New-York tribune., 1873-01-21
tuns of iron ore

twill be seen by these figures that Pennsylvania
still retains the lead her wonderful resources. early
development and industrial spirit have given her.
but she is finding worthy rivals in other States
which have recently awakened to a knowledge OF
the vast undeveloped resources they possess. The
evidence indeed. is conclusive that the country will
make still greater strides within the next few years
than it has done hitherto. Michigan, which Is cred
tied above with 69O S93 tuns of ore shipped last
500 393 tuns, and mined nearly 100000 1t Is est-
mated that the quantity of ore raised in Missouri
has increased to 100000 tuns and that own State
added 80 per cent to the 40 tuns reported for 1870
Impelled by the spirit of enterprise which our peO-
pie always display under favorable conditions. the
furnace capacity of the country was largely in
creased last year. According to list i'll the Report
of the American Pig Iron Manufacturers' Associa-
tion there were last August recently completed or
building, SO blast furnaces distributed follows:
Pennsylvania "a Indiana, 2; Illinois, 81 Missouri.
.; Tennessee, 4; Ohio, 10; Michigan and Lake Su-
perOr Region, 5. Since that time steps have been
taken to build probably 80 other furnaces that all
the enterprises afoat may be regarded as lead
ing to an addition to the annual productive capacity
of the country of 500 600 tuns of pig rOn resulting
in an investment of tfrom about S35OOO,Ooo 10
S40,OOO,O0O.
The general condition of the American iron in
dnstry appears to warrant the enterprise thus dis
PLAYED unless uuwise legislation mar its pros
pects The annual production of the world is about
1900 900 tuns and the present consumption is more
than equal to this supply. Continental Europe ex-
ports some iron from Belgium and Swedenl, but I'M
ports still more so that practically she is limited to
meeting he needs of her own markets. Great
Britain (producing 6,627.l79 tunsD remains only
formidable competitor, but she is embarrassed by
the deaness of coal the disturbed state of her labor
market, and the fluctuations in demand and price
consequent upon dependence on foreign markets.
Her own consumption has also greatly increased.
and prices advanced at one time last year
sideraby as drive orders TO Belgium and France.
The prospect, therefore, seems good of emancipat-
ing ourselves long from dependence on foreign
sources for the product most essential to advance
ment in civilization and material wealth.
Many iron smelters, particularly those in Western
Pennsylvania are now suffering from scarcity of
Ores the demand having proved greater than tho
mines were able to meet There is, however, good
reason to expect that the nexhaustbe iron deposits
of the country will be so far developed as to
furnish our iron furnaces with all the they can
consume
There were 5000 tuns more of foreign made pig
iron imported in New-York last year than in 1871.
Much of this iron of the quality used in making
Bessemer steel. The advantages of having the home
industry comparatively well developed were made
very evident by the import trade, as Scotch iron was
sold here, some months, less than it would cost
abroad at the same time. Had the domestic pro-
duction been less than IL was prices would have
been considerably higher at home and abroad. i'll
consequence of the degree of scarcity our demand
would have produced.
The year opens with the price ranging for No.
Foundery at from S4S to $50. and contracts have
been made at these figures. 1t is probable that no
great reduction will take place during the year. In
England. no great fluctuations which might
seriously affect our markets need be apprehended TO
Judge from telegram received recently by Messrs.
Bigeow & Johnston of this city. 1t reads as fol-
lows:
LONDON, Dee. 3l.-The whole iron market has
healthy strong undertone and the general opinion ia
that bottom has been touched and though great ad-
vance is looked for like last years, yet prices
pected to be higher shortly than they Tno
market for American railroad enterprises is stll stag
nant and 1t is impossible TO persuade people TO take
hold OF anything now however good apparently. Bar IS
9lO lis. Cd, free on board, in,London.
The general tenor OF this dispatch isc2nfrmed by
one received the 3dnst., by the sliie firm, which
said that the strike causing advance in prices.
that railroad rn had advanced from Gl0 to Cl per
tun. and that the tendency Vas upward. The striss
reterred To lsone ON the part OF Hoh-stohe "ino' ~
collers tothe number Of 1900 and arises from tne
notice which the employers had given that tney ,n-
tended to reduce the rates Of wages the st oil tns
month.
The experience of the past year suggests that IL
is desirable to exercise delberation ana sioa'
dscernlnent when Q tablShing new IRON furnaces.
The quantity and quality Of the ores obtainaoie'
the facilities for procuring limestone and especaiy
coal as we'll as the market afforded by the surround
ing country should all be taken into conslderaton'
and the most favorable conditions secured pisre-
gard If any of these matters invariably entaii'
serious d,appontments and leads to the IRON
smelter being distanoed by his more experiences
and sagacicrs competitor. II Is also 10 Oe ueS'ea
that workmen. far as possible. be snoruo"
opportunities of investing in new enterprises ius
would tend 10 prevent the rec''rrere OF extensive
strikes end you'd slye ths tetl.pg aiassa ascy