Show I 1 WILL BE NO REDUCTION IN PRICE OF STEEL STEE I 1 new york slay may 21 that there jr 48 to be no reduction in 14 theorice the price rice of steel was announced by E H gray chairman of the board of directors of the united states steel corporation today after a prolonged meeting of representative steel men from all sections of the country the meeting which had been scheduled tor ifor tomorrow to furth 1 er consider the scale of prices has been cancelled judge grays statement follows at a meeting today of representatives of the principal manufacturers of steel of this country the opinion was expressed by each one present that 1 the prices of steel are reasonable and 1 should not be reduced that reduced I 1 prices would not increase purchases and that most of their customers do not expect or desire any change tho the I 1 opinion loi was wag unanimous that the meetings should bo be discontinued for the 1 I 1 summer months unless the chairman should deem it advisable to meet any time for reasons which did not now appear |