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Show WILL MAINTAIN PRICSTEL Leading Producers Reach Agreement That Rates Shall Not Be Cut. FUTURE GIVES PROMISE OF MORE FAVORABLE TURN , Present. Bookings Equal to Capacity of Mills Ten Years Ago. NEW YORK. Nov. 30. The price of stcei will not be cut. Forty of the leading producers and their representatives represen-tatives wbo staud for approximately 50 per cent of the production of the country, coun-try, met bete today and decided Lhat it was for the eood of the industry to keep quotations where they are. Amonir these were: Judge LO. It. Gary and W. E. Corey, chairman and president, respectively, of the United ."States Steel corporation; John A. Top-rung, Top-rung, chairman of the lie-public Iron & Stool company; Willis h. King, vice president of tiie Jones & Laughiiu Steel company; Charles M. Schwab, president of the Bethlehem .Steel corporation; K. A. .S. Clark, president of the Lackawanna, Lacka-wanna, Steel contpau.y; Alexis W. Thompson, prcsideut of the Inland Steel company, and Wallace II. Howe, president of the Pittsburg Steel company, com-pany, all of fliem members of the American Iron and Steel institute, of which Judge Gary is president. Siuce the last mooting of the institute insti-tute two months ago, when a similar agreement was reached, there has been an understanding in the trade that Home manufacturers were not living up to this " gentleman 's agreement. " When last the small maker3cul prices, the United States Steel corporation followed fol-lowed their Jead and went after the market aggressively, with a consequent general unettlemcnt of the "barometer "barome-ter of business." Theroforc there jras feeling yesterday yester-day and this morning that some hiicIi action might eventuate from this afternoon's after-noon's conference and its outcome wan awaited with interest. At the close of the meeting Judge Gary gave out the following statement. Judge Crary'n Statement. " lU'prc.ientaties of about Do per cent in tonnage capacity, of the manufacturers of steel in America met at luncheon, and the two hours following fol-lowing were occupied in ascertaining the condition of business in this particular par-ticular line, and in the expression of opinion concerning present prices. It wax Mated that on( the average all branches the bookings were about ."0 per cent of capacity and the shipments somewhat in excess. There haas been a slight, though marked, increase in-crease in daily bookings, month hy month, since the 1st of August to the present time. "Prices, as a rule, are well maintained, main-tained, though in some lines, as usual, there is some cutting on the part, of small producers, who were not represented. repre-sented. Without exception the views expressed by those present regarding the future were favorable. Also each one voiced the opinion tiiat present prices are fair and reasonable, and should not be changed. "For some time purchasing by railroad rail-road companies has been very much below normal, but it is the consensus of opinion that there will he an increase in-crease in tho near future. The amount of daily bookings is about equal to the total capacity of the mills tcu years ago. "The disposition of the manufacturers' manufac-turers' of steel to co-operate, so far as it .is proper, remains unchauL'ed." |