Democratic Sentinel, Volume 17, Number 3, Rensselaer, Jasper County, 3 February 1893 — Steel Rall Trust. [ARTICLE]

Steel Rall Trust.

The American Manufacturer is protectionist In the strictest faith ; it is, -however, one cf the best organs of the 'iron and steel industry. From its -annual review of tbe trade for 1892, we extract tbe following:

“There was Dothing of an up and down character in tbe steel rail trade during the past year, at least so far as prices were concerned. Ever since the price of standard heavy section rails was established on a basis of S3O, Pittsburg, Feb. 1, 1891, that figure has been maintained in the face of a demand lessened by the high prices charged and with more or less friction within the Steel Rails Association over the question of the distribution of orders. There is no question but that tbe steel rail trade was much smaller than it would have been had the price been placed even arbitrarily at a lower figure, and through the rail trade alssost all other branches of trade were affected. At the beginning of the year 1892 it was predicted by parties prominent in the rail business that the requirements of that year would exceed those of 1891 by 500,000 to 750,000 tons. This was based on the expectation that the railroads of the country would make extraordinary efforts in the way of improving and increasing trackage to be able to meet the enormous traffic consequent upon the World’s Fair. While this expectation has been realized in a measure, the cause cited above has prevented its full fruition. The production of-heavy section rails in 1891 amounted to 1,089,000 tons, and for 1892 a ligtle under 1,300,000 tons, the official figures not having been announced. This shows the increase for 1892 to have been only about 210,000 tons, or far less than was expected, or at least hoped for, by the rail-makers. The association has decided to make the price of rails for the .present year on a basis of $29, Pittsburg. If this figure is adhered to, with soft steel getting nearer to S2O appareptly, and if railroads restrict purchases as much this year as last, tbe bond of union holding together the various steel rail concerns io the association will be subjected to a crucial test. It is the opinion of many that were this branch of trade placed on a footing of open competition it would be beneficial, not only to tbe steel rail business,.but the direct and moral effect on all other lines would be great.” It is expected that the next Congress will gratify the wishes of the manufacturer by putting steel rails on the free list There will then be open competion, with all of its attendant blessings to other branches of trade.