The Oskaloosa herald., 1917-09-27
PRICE OF STEEL
CUT BY WILSON
Reductions Range From Fifty to
Seventy Per Cent.
NO REDUCTION IN WAGES
Announcement Follows Agreement
Reached Between War Industries
Board and Producers--Lono
Controversy Ended.

Washington, Sept. 25.-An agree
ment between the war industries
board and steel producers reducing
the price of steel from 80 to 20 per
cent was announced following its APP
proval by President Wilson. The new
figures become effective at once and
are subject to revision January /, 1913.
The price for steel plates of 1926
per hundred weight, or $65 a ton, is
70.5 per cent less than recent quota
lions.
The steel men held out for about
$6S ton, but were forced into line
for the lower figure by Bernard Ba-
.ruch of the war Industries board and
others who represented the govern
ment in conferences during the last
few days.
Under the agreement the steel men
pledged themselves to the following
stipulations:
That there shall be no reduction in
the present rate of wages.
That the agreed prices shall apply
to purchases by the general public as
well as to those of the allies and the
government.
That the steel men will exert every
effort to keep up the production to the
maximum of the past so long as the
war lasts.
The prices are based on results of
an investigation conducted by the fed
eral trade commission into cost pro-
duction. This inquiry has been in
progress for several months.
Schedule Of Prices.
The detailed schedule of prices fol-
lows:
Iron ore, basis, lower lake ports,
price agreed upon, $500 gross tons re-
cent prices, $5.05 gross ton. Coke ba-
sis Connellsville, price agreed upon SO
net tor, recent price, SIG; reduction,
$40; per cent reduction, 62.5.
Pig iron, price agreed upon S33; re-
cent price. $5s, gross ton; reduction,
S25; reduction per cent, 43.1.
Steel bars, basis, Pittsburgh and Chi
cago, prices agreed upon, $500 hun
dredweight; recent price, $3.50 hun
dredweight; reduction, $3.50; reduc-
ton per cent, 47.3.
Shapes, basis, Pittsburgh and Chi
cago, prices agreed upon, So hundred
weight; recent price, Sc hundred
weight; reduction, So; reduction per
cent, 5000.
Plates, basis, Pittsburgh and Chi
cago, prices agreed upon 1925 hun
lightweight; recent price, 81 hundred
weight reduction, $7.75; reduction per
cent, 705.
This announcement Of prices, agreed
UPON after many months of investiga-
ton by the federal trade commission
and conferences between government
officials and the leading men of the
iron and steel business, was accOmpa-
MED by the following statement:
at was stipulated, first, that there
should be no reduction in the present
rate of wages; second, that the prices
above named should be made to the
public and to the allies as well as to
the government, and third, that the
steel men pledge themselves to exert
every effort necessary to keep up the
production to the maximum of the
past, so long as the war lasts.
Measures will be taken by the war
| industries board for placing orders
| and supervising the output of the steel
mills in such manner as to- facilitate
and expedite the requirements of the
government and its allies for war pur-
poses and to supply the needs of tile
public according to their public impor-
lance and In the best interest of all, as
! far as practicable.
"a spirit of cooperation was mani
tested by the steel men and no doubt
is entertained that every effort would
bring the production as nearly as pos
sible up to extraordinary, demands
| from the war"