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Show STEEL BH BE IT MICE SOU Republic Company's President Makes Significant Statement Regarding Conditions. NEW YORK, May 2-1. A cut in the price of steel bars is imminent, according accord-ing to roporls current today in tlie financial finan-cial district. It is understood a meeting meet-ing will he held at which the conferees will Include the United Slates Steel cor-porallon cor-porallon and a- number' of so-called "tn-depumlciUs." "tn-depumlciUs." among them tlie Republic Iron & Steel company. Cambria Steel company. Jones & Laughlln company and the Pennsylvania Steel company. The prevailing price for stel bars Is $1.40 rer 100 pounds at t'itlsburg ami a cut of 5 or 10 cents per 100 pounds. is demanded de-manded by the jobbers. I3.pe"tatlon of a cut In prices was supported sup-ported later In the day by a sialomcni Issued by John A. Topping, chairman of Hie board of directors of the Republic Iron & Steel company. Mr. Topping stlld llntt on account of low prices .of Iron and steel bars made by some "of the sninller mniuifnctisrcrs bis company had been unable lo secure what It icgarded as a tair proportion of current tonnage and had been unable to maintain nn economical operation, and that the board had therefore dcti-rmlued on a more ng-grcsslve ng-grcsslve sales, policy. Chairman Gary of the United States Steel corporation issuud a statement this afternoon, saying: M have seen th statement published iS Continued on Pago Throo. 4? STEEL OUIS MAY OE CUT WCE S00 President of Republic Company Makes Statement Regarding Regard-ing Conditions. Continued From Page Ono. by John A. Topping, chairman of the Republic Re-public Iron & Steel board, and have consulted con-sulted with a number of prominent and representative men connected with the stoel Industry. Just what the outcome will bo I cannot say at present. I believe, be-lieve, however, that friendly and cooperative co-operative relations which have heretofore hereto-fore existed will be continued by the steel Interests generally." Chairman Gary will leave for Chicago this afternoon, |