New-York tribune., 1918-06-20
Steel Men Discus
The Outlook for
New Fixed Prices
Freight Increase Will Ada
81 to Pig Iron
Cost

The effect of the % per cent incre.s.
IN freight rates on steel costs was
stressed yesterday at meeting 81
eighty-three leading steel men at TIA
Waldorf Astoria Hotel. The trade eor.
ditions of various interests in the s.ec,
industry we're discussed for thrce
hours to give the general committee O.
the Iron and Steel Institute data ia,
its conference tomorrow with the
pricefxing committee OF the War In.
dustries Board.
ras SUGGESTED that certain IN.
creases be asked for the three-montb
pe. -vI beginning July /, but nc de.
c.sion was reached yesterday, az the
matter was left in the hands of the
general committee.
In announcing what took place at ths
meeting Judge E. Fl. Gary, Chairman
of the general committee, said: "a.
the War Industries Board has asked
the general committee of the American
Iron and Steel Institute to appear in
Washington on Friday Of this week 70
consider prices of iron and steel prod
ucts, commencing July 1, representa-
tives of the different lines Of industry
met to-day to discuss the situation.
After the views of rumber of gen
tlemen were expressed it was unani-
mously voted to place the whole sub
Ject in the hands of the general com
mittee with power" The same action
was taken by the steel men three
months ago.
Besides Judge Gary, the following
men are on the general committee:
James A. Farrell. president of tbs
+rl S$~f1
$. Clark, president of the Lackawanna
chairman of the Republic Steel Com
pany; James A. Campbell, president Of
the Youngstown Sheet and Tube Com
pany; A. c. Dinkey, president of the
Midvale Steel and Ordnance Company;
Willis l.. King, of the Jones &, Laughlin
Steel Company; l.. Z. Bloch, president
of the Inland Steel Company; A. f.
! Huston, president of the Lukens Iron
Company; James A Burden, president
of the Burden Iron Company, and E. G.
Grace, president of the Bethlehem
Steel Corporation.
A conference of the members of the
Bolt, Nut and Rivet Institute was also
held at the Waldorf yesterday morning.
A committee was named to go to Wash
/, ington to ask change in the terms Of
the Pittsburgh basis. The next meet
ing of this organization will be held
at Thousand Islands on July 19 in
stead of at Pittsburgh on July II, as
scheduled.
In discussing the outlook for steel
prices "The Iron Age" will say to-day:
mo sign is given as to the govern
ment's position in Fridays meeting ex-
cept the dubious intinlation that the
War Industries Board has no sugges-
tion in advance of hearing from the
steel trade.
costs in the next quarter will be
higher, the freight advances adding
81 to $3.50 to pig iron cost. Already
Lake iron ore producers and various
blast furnace companies have made up
their case for higher prices. and moro
sharply than ever the diverging inter
ests OF large and small producers stand
out.
Tennessee pig iron makers have ap-
pointed committee to argue at Wash
ington that higher pig iron price is
imperative. Various Alabama iron
companies have organized &c protest
against the new freight advances as
inordinate.
"Cabled orders from American head
quarters in France in the past week
call for staggering amount of steel.
including hundreds of locomotives and
many thousands of cars. Besides, the
railroad administration is planning 10
buy 400 locomotives Of special design
and to increase the order for 100, 900
freight cars already placed by at less.
40 per cent.