New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-11-08
LEHIGH VALLEY.


popry-rIvg PoUsDERTEs IN THE yALLEY-xoSr o.
THEM STILL RUNSING-UNEAsT RUMokS-MEs
WORKING DURING ALTERNATE WEEKS Or on
REDUCED wAGEs-A GENERAL REVIEW OF THs
IRON INTEREST OF THE REGIoS-oNE-TIALR or
THE FURNACES PROBABLY 10 CEASE WORK
DURING THE WINTER.
fyRom A SPECIAL CORRESPONDENT OF TIE TRIBUsE.I
ALLENTOWN, Pa, Nov. 6.-Few, even among
the workers iron 10 this Valley have definite idea
of the magnitude OF the interests along the Lehgh
The President OF OF the large companies asked
by THE TRIBUNE correspondent this morning how y
furnaces there in the Valley, aud he cond not
name more than 80 no surprised to DO told THAI
there we're 40. Tho average product o. each
furnace IL about 1900 tons Of pig iron each month"; the
actual outlay which In money from s23 to 80 per
ton An estimate OF the rapidty with wBieh wares VIZ
accumulate soon as the demand ceases ana o' mo
quantity Of pig which remains stocked up asounh
the furnaces may be readily made. Inc lurhaeemen
are differently situated from any other workers 10 on'
They cannot reduce their force, or Work on snort ne
furnace at work must be kept IN blast all 'n'
time or be stopped altogether Under ordinary ercun-
stances furnaces never stopped except TOT REPAIRS
and whenever they are stopped they require repairs
which would prevent their being put IN Dast again ioe
month or two There will then be no stoppaee In the
work OF smelling ores, except after mature deh-
Grafton and for well defined causes. As a inrnSfs
owner remarked 70 me, II is serous matter Tor us 70
stop work; we can It mold for day or Two 10 taAe
breath, as the manufacturers do"
Ihaye made careful inquiry within the last few days
into the present condition immediate prospects oe
tue different companies at work In this valley from
stanhope, few miles below Phlipsourg n. ~ 70
Hokeudangua, a few miles above this point Rumors
are very plentiful. The whole valley was disturbed
few DAYS ago with report that the Thomas lron COs
pany had failed This OF the largest and rchrss
companies and has fits headquarters in Phhadepha
Circumstantial accounts OF Jpe Iat,nte ana Of ina
seizure Of their property by the Sheriff, were cnrren
and the exact amount OF their liabilities s0Ooo0o was
mentioned
AN UNFoUNDED REPORT oP A HEAyr FAILURE
T. was admitted that the failure, If It had occurred.
would shake the business Of the whole valley. iran
the report earth days in Easton where Mr.
knight the Treasurer OF the Company, resides. He
said the story originated in delay IN the payment
OF the workrnen. owing to the diff .u!ty OF obtaining
and also 10 the fact that the September interest
on the debt Of the South Mountain Iron Company for
which the Thomas Company was responsible having
leased the South Mountain mines, had not been pail
The money had been deposited on the ist OF sepeEbe
with Jay Cooke & Co.. in Philadelphia. and those cred.
tors who failed to call for It before the date Of thes
suspension the 18th. had received their interest
They propose wait before taking further steps
the matter, as they look upon their deposit with
Cooke & Co. as u special deposit, and claim
that it should be repaid In full. The Thomas
Company IL embarrassed Tor leduy III 'utyf Uus
their perfect solvency and ABILITY 10 safely through
the present crisis are not doubted 10y any one Tney
have six furnaces at Hokendangua few miles above
here, and Lock Ridge Junction on the Etst Penn
syvania Railroad. Two OF the HOkendangaa furnaces
are out OF blast aud yesterday they began paying on
their workmen for October paying 10 per cent cash ana
the rest bills payable In six months IL Is thought
probable that all nearly all their furnaces will be
soon, but it impossible to Get accurate liz
formation TO future plans No one is willing to sly
anything which night mistrust among neir men.
The wave which started in Wail-st Is just beginning
to reach the furnace ana miners, ana they HOBO
that signs of better times may become visible in the
distance before they compelled give up. In speak
ing OF the effects OF the panic they the Old familiar
figure OF a row Of bricks, and say that they the
third fourth brick In the row. 80 long as tho manu-
facturers Of finished work kept their mills running
there was a constant demand for iron and ore. 10
is only that others are beginning 10 stop that taey
feel the cessation the demand though from the st
they felt the striDgency or money very severely
All the owners, managers. and super ntendents with
whom 7 have talked take cheerful AMI hopeful
view OF the situation. They say that prices have
been too high all through for iron and for
labor that the present unsettled condition OF the mar.
ket expected, ana that good trde cannot Do
expected until prices settle down 10 fair level Ihey
believe that business will very revive out that the
old days high and high prices will never urn
The wormen too compre end the situation very thor
with the masters They willing work at any price
or any number of days the may visa. aud are
very thankful when they thrown Absolutely oat
OF work have heard OF OF the furnacemen lesv.
ing the ueghborhood OF their Old work all seeming con-
ndent that they win again fnd employment
CONDITION OF THE VARIOUS FURNACES
Tho following Is brief survey Of tue various fur
naces
At stanhope below Phillpsburg. the Musconsng Iron
Company have two furnaces the smaller OF which hss
been blown account OF the large accumulation OF
stock About IS or 40 men have out Of
ployment at the furnace, and large number more at
the mines
At Phil psburg the Andover Iron Co have three fur
naces which has stopped nominnlly for repairs
been 10 blast about yeaIslonger than any
other in the country II is to be rebuilt ami
made higher superintendent says that it is very
difficult for them obtain 10 pay aud thas
they are not shipping much iron They think 1t beterta
accumulate stock even II they coud sell, there "
no money to be made present prices. They have
duced wages per emit and the working time from ten
to nine hours IA They employ about zoo men at
the and in the vor OF repairs they formeriS
employed 225 They expect to keep running ali White
or as long AS they raise money for expenses.
The Glendon Iron Company, at South Elston. have
Ave furnaces one OF which is ont OF b st FOR repairs
They employ 400 workmen. including masons Go and 4
have been discharged nor las there beeh any re-
a maStnn "a any sse SpeoteS ent At % or x a
he knows nothing OF tnelr pl ms I'll he orders
They manufae ire 6ooo) pig each year IN
consume 10000 coal They have very little st,,k
hand, aud IN ordinary times could Ean u all OF "a
two weeks. Both the Glendon and the AndOycr { M
panes take from the Hibernia Niue Rocklaat
which they mix with the hcnauee ores iound tAa
Following up the valley nj Chain Dam the k, .to,s
Iron Company Is building furnace. wBich WON'T law.
been completed TINS Wan ter, but work has been s"pri
for the present Al Unler there s'.l ..
iull blast. At Colerain there rur on, OF
which has been blown out. the from % h ate