The sun., 1919-03-07
STEEL MEN TO AID
I. IN REDFIELD PLAN
Representatives Of Nearly All
Big Producers in u. s.
Hold Conference.
ADDRESSED BY e. H. GARY
Head of Steel Corporation Says
Trade Has No Reason to
Make Complaint.

Representatives. Of virtually all big
steel producers OF the country. number
Ing upward of 1875, met yesterday at the
Waldorf-Astoria following a call issued
by the American Iron and Steel 1nsti-
tute directors The meeting was called
FOR considering the plan OF Secretary of
Commerce Redheld for stabilzing prices
in this country. and at its close the
steel men decided TO cooperate to the
fullest extent with the industrial board
appointed by Secretary Redheld In fur
therance Of his plan. The following
statement was given out after the meet
ing:
AT the meeting OF representatives Of
the iron and steel industry to-day at the
Waldorf-Astoria after full discussion
II was unanimously voted to accept the
invitation Of the Industrial board Of the
Department of Commerce, organized by
approval of the Ppresident to cooperate
in tho endeavor to stabil 70 business
conditions. and the whole subject matter
was referred. with power. to a commit
tee. The members of the committee fol-
low: Ebert H. Gary. James A. Farrell.
Charles NJ. Schwab, John A. Topping,
Alvah c. Dinkey, L. Z. Block. James A.
Burden. E. @. Grace, C. H. Mccullough.
Jr.. H. c. Dalton. A f. Huston. James
A. Campbell and Willis L. King. AZ
ter the resolution to cooperate was
adopted George N. Peek. chairman OF the
industr' al board, addressed the meeting E"
No details as to what the newly ap-
pointed committee will do were an
hounced, but It is understood that they
will confer with members OF the Indus
trial Board appointed by the Secretary
Of Commerce with the view of working
out details of the stabilizing plan.
In an address to the meeting Judge
z. H. Gary said in part:
'On this occasion we have met to dis
cuss and consider the question Of COOP
GRAFTON as presented to US by the Indus
trial Board of the Department of Com
merce. This board has been appointed
by the Secretary Of Commerce for the
purpose of comforting with the different
lines OF industry in the effort to stabil-
lie business conditions generally
throughout the country.
Depression Being ExaRgerated.
The Secretary of Commerce, after
consideration and investigation. reached
the conclusion that during the transit
ton period from a war basis to q peace
basis there might be disturbance in BUSH
ness. with possible reactions. II not de-
pTeSSlOnS, decreases IN OF
to employment. and delays in extending
enterprise. and after comforting with
other members of the Cabinet and the
President OF the United States. ap-
pointed the Industrial Board.
'1t Is my opinion, and / believe the
opinion Of most Of the large number of
men who are assembled here to-day, that
since the armistiee was signed the iron
and steel trade, generally speaking, has
A.
be in some of the publications: that 1t
has been better than we feared IL would
be that all things cot sidered we have
no reason to complain and that the num-
her of unemployed has been much less
than one would suppose from some of the
statements which have been freely circu-
lated. We know that on account of the
ordinary turnover In labor and other rea-
sons which result In idleness, temporary
or otherwise, there are always large
numbers Of unemployed. and it fire.
Quently happens that when people are
expecting. in consequence OF unusual
conditions. an increase in unemploy-
rnent. exaggerauons are made. / have
believed II business men and otheW in
terested in business conditions and re-
suits would retain their composure and
coui age we would gradually. II moder-
ately. return TO n condition normal and
satisfactory. The Secretary of Com
Tnerce believed that 1t was desirable to
anticipate possible future adverse con-
oitions. and took the action mentioned.
aad, OF course, this having been pub
lished. the natural result has been or
will be to temporarily affect business
progress until there can be a successful
cooperative movement which is calcu-
lated to inspire confidence and activity.
I'VE are called upon again by a Gov
eminent Official to cooperate with tho
Government in the endeavor to stabilize
business conditions. to protect. 80 far as
practicable and reasonable. capital and
labor, for they must always go hand
in hand II success for either is achieved,
and 10 bring about results which no
reasonable man will deny are desirable.
Unselhshness Must Guide.
THE methods were not suggested by
US. They originated with disinterested.
high minded and capable public official.
whose obligation and whose desire are
10 best serve his country. We must on
this occasion rise to a high plane OF
unseldsh observation and there deter
mine our course.
Those who have been personally con-
suited. including all the members OF the
board of directors OF the institute who
mend TO this meeting that we promptly
accept the invitation OF the Government
TO cooperate. so far as proper and con-
slstent in the cause which has been pre-
scented and has been assigned TO the In
dustrial Board. II you should to-day
submit your interests to a comparatively
small committee that committee would
come into conference with the Industrial
Board and make an effort TO agree upon
prices intended to be just toward all who
might be interested In the results, in
GLIDING seller. purchaser and general
public
"a League OF Nations will soon be
agreed upon. for the sentiment In its
favor Is we'll nigh universal among the
civilized peoples OF all countries The
criticisms which are found in the
speeches recently made in the Congress
OF the United States. with possibly slight
exceptions. were not intended to be un-
dsrstood as opposing a practicable and
workable agreement between leading
countries which will result in prevent
ing future prolonged international con
fiicts. The objections made relate 10
Some conditions and terms contained II
the covenant which has been reported for
consideration by the General Council. AND
in most cases TO proposed forms OF pro-
cedure-"
rrI6pTF nTnNu Tap NIyTI COM