OCR Text |
Show STEEl PRICES ! HELD EXCESSIVE Steel Corporation Accused By Government Officer of Profiteer Sales WASHINGTON, Feb. M. Declaring steel and iron prices "are pxcts-le and unjustifiable," Comptroller of Currency Cur-rency Williams, has urged the Untied States Steel Corporation, In a letter to Its chairman. Elbert 11. Gary, to reduce re-duce commodities selling lists. Comptroller Williams explained last night In making public his letter that It was Jn reply to a statement mado by Chairman Gary in connection with the comptroller's annual report. Mr. w iiii mis, in his report, declared that jtho United States Steel corporation, In 19 IS, could have doubled Wages or reduced re-duced prices of steel $25 a ton and still paid dividends. Mr. Gary had not ro-I ro-I piled to his letter on February 15, the comptroller, said, adding that therefor, there-for, he was making It public. I JI1 lis COME ix V. Disclaiming ho Intended to injure the steel corporation, Mr Williams asked Chairman Gary "to consider whither the public hostility your corporation cor-poration would Incur by Insisting on a policy of extortion while other Interests Inter-ests are being exhorted to a policy of reduction, and by refusing to come to the help of tho country and tho world at their time of need, will not become I heavy and Increasing llabllltv." Nn imi mion ro CUT. NT WYOKK. Fob 20. The urgont request of Comptroller of tho Currency W illiams that the Ulnted States Steel Corporatibn reduce its prices, made public yesterday in tho form of a letter let-ter to Elbert H. Gary, chairman, was not even mentioned during the mooting "i the American Stee! and Iron Institute Insti-tute here Vest er,ln V If n-na ., r-rr! t n day. PI w WORLD MEETING. Mr. Gary sold at tho etose of the meeting, however, that price reductions reduc-tions had been mentioned only casually and announced his corporation had no present Intention either of cutting j prices or Lowering wages. Mr Gary said he had not had time to read Me. Williams' letter. Discussion at yesterday's mooting was confined almost wholly to a proposal pro-posal to attend an international meet-"Ing meet-"Ing of Iron and steel manufacturers lln Europe some time during the summer. sum-mer. Mr. Gary said. |