10 SEPTEMBER 1927, Page 32

THE STEEL *REBATES.

- During the past week financial circles have taken con- siderable interest in the combination among British steel companies, offering certain rebates to those undertaking to limit their purchases to British steel, and the rebates appear to be sufficiently substantial to constitute quite a material inducement. Moreover, the mere fact that the -difficult times have caused our great steel concerns to draw more closely together in some common action has, in itself, been regarded as a favourable development, indicating the possibility of other forms of co-operation which conceivably might bring about economies in production.