National Republican. (Washington City (D.C.)) 1872-1888, 1874-12-11
PIG-LROY CONVENTION.
DECREASED Observation-Disclosures
AND PROTECTION


AND PROTECTION.
PHILADELPHIA, Dec. IO-A convention of all
persons interested in the pig-iron branch Of the
iron trade In the United States was held this
forenoon at the rooms Of the American Iron and
Steel Association, in pursuance Of a call made by
the chairman Of the pig-iron committee. The
meeting was very largely attended by the repre-
sentatives of the iron manufacturers in Pennsyl-
vania, including several from Maryland and New
York. After reading the call for the meeting and
resolutions adopted ct the meeting held on the
oath ultimo, the reporters were asked to retire,
and the convention consulted with closed doors.
REPORT OF THE COMMITTEE.
The committee Of seven appointed last month
reported the following
AGREEMENT:
The undersigned pigiron manufacturers, be-
lievfng that the greatly decreased demands in
the consumption Of pigiron imperatively de-
mands q corresponding decrease In the amount
produeed and believing also that through over
production q crisis now exists in the pig-iron
business which requires prompt and energetic
action to save it from threatened bankruptcy
and ruin; and belieYing'also that the proper and
most effective remedy to be found in q decrease
of production to correspond with the demand
for consumption, we, the undersigned furnace
owners, in person and by their representatives,
hereby agree, each with the other, that we will
EeVeIdllg utCIbde6 Luo pIOQuCllOu AZ our EeSpeC-
tive works to q quantity not exceeding one half
the capacity of our several furnaces and to faith
fully continue and maintain such decrease Of pro-
duction for and during the whole of the year 1876
Provided, That this agreement shall not be bind
ing until signed by the representatives ofat least
two thirds of the furnaces, exclusive Of charcoal
in the United States: And provided further That
the signers to this agreement may withdraw, and
be released from the same, on giving two months
60 q.
Iron and Steel Association Of their desire and
intention to do so.
Mr.. H. Mccormick, of Harrisburg, offered the
THE FOLLOWING SUBSTITUTE
for the report Of the committee:
RssoIred, That it is the sense of this meeting
thakany combination or agreement to limit the
production of any article In general use by the
public is unWise. The better course is to circu-
late as widely as possible correct statements of
the market prices that can be obtained, the
amount Of production, probable demand and
stocks on hand, leaving producers to their own
Judgment whether it is their interest to suspend
or continue production. With about one half of
all Of the furnaces of the country now out of blast
and the demand limited for the product of those
yet in blast, that Gray forge pgirOn is quoted in
this market to-day at very low figures. In our
wise or agreement as to suspending for q while
the further production.
After some debate, q vote was taken on the sub
stitute, and it was declared lost.
The report of the committee was adopted
almost unanimously.
AUTHORIZATION RESOLUTIONS.
Col. Kaufman, of Lancaster, then offered the
following resolution:
RESOLVED, That in our Judgment it would be dis
astrous to the manufacturing and commercial in
terests Of the country to attempt the resumption
OF specie payments in the near future and that If
attempted It would only be a failure.
RESOLVED, That the only way to resume is to
get the business of the country in such condition
by so regulating the tariff on imports as will keep
the balance Of trade in our favor, and by that
means keep our specie from going out Of the
country.
bill of Judge Kelley, and ask our representatives
in Congress to use all honorable means for its
passage.
Mr.. Mccormick, Of Harrisburg, opposed action
upon any matter that sayored Of politics or
finance. He declared himself In
Favor OF SPECIE PAYMENTS,
and thought if this question had been settled by
Congress in favor Of specie payments it would
have completely ended the fluctuations in prices
to which all articles OF trade had lately been sub
jected.
Col. Kaufman thought the Industrial men of
the country were opposed to specie payments.
Bankers and brokers favor it, but ninety out of
every hundred producers oppose 1t.
Mr.. Chamberlain, of Chattanooga, Tenn, depre-
Gated discussion Of the finances, urging that the
meeting should contne fits attention to the pres
ent condition of the iron trade.
Mr.. Mccormick moved the resolution she laid
on the table. Lost.
The resolutions were then adopted.
ANTtREcIPRoCITY.
Mr.. Whitaker, Of HellertOwn, Pa, presented
the following:
Resolved, That this convention, representing
the pig-iron manufacturers Of this country, ear
nestly protest against the ratification Of the pro-
posed reciprocity treaty with Canada, believing
that such treaty, If ratified would result in COM
pleteIy breaking down the barriers which now
exist against the Introduction to our markets Of
the products Of lOw-priced European labor, in
preventing the payment of the interest on our
national debt, and in continuing indefinitely the
general distress which now prevails.
Adopted unanimously.
Mr.. Ainey moved that an executive committee
Of five be appointed to carry out the plan Of cur
failing production. Adopted.
The committee is as follows: Wessrs William
H. Ainey, Allentown; J. B. Moorehead, Phila-
delphia; W. H. H. Gere Geddes, New York; Jas.
]. Bennett, Pittsburg, and H. L. Brooke, Balti-
more.
The meetinp then adIourned.