The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-05-04
Condition Of the Iron Trade in East
ern Ohio and Western Pennsylva-

Condition Of the Iron Trade in East
ern Ohio and Western Pennsylva.
mia.
The Cleveland Leader Of last Saturday
observes thata superficial view OF the
iron interests ot these regions would lead
the observer to believe that their vast
trade is in prosperous condition. "The
flaming furnaces Of FIRE and smoke, and
steamlng rolling mills, seem totell oI
giantindustry in perfect vfgor. But TO go
to the iron manufacturer and hear him say,
with long face, that "things are dull
terribly dull" and this appearance Is dis.
sipated.
1.-THE reason Of the dullness can easily
be traced 10 two immediate causes First,
tho decreased demand for manufactured
iron; second, the high price OF iron ore. The
first Is the result Of the lock In financial
affairs, which caused retrenchment by
consumers; the second is the joint result
OF monopoly and the high rates charged
Tor transportation. While the price oil
iron has necessarily been greatly reduced,
the manufacturer Is compelled 10 pay az
most iUrmer rates. At the present price
u Iron Mountain Hnd Lake Superior ore,
the purest In use, iron cannot be made ex.
cept at q constant loss OF from two to four
dollars per ton. This may do for few
weeks, but when the same state Of affairs
extends into months, with but poor
prospect OF improvement, 1t becomes
"demnition grind"
Information has been received from ev. |
cry point from Cleveland TO Plthburph,
aud much ol the knowledge CLEANED Is |
from verbal communication. Gentlemen
who are interested in the ore trade assert
that the sales Of that mineral for the com.
ing season will be less than halt the
amount ot the average yearly sale. This
plainly beLokens serious falling of In
the manufacture Of iron, unless something
occurs TO increase the demand. The only
hope Tor this is in the fact that railroads
have been making no Improvements, ex-
cept those imperatively necessary, for the
past eight mOnths From this the con-
clusion Is deduced that railway companies
will be compelled to repair largely, II not
to build, before the commencement of an.
other winter. The iron manufacture of
the region referred to make the same
statements, but farther complain OF the
unnecessary high prices OF ore.
In Cleveland and Pittsburgh and sha.
ron and youngstown, in the Shenango
and Mahoning valleys, a majority ol the
mills and furnaces are still in operation.
a manufacturer from the Shenaugo VAL
ley informs us that while those capitalists
who have furnaces in connection with
their mills are operating with but little or
no loss, those who have one without the
other are losing heavily and, unless q
change for the better occurs, they will
soon be forced TO stop their works, This
g true OF every locality. Hundreds of
furnaces and mills, which are in busy
operation to-day, would be lying still and
cold were 1t not that the determined pro-
prtetors are ambitious to furnish labor Tor
their employees, retain a trade which
renders It hard TO secure, and
TO escape the general rust which stapna.
lion would entail upon them. The strong
hope Is that railroad interests will make
heavy demands upon the manufacturers
before next fall. Confident that this will |
the large msjority OF the iron
capitalists will endeavor 10 maintain their
works In steady operation.
Alter the Immediate causes above re.
ierred to, the cause OF the staenation in |,
this industry is that which affects the
business oi the whole country, viz lack
OF confidence in the financial system Of
the government. This Is plainly the
primal cause Of all. The flaancial bill
lately vetoed by President Grant was too
vague and insufficient to accomplish any
good. The universal verdict OF the iron
manufacturing element, regarding The
means taken TO restore this confidence.
and consequent yigor and prosperity,
nearly comedies with the recommends.
tons contained IN the veto message.
The principal demand is for system Of
free banking. These are, briefly and
without coloring, the conditioss and
wants of the iron trade. Other brauchss
OF industry demand the same financial re.
construction. That which will affect one
VIII reVivity all the others. A dillatory
Congress will work daily injury in the
future as 1t has in the past, and members
should neither sleep soundly nor cat
heartily until they secure the passage OF
that financial measure which will def.
nttely settle the financial uncertainty,