Harrisburg telegraph. [volume] (Harrisburg, Pa.) 1879-1948, 1919-03-20
EXPECT STEEL
MEN TO AGREE
ON PRICE DROP
U. S. Board Members and In
dustry Leaders Are to
Meet Today

Washington, March 20.-- Agree
ment on a new schedule of steel
prices, which is to be the first step in
the governments plan to revise COM
| modify prices downward as a stimu-
lus to buying and industrial recon
struction, had not been reached last
night after an all-day conference
lean iron and steel institute and
IN embers of the industrial board of
the Department of Commerce. The
steel men and the board will meet
again to-day, however, and indica-
tions are that a satisfac ctory basis
for price readjustment will be ar
rived at shortly.
We found the steel men entirely
willing to cooperate in making eff
| fective any program which Will
| hasten the return to normal Condi-
tions," said George n. Peck, chair
man of the board. "It is as yet i'm
possible to tell just how long it will
take to formulate the new price
schedule .,
Members of the steel committee,
| headed by Judge l.. IL. Gary, chair
man of the United States Steel Cor
poration, conferred among them
selves late to-day but no announce
ment beyond the statement that they
would meet the government repre-
sentatiVes again tomorrow was
forthcoming. Charles M. Schwab.
chairman of the Bethlehem Steel
| Company, who is a member of the
| committee, was unable to be in
! Washington because of illness.
The steel men. it is understood,
/ a~s II ArN.t 30
| ernment proposals if they can be
shown that conditions will be bene-
| fitted. AS the first industry called
| into conference with the new gov
| ernment price board, the steel men
have taken the position that the
exact relations between the indus
try, the board and other government
departments should be clearly de-
fined before any permanent sort oil
arrangement is made.
| The board has proposed that a
steel price schedule be formulated
which the board, as a representative
of the government, will approve as
fair price" at which the govern
ment will buy. Government buying
| it is believed, then will imm ediately
stimulate outside buying and hasten
the return of normal conditions. The
| steel men want to be convinced that
government departments, notably the
railroad administration, will buy at
the prices determined upon as fair,
and that the industry will not fall
afoul of any legal obstacles to price
agreements, such as the Sherman
antitrust act.
| Although it was announced that
satisfactory progress had been made.
| it was made clear at the same time
that the price question had not been
| threshed out. The steel men, it is
understood, did not present a new
schedule to the board, but it was
intimated this subject was given pre-
| liminary consideration at the steel
mems meeting late yesterday.
Think Reductions Necessary
Since the signing of the armistice
| reductions ranging from SO to Sc a
ton on steel products have been
made effective by the industry itself,
but further reductions are considered
necessary to induce freer buying.
However, some of the smaller, high
cost producers, who were able to
drive a big business when the war
prices and the war demand was on,
are said to be opposed to any sharp
reductions.