New-York tribune., 1919-04-03
Director of Railroads Re-
fuses 10 Pay Steel Rates
Of sS45 aud Sf7 Per Ton
Set by Industrial Body
Whole Plan in Jeopardy
Stabilizcrs Unable TO Keep
Public in Line Under Cir
cumstanccs, 1t Is Believed
.Ner iorh "ribonr
ITnsEirUtOp Eured4t

Tdsbirgton Bureau
WASHINGTON. April 2.~The gov
ernmcnt has refused to accept it's
own "stabilized' prices. This was
formally admitted in statement is
sued this evening, after the chief OK
ccutive officers of the government in
terestcd in the question had strcnu-
ously conferred for hoars with each
other and the Industrial Board, which
price stabilizing agency.
Concrctcly, the railway administra-
ton refuses to accept the boards steel
prices. AS these alc the only prices
the board has succeeded in establish
ing hitherto, the question is asked:
What remains of the potency of the
board, if it ever had any," To the
steel men, who consented to be the
bellwether for tho industrial sheep
flock, the whole business looks like a
farce staged as a price cutting tragedy.
Glass Issues Statement
After four hours of lively and at
times acrd discussion Secretary Of
the Treasury Glass issued the follow
ing statements:
"The steel prices approved by The
Industrial Board of the department Of
Commerce not having been accepted by
tne railroad administration, the views
of both were expressed at the con-
Ind t,;
Board were expressed by Secretary
Hedlleld and Mr.. Peck and other mem
bers Of the Industrial Board The
views Of the railroad administration
were presented by Mr. Hines. The mat
ter was rccommittcd TO the board for
further consideration
Those inclined to a pcssimistic view
interpreted this statement as sounding
the death knel of the board. Later it
was learned from board sources that
the statement issued by the Secretary
was not quite complete, and that the
words with the railway administra-
tion" should be added to the last SEN
tencc.
lOIu 10 Scttlc IheIr Row
Without these words the statement
meant that the meeting has left the
board all alone with its price fxing
and the railroad administration all
alone with its price "busting." With
them it meant that the two were polite
ly directed to settle their row between
themselves. the other departments and
administrative agencies rcserving front
! seats on the fence.
The object of the meeting was to
compose the differences betwccr the
beard and the Railway Administration.
The meagre official statement Of re-
suits admits that the object was not
attained. One member Of the confer
ence said the whole discussion centred
around the prices fixed for railway
steel, and that the coal question was
touched on only in a general way.
The railway steel prices fixed by
the steel men in conference with the
Industrial Board two weeks ago we're
S45 for Bessemer steel and SAT for open
"Ns'' vi otSSi 1aiIS. dS against former
prices Of $50 and s57 respectively.
The railway administration has
taken the position that the new prices
are altogether too high, and that
| about So or $40 lower would be about
right.
1t was also disclosed at the meat
ing that Mr.. Hines feels that, although
the railway administration has a mem
bcr on the Industrial Board, the prices
agreed upon were without his sanction.
It is now up to the board to meet with
Air. lines and his assistants and en-
deavor to persuade them that the
steel prices fixed by the board arc
such as the railway administration can
consistently approve, and the board
thinks that with the Federal Trade
CommisSion's reports on the costs of
steclmaking, it will be in a nosi-
ton to convince Mr.. Hines. The latter
conceded at to-day's meeting that he
was willing to be shown
NEW ORLEANS. April 2.-southern
pine lumber manufacturers, Mt a meet
ing to day, declined the proposal of
the Industrial Board Of the Depart
ncnt OF Commerce to enter into a
price agreement as means of stab
lllzlng market conditions.
Such notion, it was declared. would
be contrary to the best interests of
the public and Of the industry" and
would violate antitrust statutes.