Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1853-09-03
From the Pittsburgh Gazette

THE BRITISH AND AMERICAN IRON TRADE
The general 6rmness in the British IRON market
since 1850, is matter Of lively interest and encour-
agement with American iron masters.
In the midst of political agitatons in Europe the
prices for common bars have advanced from (G4 5s)
four pounds five shiings sterling to eight pounds
sterling per tom and the prices for refined iron bars
sheets, hoops bands, plates, rods &c., g. have APP
preciated relatively.
Scotch pig metal which touched the low figures of
ass sterng) thirty shings sterling per ton
free on board ships in the Clyde in $780, and dull at
that for No Gartsherrie and other favorite brands
commands about (60s sterling) sixty shillings
sterling. 1t is estimated that the consumption of
Scotch pig metal has increased at least 25 per cent
within the last three years in Europe. Its uses are
almost entirely for foundry purposes Although the
immense product ofpig metal in Scotland seems suf
fcient for the world when viewed in the aggregate
for year, with all its furnaces in full blast the pal
pable fact stands before u.s. that the present stock
pig metal in Scotland is about 100000 tons) one
hundred thousand tons less than usual at this season.
while the American seaboard is quite bare of Scotch
pigs quick at $50 per ton at mos
The new uses to which pig metal is being applied
within the last three years sufficiently explains the
great deficit. Holders sell sparngly at present pr
ces feeling that they have prospects of higher rates.
while buyers are quick to secure their supply at the
market price.
In Railroad iron the advance is equally remarka-
BILE and firm; and it is to be remembered whether in
Great Britain or our own country although mills
may be started to make rails, that just in proportion
foundry purposes and the general manufacture of
merchant iron, they raise the prices fpig metal and
consequently of everything made from it-whether
merchant or railroad iron. Railroad iron mills with
out furnaces only increase the prices of iron. Unfor
tunately for us, furnaces slow of construction
and much time is required to stock them, whether
for charcoal mineral fuel Charcoal must be pre-
pared by its regular process-mnes must be open by
a still slower process. Few indeed are willing to work
yea eighteen months in spending money on
large and permanent OUTLAWS for the chance of year
or two of prosperous operation when in readiness.
So that addition of new mills only tends to advance
prices, or to cause losses to their projectors.
The Welsh iron masters with all their resources
and high prices, too well of this fact to in
crease their capacity of product in nllls-and the
past has taught them not to increase OUTLAWS for fur
naces on prospective high prices for eighteen months
two years, hence another element tending to give
firmness for year or two to the iron market
But in country those manufacturers of mer-
chant iron and the few engaged in making rairoadi
who commence with the ores and produce the
finished ron the only who ready to reap
the benefit of prices.
The manufacture of railroad iron, beyond question,
has wonderfully modified the prices of iron. 1t
quires immense, almost incredible quantity ofpig
metal 1t requires great outlay for work and mines
and great operative capital for manufacture.
In fact, in America almost all railroad iron works
have swamped their propretors and passed into sec
ond hands in sacrifice-and under most favorable
circumstances the erection of railroad iron works is
serious enterprise. The history of numerous estab
lishmcnts in Wales-the Victoria Works. the British
iron Works, the Ebber Vale Works. and many ofless
magnitude might be shown, all of which sunk their
capital and passed into new hands, while in own
country the Great Western works. the Mount Savage
Works, theDanville Works. the Boston Works, the
Massachusetts, Works, the Boonton, the Avalon, the
Pembroke Works, and others erected for manufac-
ture of rails, have been swept into bankruptcy but
being brought by present owners at title of their
cost, in many instances profitable at present.
We believe the manufacture of merchant iron and its
contingents, much more permanent and safer trade
than that of ras-unless by parties who contrac
tors to make railroads, and place their rails on
favorable terms.
We trust our iron city will stand where it is, on
safe ground, the good old bar and merchant iron
trade which has made it what it is Let others en-
bark their capital in enterprises less and per-
manent, If they WILL Ours has been, and trust
will be, the safe and prosperous course, and
have guarantee of its continuance in the daily
increasing and permanent demand for merchant iron,
steam engines and machinery in the daily increasing
and already immense population behind u.s.
Since 1850, the projection of railways has extened
into almost every country of Europe. Late in that
year when rails were selling in Wales at the enor
loss the piece of 15s) four pounds fifteen
shilngs sterling, the Emperor of Russia ordered 140
000 hundred and forty thousand tons of rails in
one purchase. France Austria, Russia, Central Ger
many, and even Spain and Italy began to lay rails.
Norway has just completed her first railroad. Den
mark has projected and is making line nearly 5000
five hundred miles through Finland. India, Egypt
and Brazil have come in for their quota.
The railway work in the United States is known.
The demand for railroad iron growing out of these
enterprises and the scarcity of labor consequent
emigration of operatives to the gold fields of Cal
iornia and Australia have together with abundance
of money, produced the greatest frmness and acttv
y in this trade The probable solution of the Russo
Turkish question peaceful basis, has added still
greater frmneSS to prices. PUBLlCUS.