| Show I I REDUCTION IN PRICES T t I I ft and MI Y Ira 01 I 1111 Is h Contra Contradicted iii Other Ne few York April Iron Age 11 to tody today dy day says Tol Those who ho hv have been work working tn ing to lur secure lower price of Iron and Aad steel hae have bean ab ably reinforced fm from an aa unexpected quarter during the week It I unusual for tor men representing te prout producing Interests to come com ot out and ay that lt the trade ii suffer II lag fm from over production and Ut Uty that heavy y reductions In price ar are to tit be ex peeled Ordinarily such uch conditions are c aa 10 a as possible ud sod eon con a are made madl secretly so 10 at not to alarm the trad generally But we are areDO arenow DO now belm bel treated to In an frank trank of a serious In Important branches of at production 10 0 serious JOll a as to require heroic treat treal meet A round dozen wire win nail aall tao Cae tori tories and wire 1111 mills hI have VI been shut but down to 10 enable an n accumulation of at tock stock to be Worked off They wire were not all 11 hUI down clon at once as erroneous I ly re reported but during a period ot of Q a week or wore of other Important branches at o the Iron and nd steel 1 trad trades dea deny the right of wIre manufacturers to speak peak for tor them Ihm and claim that thai Iron and steel prices generally have but not been threatened with the danger ot of a cot 01 la lapse l Reductions have bave been made but bat the they have ben been brought about gradual dual I ly and nd naturally without the trade and lI no sharp harp tumble In values I ii expected unit unless this development In Intile Inthe tile the wire Ire trade should hould produce such ucb an effect freet The week In other respects baa brought broucht forth indications ot of improving business Large Lare western consumers ot of foundry pi pig Iron have hav placed heavy contracts for tor extended deliveries Imon among the bl buyers being of th the shrewdest mem members n ot of the trade The movement thus un begun was reasonably to lu spread pred to other consuming interests its In th the sst where buyers hue have been least inclined to anticipate their wants a disposition to purchase In grester quantities w was being manifest ed 4 orete Orders for export have beest II larger This business will probably bJ be checked for tor a litHe time all as Ih the nw hew condItion h here were promptly abroad but It if It In III found In thee that prices have hot flot ben been h by what h ha Imp pe fd U it I ii believed that the ell endurance of af this trying will III have quite I a effect on both borne and ad foreign trade The moat Important event of th the WHir week In finished steel tHI 11 5 tb the placing of a contract for tor approximately tons tou ot of plate plat shapes etc required for tor the construction of the tepid transit tunnel In III Nt New York Tork city 11 which was secured b hr till the Carnegie Steel company The trice price I is not disclosed but the Itte statement nl is made on good 1004 authority It 11 was close ciON to 10 rull ruling rates Tb ne reduction In the Wilt West ot of 15 per lr ton on merchant steel bars and nd bar r Iron a as a proof ot of I lag strict 1 was merely a en open acknowledgement meat or of what several man IUn have quietly been doing for some little time |
