A Big Fine

Te Aroha News, Volume XXVII, Issue 4379, 27 February 1909, Page 3

A Big Fine

THE STEEL TRADE DEMORALISED

BIG REDUCTION IN PRICE. New York, February 25. The Supreme Court’s decision in upholding a fine of £21,600 imposed upon the New York Central Railway Company, for granting rebates to American Refining Company, has caused serious reaction in American railway stock on the New York Stock Exchange. The steel trade is demoralised owing to the Steel Trust’s action in reducing the Srice of steel shapes and plates hy six ollars per ton, and steel to four dollars per ton.