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1917-09-25
PRICE Of STEEL
IS CUT IN HALF
BY COVE ERNMENT
PRESIDENT WILSON APPROVES
SCALE on QUOTATIONS. SET
BN ARGUMENTS.
WAR BOARD To SUPERVISE
American General Public aud Allied
Nations VIII share in ReduC-
tions That Go Into lmmc-
diatc Effect.

ny Associated Prcss
WASHINGTON. Sept. 2t.-Steel
prices in the United States were cut
in half today when President Wilson
approved q scale OF quotations fixed
in voluntary agreement made by
producers with the war Industries
board The general public. the Anne
rican and allied governments will
share IN the reductions. which went
into immediate effect aud tho agree
ment provides that producers SHAH
not reduce wages.
The prices will obtain nnul Jan
uary I. 1915. TO be rc,iscd then
II investigation shows tb,. are u-
equitable.
War liOartl Ia supervise.
The entire output of American
steel plants will he distributed un-
der supervision OF the war nlar1
which exercising the powers of prior
iiy of transportation given the .ov-
eminent hy congress WI apnl 2 nn
q a. O. say Test 10 meet m, ,oun-
trys war requirements
TIE ne't Trices and the red tipl
tie. represent In present quotations
follow
steel l.is at Pittsburgh aud Chi
clrn 9" per hundred weight
TIE r'u"nt price was $3.50
Are Effective Immediately.
Other prices agreed upon an sub
ieoi 20 revision January =. 1918. but
10 become effective Immediately fol-
low
Iron ore, basis lower Lake ports.
price agreed upon s. gross ton
No change.
Coke. Connellsville, price agreed
upon 81 net ton. recent price SIC
ton. reduction OF 62.5 per cent.
steel plates. basis Chicago aud
Pittsburgh price agreed upon sac
hundred weight recent price Slf
hundredweight, reduction Of 70.5
per cent.
pig iron, price agreed upon S33
gross ton, recent prize s,> gross
ton, reduction OF AL per cent
Cut In Half
steel bars. Pittsburgh and Chicago
haqis. price agreed upon g. go per
hundredweight recent price $3.50
hundredweight. o reduction OF 4-.2
per cent
Steel shapes. basis Chicago and
Pittsburgh. price agreed upon So a
hundredweight. recent price se hun
dredweight a reduction OF so per
cent
Sioal shapes basis Chicago and
Pittsburgh. price agreed upon g. a
hundredweight. recent price g. hun.
dredweight, a reduction OF 90 ner
cent
The price agreement waa reached
after months of negotiations between
steel producers and government af-
iieials The prices were based on
cost of production estimates made
by IN" federal trade commission sf
Ter an INVESTIGATION conducted lf tho
president direction
NJ should share.
Tho chief 1oinf of 1iffa.ou.. that
developed in tho prolonged CON or
cncos N1s over fNn question 0f who.
thor rho public and mo .n'ad gov
crrwoufs h0uli share in Pho prices
90 bo fixed pfos.dp1' Wilson has
insisted they should and fho admin
i#nfiou has supported tho r0merare
Dim now pending in congress. eiyWr
fho government power f0 fiy iron and
afnol nri.ne T.upraiiv frrms 4r u'
the public 1H' fhs lilies iu tho taTur
'arr reductions bin tU domar-
u1o ir some government quarters
that me steel output be- roquisti0rel
under the national defense art hu'
The Poweraro hUl VIII to pushed ana
~ b. understood it may DO enforced
in tho event rho agreement does nor
work ouf afiefact0rily
VIII ,lloV Profits.
Officials ir close touch WITH fhf
situation u.d fonieh' rho prizes a0.
uraved fv fhe president Hsaa lbe-a'
aui would allow Fair u~nnta 90 al'
steel plauf- Some 0f fhe lerro- con.
Germs. thev said. would make hand
eome profits af rho rrir6e named
md rrodrr'irr fhng declared should
he stimulated accordingly
tr arririnr ~ fair prices f0r both
r-oduee~ and consumer fhn rrea'
.rnhler haa been 90 500 rrrrre rar
~iiilng small mile fo produce wifb
out a loss ar1 40 the same 'imr nre
-ent tho larger niarfa from '1EirG
fuo great profit A. ore time q
nlan uas considered on which fhs
bHls would have heor r7i1 ra~rirs
costs based m nrodu 'I0r c1s' ari
sanifai Investment fhn entire OUTPUT
- an mills % hc e0ld ir pool a
ono price This r7a aharHoraI a.
200 rouulica'ed and fon difficult n
administration