American Steel and Wire Co
Cleveland
1900 'One of the most remarkable business consolidations in the United States is the American Steel and Wire Company, which, early last year! succeeded in absorbing every wire and wire making plant in the country. The policy of the directors of this combination has been to fix a high market value on wire rods and billets, whilst the increase in the price of the finished product was more moderate. In this way they completely cornered the wire market, and for some time the company reported profits amounting to from 200,000l. to 260,000l. per month. Owing, however, to the sentiment caused by their conduct and the threatened intervention of Congress, prices have recently been substantially lowered, but it is highly probable that they will be again be raised as soon as the present storm blows over.'[1]