Show aff manufacturers of pig iron iron and steel to maintain present schedule new york jan 31 that no feces alty exists for a reduction in the prices ot iron and steel and that none will tabe made was the general understand ing arrived at by the representative manufacturers of pig iron iron and steel at a meeting held in this city yesterday no agreement for maintenance of prices was made or suggested but the belief was expressed by all prices would result in benefit to the manufacturers to their customers and to the employed emp loyes and to business interests generally this understanding is the substance of what took place at the conference of 75 manufacturers and purchasers of steel as given out tonight by judge B H gray chairman of the united states steel corporation the statement says at the close of the deliberations which occupied the greater part of the day every manufacturer present gave the opinion that no necessity or reason exists for reduction of prices at the present time and that this alow should be stated at the large gathering which was expected for the evening upon the invitation of the general advisory committee heretofore appointed there were present at the dinner served at the astorca about 76 genalo men representing the principal manufacturers rs of iron and steel in this country and including several leading purchasers of these commodities brief addresses were made by everyone present including T P morgan and without exception the opinion was voiced that prevailing prices are fully justified and should not be changed no agreements for maintenance of prices were made 1 or suggested it was the expressed bellef of all that such maintenance bould result in benefit to the manufacturers to their customers to the employed emp loyes and to business interests generally that stability of prices it and when reasonable Is desirable that violent fluctuations resulting in abnormally high prices when the demand exceeds the supply and unreasonably low prices when the reverse Is true are to be deplored it was also remarked that the present disposition to assist one another by the friendly interchange of views rather than a resort to unreasonable and destructive destruct ivo competition which would ultimately result in the application of the law of the survival of the fittest is in accordance wah the present state of public sentiment ahe meeting afforded a striking illustration of tho fact that there can bo active sharp competition in business without necessitating si an unfriendly and bitter war rare that in the end must be most injurious to the manufacturers the purchasing public and to the hundreds of thousands of employed emp loyes who are dependent upon the of their employers for work at fair wages As to the future opinions were without exception conservatively optimistic already there Is a marked though slight improvement it Is not expected that the volume of business will be large in the immediate future and the manufacturers are prepared to meet the circumstances that the wealth and wonderful resources and recuperative powers of the country will before long bring a restoration of business that will employ all the furnaces and mills to their full capacity is the expectation pec tation of the leaders in the iron and steel industry Pine salve carbonized acts like a poultice draws out inflammation and poison antiseptic healing for chapped hands aps cuts burns sold by geo F cave drug store cor st and washington ave |