Omaha daily bee., 1919-03-22
LOWER PRICES
FOR STEEL and
IRON ARE FIXED
New Schedules Announced in
Pursuance Of Agreement
Reached to Stabilize
Market for Year.

Washington, March 2l.-Complet.
schedules of new prices for stee
and iron products agreed upon by
representatives of the steel indus
try and the industrial board of the
Department of Commerce were an
nounced today after members of the
board had conferred with Attorney
General Palmer. The announce.
ment was taken as an indication
that efforts to reduce and stabilize
prices through agreement with pro.
ducers would not be opposed by the
Department of Justice.
Steel men, who in joint confer
ence with the board framed the new
schedule, before leaving Washington
yesterday, said it was understood
that the question of price agree
ments was to be laid before the
attorney general. Chairman Peek OF
the board, however, after the visit
to Mr.. Palmer's office said the board
had merely paid a social call on the
new attorney general"
New Scale Effective at Once.
The new prices, which generally
represent reduction from 10 to ID
per cent, become effective at once
for 1919 and represent the first ef-
forts of the industrial board at price
sterilization and reduction to peace
term basis. In approving schedules
submitted by the steel men, the
board, according to statement,
adopted policy to be followed in
agreements with producers of other
basic commodities. This policy, it
was said, is to strike balance that
while calling sooner or later for
some sacrifice or adjustments on the
part of all, yet will not subject any
of these interests to undue hard
ship"
Judge E. H. Gary Of the United
State Steel corporation, and chair
man of the committee representing
the American Iron and Steel insti-
tute, which conferred with the board,
said the new rates were agreed upon
with view to bringing about re-
vival and sterilization of business
through prices favorable to the con-
suming public and yet yielding a
reasonable return to investors in the
industry. He expressed the belief
that the new prices would not dis
turb wage rates or wage agreements.
New Prices and Reductions.
The new prices and the reductions
are:
Pig iron, basic, $2575; reduction, s425;
billets, four-inch. $3.50; reduction. IS; bill
let's, two-inch. $42; reduction. IS: sheet
bars, SAP; reduction. IS; slabs. $41; re-
duction, IS.
skelp-Sheared, s265 per 100 pounds
reduction, 81 per net ton; skelp, universal
$255 per 100 pounds; reduction, 81 per
net ton; skelp. grooved, $2.45 per hun
bred pounds: reduction, SIS per net ton;
merchant bar-base. $2.35 per 100 pounds
reduction. 81 per net ton; speared plates,
$265 per 100 pounds; reduction, SIS per
net ton.
Structural basis, $2.45 per 100 pounds
gross; reduction, IS per gross ton; plain
wire. SO per 100 pounds reduction IS net
ton: nails, 1926 per 100 pounds; reduc-
ton, IS per net ton: black sheets, No. %.
$435 per 100 pounds; reduction, 81 per net
ton: blue ananeaIs; No. 10, $685. per 100
pounds; reduction, 81 per net ton; gal
vanfzed sheets, No. 2s. $50 per 100
pounds; reduction, 81 per net ton.
Tin plate. No. 100 boz, 81 per 100
pounds; reduction. 81 net ton; tubular
products, 3h points off card: reduction, 81
net ton: hoops, base $3.50 per 100 pounds;
reduction, IS net ton; light rails, $2.45 per
100 pounds; reduction, IS net ton; rails.
standard Bessemer, $45 gross ton: reduc-
ton, $40 gross ton; rails, standard, open
hearth SAT gross ton; reduction, $40 gross
ton, and ore, no change.