The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1917-04-07
MANY MILLIONS
SAVED BY ACT Of
STEELNAKERS

WASHINGTON, April GA saving
Of eighteen million dollars i'll the
navyS bill for steel during 1917 and
of more than two millions in Il single
order for tGrprlues, WIS represented
in price agreements effected with the
manufacturers today by Secretary
Daniels.
The schedule of prices for The years
supply of steel, agreed on at CON
ference between the Secretary and j.
4. Farrell. president Of IN" United
States Steel Corporation. is the same
the navy paid for its 1916 consignment
and considerably below the current
market. "Details as 10 III" amount or
exact prices were not made public.
In tho cas-" Of he torpedo order Mr..
Daniels brought The manufacturing
concern. the f. ". Hiss Company uf
Brooklyn. 10 terms by inrnkln" sew
rral days ago for the first lime the
New law authorizing Ihn government
10 set Il reasonable price for navy ma
t"rial and compel private plants to
abide by them.
Mr.. Farrell acted in the steel price
negotiations rs vic" chairman OF the
special committee Of ihr American
Iron and Steel lnS1itut" recently ap:
pointed by the Council mf National
Defense 10 raCiiitat" III" securing OF
construction material. After The con
ference Secretary bagIclS issued TINS
statements
AN agrcrmrn; was reached with
respect 10 prices for material for The
shipbulding program Of The navy ana
additions 10 the naval stations. This
agreement provides lhat there IS TO
b" no increase in prices OYER those
paid for material used III III" 1876
naval prulranl. These prices are sub
SlanliaIly lower than current market
prices and il is estimated ;hat they
involve saving Of approximately
eighteen million dollars on thr tonnage
required for 1917 over the prevailing
prices
Through voluntary agreements prey
iously effected wiln copper, brass
munitions, shiphuilding and other con
crvTs. the department already has
saved many times iii" amount repre-
scented in tudayS atrri ana turprH"
agreements. Except In raSrn ot nee
cSsity Secretary Daniels will rot IN
woke the new law PERMITTING seizure
'uf plants not Offering 10 Iurn out sup
lies at Il reaSOuabl" price.
Although officials PERMITTED 1t 10
become known several days ago that
ihr eorrynmrnl had cXrrted rs ne"
authority TO prevent rNnrbiAnI war
profits. il was not announced Until
today against what company IN" ac-
ton was taken.
The department first "+k"d. 1t WAS
said. that the Bliss company r"duc"
its torpedo bids and when il WAS
found thai Il reduction OF S""n per
torpedo was The h"st lhat could u"
secured! by negotiation. Mr.. Daniels
ordered! the 0rdnanC" hur"au 10 '!r-
terminn the cost OF production and a"d
a reasonable profit. IlIrs fixing Il TAI!
price. The bureau fixed Il price y
SI.57S per torpedo under tho original
bid submitted and the secretary IN
formed the Bliss company that II
would b. required IN fill the order
promptly al the new figures. Today
REPRESENTATIVES Of The company III,
formed the secretary that they won!h
gladly accept the order on the Nc"
basis and sp"cl; rp manufacture.
The result of invoking lhls new
nruyisinn of the naval bill, Mr. Dan
irls said has saved III" dhNar'meht
so1GG,GaG on one order. W" cNnnc,
rll munitiOn makers 10 lNrn!Sh the
government what il needs a! prices
which investigator shows 10 h" r"H:.
unahIr 80 that it will not b" ncc"SHa''
10 TAX" over any plants.