The New York herald., 1874-12-11
THE PIG IRON INTERESTS.


Production To Be Decreased TO One
Half tho Capacity OF tho Furnaces-
Opposition 20 tho Resumption of Specie
Payment-JudEe Kelley's 3.65 Bill Ap-
proved-Protest Against the RatiGca-
tion OF tho Reciprocity Treaty.
PHILADELPHIA, Dec. 10, 1874.
convention OF all persons interested In the
pig iron branch OF the iron trade In the United
States was held this morning at the rooms OF rhe
American Iron and Steel Association. in pursuance
OF call maze by the chairman OF the Pig Iron
Committee. The meeting was very largely at
tended BY the representatives OF the iron manu-
facturers OF Pennsylvania and several from Mary
land and New YORK. After reading the call for
the meeting ana the re solutions adopted at the
meeting held on the Gath ult. the committee OF
seven appointed last IN ontn reported the Iolov-
ing agI cement
The undersigned pig iron manufacturers, believing
Of pig iron imperativeiy demands corresponding de-
through overproducton crisis now exists IN the Pig
aeea MOSa and
anI ~ ~ also the and s most remedy
spSnd wi with:t6s demand & lor &coasnmD.,on , ,o
Sss mat win wass. the
Quantity not ,sxseedins ons,hslt ihs Ssapacity
Snue and maintain .ueh decfeass production and
s BE- ns y % @
resentaves OF at least two-thrds Of the furnaces excl
sher sna. the sners this wtSdsw
d Ss nnc 81 n. u. on Sa as
do dos So ''''' ~''0''A'A . ''' '''-' -1N 'A'A y
Mr. H. Mccormick, OF Harrisburg, offered the
following substitute Tor the report OF the COM
mittee:-
Resolved. That is OF this meeting that any
rcs in use By The Ppnc 1nwss The bet
correct statements OF market prices that can be Oh
hand leaving me producers 10 their own
+ h s s e
s s nS out u q o e. ana ns S S
gray forge pig iron is quoted this today at
very low dsures in our opinion the pig iron manufac
a while further production.
After some debate vote was taken on the sub
Ctitute and II was declared lost. The report OF
the committee was then adopted almost unani-
mously. Co4onel Kaufman, OF Lancaster. offered
the
FOLLOWING RESOLUTIONS:
Resolved That IN our Judgment i would be disastrous
country to attempt resumption specie payments in
the near future and that IL attempted would only be
Resolved, That the only way to resume is to get the
Sss1s. p s?
trade in oar avor M and BY that means keep our specie
RESOLVED, That we hereby approve Of the sc, bill of
to use oil honorable means for It's passage.
Mr.. Mccormick OF Harrisburg. opposed action
any IN OF ssecs
payments, and thought II this question had been
settled by Congress IN lavor OF specie payments II
would have completely ended the fluctuations In
prices TO which all articles OF trade had lately
been subjected.
Colonel Kaufman thought the industrial men
OF the country were opposed to specie payments.
Bankers and brokers favor 1t, but ninety nine out
OF every hundred producers oppose It
Mr. Chamberlain, OF Chattanooga, Tenn, de-
precated o discussion or the finance, urging that
the meeting should cOnfne Its attention TO the
present condition OF the iron trade. MI. McC0r-
mick moved that the resolutions De laid on the
table. Lost. The resolutions were then adopted.
Mr.. whitaker. or HeLertown, Pa. presented the
fOllowlng:-
Resolved That this Convention. representing the rig
iron uacturers OF this country, earnestly protest
against the ratification of the proposed Reciprocity
Treaty with Canada, believing that such treaty II ran
fled, would result In completely breaking down the
markets OF the PRODUCES of low priced European
labor in disastrosy impairing the revenues OF tho
in preventing the payment of the interest
national debt and in Continuing indefinitely the
general distress which now prevails
Unanimously adopted.
Mr.. Ainey moved ruat an executive committee
of five be appointed to carry out the plan OF
falling producuon. Adopted. The committee
was then appointed, as follows :-Messrs Wm Ii.
Ainey, OF Allentown; J. B. Mo0rehead, Of Phila-
delphia; w. h. II. Gore, of Geddes. N. Y; James
l. bennett OF Plttsburg. and H. L. Brooke, OF Balti
more.