The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-11-29
SATURDAY., NOV. 20, 1873.
Tho Outlook for Iron.

mill IRON az pSu p1k tOh' "A"s
will those same readers think when we
now tell them that the BelIont Mill at
Irouton. has bought fifteen hundred tons
Of "grsy forge iron" at $2s 95 per ton to
be taken OF the ratio of five hundred tons
per month on three months time. This,
saws tho Itonton Journal, "is tho lowest
purchase Of good gray forge iron we have
heard Of for years." 1t was made by the
Belfont Mil in consequence OF their fur
mace being out Of blast for repairs.
Such prices for iron do not look very
encouraging TO Furnace owners. They
are less by several dollars per ton than
iron can be made for, either in this vlcin.
ity or In the Mahoning or shenango Val
lies. Many furnaces In these two Vallies
have blown out rather than incur the ex'
pense Of using up their high priced ore
and holding their product Of iron. We
understand that there is an unusual &C
emulation OF ore on the Cleveland docks
.o,o,,;ar N ra-,;oo who are mt nrenared
- 49,, ros;t Tnaeed we hear that some
n,t,is. hoys mt bpen able IN nav The
freight on their ore. 1t Is said that one
large concern near Cleveland owes the
S,ano,enJ = pn,oh,,,b po;,,oad mr. aid
,ooon,lv az mnch a. seo oOO for freight
ord Tho, oro,har concern at Pittsburgh
.,.o ouoo ,hom n largo omonnt
An ,h;, q ,o,y d;sconrso;ny ,ook;rp at
Il f,om tbc s,.nd noint Of to .day oply
nr, ,hsrs "a a1oiber view TO he taken OF
T. Wa ara ~ look ahead and es,ima,e as
e., 40 o.,, vbot Tho sI,ue,ion will be n
ia' no W. you "1 w ...' A.. -.
10" montls nence. on' .n'ns 'uA' 100
tended 10 depress the market ever since
the manic broke out is the fact that the
,an.a.a 8, 10, "a hr;,d ro;lrooda seemed
uemant ioI-Nou " 'u"I Isnoau' 49,. $50. ~
to be wiped out ior an lnuenhl'e uulc u
come. Everybody said that capitalists
world spbt yerv shy hereafter of all new
.r..oa o.,...,,,oc. .hot II, Coovp,o
Falioau en'ei pfises' 'ua' 'NA "0AD ,
road had demoralized the country, and
that people who had money TO invest
.,or,i NOT hereafter mt Il into bonds of
"N ~ s.a-ss,a. Mi, ho;,,
IN experimental euao''eA' Ani' o ~
the case what was TO be come OF the oooo''
900 tons Of iron that America can now
nroance rnce an much Of the demand
p'0I1s' :, A..
would be cut Gil by Inc s'oppsge 0. INC
new railroads. In what way could we
consume The ba,ancep This question Is
49, =. "a oor,;dorod nv Tim Ncv
IaAeh up auo [ ", -"
York Financial CHfon'e'S 10 us last ISSUE
We quote from It's article as follows:
So faras the railroads are concerned,
nrr readers do not need 10 be told that we
ara confident ,they. cannot long remain
financially embarrassed, There is moth
inc IN lIraaten a aiminu,ion in their
,rsff,c or earnings, and the beginning OF
another year will probably find the estab.
lished, lines In a condition 10 incur oil
necessary expenses Tor improvements, and
with every Infringement for the iucreqse OF
,heir fscilities for business BY the pur-
chase and construction OF new rolling
stock the building of sidings and
ewtches and the construction or compile.
lion If such IRON bridges as may rc neces.
sarv. II ia doubtful il many new enter
nr,ses will be undertaken during the next
Twelve months. but were railroad building
IN ceHse altogether. we should still re-.
ouire a large Der ccntago of our annual
PRODUCTION Of iron for repairs and i'm
proyements. Nearly ore.third oil the
mileage in operation has been built and
eonin6ed since 1869, much Of 1t with
cbean materials, which already need re.
newal, We also need great deal Of iron
IN rpnlace that which wears out, and,
with opr present mileage, il is estimated
that 100000 tons oil new and rerolIed rails
will be REQUIRED for renewals alone during
1874, and this amount Is within less than
100000. tons Of tho present maximum
CAPACITY OF our rail mills. To this must
be- added The amount needed for extern
sione, sidinqs, &c, for new railroads
which are so far advanced that the risks
Of completing them are far less than the
risks OF leaving them unfinished, and for
additional tracks which some Of the trunk
lines already find necessary for the sepa
rate accommodation of freight and pas.
senger traffic. 1t must be remembered,
moreover, that the market is now almost
wholly relieved OF foreign rails. The
impoftstions have practically ceased, and
OF prcSent prices on the other side, which
are likely TO be maintained, they cannot
be sent here proiitably In competition
with the American product. This leaves
the field pretty much 10 our own iron
masters, and the probabilities are that the
demand next wear will be large enough
TO keep them well EMPLOYED, even though
we should build less than q quarter o! the
mileage that was completed in 1872. In
that year about one.third OF our total
nrodnctIon OF iron went into Railroads
and with foreign supplies practicable chi