Evening Republican, Volume 23, Number 284, Rensselaer, Jasper County, 29 November 1920 — CUT PRICE OF STEEL [ARTICLE]

CUT PRICE OF STEEL

Independent Companies Return to Basis of 1919. —। ~ . i It Is Said the Reduction Will Not Affeet tite Wages of th* Employee*. Pittsburgh, Pa., Nor. 49.A Retain of steel prices to the base established by the United States industrial board March 21,1919, developed here when the Jones A Laughlin. Steel company, ‘the larg'est of nie independent interests, adopted new selling rates on certain finished steel products. This reduction, the first to be made by the independents In the Pittsburgh district, will not affect the wages, it was understood, of the approximately 25,000 persons In the company’s employ. „ The new prices, which are effective Immediately, are: Bars, $2.35; structural sheets, $2.45; plates, $2.65; base Pittsburgh. Adjustments will be made on the prices for wire and cold rolled steel products. The Jones & Laughlin company has not at any time during the last year been asking the top prices many other independents have been receiving. No statement was made by the company other than to say the lower prices are due to the'law of supply and demand. Youngstown, 0., Nov. 27. —Independent steel companies of the Youngstown district, employing about 80,000 workers, announced that they will meet the reduction of prices announced by the Jones & Laughlin company, -the cut to be -effective at once. Heads of the three largest independent corporations here declared a readjustment In the cost of both coal and labor will have to follow. They said that wherever labor costs with the Independents are higher than the United States Steel corporation’s the wages will have to be reduced.