The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1872-07-24
stiIl Another Rise in Iron.

From the Cleveland Le1der)
The recentimportant advance In Eng
lish iron begins to be felt in this country,
and last week was marked by q general
rise in all classes Of iron throughout the
markets Of this country. The new sd.
vance, coming just at q time when a gen.
eral decline was predicted, must have be-
hind 1t some stubborn and palpable cause.
Looking to the English market, we find
bar iron, which month ago was selling
at G42 12s, now advanced TO Els 12s, and
even at these rates the English iron mas.
tiers refusing to take orders except as SUBJ
ject to current rates. AS general state
ment 1t may be affirmed that the average
price OF all classes of English iron is at
least double what 1t was nine months ago
and as result the same is true, or very
nearly so, in the United States. In Eng
land this extraordinary advance is due to
three main causes. 1st, the advanced
cost of coal; I'd, the concessions which
have been made to labor and the higher
rates now being paid for work ofall kinds
and. Sd, the enormous increase in the con.
sumption Of iron, which, Notwithstanding
the greatly increased cost, uses up the
product OF the mills and furnaces as fast
as It can be turned out and absolutely pre-.
cludes the accumulation OF any stock
whatever. The rise in the American
market is simply result Of the advance
in England, which has no iron to send
here, therefore, our iron makers have to
meet the full demand of the country,
which they are unable to do, and conse.
quently up iron has gone, and up 1t must
stay for months to come. Writing on this
subject four months ago, we expressed
the belief that the advance in iron would
have direct tendency 10 limit It's use.
1t was thought that railway building, the
construction OF iron buildings, bridges
and ships would cease until rates had sub.
sided. None of these results have been
realized. Railway building goes on ap.
parently more vigorous than ever before.
The uses of iron are being enlarged and
multiplied every day. It's doubled cost
as compared with Il year ago, seems to
deter no one. We are not aware that a
single railway project has been aban.
doned, or even suspended, because rails
and spikes cost nearly twice as much in
1872 rs they did in 1871. The enormous
increase in railway business, and the
great value OF new roads in developing
unsettled country, make them so valuable
that the cost oL iron is q comparatively
small matter. II must be con-
fessed, moreover that the end OF these
high prices is difficult 10 foresee. II any.
thing can be argued from present indica.
tions, it is that iron is yet to 90 still
higher and remain there for many months
at least. There Is absolutely no stock OF
either rails, bars or sheet iron on hand
anywhere, and the world wants 1t faster
than itcan be made. Coal and labor
have both become more costly In Eng.
land-the days OF cheap British iron to
keep down prices in the United States are
over. Not until our home manufactures
can be SO enlarged and doubled in mum.
Der rs TO keep pace with the demand,
shall we see cheap iron again. Bow
long it will be before the increased pro-
duCtion Of This country will overtake and
conquer the rapidly growing consump,
ton OF iron is problem. Not until the
Cuyahoga Valley is aglow with furnace
fires from Central Way to Independence
not until the United States have become
masters OF the iron market which they
have hitherto been passive and insig,
ni6cant factor, shall we again see iron
bought and sold at the prices Of 1901