New-York tribune., 1874-05-29
THE IRON INDUSTRY.
MEETING OF IRONMASTERs IN PHILA-
DELPHIA.


TARIFF, FREE RANKING, AND THE COMPLETION
OF THE PACIFIC RAILROADS ADvOCArED-THE
CuRrAHMENr OF PRODUCTION RECOMMENDED
THE BANKRUPTCY LAW CONDEMNED.
lBr TELEGRAPH TO THE rRIBUsE.l
PHILADELPHIA, May 2s.-From the serious
demeanor OF the 10 odd furnace who assembled
In the rooms Of the American Iron and Steel Association
to-day one might have supposed that the funeral OF pig
iron was about TO take place. decided melancholy
tone prevailed at the meeting. Everybody had the
same report to make Of prosraton with business
ana OF discouragng prospects for the future and the
opinion was general that II any revival in the trade
taxes place very soon 1t must come from causes which
cannot now be f0reseen controlled. The meeting
was private one, and the newspaper reporters were
informed that they would be furnished with such ac-
count OF the proceedings 1t desirable should
appear In print The following gentlemen, representing
50 furnaces, we're present:
VIM. E 9. Baker Bloomsbury Iron Company and Dun
cannon d iron Company. Philadelphia; H. wm Ellicott
and Furnaces Baltimore; John Bancroft, VintOn
srdson Furnace; F. B. & A. Laughlin Avisviile, Penn.
Z: q 4. bayer Temple Iron Company, Reading. Penn;
Brdsboro Penn; Geo. A. Wood President Crane Iron
Company. Philadelphia; g. W. Whitaker, saucon Iron
Iron Company Maryland; Horace /. Brooke OF Brooke
s frts, Baltimore; d. Bauman, Carbon Iron, Parry
New-York; W. U. Masters Tuscarawas Coal and Iron
Company, Clevelandi J. b; Moorehead, Marion Fur
Co.. Pittsburgh; C. ] Nourse, Chestnut Hill Iron Ore
COMPANY Company Col Columbia Penn G. H. & Nimson, Emus Iron
town, Penn ". H. Arey, President Lehigh Iron Com
oany Aen6oTn Isa5 % Penn President
Thomas thomas Peacock Philadelphia; Isaac McHose and
spown S6 Temple rS1 aps M
Koberts Glamorgan Iron Company, Philadelphia
MouRt Fsna
PENN; samuel W. kodman, agent, bloomsbury Iron
Detroit
Emanuel Bost, Ringgold Iron Company New RInggold,
Iron Works Norrstown Penn; W. r Gunnis. Moseim
IRON iron company Philadelphia; Abram 3. Patterson
P. Fowler. Union Furnace Danville, Penn; j. K spang
SUPERINTENDENT keystone Furnace, Reading, Penn;
County Penn; Harvey II. Brown, Jackson Iron Com
pany and stewart Furnaces Cleveland ana John STAN,
Oaugh, President Brier Hill Coal and Iron Company and
struthers Iron Company Youngstown, Ohio.
No new statistics were presented Of the number Of
furnaces In blast and blown out but 1t stated that
the report of the Secretary Of the American Iron and
Steel Association made the 3oh Of April represented
about the state OF things At that date out Of
the 666 furnaces In the United running
and 266 were out OF blast. The opinion expressed
by the Secretary that nearly half OF the furnaces now
in operation would blow before the st OF september
Many are now running 10 use up stocks of charcoal
which would detenorae II long exposed the weather.
and would be in danger OF destruction by fire, while
others running only because their think il
have on hand into pig metal before stopping. Among
the latter OF the furnaces IN the Shenango and
Mahoning Valleys.
"a. - - .sjurse OF the Chestnut Hi Iron Ore Com
pany OF Columbia, Penn., that he paying only
81 day for labor, and that among the men who were
working FOR this pudders who once earned per
day He was selling good gray forge metal at SIS and
which below its actual cost. II prices did
not improve, he should be compelled 70 reduce the
m iners to or "a ",
q. Even at these rates he doubted II iron could be
made at profit.
Letters read from number OF furnace owners
in different parts OF the country, eorrOborang, far
the condition Of the interest in that section was
concerned the gloomy statements OF The participants in
the meeting The chief cause Of the present discourag
ing situation is unquestionaby the general cessation of
railway building. The country has passed through an
Of remarkable activity in the construction OF rail-
roads, stimulated by the aud grant and subsidy policy
OF Congress. Some Of the most thoughtful men present
declared belief that it would be many years before
another such a period could be expected, and that the
trade could not for long time to come 90 back 10
the prosperity it enjoyed in 1872 unless IL given
control OF the American market by higher tarif or
unless Congress came to its assistance with legislation
that would insure the completion OF the Northern and
Southern Pacific Railroadsand thus ,create demand
for iron. A large part Of the time OF the Convention
spent in discussing the currency question. Proba
nnetenths OF the iron manufacturers OF the country
are iphationists Their logic ID simple II not convinc
ing. We prospered when the currency was plenty,
they saw therefore increase OF currency will make
us prosper again. In what way food Of rredeemable
paper going TO make people buy iron and build rail-
roads where needed they do not stop 10 con-
sider There are them men who are cOnserya-
riyes on financial questions, and who see that stable
is the only sure basis for MANUFACTURING In-
terest, but they only, it would appear. IN small
minority. The Convention had the good sense, now
ever adopt extreme imitation resolutions, and con-
tented itself with Endorsement OF the Free Banking
bill now pending in Congress. The growing sentiment
among manufacturers OF all kinds IN favor OF cuiyatlng
a friendly spirit OF cooperation with the workingmen
found expression In resolutions inviting assistance from
the working classes to the legislation from Con-
gress which is deemed essential 10 the revival OF the
iron trade. Tue roumasers have heretofore
maintained an attitude far hostile than cOncia-
tory ard the labor organizations. and this change VI
feeling is an encouraging indication.
The resolution recommending sthe curtaIng OF pro-
ducton by stopping the mining OF coal and ore and put
ting the furnace fires. set forth the only distressing
condition OF affairs that the ironmasters have in their
hands By thus ceasing TO oyerstock the market,
the more hopeful among them believe that business
Will brighten little in the Fall and continue to pick up
slowly 1t suicidal, they argue to on making Iron
and png around the furnaces when 1t cannot be sold
FOR its cost The resolutions adopted at the meeting
were prepared by a Committee composed OF Messrs
James l. Bennett, T. GiTownsend Geo. A. Wood, u. u.
Moorhead and c. g. Kaufman. They read as follows:
Whereas The recently published statistics OF TINS As
sociaton show that In consequence or the decreased
demand for iron more than one-ha OF the rolling mills
OF this country are idle and that nearly 3OO fur
naces out OF blast; and
Whereas. BY the stOppsge Of these and other estab
lishments, dependent tho prosperity OF our rail-
road system which consumes one half OF the iron pro-
duct of the country it has been shown that 7oU WORK
ingmen have been thrown out Of employ ment and re-
main unemployed; and
Whereas Iu consequence Of the general interruption
business Of the country caused by the panic the
Of manufacturers which recently called upon
the Ways Means Committee OF the HoUse OF Repre-
senaves decare that fully 100000 working people are
OUT employment the loss to the country OF