New-York tribune., 1918-12-10
Representatives of Industry
Will Ask War Board to
Make Moderate Reduc-
ton in Fixed Maxima

man. New price schedules are now be-
ing prepared by the committee, said
Judge Gary. who presided at the meet
ing.
There should be no cut in wages
unless it becomes absolutely necessary,
Judge Gary urged, Notwithstanding
the reductions in prices that are be-
Iieved imminent. In plea for the
continuation of the fat pay envelope ne
said
Judging from the past, all of us
believe we should not commence to
make reductions at the point of wage
rates; sacrifices must previously be
made by employers. Our employees
must continue to be treated literally
with respect to their compensation
and general welfare. We will continue
to show to them that it is our inten-
tion to consider their merits and to
treat them as associates and Vaiuaole
assistants in our work"
Stressing the need of getting back
to a peace basis as speedily as posi-
tive thought and action are exercised
in spirit of fairness there should be
no danger in this country of a serious
business depression.
Encouraging Outlook
1--WE are so rich and prosperous and
our resources are SO large" he added,
that the indulgence of feelings of fear
or doubt as to our financial, CONNER
cial or industrial safety and progress
would be wholly unjustitied. Our pros
poets are bright, our opportunities for
success are greater than ever before.
Anf Io fiya n
country will be the most progressive,
prosperous and successful of our his
tory; the results will astonlsh even
the most optimistic of to-day.
IF price reductions are made now
and manufacturers accept them willing
ly, even though sacrifices have to be
made we may be consoled by the fact
that we are approaching better times,
lower costs, more natural and sub
stantial basis, and that we are prob
ably doing the right thing. Those who
buy our products will corresp spondingly
reduce their prices and thus do their
Fart in the direction mentioned, and
SO on down the line it may extend to
others.
"Our prices have been high during
the past year, and in the cases of a
few companies the profits have been
tion up to full capacity so as to meet
the military necessities of this coun-
try and it's associates in the war it
has been necessary to fix prices larger
than normal because of increasing
costs of production, by reason of wage
increases and higher prices for every
thing the producer has been obliged
to buy or pay for. However, the war
is ended and producing and selling
conditions are changing. Furnaces
and mills will be returned to ante
war uses and methods. The law Of
supply and demand will again control.
There will soon be no restrictions in
prices nor anything to prevent their
settling down to lower basis, depend
ing upon circumstances. Costs of
production probably in the course of
time will be decreased, though not to
former levels. 1t is to be hoped no
seller of our products will feel in
clined to make prices too high simply
because he may be able to secure
them, nor to make them too low simply
because there is need of ready cash"
Judge Gary in his remarks to the
steel men paid a tribute to the War
Industries Board for the spirit of fair
ness in which it handled the many per-
picking problems that had cone under
Its consideration and then launched
INTO an extended review of the part
the steel industry has played in win
nlng the war. He said:
Steel Trades Part in War
"As you know, the different denart-
ments of the government at first, and
later the War Industries Board, with
anxious inslstance, have asked for
more and more steel OF different kinds
and qualities to supply the war ne
cessltles Of the United States and as
sociate countries. for use here or else
where, and with little if any delay
all demands haze Been met Unlike
many other lines of production or SER
vice, the iron and steel industry has
been left entirely in the control and
only to our voluntary agreement,
which referred mainly to the full op-
Grafton of plants for the production of
war material and to priorities of de-
lverles as far as necessary. There
fore the sponsibilities for results
have been left to Us and we have ac
cepted and satisfactorily disposed of
them, as demonstrated by our accom-
pllshments. We have increased capac-
ity, at the cost of million upon mill
IONS. and we have diverted our facili-
wherever it appeared essential to keen
supplies up to the demands made upon
US.
II do not refer to these things in
spirit of boasting. There is no ground
for that. The little we could do was
contributed to a great cause in which
all of us were vitality concerned. I
utter these words to emphasize the
further statement to all those present
and to their associates in business.
that the iron and steel industry has
clearly conceived and faithfully per
formed the Obligations resting upon it
in consequence of the war
In the opinion of Judge Gary history
Will discredit the claim by any nation
or individual for winning the war.
Even Russia betrayed and demoralized
as the result of intrigue and corrup-
ton, he predicted, would some time be
accredited with faithful and valuable
service. Regarding the new problems
that confront the world he added:
First of all in significance are the
questions to be considered by the
peace commissioners who will repre-
sent at Versailles the different nations
OF the world. Selhshness is certain to
appear because it is human Unfair
ness and unreason will be INDUCED.
Aggressveness, obstinacy, even cupid
ity, are to be feared. There is some
danger in the situation. A wise and
hnal determination will depend on the
ability, discretion, patience, persist
crce. courage and absolute honesty of
purpose OF those who participate"